Search results for: ordered logit model

Authors: Georgios Charizanos, Haydar Demirhan, Duygu Icen

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Two of the most impactful issues in classical logistic regression are class imbalance and complete separation. These can result in model predictions heavily leaning towards the imbalanced class on the binary response variable or over-fitting issues. Fuzzy methodology offers key solutions for handling these problems. However, most studies propose the transformation of the binary responses into a continuous format limited within [0,1]. This is called the possibilistic approach within fuzzy logistic regression. Following this approach is more aligned with straightforward regression since a logit-link function is not utilized, and fuzzy probabilities are not generated. In contrast, we propose a method of fuzzifying binary response variables that allows for the use of the logit-link function; hence, a probabilistic fuzzy logistic regression model with the Monte Carlo method. The fuzzy probabilities are then classified by selecting a fuzzy threshold. Different combinations of fuzzy and crisp input, output, and coefficients are explored, aiming to understand which of these perform better under different conditions of imbalance and separation. We conduct numerical experiments using both synthetic and real datasets to demonstrate the performance of the fuzzy logistic regression framework against seven crisp machine learning methods. The proposed framework shows better performance irrespective of the degree of imbalance and presence of separation in the data, while the considered machine learning methods are significantly impacted.

Keywords: fuzzy logistic regression, fuzzy, logistic, machine learning

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Authors: Jie Liu, Wei Wei, Chun-Ping Chang

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Using a sample of 110 countries over the period 1984-2013, this paper examines the impacts of country risks on choosing a specific exchange rate regime (first by utilizing the Levy-Yeyati and Sturzenegger de facto classification and then robusting it by the IMF de jure measurement) relative to other regimes via the panel multinomial logit approach. Empirical findings are as follows. First, in the full samples case we provide evidence that government is more likely to implement a flexible regime, but less likely to adopt a fixed regime, under a low level of composite and financial risk. Second, we find that Eurozone countries are more likely to choose a fixed exchange rate regime with a decrease in the level of country risk and favor a flexible regime in response to a shock from an increase of risk, which is opposite to non-Eurozone countries. Third, we note that high-risk countries are more likely to choose a fixed regime with a low level of composite and political risk in the government, but do not adjust the exchange rate regime as a shock absorber when facing economic and financial risks. It is interesting to see that those countries with relatively low risk display almost opposite results versus high-risk economies. Overall, we believe that it is critically important to account for political economy variables in a government’s exchange rate policy decisions, especially for country risks. All results are robust to the panel ordered probit model.

Keywords: country risk, political economy, exchange rate regimes, shock absorber

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Authors: Abebaw Assaye, Seiichi Sakurai, Marutama Atsush, Dawit Alemu

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Rice is considered as a strategic agricultural commodity targeting national food security and import substitution in Ethiopia and diverse measures are put in place a number of initiatives to ensure the growth and development of rice sector in the country. This study assessed factors that influence smallholder farmers' level of rice commercialization in Ethiopia. The required data were generated from 594 randomly sampled rice producers using multi-stage sampling techniques from four major rice-producing regional states. Both descriptive and econometric methods were used to analyze the data. We adopted the ordered probit model to analyze factors determining output commercialization in the rice market. The ordered probit model result showed that the sex of the household head, educational status of the household head, credit use, proportion of irrigated land cultivated, membership in social groups, and land dedicated to rice production were found to influence significantly and positively the probability of being commercial-oriented. Conversely, the age of the household, total cultivated land, and distance to the main market were found to influence negatively. These findings suggest that promoting productivity-increasing technologies, development of irrigation facilities, strengthening of social institutions, and facilitating access to credit are crucial for enhancing the commercialization of rice in the study area. Since agricultural lands are limited, intensified farming through promoting improved rice technologies and mechanized farming could be an option to enhance marketable surplus and increase level of rice market particicpation.

Keywords: rice, commercialization, Tobit, ordered probit, Ethiopia

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Authors: Hamidou Diallo, Marianne Guille

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This paper identifies leading triggers of deficient episodes in terms of GDP growth based on a sample of countries at different stages of development over 1994-2017. Using logit models, we build early warning systems (EWS), and our results show important differences between developing countries (DCs) and advanced economies (AEs). For AEs, the main predictors of the probability of entering in a GDP growth deficient episode are the deterioration of external imbalances and the vulnerability of fiscal position while DCs face different challenges that need to be considered. The key indicators for them are first, the low ability to pay their debts, and second, their belonging or not to a common currency area. We also build homogeneous pools of countries inside AEs and DCs. The evolution of the proportion of AE countries in the riskiest pool is marked first, by three distinct peaks just after the high-tech bubble burst, the global financial crisis, and the European sovereign debt crisis, and second by a very low minimum level in 2006 and 2007. In contrast, the situation of DCs is characterized first by the relative stability of this proportion and then by an upward trend from 2006, that can be explained by a more unfavorable socio-political environment leading to shortcomings in the fiscal consolidation.

Keywords: currency area, early warning system, external imbalances, fiscal vulnerability, GDP growth, public debt

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Authors: Nattawipa Pakasri

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58S (60SiO2-36CaO-4P2O5), three-dimensionally ordered macroporous bioactive glasses (3DOM-BGs) were synthesized by the sol-gel method using dual templating methods. non-ionic surfactant Brij56 used as templates component produced mesoporous and the spherical PMMA colloidal crystals as one template component yielded either three-dimensionally ordered microporous products or shaped bioactive glass nanoparticles. The bioactive glass with aging step for 12 h at room temperature, no structure transformation occurred and the 3DOM structure was produced (Figure a) due to no shrinkage process between the aging step. After 48 h time of o 3DOM structure remained and, nanocube with ∼120 nm edge lengths and nanosphere particle with ∼50 nm was obtained (Figure c, d). PMMA packing templates have octahedral and tetrahedral holes to make 2 final shapes of 3DOM-BGs which is rounded and cubic, respectively. The ageing time change from 12h, 24h and 48h affected to the thickness of interconnecting macropores network. The wall thickness was gradually decrease after increase aging time.

Keywords: three-dimensionally ordered macroporous bioactive glasses, sol-gel method, PMMA, bioactive glass

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

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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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Authors: Meltem Ucal

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It is obvious that with limited resources and increasing of energy consumption from day to day, increase in amount of greenhouse gases in the atmosphere will increase risk of climate change. The objective of “Raising Awareness in Energy Efficiency of Household Appliances and Climate Change” paper is to make the connection between climate change and energy saving to be understood. First of all, research and evaluation aiming improvement of women’s behaviors of purchasing and using household appliances and also educate next generations who will be faced risks of climate change, with their mothers will be done.

Keywords: energy efficiency, climate change, wareness, household appliences, econometrics model, logit model

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Authors: Armana Huq

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Railway networks have a significant role in the economy of any country. Similar to other transportation modes, many lives suffer from fatalities or injuries caused by accidents related to the railway. Railway accidents are not as common as roadway accidents yet they are more devastating and damaging than other roadway accidents. Despite that, issues related to railway accidents are not taken into consideration with significant attention as a major threat because of their less frequency compared to other accident categories perhaps. However, the Federal Railroad Administration reported nearly twelve thousand train accidents related to the railroad in the year 2014, resulting in more than eight hundred fatalities and thousands of injuries in the United States alone of which nearly one third fatalities resulted from railway crossing accidents. From an analysis of railway accident data of six years (2005-2010), it has been revealed that 344 numbers of the collision were occurred resulting 200 people dead and 443 people injured in Bangladesh. This paper includes a comprehensive overview of the railway safety situation in Bangladesh from 1998 to 2015. Each year on average, eight fatalities are reported in at-grade level crossings due to railway accidents in Bangladesh. In this paper, the number of railway accidents that occurred in Bangladesh has been presented and a fatality rate of 58.62% has been estimated as the percentage of total at-grade railway level crossing accidents. For this study, analysis of railway accidents in Bangladesh for the period 1998 to 2015 was obtained from the police reported accident database using MAAP (Microcomputer Accident Analysis Package). Investigation of the major contributing factors to the railway accidents has been performed using the Multinomial Logit model. Furthermore, hotspot analysis has been conducted using ArcGIS. Eventually, some suggestions have been provided to mitigate those accidents.

Keywords: safety, human factors, multinomial logit model, railway

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Authors: Eke Balla Sophie Michelle

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Forest provides a wide range of environmental goods and services among which, biodiversity or consumption goods and constitute public goods. Despite the importance of non-timber forest products (NTFPs) in sustaining livelihood and poverty smoothening in rural communities, they are highly depleted and poorly conserved. Yokadouma is a town where NTFPs is a renewable resource in active exploitation. It has been found that such exploitation is done in the same conditions as other localities that have experienced a rapid depletion of their NTFPs in destination to cities across Cameroon, Central Africa, and overseas. Given these realities, it is necessary to access the consequences of this overexploitation through negative effects on both the population and the environment. Therefore, to enhance participatory conservation initiatives, this study determines the household’s willingness to pay in community forest (CF) of Morikouali-ye, eastern region of Cameroon, for sustainable exploitation of NTFPs using contingent valuation method (CVM) through two approaches, one parametric (Logit model) and the other non-parametric (estimator of the Turnbull lower bound). The results indicate that five species are the most collected in the study area: Irvingia gabonensis, the Ricinodendron heudelotii, Gnetum, the Jujube and bark, their sale contributes significantly to 41 % of total household income. The average willingness to pay through the Logit model and the Turnbull estimator is 6845.2861 FCFA and 4940 FCFA respectively per household per year with a social cost of degradation estimated at 3237820.3253 FCFA years. The probability to pay increases with income, gender, number of women in the household, age, the commercial activity of NTFPs and decreases with the concept of sustainable development.

Keywords: non timber forest product, contingent valuation method, willingness to pay, sustainable development

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Authors: Getamesay Kassaye Dimru

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The cultivation of fruit tree in degraded areas has two-fold importance. Firstly, it improves food availability and income, and secondly, it promotes the conservation of soil and water improving, in turn, the productivity of the land. The main objectives of this study are to identify the determinant of farmer's fruit trees plantation decision and to major fruit production challenges and opportunities of the study area. The analysis was made using primary data collected from 60 sample household selected randomly from the study area in 2016. The primary data was supplemented by data collected from a key informant. In addition to the descriptive statistics and statistical tests (Chi-square test and t-test), a logit model was employed to identify the determinant of fruit tree plantation decision. Drought, pest incidence, land degradation, lack of input, lack of capital and irrigation schemes maintenance, lack of misuse of irrigation water and limited agricultural personnel are the major production constraints identified. The opportunities that need to further exploited are better access to irrigation, main road access, endowment of preferred guava variety, experience of farmers, and proximity of the study area to research center. The result of logit model shows that from different factors hypothesized to determine fruit tree plantation decision, age of the household head accesses to market and perception of farmers about fruits' disease and pest resistance are found to be significant. The result has revealed important implications for the promotion of fruit production for both land degradation control and rehabilitation and increasing the livelihood of farming households.

Keywords: degradation, fruit, irrigation, pest

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Authors: E. S. Kozlyakova, A. A. Eliseev, A. V. Moskin, A. Y. Akhrorov, P. S. Berdonosov, V. A. Dolgikh, K. N. Denisova, P. Lemmens, B. Rahaman, S. Das, T. Saha-Dasgupta, A. N. Vasiliev, O. S. Volkova

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Considerable attention has been paid recently to FeTe₂O₅Cl due to reduced dimensionality and frustration in the magnetic subsystem, succession of phase transitions, and multiferroicity. The efforts to grow its selenite sibling resulted in mixed halide compound, Fe(Te₁.₅Se₀.₅)O₅Cl, which was found crystallizing in a new structural type and possessing properties drastically different from those of a parent system. Hereby we report the studies of magnetization M and specific heat Cₚ, combined with Raman spectroscopy and density functional theory calculations in Fe(Te₁.₅Se₀.₅)O₅Cl. Its magnetic subsystem features weakly coupled Fe³⁺ - Fe³⁺ dimers showing the regime of short-range correlations at TM ~ 70 K and long-range order at TN = 22 K. In a magnetically ordered state, sizable spin-orbital interactions lead to a small canting of Fe³⁺ moments. The density functional theory calculations of leading exchange interactions were found in agreement with measurements of thermodynamic properties and Raman spectroscopy. Besides, because of the relatively large magnetic moment of the Fe³⁺ ion, we found that magnetic dipole-dipole interactions contribute significantly to experimentally observed orientation of magnetization easy axis in ac-plane. As a conclusion, we suggest a model of magnetic subsystem in magnetically ordered state of Fe(Te₁.₅Se₀.₅)O₅Cl based on a model of interacting dimers.

Keywords: dipole-dipole interactions, low dimensional magnetism, selenite, spin canting

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Authors: Asmaa Zaraq

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In the present work we report X-ray powder diffraction measurements of SrCaCoTeO6 and SrCaNiTeO6, at different temperatures. The crystal structures at room temperature of both compounds are determined; and results showing the existence of high-temperature phase transitions in them are presented. Both compounds have double perovskite structure with 1:1 ordered arrangement of the B site cations. At room temperature their symmetries are described with the P21/n space group, that correspond to the (a+b-b-) tilt system. The evolution with temperature of the structure of both compounds shows the presence of three phase transitions: a continuous one, at 450 and 500 K, a discontinuous one, at 700 and 775 K, and a continuous one at 900 and 950 K for SrCaCoTeO6 and SrCaNiTeO6, respectively with the following phase-transition sequence: P21/n → I2/m → I4/m → Fm-3m.

Keywords: double perovskites, caracterisation DRX, transition de phase

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Authors: Kedar Vishnu, Parmod Kumar

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India is becoming most favored retail destination in the world. The organized retail has presented many opportunities to farmers to increase income by shifting cropping pattern from food grains to commercial crops. Previous research revealed potential benefits for farmers by supplying fruits and vegetables to organized retail channels. However the supply of fruits and vegetables from small and marginal farmers remain low than expected. The main objective of this paper is to identify the factors determining market participation of smallholder farmers in modern organized retail chains. Attempt is also made to find out factors influencing the choice of participation in particular organized retail collection centers as compared to other organized retail. The paper was based on primary survey of 40 Beans and Tomato farmers who supply to organized retail collection centers from Karnataka, India. Multiple regression technique is used to identify the factors determining quantity sold at collection centers. The regression result, show that area under vegetables, yield, and price from modern collection center and having access to technical help were found significantly affecting quantity sold into modern organized retail channels. On the opposite, increased rejection rates and vegetable prices at APMC were found influencing farmers decision into the reverse side. Empirical result of the multinomial logit model show that Reliance fresh has tendency to prefer large farmers who can supply more quality and better quantity compared with TESCO and More collection centers. The negative sign of area, having access to technical help, transportation cost, and number of bore wells led to higher probability of farmers to participate in Reliance Fresh collection centers as compared with More and TESCO.

Keywords: fruits, vegetables, organized retail markets, multinomial logit model

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Authors: Rui He, Seung-Eun Baik, Min-Jae Lee, Myong-Hoon Lee

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The polarizer is one of the most essential optical elements in LCDs. Currently, the most widely used polarizers for LCD is the derivatives of the H-sheet polarizer. There is a need for coatable polarizers which are much thinner and more stable than H-sheet polarizers. One possible approach to obtain thin, stable, and coatable polarizers is based on the use of highly ordered guest-host system. In our research, we aimed to fabricate coatable polarizer based on highly ordered liquid crystalline monomer and dichroic dye ‘guest-host’ system, in which the anisotropic absorption of light could be achieved by aligning a dichroic dye (guest) in the cooperative motion of the ordered liquid crystal (host) molecules. Firstly, we designed and synthesized a new reactive liquid crystalline monomer containing polymerizable acrylate groups as the ‘host’ material. The structure was confirmed by 1H-NMR and IR spectroscopy. The liquid crystalline behavior was studied by differential scanning calorimetry (DSC) and polarized optical microscopy (POM). It was confirmed that the monomers possess highly ordered smectic phase at relatively low temperature. Then, the photocurable ‘guest-host’ system was prepared by mixing the liquid crystalline monomer, dichroic dye and photoinitiator. Coatable polarizers were fabricated by spin-coating above mixture on a substrate with alignment layer. The in-situ photopolymerization was carried out at room temperature by irradiating UV light, resulting in the formation of crosslinked structure that stabilized the aligned dichroic dye molecules. Finally, the dichroic ratio (DR), order parameter (S) and polarization efficiency (PE) were determined by polarized UV/Vis spectroscopy. We prepared the coatable polarizers by using different type of dichroic dyes to meet the requirement of display application. The results reveal that the coatable polarizers at a thickness of 8μm exhibited DR=12~17 and relatively high PE (>96%) with the highest PE=99.3%, which possess potential for the LCD or flexible display applications.

Keywords: coatable polarizer, display, guest-host, liquid crystal

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Authors: Showkat Ahmad Bhat, M. S. Bhatt

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The study evaluates the ex-post impact of institutional credit on agricultural output. It first examines the key factors that influence the accessibility of institutional credit by farm households. For quantitative analysis both program participant and non-participant respondents were drawn and cross-sectional survey data were collected from 412 households in Pulwama District of Jammu & Kashmir (India). Propensity Score Matching Method was employed to analyze the impact of the institutional credit on agricultural output. Results show that institutional credit has a positive and significant impact on the agricultural output measured in terms of farm income and crop productivity. To estimate the accessibility of credit, an examination of both demand side and supply side factors were carried out. The demand for credit was measured with respect to respondents who applied for credit. Supply side credit allocation measured in terms of the proportion of ‘credit amount’ farmers obtained. Logit and Two-limit Tobit Regression Models were used to investigate the determinants that influence the accessibility of formal credit for Demand for and supply of credit respectively. The estimated results suggested that the demand for credit is positively and significantly affected by the factors such as: age of the household head, formal education, membership, cash crop grown, farm size and saving account. All the variables were found significantly increasing the household’s likelihood to demand for and supply of credit from banks. However, the impact of these factors varies considerably across the credit markets. Factors which were found negatively and significantly influencing the accessibility of credit were: ‘square of the age’, household assets and rate of interest. The credit constraints analysis suggested that square of the age; household assets and rate of interest were the three most important factors that increased the probability of being constrained. The study finally discusses these results in detail and draws some recommendations.

Keywords: institutional credit, agriculture, propensity score matching logit model, Tobit model

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Authors: Ron Cottam, Nils Langloh, Willy Ranson, Roger Vounckx

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We start by formally describing the requirements for environmental-reaction survival computation in a natural temporally-demanding medium, and develop this into a more general model of the evolutionary context as a computational machine. The effect of this development is to replace deterministic logic by a modified form which exhibits a continuous range of dimensional fractal diffuseness between the isolation of perfectly ordered localization and the extended communication associated with nonlocality as represented by pure causal chaos. We investigate the appearance of life and consciousness in the derived general model, and propose a representation of Nature within which all localizations have the character of quasi-quantal entities. We compare our conclusions with Heisenberg’s uncertainty principle and nonlocal teleportation, and maintain that computability is the principal influence on evolution in the model we propose.

Keywords: computability, evolution, life, localization, modeling, nonlocality

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Authors: Petr Gurný

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One of the most important tasks in the risk management is the correct determination of probability of default (PD) of particular financial subjects. In this paper a possibility of determination of financial institution’s PD according to the credit-scoring models is discussed. The paper is divided into the two parts. The first part is devoted to the estimation of the three different models (based on the linear discriminant analysis, logit regression and probit regression) from the sample of almost three hundred US commercial banks. Afterwards these models are compared and verified on the control sample with the view to choose the best one. The second part of the paper is aimed at the application of the chosen model on the portfolio of three key Czech banks to estimate their present financial stability. However, it is not less important to be able to estimate the evolution of PD in the future. For this reason, the second task in this paper is to estimate the probability distribution of the future PD for the Czech banks. So, there are sampled randomly the values of particular indicators and estimated the PDs’ distribution, while it’s assumed that the indicators are distributed according to the multidimensional subordinated Lévy model (Variance Gamma model and Normal Inverse Gaussian model, particularly). Although the obtained results show that all banks are relatively healthy, there is still high chance that “a financial crisis” will occur, at least in terms of probability. This is indicated by estimation of the various quantiles in the estimated distributions. Finally, it should be noted that the applicability of the estimated model (with respect to the used data) is limited to the recessionary phase of the financial market.

Keywords: credit-scoring models, multidimensional subordinated Lévy model, probability of default

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Authors: Leonard Maaya, Michel Meulders, Martina Vandebroek

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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

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Authors: Forrest Kaatz, Adhemar Bultheel

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Au-Cu and Pt-M (M = Fe, Co, and Ni) nanocluster alloys are currently being investigated worldwide by many researchers for their interesting catalytic and nanophase properties. The low-temperature behavior of the phase diagrams is not well understood for alloys with nanometer sizes and shapes. These systems have similar bulk phase diagrams with the L12 (Au3Cu, Pt3M, AuCu3, and PtM3) structurally ordered intermetallics and the L10 structure for the AuCu and PtM intermetallics. We consider three models for low temperature ordering in the phase diagrams of Au–Cu and Pt–M nanocluster alloys. These models are valid for sizes ~ 5 nm and approach bulk values for sizes ~ 20 nm. We study the phase transition in nanoclusters with cubic, octahedral, and cuboctahedral shapes, covering the compositions of interest. These models are based on studying the melting temperatures in nanoclusters using the regular solution, mixing model for alloys. Experimentally, it is extremely challenging to determine thermodynamic data on nano–sized alloys. Reasonable agreement is found between these models and recent experimental data on nanometer clusters in the Au–Cu and Pt–M nanophase systems. From our data, experiments on nanocubes about 5 nm in size, of stoichiometric AuCu and PtM composition, could help differentiate between the models. Some available evidence indicates that ordered intermetallic nanoclusters have better catalytic properties than disordered ones. We conclude with a discussion of physical mechanisms whereby ordering could improve the catalytic properties of nanocluster alloys.

Keywords: catalytic reactions, gold nanoalloys, phase transitions, platinum nanoalloys

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Authors: Yassine Ait-El-Aoud, Michael Okomoto, Andrew M. Luce, Alkim Akyurtlu, Richard M. Osgood III

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Light scattering of metal nanoparticles (NPs) has a unique, and technologically important effect on enhancing light absorption in substrates because most of the light scatters into the substrate near the localized plasmon resonance of the NPs. The optical response, such as the resonant frequency and forward- and backward-scattering, can be tuned to trap light over a certain spectral region by adjusting the nanoparticle material size, shape, aggregation state, Metallic vs. insulating state, as well as local environmental conditions. In this work, we examined the light scattering characteristics of ordered arrays of metal nanoparticles and the light trapping, in order to enhance absorption, by measuring the forward- and backward-scattering using a UV/VIS/NIR spectrophotometer. Samples were fabricated using the popular self-assembly process method: dip coating, combined with nanosphere lithography.

Keywords: dip coating, light-scattering, metal nanoparticles, nanosphere lithography

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Authors: Tahmidul Islam

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Propensity Score Matching (PSM) technique has been widely used for estimating causal effect of treatment in observational studies. One major step of implementing PSM is estimating the propensity score (PS). Logistic regression model with additive linear terms of covariates is most used technique in many studies. Logistics regression model is also used with cubic splines for retaining flexibility in the model. However, choosing the functional form of the logistic regression model has been a question since the effectiveness of PSM depends on how accurately the PS been estimated. In many situations, the linearity assumption of linear logistic regression may not hold and non-linear relation between the logit and the covariates may be appropriate. One can estimate PS using machine learning techniques such as random forest, neural network etc for more accuracy in non-linear situation. In this study, an attempt has been made to compare the efficacy of Generalized Additive Model (GAM) in various linear and non-linear settings and compare its performance with usual logistic regression. GAM is a non-parametric technique where functional form of the covariates can be unspecified and a flexible regression model can be fitted. In this study various simple and complex models have been considered for treatment under several situations (small/large sample, low/high number of treatment units) and examined which method leads to more covariate balance in the matched dataset. It is found that logistic regression model is impressively robust against inclusion quadratic and interaction terms and reduces mean difference in treatment and control set equally efficiently as GAM does. GAM provided no significantly better covariate balance than logistic regression in both simple and complex models. The analysis also suggests that larger proportion of controls than treatment units leads to better balance for both of the methods.

Keywords: accuracy, covariate balances, generalized additive model, logistic regression, non-linearity, propensity score matching

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Authors: Aigin Bashti

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Preparation of multicomponent reactions (MCRs) via a simple one-pot strategy is considered a novel procedure which has attracted a lot of interest from organic and medicinal chemists. Due to the great importance of phthalazide triones, it was decided to introduce a novel and cost-effective green procedure for the preparation of these derivatives. In this methodology, an efficient 4,4ʹ-Bipyridinium Dichloride Ordered Mesoporous Silica functionalized catalyst (BP-SBA-15) was utilized. The catalyst was characterized by X-ray diffraction analysis (XRD), field emission scanning electron microscopy (FESEM), transmission electron microscopy (TEM), thermo-gravimetric analysis (TGA), and Fourier-transform infrared spectroscopy (FT-IR) analysis. In conclusion, it should be mentioned that this methodology has some advantages, including short reaction time, high yield of the products, recyclable catalyst, green procedure, and facile work-up procedure. The catalyst was successfully utilized for the one-pot preparation of various phthalazinetrione derivatives.

Keywords: dimedone, green procedure, multicomponent reactions, phthalhydrazide

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Authors: Farida, M. Shehu, Shehu U. R. Aliyu

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Access to finance has been recognized in the literature as one of the major impediments confronting small scale businesses (SSBs). This largely arises due to high lending rate, religious inclinations, collateral, etc. Islamic mode finance operates under Profit and Loss Sharing (PLS) arrangement between a borrower (business owner) and a lender (Islamic bank). This paper empirically assesses the determinants of predisposition of small scale business operators in Fagge local government area, Kano State, Nigeria, towards the PLS. Cross-sectional data from a sample of 291 small scale business operators was analyzed using logit and probit regression models. Empirical results reveal that while awareness and religion inclination positively drive interest towards the PLS, lending rate and collateral work against it. The paper, therefore, strongly recommends more advocacy campaigns and setting up of more Islamic banks in the country to cater for the financing and religious needs of SSBs in the study area.

Keywords: Islamic finance, logit and probit models, profit and loss sharing small scale businesses, finance, commerce

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Authors: John Deely, Stephen Hynes, Mary Cawley, Sarah Hogan

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Domestic marine and coastal tourism have increased in importance over the last number of years due to the impacts of international travel, environmental concerns, associated health benefits and COVID-19 related travel restrictions. Consequently, this paper conceptualizes domestic marine and coastal tourism within an economic framework. Two logit models examine the factors that influence participation in the coastal day trips and overnight stays markets, respectively. Two truncated travel cost models are employed to explore trip duration, one analyzing the number of day trips taken and the other examining the number of nights spent in marine and coastal areas. Although a range of variables predicts participation, no one variable had a significant and consistent effect on every model. A division in access to domestic marine and coastal tourism is also observed based on variation in household income. The results also indicate a vibrant day trip market and large consumer surpluses.

Keywords: domestic marine and coastal tourism, day tripper, participation models, truncated travel cost model

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Authors: Ankit Nagar, Dinesh Kumar Nauriyal, Sukhpal Singh

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This paper examines the key determinants of farmers’ access to agricultural extension services, sources of agricultural extension services preferred and accessed by the farmers. An ordered logistic regression model was used to analyse the data of the 360 sample households based on a primary survey conducted in western Uttar Pradesh, India. The study finds that farmers' decision to engage in the agricultural extension programme is significantly influenced by factors such as education level, gender, farming experience, social group, group membership, farm size, credit access, awareness about the extension scheme, farmers' perception, and distance from extension sources. The most intriguing finding of this study is that the progressive farmers, which have long been regarded as a major source of knowledge diffusion, are the most distrusted sources of information as they are suspected of withholding vital information from potential beneficiaries. The positive relationship between farm size and ‘Access’ underlines that the extension services should revisit their strategies for targeting more marginal and small farmers constituting over 85 percent of the agricultural households by incorporating their priorities in their outreach programs. The study suggests that marginal and small farmers' productive potential could still be greatly augmented by the appropriate technology, advisory services, guidance, and improved market access. Also, the perception of poor quality of the public extension services can be corrected by initiatives aimed at building up extension workers' capacity.

Keywords: agriculture, access, extension services, ordered logistic regression

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Authors: Roien Qiam, Shoshi Mizokami

Abstract:

Parking demand in the Central Business District (CBD) has enlarged with the increase of the number of private vehicles due to rapid economic growth, lack of an efficient public transport and traffic management system. This has resulted in low mobility, poor accessibility, serious congestion, high rates of traffic accident fatalities and injuries and air pollution, mainly because people have to drive slowly around to find a vacant spot. With parking pricing and enforcement policy, considerable advancement could be found, and on-street parking spaces could be managed efficiently and effectively. To evaluate parking demand and making parking policy, it is required to understand the current parking condition and driver’s behavior, understand how drivers choose their parking type and location as well as their behavior toward finding a vacant parking spot under parking charges and search times. This study illustrates the result from an observational, revealed and stated preference surveys and experiment. Attained data shows that there is a gap between supply and demand in parking and it has maximized. For the modeling of the parking decision, a choice model was constructed based on discrete choice modeling theory and multinomial logit model estimated by using SP survey data; the model represents the choice of an alternative among different alternatives which are priced on-street, off-street, and illegal parking. Individuals choose a parking type based on their preference concerning parking charges, searching times, access times and waiting times. The parking assignment model was obtained directly from behavioral model and is used in parking simulation. The study concludes with an evaluation of parking policy.

Keywords: CBD, parking demand forecast, parking policy, parking choice model

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Authors: Mohammad Alroaithi

Abstract:

Porous polymeric materials have attracted a great attention due to their distinctive porous structure within a polymer matrix. They are characterised by the presence of external pores on the surface as well as inner interconnected windows. Conventional techniques to produce porous polymeric materials encounters major challenge in controlling the properties of the resultant structures including morphology, pores, cavities size, and porosity. Herein, we present a facile and versatile microfluidics technique for the fabrication of uniform porous polymeric structures with highly ordered and well-defined interconnected windows. The shapes of the porous structures can either be a microparticles or foam. Both shapes used microfluidics platform to first produce monodisperse emulsion. The uniform emulsions, were then consolidated into porous structures through UV photopolymerisation. The morphology, pores, cavities size, and porosity of the structures can be precisely manipulated by the flowrate. The proposed strategy might provide a key advantage for fabrication of uniform porous materials over many existing technologies.

Keywords: polymer, porous particles, microfluidics, porous structures

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Authors: Mikhail Zarechnev, Bora I. Kumova

Abstract:

A syllogism is a deductive inference scheme used to derive a conclusion from a set of premises. In a categorical syllogisms, there are only two premises and every premise and conclusion is given in form of a quantified relationship between two objects. The different order of objects in premises give classification known as figures. We have shown that the ordered combinations of 3 generalized quantifiers with certain figure provide in total of 108 syllogistic moods which can be considered as different inference rules. The classical syllogistic system allows to model human thought and reasoning with syllogistic structures always attracted the attention of cognitive scientists. Since automated reasoning is considered as part of learning subsystem of AI agents, syllogistic system can be applied for this approach. Another application of syllogistic system is related to inference mechanisms on the Semantic Web applications. In this paper we proposed the mathematical model and algorithm for syllogistic reasoning. Also the model of iterative syllogistic reasoning in case of continuous flows of incoming data based on case–based reasoning and possible applications of proposed system were discussed.

Keywords: categorical syllogism, case-based reasoning, cognitive architecture, inference on the semantic web, syllogistic reasoning

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Authors: Huynh Viet Khai, Mitsuyasu Yabe

Abstract:

The study investigated the economic value of biodiversity attributes that could provide policy-makers reliable information to estimate welfare losses due to biodiversity reductions and analyse the trade-off between biodiversity and economics. In order to obtain the non-market benefits of biodiversity conservation, an indirect utility function and willingness to pay for biodiversity attributes were applied using the approach of choice modelling with the analysis of conditional logit model. The study found that Mekong Delta residents accepted their willingness to pay for VND 913 monthly for a one percent increase in healthy vegetation, VND 360 for an additional mammal species and VND 2,440 to avoid the welfare losses of 100 local farmers.

Keywords: choice modelling, genetic resources, wetland conservation, marginal willingness to pay

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Authors: Sumaira Ashraf, Elisabete G.S. Félix, Zélia Serrasqueiro

Abstract:

Traditional financial distress prediction models performed well to predict bankrupt and insolvent firms of the developed markets. Previous studies particularly focused on the predictability of financial distress, financial failure, and bankruptcy of firms. This paper contributes to the literature by extending the definition of financial distress with the inclusion of early warning signs related to quotation of face value, dividend/bonus declaration, annual general meeting, and listing fee. The study used five well-known distress prediction models to see if they have the ability to predict early warning signs of financial distress. Results showed that the predictive ability of the models varies over time and decreases specifically for the sample with early warning signs of financial distress. Furthermore, the study checked the differences in the predictive ability of the models with respect to the financial crisis. The results conclude that the predictive ability of the traditional financial distress prediction models decreases for the firms with early warning signs of financial distress and during the time of financial crisis. The study developed a new model comprising significant variables from the five models and one new variable earning response. This new model outperforms the old distress prediction models before, during and after the financial crisis. Thus, it can be used by researchers, organizations and all other concerned parties to indicate early warning signs for the emerging markets.

Keywords: financial distress, emerging market, prediction models, Z-Score, logit analysis, probit model

Procedia PDF Downloads 219