|
| Symbol | Definition | Value |
|
| Interest rate per period | 0.03 |
| Inflation rate per period | 0.01 |
| Fixed component of distance-based fare (HK$) | 2.5 |
| Ratio of peak-hour flow to the daily average flow (%) | 80% |
| Proportion of trips with the CBD as the destinations (%) | 95% |
| Density gradient | 0.04 |
| Sensitivity parameters in elastic demand function | 0.066 |
| Commuters’ perceived random error for generalized travel cost | |
| Value of time for access time, waiting time, and in-vehicle, respectively, (HK$/hour) | 80 |
| Parameter for waiting cost | 0.5 |
| Parameter for value function | 0.88 |
| Parameter for value function | 0.88 |
| Parameter for value function | 2.25 |
| Average train operating speed (km/hour) | 40 |
| Average commuter walking speed from location to station (km/hour) | 10 |
| Average distance between location to station (km) | 0.5 |
| Average train dwelling time at a station (hour) | 0.03 |
| Fixed train operating cost per period (HK$/hour) | 1350 |
| Variable train operating cost per train in each period (HK$/vehicle hour) | 540 |
| Number of terminal times of train | 2 |
| Constant terminal time of train (hour) | 0.2 |
| Parameter for weighting probability function | 0.61/0.69 |
| Fixed component of rail line cost (HK$/hour) | 750 |
| Variable component of rail line cost (HK$/vehicle hour) | 300 |
| Fixed component of rail station cost (HK$/hour) | 1250 |
| Variable component of rail station cost (HK$/ station hour) | 500 |
| Parameter representing fixed components of rent function around rail station | 80 |
| Parameter representing demand-dependent components of rent function around rail station | 10 |
| Potential housing supply density at location in period (housing unit) | 40000 |
| Random disturbance term of daily housing rent differences among houses | |
| Reference point for generalized travel cost (HK$/day) | 80 |
| Reference point for daily housing rent (HK$/day) | 100 |
| Probability of obtaining low living cost at location in period | 90% |
|
