Search results for: logit
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 25

Search results for: logit

25 Comparative Study of Transformed and Concealed Data in Experimental Designs and Analyses

Authors: K. Chinda, P. Luangpaiboon

Abstract:

This paper presents the comparative study of coded data methods for finding the benefit of concealing the natural data which is the mercantile secret. Influential parameters of the number of replicates (rep), treatment effects (τ) and standard deviation (σ) against the efficiency of each transformation method are investigated. The experimental data are generated via computer simulations under the specified condition of the process with the completely randomized design (CRD). Three ways of data transformation consist of Box-Cox, arcsine and logit methods. The difference values of F statistic between coded data and natural data (Fc-Fn) and hypothesis testing results were determined. The experimental results indicate that the Box-Cox results are significantly different from natural data in cases of smaller levels of replicates and seem to be improper when the parameter of minus lambda has been assigned. On the other hand, arcsine and logit transformations are more robust and obviously, provide more precise numerical results. In addition, the alternate ways to select the lambda in the power transformation are also offered to achieve much more appropriate outcomes.

Keywords: Experimental Designs, Box-Cox, Arcsine, Logit Transformations.

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24 Modeling a Multinomial Logit Model of Intercity Travel Mode Choice Behavior for All Trips in Libya

Authors: Manssour A. Abdulsalam Bin Miskeen, Ahmed Mohamed Alhodairi, Riza Atiq Abdullah Bin O. K. Rahmat

Abstract:

In the planning point of view, it is essential to have mode choice, due to the massive amount of incurred in transportation systems. The intercity travellers in Libya have distinct features, as against travellers from other countries, which includes cultural and socioeconomic factors. Consequently, the goal of this study is to recognize the behavior of intercity travel using disaggregate models, for projecting the demand of nation-level intercity travel in Libya. Multinomial Logit Model for all the intercity trips has been formulated to examine the national-level intercity transportation in Libya. The Multinomial logit model was calibrated using nationwide revealed preferences (RP) and stated preferences (SP) survey. The model was developed for deference purpose of intercity trips (work, social and recreational). The variables of the model have been predicted based on maximum likelihood method. The data needed for model development were obtained from all major intercity corridors in Libya. The final sample size consisted of 1300 interviews. About two-thirds of these data were used for model calibration, and the remaining parts were used for model validation. This study, which is the first of its kind in Libya, investigates the intercity traveler’s mode-choice behavior. The intercity travel mode-choice model was successfully calibrated and validated. The outcomes indicate that, the overall model is effective and yields higher precision of estimation. The proposed model is beneficial, due to the fact that, it is receptive to a lot of variables, and can be employed to determine the impact of modifications in the numerous characteristics on the need for various travel modes. Estimations of the model might also be of valuable to planners, who can estimate possibilities for various modes and determine the impact of unique policy modifications on the need for intercity travel.

Keywords: Multinomial logit model, improved intercity transport, intercity mode-choice behavior, disaggregate analysis.

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23 Application of Adaptive Neuro-Fuzzy Inference System in the Prediction of Economic Crisis Periods in USA

Authors: Eleftherios Giovanis

Abstract:

In this paper discrete choice models, Logit and Probit are examined in order to predict the economic recession or expansion periods in USA. Additionally we propose an adaptive neuro-fuzzy inference system with triangular membership function. We examine the in-sample period 1947-2005 and we test the models in the out-of sample period 2006-2009. The forecasting results indicate that the Adaptive Neuro-fuzzy Inference System (ANFIS) model outperforms significant the Logit and Probit models in the out-of sample period. This indicates that neuro-fuzzy model provides a better and more reliable signal on whether or not a financial crisis will take place.

Keywords: ANFIS, discrete choice models, financial crisis, USeconomy

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22 Member Investment Willingness in Agricultural Cooperatives in Shaanxi (China)

Authors: Lijia Wang, Xuexi Huo

Abstract:

This study analyzes characteristics determining member’s willingness to invest in cooperatives using ordered logit model. The data were collected in a field survey among 122 cooperative members in north-central China. The descriptive analysis of survey evidence suggests that cooperatives in China generally having poor ability to deliver the processing services related to product package, grading, and storage, performing worse in profitability, inability of providing returns to capital and obtaining agricultural loan. The regression results demonstrate that members’ farm size, their satisfaction with cooperative price preferential services, attitudes toward cooperative operational scale and development potential have statistically significant impact on willingness to invest.

Keywords: Cooperatives, investment willingness, member, ordered logit.

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21 Designing Early Warning System: Prediction Accuracy of Currency Crisis by Using k-Nearest Neighbour Method

Authors: Nor Azuana Ramli, Mohd Tahir Ismail, Hooy Chee Wooi

Abstract:

Developing a stable early warning system (EWS) model that is capable to give an accurate prediction is a challenging task. This paper introduces k-nearest neighbour (k-NN) method which never been applied in predicting currency crisis before with the aim of increasing the prediction accuracy. The proposed k-NN performance depends on the choice of a distance that is used where in our analysis; we take the Euclidean distance and the Manhattan as a consideration. For the comparison, we employ three other methods which are logistic regression analysis (logit), back-propagation neural network (NN) and sequential minimal optimization (SMO). The analysis using datasets from 8 countries and 13 macro-economic indicators for each country shows that the proposed k-NN method with k = 4 and Manhattan distance performs better than the other methods.

Keywords: Currency crisis, k-nearest neighbour method, logit, neural network.

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20 The Relationship between Employability and Training

Authors: X. Mamaqi, J.Miguel, P. Olave

Abstract:

The aim of this paper is to provide an empirical evidence about the effects that the management of continuous training have on employability (or employment stability) in the Spanish labour market. With this purpose a binary logit model with interaction effect is been used. The dependent variable includes two situations of the active workers: continuous and discontinuous employability. To distinguish between them an Employability Index Stability (ESI) was calculated taking into account two factors: time worked and job security. Various aspects of the continuous training and personal workers data are used as independent variables. The data obtained from a survey of a sample of 918 employed have revealed a relationship between the likelihood of continuous employability and continuous training received. The empirical results support the positive and significant relationship between various aspects of the training provided by firms and employability likelihood of the workers, postulate alike from a theoretical point of view.

Keywords: training management, employability/employmentstability, binary logit model, interaction effect, Spanish marketlabour.

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19 Modeling the Influence of Socioeconomic and Land-Use Factors on Mode Choice: A Comparison of Riyadh, Saudi Arabia, and Melbourne, Australia

Authors: M. Alqhatani, S. Bajwa, S. Setunge

Abstract:

Metropolitan areas have suffered from traffic problems, which have steadily increased in many monocentric cities. Urban expansion, population growth, and road network development have resulted in a structural shift toward urban sprawl, increasing commuters’ dependence on private modes of transport. This paper aims to model the influence of socioeconomic and land-use factors on mode choice using a multinomial and nested logit model. Land-use patterns—such as residential, commercial, retail, educational and employment related—affect the choice of mode and destination in the short and medium term. Socioeconomic factors—such as age, gender, income, household size, and house type—also affect choice, while residential location is affected in the long term. Riyadh in Saudi Arabia and Melbourne in Australia were chosen as case studies. Riyadh is a car-dependent city with limited public transport, whereas Melbourne has good public transport but an increase in car dependence. Aggregate level land-use data and disaggregate level individual, household, and journey-to-work data are used to determine the effects of land use and socioeconomic factors on mode choice. The model results determined that urban sprawl is the main factor that affects mode choice, income, and house type.

Keywords: Socioeconomic, land use, mode choice, multinomial logit and nested logit.

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18 Evaluation of Neighbourhood Characteristics and Active Transport Mode Choice

Authors: Tayebeh Saghapour, Sara Moridpour, Russell George Thompson

Abstract:

One of the common aims of transport policy makers is to switch people’s travel to active transport. For this purpose, a variety of transport goals and investments should be programmed to increase the propensity towards active transport mode choice. This paper aims to investigate whether built environment features in neighbourhoods could enhance the odds of active transportation. The present study introduces an index measuring public transport accessibility (PTAI), and a walkability index along with socioeconomic variables to investigate mode choice behaviour. Using travel behaviour data, an ordered logit regression model is applied to examine the impacts of explanatory variables on walking trips. The findings indicated that high rates of active travel are consistently associated with higher levels of walking and public transport accessibility.

Keywords: Active transport, public transport accessibility, walkability, ordered logit model.

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17 Landowers' Participation Behavior on the Payment for Environmental Service (PES): Evidences from Taiwan

Authors: Wan-Yu Liu

Abstract:

To respond to the Kyoto Protocol, the policy of Payment for Environmental Service (PES), which was entitled “Plain Landscape Afforestation Program (PLAP)", was certified by Executive Yuan in Taiwan on 31 August 2001 and has been implementing for six years since 1 January 2002. Although the PLAP has received a lot of positive comments, there are still many difficulties during the process of implementation, such as insufficient technology for afforestation, private landowners- low interests in participating in PLAP, insufficient subsidies, and so on, which are potential threats that hinder the PLAP from moving forward in future. In this paper, selecting Ping-Tung County in Taiwan as a sample region and targeting those private landowners with and without intention to participate in the PLAP, respectively, we conduct an empirical analysis based on the Logit model to investigate the factors that determine whether those private landowners join the PLAP, so as to realize the incentive effects of the PLAP upon the personal decision on afforestation. The possible factors that might determine private landowner-s participation in the PLAP include landowner-s characteristics, cropland characteristics, as well as policy factors. Among them, the policy factors include afforestation subsidy amount (+), duration of afforestation subsidy (+), the rules on adjoining and adjacent areas (+), and so on, which do not reach the remarkable level in statistics though, but the directions of variable signs are consistent with the intuition behind the policy. As for the landowners- characteristics, each of age (+), education level (–), and annual household income (+) variables reaches 10% of the remarkable level in statistics; as for the cropland characteristics, each of cropland area (+), cropland price (–), and the number of cropland parcels (–) reaches 1% of the remarkable level in statistics. In light of the above, the cropland characteristics are the dominate factor that determines the probability of landowner-s participation in the PLAP. In the Logit model established by this paper, the probability of correctly estimating nonparticipants is 98%, the probability of correctly estimating the participants is 71.8%, and the probability for the overall estimation is 95%. In addition, Hosmer-Lemeshow test and omnibus test also revealed that the Logit model in this paper may provide fine goodness of fit and good predictive power in forecasting private landowners- participation in this program. The empirical result of this paper expects to help the implementation of the afforestation programs in Taiwan.

Keywords: Forestry policy, logit, afforestation subsidy, afforestation policy.

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16 A Study of Panel Logit Model and Adaptive Neuro-Fuzzy Inference System in the Prediction of Financial Distress Periods

Authors: Ε. Giovanis

Abstract:

The purpose of this paper is to present two different approaches of financial distress pre-warning models appropriate for risk supervisors, investors and policy makers. We examine a sample of the financial institutions and electronic companies of Taiwan Security Exchange (TSE) market from 2002 through 2008. We present a binary logistic regression with paned data analysis. With the pooled binary logistic regression we build a model including more variables in the regression than with random effects, while the in-sample and out-sample forecasting performance is higher in random effects estimation than in pooled regression. On the other hand we estimate an Adaptive Neuro-Fuzzy Inference System (ANFIS) with Gaussian and Generalized Bell (Gbell) functions and we find that ANFIS outperforms significant Logit regressions in both in-sample and out-of-sample periods, indicating that ANFIS is a more appropriate tool for financial risk managers and for the economic policy makers in central banks and national statistical services.

Keywords: ANFIS, Binary logistic regression, Financialdistress, Panel data

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15 Predicting the Lack of GDP Growth: A Logit Model for 40 Advanced and Developing Countries

Authors: Hamidou Diallo, Marianne Guille

Abstract:

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 its debts and second, their belonging or not to a common currency area. We also build homogeneous pools of countries inside AEs and DCs. For AEs, the evolution of the proportion of 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 a relative stability of this proportion and then by an upward trend from 2006, that can be explained by more unfavorable socio-political environment leading to shortcomings in the fiscal consolidation.

Keywords: GDP growth, early warning system, advanced economies, developing countries.

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14 Early Warning System of Financial Distress Based On Credit Cycle Index

Authors: Bi-Huei Tsai

Abstract:

Previous studies on financial distress prediction choose the conventional failing and non-failing dichotomy; however, the distressed extent differs substantially among different financial distress events. To solve the problem, “non-distressed”, “slightlydistressed” and “reorganization and bankruptcy” are used in our article to approximate the continuum of corporate financial health. This paper explains different financial distress events using the two-stage method. First, this investigation adopts firm-specific financial ratios, corporate governance and market factors to measure the probability of various financial distress events based on multinomial logit models. Specifically, the bootstrapping simulation is performed to examine the difference of estimated misclassifying cost (EMC). Second, this work further applies macroeconomic factors to establish the credit cycle index and determines the distressed cut-off indicator of the two-stage models using such index. Two different models, one-stage and two-stage prediction models are developed to forecast financial distress, and the results acquired from different models are compared with each other, and with the collected data. The findings show that the one-stage model has the lower misclassification error rate than the two-stage model. The one-stage model is more accurate than the two-stage model.

Keywords: Multinomial logit model, corporate governance, company failure, reorganization, bankruptcy.

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13 Forecasting Stock Price Manipulation in Capital Market

Authors: F. Rahnamay Roodposhti, M. Falah Shams, H. Kordlouie

Abstract:

The aim of the article is extending and developing econometrics and network structure based methods which are able to distinguish price manipulation in Tehran stock exchange. The principal goal of the present study is to offer model for approximating price manipulation in Tehran stock exchange. In order to do so by applying separation method a sample consisting of 397 companies accepted at Tehran stock exchange were selected and information related to their price and volume of trades during years 2001 until 2009 were collected and then through performing runs test, skewness test and duration correlative test the selected companies were divided into 2 sets of manipulated and non manipulated companies. In the next stage by investigating cumulative return process and volume of trades in manipulated companies, the date of starting price manipulation was specified and in this way the logit model, artificial neural network, multiple discriminant analysis and by using information related to size of company, clarity of information, ratio of P/E and liquidity of stock one year prior price manipulation; a model for forecasting price manipulation of stocks of companies present in Tehran stock exchange were designed. At the end the power of forecasting models were studied by using data of test set. Whereas the power of forecasting logit model for test set was 92.1%, for artificial neural network was 94.1% and multi audit analysis model was 90.2%; therefore all of the 3 aforesaid models has high power to forecast price manipulation and there is no considerable difference among forecasting power of these 3 models.

Keywords: Price Manipulation, Liquidity, Size of Company, Floating Stock, Information Clarity

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12 The Effect of Gender and Resources on Entrepreneurial Activity

Authors: Frederick Wedzerai Nyakudya

Abstract:

In this paper, we examine the relationship between human capital, personal wealth and social capital to explain the differences in start-up rates between female and male entrepreneurs. Since our dependent variable is dichotomous, we examine the determinants of these using a maximum likelihood logit estimator. We used the Global Entrepreneurship Monitor database covering the period 2006 to 2009 with 421 usable cases drawn from the Lower Layer Super Output Areas in East Midlands in the United Kingdom. We found evidence indicating that a female positively moderates the positive relationships between indicators of human capital and personal wealth with start-up activity. The findings have implications for programs, policies, and practices to encourage more females to engage in start-up activity.

Keywords: Entrepreneurship, Global Entrepreneurship Monitor, gender gap, women's entrepreneurship.

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11 Female Labor Force Participation in Third World Countries: An Empirical Analysis

Authors: Anam Azam, Muhammad Rafiq

Abstract:

The study identified the socio-economic and demographic factors of both married and unmarried females in third world countries. Almost all the countries have same problems but we have selected Pakistan as a sample country. The main purpose of this study was to examine which factors forced women to participate in labor market. So the best technique of data collection was survey of both married and unmarried females between the ages of 20 to 49. Two models (probit and logit) were used to analyze the factors which effect on FLFP. The result showed that some factors e.g. age; education and marital status have significant effect on FLFP. The findings showed that educated women and those who belong to joint families are more participate because of financial pressure.

Keywords: Education, Financial status, Family pressure Labor Market participation.

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10 Perception of Farmers and Agricultural Professionals on Changes in Productivity and Water Resources in Ethiopia

Authors: D. Mojo, Y. Todo, P. Matous

Abstract:

In this paper, perceptions of actors on changes in crop productivity, quantity and quality of water, and determinants of their perception are analyzed using descriptive statistics and ordered logit model. Data collected from 297 Ethiopian farmers and 103 agricultural professionals from December 2009 to January 2010 are employed. Results show that the majority of the farmers and professionals recognized decline in water resources, reasoning climate changes and soil erosion as some of the causes. However, there is a variation in views on changes in productivity. The household asset, education level, age and geographical positions are found to affect farmers- perception on changes in crop productivity. But, the study underlines that there is no evidence that farmers- economic status, age, or education level affects recognition of degradation of water resources. Thus, more focus shall be given on providing them different coping mechanisms and alternative resource conserving technologies than educating about the problems.

Keywords: Agricultural Sustainability, Ethiopia, Perception, Productivity, Water Resources

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9 Method of Parameter Calibration for Error Term in Stochastic User Equilibrium Traffic Assignment Model

Authors: Xiang Zhang, David Rey, S. Travis Waller

Abstract:

Stochastic User Equilibrium (SUE) model is a widely used traffic assignment model in transportation planning, which is regarded more advanced than Deterministic User Equilibrium (DUE) model. However, a problem exists that the performance of the SUE model depends on its error term parameter. The objective of this paper is to propose a systematic method of determining the appropriate error term parameter value for the SUE model. First, the significance of the parameter is explored through a numerical example. Second, the parameter calibration method is developed based on the Logit-based route choice model. The calibration process is realized through multiple nonlinear regression, using sequential quadratic programming combined with least square method. Finally, case analysis is conducted to demonstrate the application of the calibration process and validate the better performance of the SUE model calibrated by the proposed method compared to the SUE models under other parameter values and the DUE model.

Keywords: Parameter calibration, sequential quadratic programming, Stochastic User Equilibrium, traffic assignment, transportation planning.

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8 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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7 Drivers of Land Degradation in Trays Ecosystem as Modulated under a Changing Climate: Case Study of Côte d'Ivoire

Authors: Kadio Valere R. Angaman, Birahim Bouna Niang

Abstract:

Land degradation is a serious problem in developing countries including Cote d’Ivoire, which has its economy focused on agriculture. It occurs in all kinds of ecosystems over the world. However, the drivers of land degradation vary from one region to another, and from one ecosystem to another. Thus, identifying these drivers is an essential prerequisite to develop and implement appropriate policies to reverse the trend of land degradation in the country, especially in the trays ecosystem. Using the binary logistic model with primary data obtained through 780 farmers surveyed, we analyze and identify the drivers of land degradation in the trays ecosystem. The descriptive statistics show that 52% of farmers interviewed have stated facing land degradation in their farmland. This high rate shows the extent of land degradation in this ecosystem. Also, the results obtained from the binary logit regression reveal that land degradation is significantly influenced by a set of variables such as sex, education, slope, erosion, pesticide, agricultural activity, deforestation, and temperature. The drivers identified are mostly local, as a result, the government must implement some policies and strategies that facilitate and incentive the adoption of sustainable land management practices by farmers to reverse the negative trend of land degradation.

Keywords: Drivers, land degradation, trays ecosystem, sustainable land management.

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6 Choice Experiment Approach on Evaluation of Non-Market Farming System Outputs: First Results from Lithuanian Case Study

Authors: A. Novikova, L. Rocchi, G. Startiene

Abstract:

Market and non-market outputs are produced jointly in agriculture. Their supply depends on the intensity and type of production. The role of agriculture as an economic activity and its effects are important for the Lithuanian case study, as agricultural land covers more than a half of country. Positive and negative externalities, created in agriculture are not considered in the market. Therefore, specific techniques such as stated preferences methods, in particular choice experiments (CE) are used for evaluation of non-market outputs in agriculture. The main aim of this paper is to present construction of the research path for evaluation of non-market farming system outputs in Lithuania. The conventional and organic farming, covering crops (including both cereal and industrial crops) and livestock (including dairy and cattle) production has been selected. The CE method and nested logit (NL) model were selected as appropriate for evaluation of non-market outputs of different farming systems in Lithuania. A pilot survey was implemented between October–November 2018, in order to test and improve the CE questionnaire. The results of the survey showed that the questionnaire is accepted and well understood by the respondents. The econometric modelling showed that the selected NL model could be used for the main survey. The understanding of the differences between organic and conventional farming by residents was identified. It was revealed that they are more willing to choose organic farming in comparison to conventional farming.

Keywords: Choice experiments, farming system, Lithuania market outputs, non-market outputs.

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5 Investigating the Pedestrian Willingness to Pay to Choose Appropriate Policies for Improving the Safety of Pedestrian Facilities

Authors: Babak Mirbaha, Mahmoud Saffarzadeh, Fatemeh Mohajeri

Abstract:

Road traffic accidents lead to a higher rate of death and injury, especially in vulnerable road users such as pedestrians. Improving the safety of facilities for pedestrians is a major concern for policymakers because of the high number of pedestrian fatalities and direct and indirect costs which are imposed to the society. This study focuses on the idea of determining the willingness to pay of pedestrians for increasing their safety while crossing the street. In this study, three different scenarios including crossing the street with zebra crossing facilities, crossing the street with zebra crossing facilities and installing a pedestrian traffic light and constructing a pedestrian bridge with escalator are presented. The research was conducted based on stated preferences method. The required data were collected from a questionnaire that consisted of three parts: pedestrian’s demographic characteristics, travel characteristics and scenarios. Four different payment amounts are presented for each scenario and a logit model has been built for each proposed payment. The results show that sex, age, education, average household income and individual salary have significant effect on choosing a scenario. Among the policies that have been mentioned through the questionnaire scenarios, the scenario of crossing the street with zebra crossing facilities and installing a traffic lights is the most frequent, with willingness to pay 10,000 Rials and the scenario of crossing the street with a zebra crossing with a willingness to pay 100,000 Rials having the least frequency. For all scenarios, as the payment is increasing, the willingness to pay decreases.

Keywords: Pedestrians, willingness to pay, safety, immunization.

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4 Modeling Default Probabilities of the Chosen Czech Banks in the Time of the Financial Crisis

Authors: Petr Gurný

Abstract:

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 creditscoring 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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3 Impact of Proposed Modal Shift from Private Users to Bus Rapid Transit System: An Indian City Case Study

Authors: Rakesh Kumar, Fatima Electricwala

Abstract:

One of the major thrusts of the Bus Rapid Transit System is to reduce the commuter’s dependency on private vehicles and increase the shares of public transport to make urban transportation system environmentally sustainable. In this study, commuter mode choice analysis is performed that examines behavioral responses to the proposed Bus Rapid Transit System (BRTS) in Surat, with estimation of the probable shift from private mode to public mode. Further, evaluation of the BRTS scenarios, using Surat’s transportation ecological footprint was done. A multi-modal simulation model was developed in Biogeme environment to explicitly consider private users behaviors and non-linear environmental impact. The data of the different factors (variables) and its impact that might cause modal shift of private mode users to proposed BRTS were collected through home-interview survey using revealed and stated preference approach. A multi modal logit model of mode-choice was then calibrated using the collected data and validated using proposed sample. From this study, a set of perception factors, with reliable and predictable data base, to explain the variation in modal shift behaviour and their impact on Surat’s ecological environment has been identified. A case study of the proposed BRTS connecting the Surat Industrial Hub to the coastal area is provided to illustrate the approach.

Keywords: BRTS, Private Modes, Mode choice models, Ecological footprint.

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2 Crash Severity Modeling in Urban Highways Using Backward Regression Method

Authors: F. Rezaie Moghaddam, T. Rezaie Moghaddam, M. Pasbani Khiavi, M. Ali Ghorbani

Abstract:

Identifying and classifying intersections according to severity is very important for implementation of safety related counter measures and effective models are needed to compare and assess the severity. Highway safety organizations have considered intersection safety among their priorities. In spite of significant advances in highways safety, the large numbers of crashes with high severities still occur in the highways. Investigation of influential factors on crashes enables engineers to carry out calculations in order to reduce crash severity. Previous studies lacked a model capable of simultaneous illustration of the influence of human factors, road, vehicle, weather conditions and traffic features including traffic volume and flow speed on the crash severity. Thus, this paper is aimed at developing the models to illustrate the simultaneous influence of these variables on the crash severity in urban highways. The models represented in this study have been developed using binary Logit Models. SPSS software has been used to calibrate the models. It must be mentioned that backward regression method in SPSS was used to identify the significant variables in the model. Consider to obtained results it can be concluded that the main factor in increasing of crash severity in urban highways are driver age, movement with reverse gear, technical defect of the vehicle, vehicle collision with motorcycle and bicycle, bridge, frontal impact collisions, frontal-lateral collisions and multi-vehicle crashes in urban highways which always increase the crash severity in urban highways.

Keywords: Backward regression, crash severity, speed, urbanhighways.

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1 Analysis of Residents’ Travel Characteristics and Policy Improving Strategies

Authors: Zhenzhen Xu, Chunfu Shao, Shengyou Wang, Chunjiao Dong

Abstract:

To improve the satisfaction of residents' travel, this paper analyzes the characteristics and influencing factors of urban residents' travel behavior. First, a Multinominal Logit Model (MNL) model is built to analyze the characteristics of residents' travel behavior, reveal the influence of individual attributes, family attributes and travel characteristics on the choice of travel mode, and identify the significant factors. Then put forward suggestions for policy improvement. Finally, Support Vector Machine (SVM) and Multi-Layer Perceptron (MLP) models are introduced to evaluate the policy effect. This paper selects Futian Street in Futian District, Shenzhen City for investigation and research. The results show that gender, age, education, income, number of cars owned, travel purpose, departure time, journey time, travel distance and times all have a significant influence on residents' choice of travel mode. Based on the above results, two policy improvement suggestions are put forward from reducing public transportation and non-motor vehicle travel time, and the policy effect is evaluated. Before the evaluation, the prediction effect of MNL, SVM and MLP models was evaluated. After parameter optimization, it was found that the prediction accuracy of the three models was 72.80%, 71.42%, and 76.42%, respectively. The MLP model with the highest prediction accuracy was selected to evaluate the effect of policy improvement. The results showed that after the implementation of the policy, the proportion of public transportation in plan 1 and plan 2 increased by 14.04% and 9.86%, respectively, while the proportion of private cars decreased by 3.47% and 2.54%, respectively. The proportion of car trips decreased obviously, while the proportion of public transport trips increased. It can be considered that the measures have a positive effect on promoting green trips and improving the satisfaction of urban residents, and can provide a reference for relevant departments to formulate transportation policies.

Keywords: Travel characteristics analysis, transportation choice, travel sharing rate, neural network model, traffic resource allocation.

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