Search results for: material choice
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 7966

Search results for: material choice

7966 Enhancement of Tribological Behavior for Diesel Engine Piston of Solid Skirt by an Optimal Choice of Interface Material

Authors: M. Amara, M. Tahar Abbes, A. Dokkiche, M. Benbrike

Abstract:

Shear stresses generate frictional forces thus lead to the reduction of engine performance due to the power losses. This friction can also cause damage to the piston material. Thus, the choice of an optimal material for the piston is necessary to improve the elastohydrodynamical contacts of the piston. In this study, to achieve this objective, an elastohydrodynamical lubrication model that satisfies the best tribological behavior of the piston with the optimum choice of material is developed. Several aluminum alloys composed of different components are studied in this simulation. An application is made on the piston 60 x 120 mm Diesel engine type F8L413 currently mounted on Deutz trucks TB230 by using different aluminum alloys where alloys based on aluminum-silicon have better tribological performance.

Keywords: EHD lubricated contacts, friction, properties of materials, tribological performance

Procedia PDF Downloads 247
7965 Material Selection for Footwear Insole Using Analytical Hierarchal Process

Authors: Mohammed A. Almomani, Dina W. Al-Qudah

Abstract:

Product performance depends on the type and quality of its building material. Successful product must be made using high quality material, and using the right methods. Many foot problems took place as a result of using poor insole material. Therefore, selecting a proper insole material is crucial to eliminate these problems. In this study, the analytical hierarchy process (AHP) is used to provide a systematic procedure for choosing the best material adequate for this application among three material alternatives (polyurethane, poron, and plastzote). Several comparison criteria are used to build the AHP model including: density, stiffness, durability, energy absorption, and ease of fabrication. Poron was selected as the best choice. Inconsistency testing indicates that the model is reasonable, and the materials alternative ranking is effective.

Keywords: AHP, footwear insole, insole material, materials selection

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7964 Choice of Sleeper and Rail Fastening Using Linear Programming Technique

Authors: Luciano Oliveira, Elsa Vásquez-Alvarez

Abstract:

The increase in rail freight transport in Brazil in recent years requires new railway lines and the maintenance of existing ones, which generates high costs for concessionaires. It is in this context that this work is inserted, whose objective is to propose a method that uses Binary Linear Programming for the choice of sleeper and rail fastening, from various options, including the way to apply these materials, with focus to minimize costs. Unit value information, the life cycle each of material type, and service expenses are considered. The model was implemented in commercial software using real data for its validation. The formulated model can be replicated to support decision-making for other railway projects in the choice of sleepers and rail fastening with lowest cost.

Keywords: linear programming, rail fastening, rail sleeper, railway

Procedia PDF Downloads 176
7963 Impact on Cost of Equity of Accounting and Disclosures

Authors: Abhishek Ranga

Abstract:

The study examined the effect of accounting choice and level of disclosure on the firm’s implied cost of equity in Indian environment. For the study accounting choice was classified as aggressive or conservative depending upon the firm’s choice of accounting methods, accounting policies and accounting estimates. Level of disclosure is the quantum of financial and non-financial information disclosed in firm’s annual report, essentially in note to accounts section, schedules forming part of financial statements and Management Discussion and Analysis report. Regression models were developed with cost of equity as a dependent variable and accounting choice, level of disclosure as an independent variable along with selected control variables. Cost of equity was measured using Edward-Bell-Ohlson (EBO) valuation model, to measure accounting choice Modified-Jones-Model (MJM) was used and level of disclosure was measured using a disclosure index essentially drawn from Botosan study. Results indicated a negative association between the implied cost of equity and conservative accounting choice and also between level of disclosure and cost of equity.

Keywords: aggressive accounting choice, conservative accounting choice, disclosure, implied cost of equity

Procedia PDF Downloads 436
7962 The Effect of Fast Food Globalisation on Students’ Food Choice

Authors: Ijeoma Chinyere Ukonu

Abstract:

This research seeks to investigate how the globalisation of fast food has affected students’ food choice. A mixed method approach was used in this research; basically involving quantitative and qualitative methods. The quantitative method uses a self-completion questionnaire to randomly sample one hundred and four students; while the qualitative method uses a semi structured interview technique to survey four students on their knowledge and choice to consume fast food. A cross tabulation of variables and the Kruskal Wallis nonparametric test were used to analyse the quantitative data; while the qualitative data was analysed through deduction of themes, and trends from the interview transcribe. The findings revealed that globalisation has amplified the evolution of fast food, popularising it among students. Its global presence has affected students’ food choice and preference. Price, convenience, taste, and peer influence are some of the major factors affecting students’ choice of fast food. Though, students are familiar with the health effect of fast food and the significance of using food information labels for healthy choice making, their preference of fast food is more than homemade food.

Keywords: fast food, food choice, globalisation, students

Procedia PDF Downloads 267
7961 Modelling Mode Choice Behaviour Using Cloud Theory

Authors: Leah Wright, Trevor Townsend

Abstract:

Mode choice models are crucial instruments in the analysis of travel behaviour. These models show the relationship between an individual’s choice of transportation mode for a given O-D pair and the individual’s socioeconomic characteristics such as household size and income level, age and/or gender, and the features of the transportation system. The most popular functional forms of these models are based on Utility-Based Choice Theory, which addresses the uncertainty in the decision-making process with the use of an error term. However, with the development of artificial intelligence, many researchers have started to take a different approach to travel demand modelling. In recent times, researchers have looked at using neural networks, fuzzy logic and rough set theory to develop improved mode choice formulas. The concept of cloud theory has recently been introduced to model decision-making under uncertainty. Unlike the previously mentioned theories, cloud theory recognises a relationship between randomness and fuzziness, two of the most common types of uncertainty. This research aims to investigate the use of cloud theory in mode choice models. This paper highlights the conceptual framework of the mode choice model using cloud theory. Merging decision-making under uncertainty and mode choice models is state of the art. The cloud theory model is expected to address the issues and concerns with the nested logit and improve the design of mode choice models and their use in travel demand.

Keywords: Cloud theory, decision-making, mode choice models, travel behaviour, uncertainty

Procedia PDF Downloads 354
7960 The Value of Store Choice Criteria on Perceived Patronage Intentions

Authors: Susana Marques

Abstract:

Research on how store environment cues influence consumers’ store choice decision criteria, such as store operations, product quality, monetary price, store image and sales promotion, is sparse. Especially absent research on the simultaneous impact of multiple store environment cues. The authors propose a comprehensive store choice model that includes: three types of store environment cues as exogenous constructs; various store choice criteria as possible mediating constructs, and store patronage intentions as an endogenous construct. On the basis of testing with a sample of 561 customers of hypermarkets, the model is partially supported. This study used structural equation modelling to test the proposed model.

Keywords: store choice, store patronage, structural equation modelling, retailing

Procedia PDF Downloads 250
7959 Material Choice Driving Sustainability of 3D Printing

Authors: Jeremy Faludi, Zhongyin Hu, Shahd Alrashed, Christopher Braunholz, Suneesh Kaul, Leulekal Kassaye

Abstract:

Environmental impacts of six 3D printers using various materials were compared to determine if material choice drove sustainability, or if other factors such as machine type, machine size, or machine utilization dominate. Cradle-to-grave life-cycle assessments were performed, comparing a commercial-scale FDM machine printing in ABS plastic, a desktop FDM machine printing in ABS, a desktop FDM machine printing in PET and PLA plastics, a polyjet machine printing in its proprietary polymer, an SLA machine printing in its polymer, and an inkjet machine hacked to print in salt and dextrose. All scenarios were scored using ReCiPe Endpoint H methodology to combine multiple impact categories, comparing environmental impacts per part made for several scenarios per machine. Results showed that most printers’ ecological impacts were dominated by electricity use, not materials, and the changes in electricity use due to different plastics was not significant compared to variation from one machine to another. Variation in machine idle time determined impacts per part most strongly. However, material impacts were quite important for the inkjet printer hacked to print in salt: In its optimal scenario, it had up to 1/38th the impacts coreper part as the worst-performing machine in the same scenario. If salt parts were infused with epoxy to make them more physically robust, then much of this advantage disappeared, and material impacts actually dominated or equaled electricity use. Future studies should also measure DMLS and SLS processes / materials.

Keywords: 3D printing, additive manufacturing, sustainability, life-cycle assessment, design for environment

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7958 Change in Food Choice Behavior: Trend and Challenges

Authors: Gargi S. Kumar, Mrinmoyi Kulkarni

Abstract:

Food choice behavior is complex and determined by biological, psychological, socio-cultural, and economic factors. The past two decades, have seen dramatic changes in food consumption patterns among urban Indian consumers. The objective of the current study was to evaluate perceptions about changes with respect to food choice behavior. Ten participants [urban men and women] ranging in age from 40 to 65 were selected and in-depth interviews were conducted with a set of open ended questions. The recorded interviews were transcribed and thematically analyzed using inductive, open and axial coding. The results identified themes that act as drivers and consequences of change in food choice behavior. Drivers such as globalization [sub themes of urbanization, education, income, and work environment], media and advertising, changing gender roles, women in the workforce, and change in family structure have influenced food choice, both at an individual and national level. The consequences of changes in food choice were health implications, processed food consumption, food decisions driven by children and eating out among others. The study reveals that, over time, food choices change and evolve. However it is interesting to note how market forces and culture interact to influence individual behavior and the overall food environment which subsequently affects food choice and the health of the people.

Keywords: change, consequences, drivers, food choice, globalization

Procedia PDF Downloads 197
7957 The Effect of Multi-Stakeholder Extension Services towards Crop Choice and Farmer's Income, the Case of the Arc High Value Crop Programme

Authors: Joseph Sello Kau, Elias Mashayamombe, Brian Washington Madinkana, Cynthia Ngwane

Abstract:

This paper presents the results for the statistical (stepwise linear regression and multiple regression) analyses, carried out on a number of crops in order to evaluate how the decision for crop choice affect the level of farm income generated by the farmers participating in the High Value Crop production (referred to as the HVC). The goal of the HVC is to encourage farmers cultivate fruit crops. The farmers received planting material from different extension agencies, together with other complementary packages such as fertilizer, garden tools, water tanks etc. During the surveys, it was discovered that a significant number of farmers were cultivating traditional crops even when their plot sizes were small. Traditional crops are competing for resources with high value crops. The results of the analyses show that farmers cultivating fruit crops, maize and potatoes were generating high income than those cultivating spinach and cabbage. High farm income is associated with plot size, access to social grants and gender. Choice for a crop is influenced by the availability of planting material and the market potential for the crop. Extension agencies providing the planting materials stand a good chance of having farmers follow their directives. As a recommendation, for the farmers to cultivate more of the HVCs, the ARC must intensify provision of fruit trees.

Keywords: farm income, nature of extension services, type of crops cultivated, fruit crops, cabbage, maize, potato and spinach

Procedia PDF Downloads 289
7956 Kinematic Hardening Parameters Identification with Respect to Objective Function

Authors: Marina Franulovic, Robert Basan, Bozidar Krizan

Abstract:

Constitutive modelling of material behaviour is becoming increasingly important in prediction of possible failures in highly loaded engineering components, and consequently, optimization of their design. In order to account for large number of phenomena that occur in the material during operation, such as kinematic hardening effect in low cycle fatigue behaviour of steels, complex nonlinear material models are used ever more frequently, despite of the complexity of determination of their parameters. As a method for the determination of these parameters, genetic algorithm is good choice because of its capability to provide very good approximation of the solution in systems with large number of unknown variables. For the application of genetic algorithm to parameter identification, inverse analysis must be primarily defined. It is used as a tool to fine-tune calculated stress-strain values with experimental ones. In order to choose proper objective function for inverse analysis among already existent and newly developed functions, the research is performed to investigate its influence on material behaviour modelling.

Keywords: genetic algorithm, kinematic hardening, material model, objective function

Procedia PDF Downloads 298
7955 Modeling Route Selection Using Real-Time Information and GPS Data

Authors: William Albeiro Alvarez, Gloria Patricia Jaramillo, Ivan Reinaldo Sarmiento

Abstract:

Understanding the behavior of individuals and the different human factors that influence the choice when faced with a complex system such as transportation is one of the most complicated aspects of measuring in the components that constitute the modeling of route choice due to that various behaviors and driving mode directly or indirectly affect the choice. During the last two decades, with the development of information and communications technologies, new data collection techniques have emerged such as GPS, geolocation with mobile phones, apps for choosing the route between origin and destination, individual service transport applications among others, where an interest has been generated to improve discrete choice models when considering the incorporation of these developments as well as psychological factors that affect decision making. This paper implements a discrete choice model that proposes and estimates a hybrid model that integrates route choice models and latent variables based on the observation on the route of a sample of public taxi drivers from the city of Medellín, Colombia in relation to its behavior, personality, socioeconomic characteristics, and driving mode. The set of choice options includes the routes generated by the individual service transport applications versus the driver's choice. The hybrid model consists of measurement equations that relate latent variables with measurement indicators and utilities with choice indicators along with structural equations that link the observable characteristics of drivers with latent variables and explanatory variables with utilities.

Keywords: behavior choice model, human factors, hybrid model, real time data

Procedia PDF Downloads 115
7954 Linear Decoding Applied to V5/MT Neuronal Activity on Past Trials Predicts Current Sensory Choices

Authors: Ben Hadj Hassen Sameh, Gaillard Corentin, Andrew Parker, Kristine Krug

Abstract:

Perceptual decisions about sequences of sensory stimuli often show serial dependence. The behavioural choice on one trial is often affected by the choice on previous trials. We investigated whether the neuronal signals in extrastriate visual area V5/MT on preceding trials might influence choice on the current trial and thereby reveal the neuronal mechanisms of sequential choice effects. We analysed data from 30 single neurons recorded from V5/MT in three Rhesus monkeys making sequential choices about the direction of rotation of a three-dimensional cylinder. We focused exclusively on the responses of neurons that showed significant choice-related firing (mean choice probability =0.73) while the monkey viewed perceptually ambiguous stimuli. Application of a wavelet transform to the choice-related firing revealed differences in the frequency band of neuronal activity that depended on whether the previous trial resulted in a correct choice for an unambiguous stimulus that was in the neuron’s preferred direction (low alpha and high beta and gamma) or non-preferred direction (high alpha and low beta and gamma). To probe this in further detail, we applied a regularized linear decoder to predict the choice for an ambiguous trial by referencing the neuronal activity of the preceding unambiguous trial. Neuronal activity on a previous trial provided a significant prediction of the current choice (61% correc, 95%Cl~52%t), even when limiting analysis to preceding trials that were correct and rewarded. These findings provide a potential neuronal signature of sequential choice effects in the primate visual cortex.

Keywords: perception, decision making, attention, decoding, visual system

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7953 A Comparative Study of School Choice: China and the United States

Authors: Huizi Zeng

Abstract:

This paper delineates the historical retrospective and current status of school choice in China. Focusing on analyzing the similarities and differences in origin, evolution, public dispute, policy dynamics between China and the United States, the article depicts a panorama and explores possible causes. Both China and the United States continue to learn from historical legacy and invent new programs to perfect school choice policy but the outcomes are so different. On the one hand, the percentage of public schools in China remains high all along, while there is a considerably significant reduction in the United States. On the other hand, there is more governmental intervention in the United States with continuous and constant policy updates and adjustment. Finally, this article adopts public-private partnerships (PPP) to seek to provide insights into differences between the two countries and argue that school choice is not only the production of education marketization and corporation but also driven by political mechanism.

Keywords: China, United States, school choice, comparative analysis, policy, public private partnerships

Procedia PDF Downloads 152
7952 Modeling User Departure Time Choice for Trips in Urban Streets

Authors: Saeed Sayyad Hagh Shomar

Abstract:

Modeling users’ decisions on departure time choice is the main motivation for this research. In particular, it examines the impact of social-demographic features, household, job characteristics and trip qualities on individuals’ departure time choice. Departure time alternatives are presented as adjacent discrete time periods. The choice between these alternatives is done using a discrete choice model. Since a great deal of early morning trips and traffic congestion at that time of the day comprise work trips, the focus of this study is on the work trip over the entire day. Therefore, this study by using questionnaire of stated preference models users’ departure time choice affected by congestion pricing plan in downtown Tehran. Experimental results demonstrate efficient social-demographic impact on work trips’ departure time. These findings have substantial outcomes for the analysis of transportation planning. Particularly, the analysis shows that ignoring the effects of these variables could result in erroneous information and consequently decisions in the field of transportation planning and air quality would fail and cause financial resources loss.

Keywords: modeling, departure time, travel timing, time of the day, congestion pricing, transportation planning

Procedia PDF Downloads 409
7951 The Effect of Cassava Starch on Compressive Strength and Tear Strength of Alginate Impression Material

Authors: Mirna Febriani

Abstract:

Statement of problem. Alginate impression material is an imported material and a dentist always used this material to make impression of teeth and oral cavity tissues. Purpose. The aim of this study was to compare about compressive strength and tear strength of alginate impression material and alginate impression material combined with cassava. Material and methods.Property measured included compressive strength and tear strength. Results.The compressive strength and tear strength of the impression materials tested of a comparable ANSI/ADA standard no.18.The compressive strength and tear strength alginate impression material combined with cassava have lower than the compressive strength and tear strength alginate impression material. The alginate impression material combined with cassava has more water and silica content more decrease than alginate impression material. Conclusions.We concluded that compressive strength and tear strength of alginate impression material combined with cassava has lower than alginate impression material without cassava starch.

Keywords: compressive strength, tear strength, Cassava starch, alginate

Procedia PDF Downloads 369
7950 An Assessment of Existing Material Management Process in Building Construction Projects in Nepal

Authors: Uttam Neupane, Narendra Budha, Subash Kumar Bhattarai

Abstract:

Material management is an essential part in construction project management. There are a number of material management problems in the Nepalese construction industry, which contribute to an inefficient material management system. Ineffective material management can cause waste of time and money thus increasing the problem of time and cost overrun. An assessment of material management system with gap and solution was carried out on 20 construction projects implemented by the Federal Level Project Implementation Unit (FPIU); Kaski district of Nepal. To improve the material management process, the respondents have provided possible solutions to overcome the gaps seen in the current material management process. The possible solutions are preparation of material schedule in line with the construction schedule for material requirement planning, verifications of material and locating of source, purchasing of the required material in advance before commencement of work, classifying the materials, and managing the inventory based on their usage value and eliminating and reduction in wastages during the overall material management process.

Keywords: material management, construction site, inventory, construction project

Procedia PDF Downloads 31
7949 E-Consumers’ Attribute Non-Attendance Switching Behavior: Effect of Providing Information on Attributes

Authors: Leonard Maaya, Michel Meulders, Martina Vandebroek

Abstract:

Discrete Choice Experiments (DCE) are used to investigate how product attributes affect decision-makers’ choices. In DCEs, choice situations consisting of several alternatives are presented from which choice-makers select the preferred alternative. Standard multinomial logit models based on random utility theory can be used to estimate the utilities for the attributes. The overarching principle in these models is that respondents understand and use all the attributes when making choices. However, studies suggest that respondents sometimes ignore some attributes (commonly referred to as Attribute Non-Attendance/ANA). The choice modeling literature presents ANA as a static process, i.e., respondents’ ANA behavior does not change throughout the experiment. However, respondents may ignore attributes due to changing factors like availability of information on attributes, learning/fatigue in experiments, etc. We develop a dynamic mixture latent Markov model to model changes in ANA when information on attributes is provided. The model is illustrated on e-consumers’ webshop choices. The results indicate that the dynamic ANA model describes the behavioral changes better than modeling the impact of information using changes in parameters. Further, we find that providing information on attributes leads to an increase in the attendance probabilities for the investigated attributes.

Keywords: choice models, discrete choice experiments, dynamic models, e-commerce, statistical modeling

Procedia PDF Downloads 108
7948 Consumer Choice Determinants in Context of Functional Food

Authors: E. Grochowska-Niedworok, K. Brukało, M. Kardas

Abstract:

The aim of this study was to analyze and evaluate the consumption of functional food by consumers by: age, sex, formal education level, place of residence and diagnosed diseases. The study employed an ad hoc questionnaire in a group of 300 inhabitants of Upper Silesia voivodship. Knowledge of functional food among the group covered in the study was far from satisfactory. The choice of functional food was of intuitive character. In addition, the group covered was more likely to choose pharmacotherapy instead of diet-related prevention then, which can be associated with presumption of too distant effects and a long period of treatment.

Keywords: consumer choice, functional food, healthy lifestyle, consumer knowledge

Procedia PDF Downloads 233
7947 Biography and Psychotherapy: Oral History Interviews with Psychotherapists

Authors: Barbara Papp

Abstract:

Purpose: This article aims to rethink the relationship between the trauma and the choice of professions. By studying a homogenous sample of respondents, it seeks answers to the following question: how did personal losses that were caused by historical upheavals motivate people to enter the helping professions. By becoming helping professionals, the respondents of the survey sought to handle both historical representation and self-representation. How did psychotherapists working in the second half of the 20th century (Kádár-era in Hungary) shape their course of life? How did their family members respond to their choice of career? What forces supported or hindered them? How did they become professional helpers? Methodology: When interviewing 40 psychotherapists, the interviewer used the oral history technique. In-depth interviews were made with a focus on motivation. First, the collected material was examined using traditional content analysis tools: searching for content patterns, applying a word frequency analysis, and identifying the connections between key events and key persons. Second, a narrative psychological content analysis (NarrCat) was made. Findings: Interconnections were established between attachment, family and historical traumas and career choices. The history of the mid-20th-century period was traumatic and full of losses for the families of most of the psychotherapists concerned. Those experiences may have considerably influenced their choice of career. Working as helping therapists, they could get the opportunity to revise their losses. Conclusion: The results revealed core components that play a role in the psychotherapists’ choice of career, and also emphasized the importance of post-traumatic growth.

Keywords: biography, identity, narrative psychological content analysis, psychotherapists, trauma

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7946 Influence of Vocational Guidance Services in Determining the Career Choice of Secondary School Students in Enugu State, Nigeria

Authors: Egbo Anthonia Chinonyelum

Abstract:

This study was designed to identify the extent of the influence of vocational guidance services on career choice of secondary school students in Enugu State. The study was guided by two research questions and two null hypotheses tested at 0.05 level of significance. A sample of 1,054 respondents made of teachers, students and counsellors drawn from the 34 secondary schools from the six educational zones of Enugu State Nigeria was used for the study. The researcher administered the research instruments generated from the randomly selected senior secondary schools from the six educational zones in Enugu State. The data collected from the respondents were analyzed using mean statistics drawn from the responses of senior secondary school students, counsellor and teacher to the questionnaire item. Four point scale was used to measure the opinion of the respondents, such that after the statistical analysis, those items in the questionnaire that have the mean rate of 2.5 and is of great level of influence on the career choice of students. While questionnaire item with the mean below 2.5 were taken as having little extent of influence on career choice of students. The findings in this work showed that there was little extent on the influence of vocational guidance on career choice, choice of subjects and positive attitude of students towards vocational guidance. Based on the findings the researcher recommended that government and other relevant authorities should help by creating the awareness of vocational guidance programme in Schools.

Keywords: vocation, guidance, counselling, services, career, choice

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7945 The Effects of Early Maternal Separation on Risky Choice in Rats

Authors: Osvaldo Collazo, Cristiano Valerio Dos Santos

Abstract:

Early maternal separation has been shown to bring about many negative effects on behavior in rats. In the present study, we evaluated the effects of early maternal separation on risky choice in rats. One group of male and female Wistar rats was exposed to an early maternal separation protocol while a control group was left undisturbed. Then both groups were exposed to a series of behavioral tests, including a test of risky choice, where one alternative offered a constant reward while the other offered a variable reward. There was a difference between groups when they chose between a variable and a constant reward delay, but no other difference was significant. These results suggest that early maternal separation may be related to a greater preference for shorter delays, which is characteristic of more impulsive choices.

Keywords: early maternal separation, impulsivity, risky choice, variability

Procedia PDF Downloads 229
7944 Modeling User Departure Time Choice for Work Trips in High Traffic Suburban Roads

Authors: Saeed Sayyad Hagh Shomar

Abstract:

Modeling users’ decisions on departure time choice is the main motivation for this research. In particular, it examines the impact of social-demographic features, household, job characteristics and trip qualities on individuals’ departure time choice. Departure time alternatives are presented as adjacent discrete time periods. The choice between these alternatives is done using a discrete choice model. Since a great deal of early morning trips and traffic congestion at that time of the day comprise work trips, the focus of this study is on the work trip over the entire day. Therefore, this study by using the users’ stated preference in questionnaire models users’ departure time choice affected by congestion pricing schemes in high traffic suburban entrance roads of Tehran. The results demonstrate efficient social-demographic impact on work trips’ departure time. These findings have substantial outcomes for the analysis of transportation planning. Particularly, the analysis shows that ignoring the effects of these variables could result in erroneous information and consequently decisions in the field of transportation planning and air quality would fail and cause financial resources loss.

Keywords: congestion pricing, departure time, modeling, travel timing, time of the day, transportation planning

Procedia PDF Downloads 272
7943 VaR or TCE: Explaining the Preferences of Regulators

Authors: Silvia Faroni, Olivier Le Courtois, Krzysztof Ostaszewski

Abstract:

While a lot of research concentrates on the merits of VaR and TCE, which are the two most classic risk indicators used by financial institutions, little has been written on explaining why regulators favor the choice of VaR or TCE in their set of rules. In this paper, we investigate the preferences of regulators with the aim of understanding why, for instance, a VaR with a given confidence level is ultimately retained. Further, this paper provides equivalence rules that explain how a given choice of VaR can be equivalent to a given choice of TCE. Then, we introduce a new risk indicator that extends TCE by providing a more versatile weighting of the constituents of probability distribution tails. All of our results are illustrated using the generalized Pareto distribution.

Keywords: generalized pareto distribution, generalized tail conditional expectation, regulator preferences, risk measure

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7942 Transaction Costs in Institutional Environment and Entry Mode Choice

Authors: K. D. Mroczek

Abstract:

In the study presented institutional context is discussed in terms of companies’ entry mode choice. In contrary to many previous analyses, instead of using one or two aggregated variables, a set of eleven determinants is used to establish equity and non-equity internationalization friendly conditions. Based on secondary data, 140 countries are analysed and grouped into clusters revealing similar framework. The range of the economies explored is wide as it covers all regions distinguished by The World Bank. The results can prove a useful alternative for operationalization of institutional variables in further research concerning entry modes or strategic management in international markets.

Keywords: clustering, entry mode choice, institutional environment, transaction costs

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7941 A Supervised Goal Directed Algorithm in Economical Choice Behaviour: An Actor-Critic Approach

Authors: Keyvanl Yahya

Abstract:

This paper aims to find a algorithmic structure that affords to predict and explain economic choice behaviour particularly under uncertainty (random policies) by manipulating the prevalent Actor-Critic learning method that complies with the requirements we have been entrusted ever since the field of neuroeconomics dawned on us. Whilst skimming some basics of neuroeconomics that might be relevant to our discussion, we will try to outline some of the important works which have so far been done to simulate choice making processes. Concerning neurological findings that suggest the existence of two specific functions that are executed through Basal Ganglia all the way down to sub-cortical areas, namely 'rewards' and 'beliefs', we will offer a modified version of actor/critic algorithm to shed a light on the relation between these functions and most importantly resolve what is referred to as a challenge for actor-critic algorithms, that is lack of inheritance or hierarchy which avoids the system being evolved in continuous time tasks whence the convergence might not emerge.

Keywords: neuroeconomics, choice behaviour, decision making, reinforcement learning, actor-critic algorithm

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7940 A Study of Mode Choice Model Improvement Considering Age Grouping

Authors: Young-Hyun Seo, Hyunwoo Park, Dong-Kyu Kim, Seung-Young Kho

Abstract:

The purpose of this study is providing an improved mode choice model considering parameters including age grouping of prime-aged and old age. In this study, 2010 Household Travel Survey data were used and improper samples were removed through the analysis. Chosen alternative, date of birth, mode, origin code, destination code, departure time, and arrival time are considered from Household Travel Survey. By preprocessing data, travel time, travel cost, mode, and ratio of people aged 45 to 55 years, 55 to 65 years and over 65 years were calculated. After the manipulation, the mode choice model was constructed using LIMDEP by maximum likelihood estimation. A significance test was conducted for nine parameters, three age groups for three modes. Then the test was conducted again for the mode choice model with significant parameters, travel cost variable and travel time variable. As a result of the model estimation, as the age increases, the preference for the car decreases and the preference for the bus increases. This study is meaningful in that the individual and households characteristics are applied to the aggregate model.

Keywords: age grouping, aging, mode choice model, multinomial logit model

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7939 Research on Intercity Travel Mode Choice Behavior Considering Traveler’s Heterogeneity and Psychological Latent Variables

Authors: Yue Huang, Hongcheng Gan

Abstract:

The new urbanization pattern has led to a rapid growth in demand for short-distance intercity travel, and the emergence of new travel modes has also increased the variety of intercity travel options. In previous studies on intercity travel mode choice behavior, the impact of functional amenities of travel mode and travelers’ long-term personality characteristics has rarely been considered, and empirical results have typically been calibrated using revealed preference (RP) or stated preference (SP) data. This study designed a questionnaire that combines the RP and SP experiment from the perspective of a trip chain combining inner-city and intercity mobility, with consideration for the actual condition of the Huainan-Hefei traffic corridor. On the basis of RP/SP fusion data, a hybrid choice model considering both random taste heterogeneity and psychological characteristics was established to investigate travelers’ mode choice behavior for traditional train, high-speed rail, intercity bus, private car, and intercity online car-hailing. The findings show that intercity time and cost exert the greatest influence on mode choice, with significant heterogeneity across the population. Although inner-city cost does not demonstrate a significant influence, inner-city time plays an important role. Service attributes of travel mode, such as catering and hygiene services, as well as free wireless network supply, only play a minor role in mode selection. Finally, our study demonstrates that safety-seeking tendency, hedonism, and introversion all have differential and significant effects on intercity travel mode choice.

Keywords: intercity travel mode choice, stated preference survey, hybrid choice model, RP/SP fusion data, psychological latent variable, heterogeneity

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7938 The Question of Choice in an Achievement Test: A Study on the Sudanese Case

Authors: Mahmoud Abdelrazig Mahmoud Barakat

Abstract:

Achievement tests administered at national level play a significant role in the lives of test-takers as well as the whole society. This paper aims to investigate the effect of giving students a choice between two optional questions on their overall performance in a high stake achievement test for university admission. It is hypothesized that questions targeting writing-based productive skills and language system necessitate display of abilities which are different from fact-based questions designed around story content. The two items are assumed to reflect different constructs that require different criteria of assessment. Consequently, the student’s overall score is affected by the item they choose to answer, which might not be reflective of their real language abilities. An open-ended interview was carried out with ten teachers working with grade 3 students in model secondary schools to investigate the nature of the two test items and their impact on the student’s performance. The data has proved that giving choice in an achievement test generates different performances that are assessed differently. It is recommended that in order to address the question of fairness, it is important to clearly define and balance the construct of the items that affect the student’s choice and performance.

Keywords: achievement test, assessment, choice, fairness performance

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7937 Assessing Circularity Potentials and Customer Education to Drive Ecologically and Economically Effective Materials Design for Circular Economy - A Case Study

Authors: Mateusz Wielopolski, Asia Guerreschi

Abstract:

Circular Economy, as the counterargument to the ‘make-take-dispose’ linear model, is an approach that includes a variety of schools of thought looking at environmental, economic, and social sustainability. This, in turn, leads to a variety of strategies and often confusion when it comes to choosing the right one to make a circular transition as effective as possible. Due to the close interplay of circular product design, business model and social responsibility, companies often struggle to develop strategies that comply with all three triple-bottom-line criteria. Hence, to transition to circularity effectively, product design approaches must become more inclusive. In a case study conducted with the University of Bayreuth and the ISPO, we correlated aspects of material choice in product design, labeling and technological innovation with customer preferences and education about specific material and technology features. The study revealed those attributes of the consumers’ environmental awareness that directly translate into an increase of purchase power - primarily connected with individual preferences regarding sports activity and technical knowledge. Based on this outcome, we constituted a product development approach that incorporates the consumers’ individual preferences towards sustainable product features as well as their awareness about materials and technology. It allows deploying targeted customer education campaigns to raise the willingness to pay for sustainability. Next, we implemented the customer preference and education analysis into a circularity assessment tool that takes into account inherent company assets as well as subjective parameters like customer awareness. The outcome is a detailed but not cumbersome scoring system, which provides guidance for material and technology choices for circular product design while considering business model and communication strategy to the attentive customers. By including customer knowledge and complying with corresponding labels, companies develop more effective circular design strategies, while simultaneously increasing customers’ trust and loyalty.

Keywords: circularity, sustainability, product design, material choice, education, awareness, willingness to pay

Procedia PDF Downloads 162