Search results for: road pricing
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 1528

Search results for: road pricing

1348 The Impact of Vertical Product Differentiation on Exchange Rate Pass-Through: An Empirical Investigation of IRON and Steel Industry between Thailand and Vietnam

Authors: Santi Termprasertsakul, Jakkrich Jearviriyaboonya

Abstract:

This paper studies the market power and pricing behavior of products in iron and steel industry by investigating the impact of vertical product differentiation (VPD) on exchange rate pass-through (ERPT). Vietnam has become one of the major trading partners of Thailand since 2017. The iron and steel export value to Vietnam is more than $300 million a year. Particularly, the average growth rate of importing iron and steel is approximately 30% per year. The VPD is applied to analyze the quality difference of iron and steel between Thailand and Vietnam. The 20 products in iron and steel industry are investigated. The monthly pricing behavior of Harmonized Commodity Description and Coding System 4-digit products is observed from 2010 to 2019. The Nonlinear Autoregressive Distributed Lag is also used to analyze the asymmetry of ERPT in this paper. The empirical results basically reveal an incomplete pass-through between Thai Baht and Vietnamese Dong. The ERPT also varies with the degree of VPD. The product with higher VPD, indicating higher unit values, has higher ERPT. This result suggests the higher market power of the Thai iron and steel industry. In addition, the asymmetry of ERPT exists.

Keywords: exchange rate pass-through, iron and steel industry, pricing behavior, vertical product differentiation

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1347 The Association of Slope Failure and Lineament Density along the Ranau-Tambunan Road, Sabah, Malaysia

Authors: Norbert Simon, Rodeano Roslee, Abdul Ghani Rafek, Goh Thian Lai, Azimah Hussein, Lee Khai Ern

Abstract:

The 54 km stretch of Ranau-Tambunan (RTM) road in Sabah is subjected to slope failures almost every year. This study is focusing on identifying section of roads that are susceptible to failure based on temporal landslide density and lineament density analyses. In addition to the analyses, the rock slopes in several sections of the road were assessed using the geological strength index (GSI) technique. The analysis involved 148 landslides that were obtained in 1978, 1994, 2009 and 2011. The landslides were digitized as points and the point density was calculated based on every 1km2 of the road. The lineaments of the area was interpreted from Landsat 7 15m panchromatic band. The lineament density was later calculated based on every 1km2 of the area using similar technique with the slope failure density calculation. The landslide and lineament densities were classified into three different classes that indicate the level of susceptibility (low, moderate, high). Subsequently, the two density maps were overlap to produce the final susceptibility map. The combination of both high susceptibility classes from these maps signifies the high potential of slope failure in those locations in the future. The final susceptibility map indicates that there are 22 sections of the road that are highly susceptible. Seven rock slopes were assessed along the RTM road using the GSI technique. It was found from the assessment that rock slopes along this road are highly fractured, weathered and can be classified into fair to poor categories. The poor condition of the rock slope can be attributed to the high lineament density that presence in the study area. Six of the rock slopes are located in the high susceptibility zones. A detailed investigation on the 22 high susceptibility sections of the RTM road should be conducted due to their higher susceptibility to failure, in order to prevent untoward incident to road users in the future.

Keywords: GSI, landslide, landslide density, landslide susceptibility, lineament density

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1346 Analysis of Brake System for Vehicle Off-Road

Authors: Elmo Thiago Lins Cöuras Ford, Valentina Alessandra Carvalho do Vale, José Ubiragi de Lima Mendes

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In elapsing of the years it elaborates automobile it is developing automobiles more and more modern that, every year, the vehicles recently of the assembly lines, practically they push for the past produced models there is very little time. Those innovations didn't also pass unperceived in 0respect the safety of the vehicles. It is in this development apprenticeship the brakes systems equipped more and more with resources sophisticated. In that way, before of that context, this research tried to project a brake system for a vehicle off-road and to analyze your acting as the brakes efficiency: distances traveled and time, concluding with possible improvements in the system.

Keywords: brakes system, off-road, vehicle acting, automotive and mechanical engineering

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1345 Competitivity in Procurement Multi-Unit Discrete Clock Auctions: An Experimental Investigation

Authors: Despina Yiakoumi, Agathe Rouaix

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Laboratory experiments were run to investigate the impact of different design characteristics of the auctions, which have been implemented to procure capacity in the UK’s reformed electricity markets. The experiment studies competition among bidders in procurement multi-unit discrete descending clock auctions under different feedback policies and pricing rules. Theory indicates that feedback policy in combination with the two common pricing rules; last-accepted bid (LAB) and first-rejected bid (FRB), could affect significantly the auction outcome. Two information feedback policies regarding the bidding prices of the participants are considered; with feedback and without feedback. With feedback, after each round participants are informed of the number of items still in the auction and without feedback, after each round participants have no information about the aggregate supply. Under LAB, winning bidders receive the amount of the highest successful bid and under the FRB the winning bidders receive the lowest unsuccessful bid. Based on the theoretical predictions of the alternative auction designs, it was decided to run three treatments. First treatment considers LAB with feedback; second treatment studies LAB without feedback; third treatment investigates FRB without feedback. Theoretical predictions of the game showed that under FRB, the alternative feedback policies are indifferent to the auction outcome. Preliminary results indicate that LAB with feedback and FRB without feedback achieve on average higher clearing prices in comparison to the LAB treatment without feedback. However, the clearing prices under LAB with feedback and FRB without feedback are on average lower compared to the theoretical predictions. Although under LAB without feedback theory predicts the clearing price will drop to the competitive equilibrium, experimental results indicate that participants could still engage in cooperative behavior and drive up the price of the auction. It is showed, both theoretically and experimentally, that the pricing rules and the feedback policy, affect the bidding competitiveness of the auction by providing opportunities to participants to engage in cooperative behavior and exercise market power. LAB without feedback seems to be less vulnerable to market power opportunities compared to the alternative auction designs. This could be an argument for the use of LAB pricing rule in combination with limited feedback in the UK capacity market in an attempt to improve affordability for consumers.

Keywords: descending clock auctions, experiments, feedback policy, market design, multi-unit auctions, pricing rules, procurement auctions

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1344 Pavement Roughness Prediction Systems: A Bump Integrator Approach

Authors: Manish Pal, Rumi Sutradhar

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Pavement surface unevenness plays a pivotal role on roughness index of road which affects on riding comfort ability. Comfort ability refers to the degree of protection offered to vehicle occupants from uneven elements in the road surface. So, it is preferable to have a lower roughness index value for a better riding quality of road users. Roughness is generally defined as an expression of irregularities in the pavement surface which can be measured using different equipment like MERLIN, Bump integrator, Profilometer etc. Among them Bump Integrator is quite simple and less time consuming in case of long road sections. A case study is conducted on low volume roads in West District in Tripura to determine roughness index (RI) using Bump Integrator at the standard speed of 32 km/h. But it becomes too tough to maintain the requisite standard speed throughout the road section. The speed of Bump Integrator (BI) has to lower or higher in some distinctive situations. So, it becomes necessary to convert these roughness index values of other speeds to the standard speed of 32 km/h. This paper highlights on that roughness index conversional model. Using SPSS (Statistical Package of Social Sciences) software a generalized equation is derived among the RI value at standard speed of 32 km/h and RI value at other speed conditions.

Keywords: bump integrator, pavement distresses, roughness index, SPSS

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1343 A Study on Bicycle Riding Behavior on Bike-Only Road

Authors: Hyeon Jong Yoo, Jae Hwan Yang, Dong Kyu Kim

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Recently, riding a bicycle is recommended as an eco-friendly means of transportation. In Seoul, the mayor has secured budget for extending bicycle infrastructure. As bicycle rental centers are adopted in places, more citizens are using bike rental service on bike-only roads for leisure. However, most of the citizens are not experienced in riding bicycles. They usually do not wear helmets, keep the balance of bicycle riding, and pay attention to nearby occasions. Therefore, in this study, bicycles on Han-river bike-only road were tracked, and their behaviors were analyzed in order to show how dangerously beginner riders are riding. The number of conflicts is calculated to evaluate riding safety on the most crowded bike-only road. As a result, conflicts between beginner riders and fast-driving skilled drivers are frequently observed especially at night, and on weekends. In conclusion, it is suggested that the government should acknowledge citizens the fact that bikes are vehicles and adopt a test for bike driving.

Keywords: bicycles, safety, bike-only road, policy proposal

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1342 Design of New Sustainable Pavement Concrete: An Experimental Road

Authors: Manuel Rosales, Francisco Agrela, Julia Rosales

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The development of concrete pavements that include recycled waste with active and predictive safety features is a possible approach to mitigate the harmful impacts of the construction industry, such as CO2 emissions and the consumption of energy and natural resources during the construction and maintenance of road infrastructure. This study establishes the basis for formulating new smart materials for concrete pavements and carrying out the in-situ implementation of an experimental road section. To this end, a comprehensive recycled pavement solution is developed that combines eco-hybrid cement made with 25% mixed recycled aggregate powder (pMRA) and biomass bottom ash powder (pBBA) and a 30% substitution of natural aggregate by MRA and BBA. This work is grouped in three lines. 1) construction materials with high rates of use of recycled material, 2) production processes with efficient consumption of natural resources and use of cleaner energies, and 3) implementation and monitoring of road section with sustainable concrete made from waste. The objective of this study is to ensure satisfactory rheology, mechanical strength, durability, and CO2 capture of pavement concrete manufactured from waste and its subsequent application in real road section as well as its monitoring to establish the optimal range of recycled material. The concrete developed during this study are aimed at the reuse of waste, promoting the circular economy. For this purpose, and after having carried out different tests in the laboratory, three mixtures were established to be applied on the experimental road.

Keywords: biomass bottom ash, construction and demolition waste, recycled concrete pavements, full-scale experimental road, monitoring

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1341 Hybrid Multipath Congestion Control

Authors: Akshit Singhal, Xuan Wang, Zhijun Wang, Hao Che, Hong Jiang

Abstract:

Multiple Path Transmission Control Protocols (MPTCPs) allow flows to explore path diversity to improve the throughput, reliability and network resource utilization. However, the existing solutions may discourage users to adopt the solutions in the face of multipath scenario where different paths are charged based on different pricing structures, e.g., WiFi vs cellular connections, widely available for mobile phones. In this paper, we propose a Hybrid MPTCP (H-MPTCP) with a built-in mechanism to incentivize users to use multiple paths with different pricing structures. In the meantime, H-MPTCP preserves the nice properties enjoyed by the state-of-the-art MPTCP solutions. Extensive real Linux implementation results verify that H-MPTCP can indeed achieve the design objectives.

Keywords: network, TCP, WiFi, cellular, congestion control

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1340 Emergency Management and Patient Transportation of Road Traffic Accident Victims Admitted to the District General Hospital, Matale, Sri Lanka

Authors: Asanka U. K. Godamunne

Abstract:

Road traffic accidents (RTA) are a leading cause of death globally as well as in Sri Lanka and results in a large proportion of disability especially among young people. Ninety-percent of world’s road traffic deaths occur in low- and middle-income countries. The gross disparities in injury outcomes relate to immediate post-crash and hospital management. Emergency management, methods of patient transportation following road traffic accidents and safety measures are important factors to reduce mortality and morbidity. Studies in this area are limited in Sri Lanka. The main objective of this research was to assess the emergency management and proper method of transportation of road traffic accident victims. This offers the best way to explore the ways to reduce the mortality and morbidity and raise the public awareness. This study was conducted as a descriptive cross-sectional study. All the consecutive road traffic accident victims admitted to surgical wards at District General Hospital, Matale, Sri Lanka, over a period of three months were included in the study. Data from 387 victims were analyzed. The majority were in the 20-30 year age group. Seventy six percent of the patients were males. Motorcycles and trishaws were most affected. First-aid was given to only 2% of patients and it was given by non-medical persons. A significant proportion of patients (75%) were transported to the hospital by trishaws and only 1% transported by ambulance. About 86% of the patients were seated while transport and 14% were flat. Limbs and head were the most affected areas of the body. As per this study, immediate post-crash management and patient transportation were not satisfactory. There is a need to strengthen certain road safety laws and make sure people follow them.

Keywords: emergency management, patient transportation, road traffic accident victims, Sri Lanka

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1339 Study of Causes and Effects of Road Projects Abandonment in Nigeria

Authors: Monsuru Oyenola Popoola, Oladapo Samson Abiola, Wusamotu Alao Adeniji

Abstract:

The prevalent and incessant abandonment of road construction projects are alarming that it creates several negative effects to social, economic and environmental values of the project. The purpose of this paper is to investigate and determined the various causes and effects of abandoning road construction projects in Nigeria. Likert Scale questionnaire design was used to administered and analysed the data obtained for the stydy. 135 (Nr) questionnaires were completed and retrieved from the respondents, out of 200 (Nr) questionnaires sent out, representing a response rate of 67.5%. The analysis utilized the Relative Importance Index (R.I.I.) method and the results are presented in tabular form. The findings confirms that at least 20 factors were the causes of road projects abandonment in Nigeria with most including Leadership Instability, Improper Project Planning, Inconsistence in government policies and Design, Contractor Incompetence, Economy Instability and Inflation, Delay in remittance of money, Improper financial analysis, Poor risk management, Climatic Conditions, Improper Project Estimates etc. The findings also show that at least eight (8) effect were identified on the system, and these include; Waste of Financial Resources, Loss of economic value, Environmental degradation, Loss of economic value, Reduction in standard of living, Litigation and Arbitration, etc. The reflection is that allocating reasonable finance, developing appropriate and effective implementation plans and monitoring, evaluation and reporting on development project activities by key actors should enhance in resolving the problem of road projects abandonment.

Keywords: road construction, abandonment of road projects, climatic condition, project planning, contractor

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1338 Assessing Knowledge and Compliance of Motor Riders on Road Safety Regulations in Hohoe Municipality of Ghana: A Cross-Sectional Quantitative Study

Authors: Matthew Venunye Fianu, Jerry Fiave, Ebenezer Kye-Mensah, Dacosta Aboagye, Felix Osei-Sarpong

Abstract:

Introduction: Road traffic accidents involving motorbikes are a priority public health concern in Ghana. While there are local initiatives to address this public health challenge, little is known about motor riders’ knowledge and compliance with road safety regulations (RSR) and their association with RTAs. The aim of this study was, therefore, to assess motorbike riders’ knowledge and compliance with RSRs. Methodology: Motorbike riders in Hohoe Municipality were randomly sampled in a cross-sectional study in June 2022. Data were collected from 237 riders using a questionnaire designed in Kobocollect and administered by ten research assistants. A score of 70% or less is considered low for knowledge and compliance. The data were exported into Excel and imported into STATA 17 for analysis. A chi-square test was performed to generate descriptive and inferential statistics to establish the association between independent and dependent variables. Results: All 237 respondents were male, and each of them completed the questionnaire representing a 100% response rate. Participants who had knowledge about speed limit at different segments of the road were 59(24.9%), the use of helmet were 124 (52.3%), and alcohol use were 152 (64.1%). Participants who complied with regulations on speed limits, helmet use, and alcohol use were 108 (45.6%), 179(75.5%), and 168(70.8%), respectively. Riders who had at least junior high school education were 2.43 times more likely to adhere to RSR [cOR =2.43(95%CI= 1.15-6.33) p= 0.023] than those who had less education. Similarly, riders who had high knowledge about RSR were 2.07 times more likely to comply with RSR than those who had less knowledge [AOR= -2.07 (95% CI= 0.34-0.97), p=0.038]. Conclusion: Motor riders in the Hohoe Municipality had low knowledge as well as low compliance with road safety regulations. This could be a contributor to road traffic accidents. It is therefore recommended that road safety regulatory authorities and relevant stakeholders enhance the enforcement of RSR. There should also be country-specific efforts to increase awareness among all motor riders, especially those with less than junior high school education.

Keywords: compliance, motor riders, road safety regulations, road traffic accident

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1337 The Guideline of Overall Competitive Advantage Promotion with Key Success Paths

Authors: M. F. Wu, F. T. Cheng, C. S. Wu, M. C. Tan

Abstract:

It is a critical time to upgrade technology and increase value added with manufacturing skills developing and management strategies that will highly satisfy the customers need in the precision machinery global market. In recent years, the supply side, each precision machinery manufacturers in each country are facing the pressures of price reducing from the demand side voices that pushes the high-end precision machinery manufacturers adopts low-cost and high-quality strategy to retrieve the market. Because of the trend of the global market, the manufacturers must take price reducing strategies and upgrade technology of low-end machinery for differentiations to consolidate the market. By using six key success factors (KSFs), customer perceived value, customer satisfaction, customer service, product design, product effectiveness and machine structure quality are causal conditions to explore the impact of competitive advantage of the enterprise, such as overall profitability and product pricing power. This research uses key success paths (KSPs) approach and f/s QCA software to explore various combinations of causal relationships, so as to fully understand the performance level of KSFs and business objectives in order to achieve competitive advantage. In this study, the combination of a causal relationships, are called Key Success Paths (KSPs). The key success paths guide the enterprise to achieve the specific outcomes of business. The findings of this study indicate that there are thirteen KSPs to achieve the overall profitability, sixteen KSPs to achieve the product pricing power and seventeen KSPs to achieve both overall profitability and pricing power of the enterprise. The KSPs provide the directions of resources integration and allocation, improve utilization efficiency of limited resources to realize the continuous vision of the enterprise.

Keywords: precision machinery industry, key success factors (KSFs), key success paths (KSPs), overall profitability, product pricing power, competitive advantages

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1336 Economic Valuation of Environmental Services Sustained by Flamboyant Park in Goiania-Go, Brazil

Authors: Brenda R. Berca, Jessica S. Vieira, Lucas G. Candido, Matheus C. Ferreira, Paulo S. A. Lopes Filho, Rafaella O. Baracho

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This study aims to estimate the economic value environmental services sustained by Flamboyant Lourival Louza Municipal Park in Goiânia, Goiás, Brazil. The Flamboyant Park is one of the most relevant urban parks, and it is located near a stadium, a shopping center, and two supercenters. In order to define the methods used for the valuation of Flamboyant Park, the first step was carrying out bibliographical research with the view to better understand which method is most feasible to valuate the Park. Thus, the following direct methods were selected: travel cost, hedonic pricing, and contingent valuation. In addition, an indirect method (replacement cost) was applied at Flamboyant Park. The second step was creating and applying two surveys. The first survey aimed at the visitors of the park, addressing socio-economic issues, the use of the Park, as well as its importance and the willingness the visitors, had to pay for its existence. The second survey was destined to the existing trade in the Park, in order to collect data regarding the profits obtained by them. In the end, the characterization of the profile of the visitors and the application of the methods of contingent valuation, travel cost, replacement cost and hedonic pricing were obtained, thus monetarily valuing the various ecosystem services sustained by the park. Some services were not valued due to difficulties encountered during the process.

Keywords: contingent valuation, ecosystem services, economic environmental valuation, hedonic pricing, travel cost

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1335 Predicting Options Prices Using Machine Learning

Authors: Krishang Surapaneni

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The goal of this project is to determine how to predict important aspects of options, including the ask price. We want to compare different machine learning models to learn the best model and the best hyperparameters for that model for this purpose and data set. Option pricing is a relatively new field, and it can be very complicated and intimidating, especially to inexperienced people, so we want to create a machine learning model that can predict important aspects of an option stock, which can aid in future research. We tested multiple different models and experimented with hyperparameter tuning, trying to find some of the best parameters for a machine-learning model. We tested three different models: a Random Forest Regressor, a linear regressor, and an MLP (multi-layer perceptron) regressor. The most important feature in this experiment is the ask price; this is what we were trying to predict. In the field of stock pricing prediction, there is a large potential for error, so we are unable to determine the accuracy of the models based on if they predict the pricing perfectly. Due to this factor, we determined the accuracy of the model by finding the average percentage difference between the predicted and actual values. We tested the accuracy of the machine learning models by comparing the actual results in the testing data and the predictions made by the models. The linear regression model performed worst, with an average percentage error of 17.46%. The MLP regressor had an average percentage error of 11.45%, and the random forest regressor had an average percentage error of 7.42%

Keywords: finance, linear regression model, machine learning model, neural network, stock price

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1334 Cargo Securement Standards and Braking Maneuvers

Authors: Jose A. Romero, Frank Otremba, Alejandro A. Lozano-Guzman

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Road safety is affected by many factors, involving the vehicle, the infrastructure, and the environment. Many efforts have been thus made to improve road safety through rational standards for the different systems involved in freight transportation. Cargo shifting and falling have been recognized as critical and contributive effects for road crashes. To avoid such situations, regional and international standards have been implemented, aiming to prevent such types of cargo-related accidents. In particular, there are specific compulsory standard requirements to maintain the cargo on the vehicle without shifting, when the vehicle performs an emergency braking maneuver. In this paper, a simulation is presented to analyze the effect of the vibration of the cargo on the braking distance of the vehicle. Such vibration can lead to a poor cargo restraining, and higher braking efficiency, as a result of the decoupling of the cargo mass from the vehicle mass. Such higher braking efficiency, on the order of 4.4%, further suggests a greater demand for the current braking standards.

Keywords: road safety, cargo securement, shifting cargo, vehicle dynamics, ABS

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1333 Using Crowd-Sourced Data to Assess Safety in Developing Countries: The Case Study of Eastern Cairo, Egypt

Authors: Mahmoud Ahmed Farrag, Ali Zain Elabdeen Heikal, Mohamed Shawky Ahmed, Ahmed Osama Amer

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Crowd-sourced data refers to data that is collected and shared by a large number of individuals or organizations, often through the use of digital technologies such as mobile devices and social media. The shortage in crash data collection in developing countries makes it difficult to fully understand and address road safety issues in these regions. In developing countries, crowd-sourced data can be a valuable tool for improving road safety, particularly in urban areas where the majority of road crashes occur. This study is -to our best knowledge- the first to develop safety performance functions using crowd-sourced data by adopting a negative binomial structure model and the Full Bayes model to investigate traffic safety for urban road networks and provide insights into the impact of roadway characteristics. Furthermore, as a part of the safety management process, network screening has been undergone through applying two different methods to rank the most hazardous road segments: PCR method (adopted in the Highway Capacity Manual HCM) as well as a graphical method using GIS tools to compare and validate. Lastly, recommendations were suggested for policymakers to ensure safer roads.

Keywords: crowdsourced data, road crashes, safety performance functions, Full Bayes models, network screening

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1332 Road Traffic Accidents Analysis in Mexico City through Crowdsourcing Data and Data Mining Techniques

Authors: Gabriela V. Angeles Perez, Jose Castillejos Lopez, Araceli L. Reyes Cabello, Emilio Bravo Grajales, Adriana Perez Espinosa, Jose L. Quiroz Fabian

Abstract:

Road traffic accidents are among the principal causes of traffic congestion, causing human losses, damages to health and the environment, economic losses and material damages. Studies about traditional road traffic accidents in urban zones represents very high inversion of time and money, additionally, the result are not current. However, nowadays in many countries, the crowdsourced GPS based traffic and navigation apps have emerged as an important source of information to low cost to studies of road traffic accidents and urban congestion caused by them. In this article we identified the zones, roads and specific time in the CDMX in which the largest number of road traffic accidents are concentrated during 2016. We built a database compiling information obtained from the social network known as Waze. The methodology employed was Discovery of knowledge in the database (KDD) for the discovery of patterns in the accidents reports. Furthermore, using data mining techniques with the help of Weka. The selected algorithms was the Maximization of Expectations (EM) to obtain the number ideal of clusters for the data and k-means as a grouping method. Finally, the results were visualized with the Geographic Information System QGIS.

Keywords: data mining, k-means, road traffic accidents, Waze, Weka

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1331 Effect of Climate Change on Road Maintenance in Bangladesh

Authors: Mohammed Russedul Islam, Shah M. Muniruzzaman, M. Kamrul-Al-Masud, Syed Sadat Morshed

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Bangladesh is one of the most climate vulnerable countries in the world. According to scientists it is predicted that temperature will raise 1-3% and precipitation 20% by 2050 in Bangladesh. Increased temperature and precipitation will deteriorate pavement structure in an accelerated rate. The study has found that pavement life will reduce significantly due to rise in temperature and precipitation in in a coastal road in Bangladesh. It will cause to increase the maintenance cost of the road. The study has found that reduction in pavement life will be caused due the decrease in stiffness and strength parameters of the pavement material due to high temperature and precipitation. It has found that use of new material costlier than the existing one will be necessary to prevent the reduction of pavement life. Eventually it will increase the re-construction cost of the road. The study has used mechanistic-empirical analysis method with a software GAMES (General analysis on multi-layered elastic systems) to find out the effect of temperature and precipitation rise on the pavement life. The study will help to guide road engineers of Bangladesh to prepare in advance to fight with the climate change effect.

Keywords: climate change, maintenance cost, mechanistic-empirical method, pavement life

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1330 A Nonstandard Finite Difference Method for Weather Derivatives Pricing Model

Authors: Clarinda Vitorino Nhangumbe, Fredericks Ebrahim, Betuel Canhanga

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The price of an option weather derivatives can be approximated as a solution of the two-dimensional convection-diffusion dominant partial differential equation derived from the Ornstein-Uhlenbeck process, where one variable represents the weather dynamics and the other variable represent the underlying weather index. With appropriate financial boundary conditions, the solution of the pricing equation is approximated using a nonstandard finite difference method. It is shown that the proposed numerical scheme preserves positivity as well as stability and consistency. In order to illustrate the accuracy of the method, the numerical results are compared with other methods. The model is tested for real weather data.

Keywords: nonstandard finite differences, Ornstein-Uhlenbeck process, partial differential equations approach, weather derivatives

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1329 Analysis on Greenhouse Gas Emissions Potential by Deploying the Green Cars in Korean Road Transport Sector

Authors: Sungjun Hong, Yanghon Chung, Nyunbae Park, Sangyong Park

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South Korea, as the 7th largest greenhouse gas emitting country in 2011, announced that the national reduction target of greenhouse gas emissions was 30% based on BAU (Business As Usual) by 2020. And the reduction rate of the transport sector is 34.3% which is the highest figure among all sectors. This paper attempts to analyze the environmental effect on deploying the green cars in Korean road transport sector. In order to calculate the greenhouse gas emissions, the LEAP model is applied in this study.

Keywords: green car, greenhouse gas, LEAP model, road transport sector

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1328 Exploration and Evaluation of the Effect of Multiple Countermeasures on Road Safety

Authors: Atheer Al-Nuaimi, Harry Evdorides

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Every day many people die or get disabled or injured on roads around the world, which necessitates more specific treatments for transportation safety issues. International road assessment program (iRAP) model is one of the comprehensive road safety models which accounting for many factors that affect road safety in a cost-effective way in low and middle income countries. In iRAP model road safety has been divided into five star ratings from 1 star (the lowest level) to 5 star (the highest level). These star ratings are based on star rating score which is calculated by iRAP methodology depending on road attributes, traffic volumes and operating speeds. The outcome of iRAP methodology are the treatments that can be used to improve road safety and reduce fatalities and serious injuries (FSI) numbers. These countermeasures can be used separately as a single countermeasure or mix as multiple countermeasures for a location. There is general agreement that the adequacy of a countermeasure is liable to consistent losses when it is utilized as a part of mix with different countermeasures. That is, accident diminishment appraisals of individual countermeasures cannot be easily added together. The iRAP model philosophy makes utilization of a multiple countermeasure adjustment factors to predict diminishments in the effectiveness of road safety countermeasures when more than one countermeasure is chosen. A multiple countermeasure correction factors are figured for every 100-meter segment and for every accident type. However, restrictions of this methodology incorporate a presumable over-estimation in the predicted crash reduction. This study aims to adjust this correction factor by developing new models to calculate the effect of using multiple countermeasures on the number of fatalities for a location or an entire road. Regression models have been used to establish relationships between crash frequencies and the factors that affect their rates. Multiple linear regression, negative binomial regression, and Poisson regression techniques were used to develop models that can address the effectiveness of using multiple countermeasures. Analyses are conducted using The R Project for Statistical Computing showed that a model developed by negative binomial regression technique could give more reliable results of the predicted number of fatalities after the implementation of road safety multiple countermeasures than the results from iRAP model. The results also showed that the negative binomial regression approach gives more precise results in comparison with multiple linear and Poisson regression techniques because of the overdispersion and standard error issues.

Keywords: international road assessment program, negative binomial, road multiple countermeasures, road safety

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1327 Evaluation of External Costs of Traffic Accident in Slovak Republic

Authors: Anna Dolinayova, Jozef Danis, Juraj Camaj

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The report deals with comparison of traffic accidents in Slovak republic in road and rail transport since year 2009 until 2014, with evaluation of external costs and consequently with the possibilities of their internalization. The results of road traffic accidents analysis are realized in line with after-effects they have caused; in line with main cause, place of origin (within or out of town) and in accordance to age of people they were killed or hard, eventually easy injured in traffic accidents. Evaluation of individual after-effects is carried in terms of probability of traffic accidents occurrence.

Keywords: external costs, traffic accident, rail transport, road transport

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1326 Pricing, Production and Inventory Policies Manufacturing under Stochastic Demand and Continuous Prices

Authors: Masoud Rabbani, Majede Smizadeh, Hamed Farrokhi-Asl

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We study jointly determining prices and production in a multiple period horizon under a general non-stationary stochastic demand with continuous prices. In some periods we need to increase capacity of production to satisfy demand. This paper presents a model to aid multi-period production capacity planning by quantifying the trade-off between product quality and production cost. The product quality is estimated as the statistical variation from the target performances obtained from the output tolerances of the production machines that manufacture the components. We consider different tolerance for different machines that use to increase capacity. The production cost is estimated as the total cost of owning and operating a production facility during the planning horizon.so capacity planning has cost that impact on price. Pricing products often turns out to be difficult to measure them because customers have a reservation price to pay that impact on price and demand. We decide to determine prices and production for periods after enhance capacity and consider reservation price to determine price. First we use an algorithm base on fuzzy set of the optimal objective function values to determine capacity planning by determine maximize interval from upper bound in minimum objectives and define weight for objectives. Then we try to determine inventory and pricing policies. We can use a lemma to solve a problem in MATLAB and find exact answer.

Keywords: price policy, inventory policy, capacity planning, product quality, epsilon -constraint

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1325 Joint Optimal Pricing and Lot-Sizing Decisions for an Advance Sales System under Stochastic Conditions

Authors: Maryam Ghoreishi, Christian Larsen

Abstract:

In this paper, we investigate the effect of stochastic inputs on problem of joint optimal pricing and lot-sizing decisions where the inventory cycle is divided into advance and spot sales periods. During the advance sales period, customer can make reservations while customer with reservations can cancel their order. However, during the spot sales period customers receive the order as soon as the order is placed, but they cannot make any reservation or cancellation during that period. We assume that the inter arrival times during the advance sales and spot sales period are exponentially distributed where the arrival rate is decreasing function of price. Moreover, we assume that the number of cancelled reservations is binomially distributed. In addition, we assume that deterioration process follows an exponential distribution. We investigate two cases. First, we consider two-state case where we find the optimal price during the spot sales period and the optimal price during the advance sales period. Next, we develop a generalized case where we extend two-state case also to allow dynamic prices during the spot sales period. We apply the Markov decision theory in order to find the optimal solutions. In addition, for the generalized case, we apply the policy iteration algorithm in order to find the optimal prices, the optimal lot-size and maximum advance sales amount.

Keywords: inventory control, pricing, Markov decision theory, advance sales system

Procedia PDF Downloads 325
1324 Unattended Crowdsensing Method to Monitor the Quality Condition of Dirt Roads

Authors: Matias Micheletto, Rodrigo Santos, Sergio F. Ochoa

Abstract:

In developing countries, the most roads in rural areas are dirt road. They require frequent maintenance since are affected by erosive events, such as rain or wind, and the transit of heavy-weight trucks and machinery. Early detection of damages on the road condition is a key aspect, since it allows to reduce the main-tenance time and cost, and also the limitations for other vehicles to travel through. Most proposals that help address this problem require the explicit participation of drivers, a permanent internet connection, or important instrumentation in vehicles or roads. These constraints limit the suitability of these proposals when applied into developing regions, like in Latin America. This paper proposes an alternative method, based on unattended crowdsensing, to determine the quality of dirt roads in rural areas. This method involves the use of a mobile application that complements the road condition surveys carried out by organizations in charge of the road network maintenance, giving them early warnings about road areas that could be requiring maintenance. Drivers can also take advantage of the early warnings while they move through these roads. The method was evaluated using information from a public dataset. Although they are preliminary, the results indicate the proposal is potentially suitable to provide awareness about dirt roads condition to drivers, transportation authority and road maintenance companies.

Keywords: dirt roads automatic quality assessment, collaborative system, unattended crowdsensing method, roads quality awareness provision

Procedia PDF Downloads 201
1323 On-Road Text Detection Platform for Driver Assistance Systems

Authors: Guezouli Larbi, Belkacem Soundes

Abstract:

The automation of the text detection process can help the human in his driving task. Its application can be very useful to help drivers to have more information about their environment by facilitating the reading of road signs such as directional signs, events, stores, etc. In this paper, a system consisting of two stages has been proposed. In the first one, we used pseudo-Zernike moments to pinpoint areas of the image that may contain text. The architecture of this part is based on three main steps, region of interest (ROI) detection, text localization, and non-text region filtering. Then, in the second step, we present a convolutional neural network architecture (On-Road Text Detection Network - ORTDN) which is considered a classification phase. The results show that the proposed framework achieved ≈ 35 fps and an mAP of ≈ 90%, thus a low computational time with competitive accuracy.

Keywords: text detection, CNN, PZM, deep learning

Procedia PDF Downloads 84
1322 Evaluation of Weather Risk Insurance for Agricultural Products Using a 3-Factor Pricing Model

Authors: O. Benabdeljelil, A. Karioun, S. Amami, R. Rouger, M. Hamidine

Abstract:

A model for preventing the risks related to climate conditions in the agricultural sector is presented. It will determine the yearly optimum premium to be paid by a producer in order to reach his required turnover. The model is based on both climatic stability and 'soft' responses of usually grown species to average climate variations at the same place and inside a safety ball which can be determined from past meteorological data. This allows the use of linear regression expression for dependence of production result in terms of driving meteorological parameters, the main ones of which are daily average sunlight, rainfall and temperature. By simple best parameter fit from the expert table drawn with professionals, optimal representation of yearly production is determined from records of previous years, and yearly payback is evaluated from minimum yearly produced turnover. The model also requires accurate pricing of commodity at N+1. Therefore, a pricing model is developed using 3 state variables, namely the spot price, the difference between the mean-term and the long-term forward price, and the long-term structure of the model. The use of historical data enables to calibrate the parameters of state variables, and allows the pricing of commodity. Application to beet sugar underlines pricer precision. Indeed, the percentage of accuracy between computed result and real world is 99,5%. Optimal premium is then deduced and gives the producer a useful bound for negotiating an offer by insurance companies to effectively protect its harvest. The application to beet production in French Oise department illustrates the reliability of present model with as low as 6% difference between predicted and real data. The model can be adapted to almost any agricultural field by changing state parameters and calibrating their associated coefficients.

Keywords: agriculture, production model, optimal price, meteorological factors, 3-factor model, parameter calibration, forward price

Procedia PDF Downloads 377
1321 An Evaluation of the Lae City Road Network Improvement Project

Authors: Murray Matarab Konzang

Abstract:

Lae Port Development Project, Four Lane Highway and other development in the extraction industry which have direct road link to Lae City are predicted to have significant impact on its road network system. This paper evaluates Lae roads improvement program with forecast on planning, economic and the installation of bypasses to ease congestion, effective and convenient transport service for bulk goods and reduce travel time. Land-use transportation study and plans for local area traffic management scheme will be considered. City roads are faced with increased number of traffic and some inadequate road pavement width, poor transport plans, and facilities to meet this transportation demand. Lae also has drainage system which might not hold a 100 year flood. Proper evaluation, plan, design and intersection analysis is needed to evaluate road network system thus recommend improvement and estimate future growth. Repetitive and cyclic loading by heavy commercial vehicles with different axle configurations apply on the flexible pavement which weakens and tear the pavement surface thus small cracks occur. Rain water seeps through and overtime it creates potholes. Effective planning starts from experimental research and appropriate design standards to enable firm embankment, proper drains and quality pavement material. This paper will address traffic problems as well as road pavement, capacities of intersections, and pedestrian flow during peak hours. The outcome of this research will be to identify heavily trafficked road sections and recommend treatments to reduce traffic congestions, road classification, and proposal for bypass routes and improvement. First part of this study will describe transport or traffic related problems within the city. Second part would be to identify challenges imposed by traffic and road related problems and thirdly to recommend solutions after the analyzing traffic data that will indicate current capacities of road intersections and finally recommended treatment for improvement and future growth.

Keywords: Lae, road network, highway, vehicle traffic, planning

Procedia PDF Downloads 359
1320 Risk Analysis in Road Transport of Dangerous Goods Using Complex Multi-Criteria Analysis Method

Authors: Zoran Masoničić, Siniša Dragutinović, Ivan Lazović

Abstract:

In the management and organization of the road transport of dangerous goods, in addition to the existing influential criteria and restrictions that apply to the road transport in general, it is necessary to include an additional criteria related to the safety of people and the environment, considering the danger that comes from the substances being transported. In that manner, the decision making process becomes very complex and rather challenging task that is inherent to the application of complex numerical multi-criteria analysis methods. In this paper some initial results of application of complex analysis method in decision making process are presented. Additionally, the method for minimization or even complete elimination of subjective element in the decision making process is provided. The results obtained can be used in order to point the direction towards some measures have to be applied in order to minimize or completely annihilate the influence of the risk source identified.

Keywords: road transport, dangerous goods, risk analysis, risk evaluation

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1319 An Experimental Investigation into Fluid Forces on Road Vehicles in Unsteady Flows

Authors: M. Sumida, S. Morita

Abstract:

In this research, the effect of unsteady flows acting on road vehicles was experimentally investigated, using an advanced and recently introduced wind tunnel. The aims of this study were to extract the characteristics of fluid forces acting on road vehicles under unsteady wind conditions and obtain new information on drag forces in a practical on-road test. We applied pulsating wind as a representative example of the atmospheric fluctuations that vehicles encounter on the road. That is, we considered the case where the vehicles are moving at constant speed in the air, with large wind oscillations. The experimental tests were performed on the Ahmed-type test model, which is a simplified vehicle model. This model was chosen because of its simplicity and the data accumulated under steady wind conditions. The experiments were carried out with a time-averaged Reynolds number of Re = 4.16x10⁵ and a pulsation period of T = 1.5 s, with amplitude of η = 0.235. Unsteady fluid forces of drag and lift were obtained utilizing a multi-component load cell. It was observed that the unsteady aerodynamic forces differ significantly from those under steady wind conditions. They exhibit a phase shift and an enhanced response to the wind oscillations. Furthermore, their behavior depends on the slant angle of the rear shape of the model.

Keywords: Ahmed body, automotive aerodynamics, unsteady wind, wind tunnel test

Procedia PDF Downloads 294