The triple cross correlation of three signals is a simultaneous function of two lags. It is an alternative to cross correlations taken two at a time for determining the lags for a given source at three distributed sensors. It should offer improvement in arrival time identification only when the statistics of the signal have significant third moment components. In this study, amplitude- and frequency-modulated snythetic transient signals are propagated over several possible paths to three sensors, and the triple correlation of the received pulses computed, as well as the cross correlations of the same three signals two at a time. The efficacy of these two approaches is compared for a variety of amplitude- and frequency-modulated transient signals and multipath interference conditions