• Title/Summary/Keyword: Random Utility Model

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Utility Maximization, The Shapes of the Indifference Curve on the Characteristic Space and its Estimation: A Theoretical Approach (개인여객 효용의 극대화 및 운송특성공간상의 무차별곡선의 형태와 그 추정)

  • Kim, Jong-Seok
    • Journal of Korean Society of Transportation
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    • v.27 no.2
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    • pp.157-168
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    • 2009
  • The random utility theory and the multinomial logit model (including a more recent variant--the mixed multinomial logit) derived from it have constituted a back bone for theoretical and empirical analyses of various travel demand features including mode choice. In their empirical applications, however, it is customary to specify random utilities which are linear in modal attributes such as time and cost, and in socio-economic variables. The linearity helps easy derivation of important information such as value of travel time savings by calculating marginal rate of substitution between time and cost. In this paper the author focuses on the very linearity of the random utilities. Taking into account the fact that the mode chooser is also labour supplier, commodity consumer as well as leisure-seeker, the author sets up a maximization model of the traveller, which encompasses various economic activities of the traveller. The author derive from the model the indifference curve defined on the space of modal attributes, time and cost and investigate under what conditions the random utility of the traveller becomes linear. It turns out that there exist the conditions under which the random utility is really linear in modal attributes, but the property does not hold when the traveller has a corner solution on the space of modal attributes, or when the primary utility function of the traveller is directly affected by labour provided and/or the travel time itself. As a corollary of the analysis, a random utility is suggested, approximated up to the second order of the variables involved for empirical studies of the field.

Application of Random Regret Minimization Model in the Context of Intercity Travel Mode Choice (지역간 수단선택에 있어서 확률적 후회 최소화 모형의 적용 연구)

  • Jin, Woo-Jeong;Lee, Jang-Ho
    • Journal of the Korean Society for Railway
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    • v.19 no.1
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    • pp.87-96
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    • 2016
  • The multinomial logit model, based on random utility maximization (RUM) theory, has been the predominant model used in travel mode choice contexts. In this paper, the travel mode choice model based on random regret minimization (RRM) theory is proposed as an alternative to the RUM model, and the applicability of the RRM model is examined. The presented model is applied to the case of inter-city travel mode choice in Korea. The empirical results show that the RUM model and RRM model have parameters that are consistent with the intuition. The goodness of fit statistics in the RRM model improved compared with the results of the RUM model. Consequently, these results show the possibility of using the RRM model in the context of travel mode choice.

Random Utility Models and the Value of National Parks in Korea (확률효용모형 분석을 통한 국립공원의 경제적 가치 평가)

  • Kwon, Oh Sang
    • Environmental and Resource Economics Review
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    • v.14 no.1
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    • pp.51-73
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    • 2005
  • The purpose of this study is estimating the value of recreation of the eighteen national parks in Korea. A conditional logit model and a nested logit model have been estimated for the purpose. The data used for the study have been collected via a national level off-site survey. In addition, the annual aggregate data on the number of visitors to each park have been combined with the survey data to derive more reliable estimates. The paper finds that there are substantial differences in preferences for mountain and marine national parks. Not only the value of each park but also the values of the main characteristics of the parks are estimated.

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Analysis on the business strategy and policy for the alternative fuel vehicle : Using stated preference data (대체연료 자동차에 대한 소비자 선호 분석을 통한 산업전략과 기술정책에 관한 연구)

  • 김연배;정기철;안지운;이정동
    • Proceedings of the Technology Innovation Conference
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    • 2006.02a
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    • pp.264-297
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    • 2006
  • In this paper, we attempt to analyze consumer preference for the alternative-fuel vehicles based on data from a stated preference using the conjoint analysis. Five possible fuel types (gasoline, diesel, CNG, LPG, Hybrid (electricity+gasoline)) are covered in conjoint cards. To estimate and analyze consumer preference, discrete choice model is used. Specifically, Bayesian mixed logit model is used. Based on estimating results, we discuss the business strategy and policy for the alternative fuel vehicle.

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Reliability assessment of concrete bridges subject to corrosion-induced cracks during life cycle using artificial neural networks

  • Firouzi, Afshin;Rahai, Alireza
    • Computers and Concrete
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    • v.12 no.1
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    • pp.91-107
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    • 2013
  • Corrosion of RC bridge decks eventually leads to delamination, severe cracking and spalling of the concrete cover. This is a prevalent deterioration mechanism and demands for the most costly repair interventions during the service life of bridges worldwide. On the other hand, decisions for repairs are usually made whenever the extent of a limit crack width, reported in routine visual inspections, exceeds an acceptable threshold level. In this paper, while random fields are applied to account for spatial variation of governing parameters of the corrosion process, an analytical model is used to simulate the corrosion induced crack width. However when dealing with random fields, the Monte Carlo simulation is apparently an inefficient and time consuming method, hence the utility of neural networks as a surrogate in simulation is investigated and found very promising. The proposed method can be regarded as an invaluable tool in decision making concerning maintenance of bridges.

Application of a Statistical Disclosure Control Techniques Based on Multiplicative Noise (승법잡음모형을 이용한 통계적 노출조절기법의 적용)

  • Kim, Young-Won;Kim, Tae-Yeon;Ki, Kye-Nam
    • The Korean Journal of Applied Statistics
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    • v.24 no.1
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    • pp.127-136
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    • 2011
  • Multiplicative noise model is the one of popular method for masking continuous variables. In this paper, we propose the transformation on the variable to which random noise was multiplied. An advantage of the masking method using proposed transformation is that the masking data users can obtain the unbiased values of mean and variance of original (unmasked) data. We also consider the data utility and correlation structure of variables when we apply the proposed multiplicative noise scheme. To investigate the properties of the method of masking based on multiplicative noise, a simulation study has been conducted using the 2008 Householder Income and Expenditure Survey data.

Valuing Natural Park as Environmental and Cultural Resources : Mu Deung Mt. as a Case Study (환경자원과 문화자원으로서 자연공원의 가치추정 - 무등산 자연공원을 사례로 -)

  • Eom, Young Sook;NamGung, Mun
    • Environmental and Resource Economics Review
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    • v.10 no.1
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    • pp.1-23
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    • 2001
  • This paper reviews a single trip decision to visit individual sites of a natural park within a random utility framework as an alternative to travel cost model. The model is applied to a 1998 survey of on-site visitors to Mu Deung Mt. neighboring Kwang Ju. city. Out of four sites considered, the model seemed to provide a reasonable description of behavior for three sites. In addition to travel costs as an implicit price, variables reflecting characteristics of each site also influenced decisions to visit the site. Moreover, benefits estimates derived from the RUM implied that visitors placed three times higher values on a site based on cultural inheritance compared with those of two recreational sites.

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Quantile estimation using near optimal unbalanced ranked set sampling

  • Nautiyal, Raman;Tiwari, Neeraj;Chandra, Girish
    • Communications for Statistical Applications and Methods
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    • v.28 no.6
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    • pp.643-653
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    • 2021
  • Few studies are found in literature on estimation of population quantiles using the method of ranked set sampling (RSS). The optimal RSS strategy is to select observations with at most two fixed rank order statistics from different ranked sets. In this paper, a near optimal unbalanced RSS model for estimating pth(0 < p < 1) population quantile is proposed. Main advantage of this model is to use each rank order statistics and is distributionfree. The asymptotic relative efficiency (ARE) for balanced RSS, unbalanced optimal and proposed near-optimal methods are computed for different values of p. We also compared these AREs with respect to simple random sampling. The results show that proposed unbalanced RSS performs uniformly better than balanced RSS for all set sizes and is very close to the optimal RSS for large set sizes. For the practical utility, the near optimal unbalanced RSS is recommended for estimating the quantiles.

Opportunistic Spectrum Access with Dynamic Users: Directional Graphical Game and Stochastic Learning

  • Zhang, Yuli;Xu, Yuhua;Wu, Qihui
    • KSII Transactions on Internet and Information Systems (TIIS)
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    • v.11 no.12
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    • pp.5820-5834
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    • 2017
  • This paper investigates the channel selection problem with dynamic users and the asymmetric interference relation in distributed opportunistic spectrum access systems. Since users transmitting data are based on their traffic demands, they dynamically compete for the channel occupation. Moreover, the heterogeneous interference range leads to asymmetric interference relation. The dynamic users and asymmetric interference relation bring about new challenges such as dynamic random systems and poor fairness. In this article, we will focus on maximizing the tradeoff between the achievable utility and access cost of each user, formulate the channel selection problem as a directional graphical game and prove it as an exact potential game presenting at least one pure Nash equilibrium point. We show that the best NE point maximizes both the personal and system utility, and employ the stochastic learning approach algorithm for achieving the best NE point. Simulation results show that the algorithm converges, presents near-optimal performance and good fairness, and the directional graphical model improves the systems throughput performance in different asymmetric level systems.

A Study on the Utility of FRBR Model in Korean Bibliographic Record (한국어 서지레코드에 있어 FRBR 모형의 유용성에 관한 연구)

  • Kim, Jeong-Hyen
    • Journal of the Korean Society for Library and Information Science
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    • v.41 no.4
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    • pp.295-314
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    • 2007
  • IFLA's FRBR model is a significant contribution to cataloging on both theoretical and practical grounds. This paper provides a brief overview of FRBR, a methodology for applying the FRBR work concept to a random sample of 1,000 bibliographic records taken from Korean National Bibliographic, and estimates of the number of works in Korean National Bibliographic and their associated characteristics, based on analysis of the sample. FRBR model can be applied to 16.9% of all works in Korean National Bibliographic. Results suggest that the majority of benefits associated with applying FRBR to Korean National Bibliographic could be obtained by concentrated on a relatively small number of complex works.