Korean Energy Economic Review ISSN:1599-7057(Print) 에너지경제연구

The purpose of this study is to specify the passenger vehicle choice model and estimate the marginal effects of household-specific characteristics on the probabilities of choosing vehicle classes. The data and information for this study were collected in a survey of Korea Energy Economics Institute conducted for about 1,800 households in 2002. The household-specific characteristics variables are household income class, age, gender, driving career of drivers, annual kilometers traveled, registration type of vehicles and the number of cars held. As the dependent variable of the choice model indicates the ordinal classes by engine size, the ordered probit and logit models are applicable for our study. The marginal effects of most explanatory variables on the vehicle class choice probabilities show acceptable signs and appear to be statistically significant at the test size of 5%.