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Fundamentals of Transportation and Traffic Operations
Type: Book
ISBN: 978-0-08-042785-0

Book part
Publication date: 21 December 2010

Chandra R. Bhat, Cristiano Varin and Nazneen Ferdous

This chapter compares the performance of the maximum simulated likelihood (MSL) approach with the composite marginal likelihood (CML) approach in multivariate ordered-response…

Abstract

This chapter compares the performance of the maximum simulated likelihood (MSL) approach with the composite marginal likelihood (CML) approach in multivariate ordered-response situations. The ability of the two approaches to recover model parameters in simulated data sets is examined, as is the efficiency of estimated parameters and computational cost. Overall, the simulation results demonstrate the ability of the CML approach to recover the parameters very well in a 5–6 dimensional ordered-response choice model context. In addition, the CML recovers parameters as well as the MSL estimation approach in the simulation contexts used in this study, while also doing so at a substantially reduced computational cost. Further, any reduction in the efficiency of the CML approach relative to the MSL approach is in the range of nonexistent to small. When taken together with its conceptual and implementation simplicity, the CML approach appears to be a promising approach for the estimation of not only the multivariate ordered-response model considered here, but also for other analytically intractable econometric models.

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Maximum Simulated Likelihood Methods and Applications
Type: Book
ISBN: 978-0-85724-150-4

Book part
Publication date: 1 November 2007

Irina Farquhar and Alan Sorkin

This study proposes targeted modernization of the Department of Defense (DoD's) Joint Forces Ammunition Logistics information system by implementing the optimized innovative…

Abstract

This study proposes targeted modernization of the Department of Defense (DoD's) Joint Forces Ammunition Logistics information system by implementing the optimized innovative information technology open architecture design and integrating Radio Frequency Identification Device data technologies and real-time optimization and control mechanisms as the critical technology components of the solution. The innovative information technology, which pursues the focused logistics, will be deployed in 36 months at the estimated cost of $568 million in constant dollars. We estimate that the Systems, Applications, Products (SAP)-based enterprise integration solution that the Army currently pursues will cost another $1.5 billion through the year 2014; however, it is unlikely to deliver the intended technical capabilities.

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The Value of Innovation: Impact on Health, Life Quality, Safety, and Regulatory Research
Type: Book
ISBN: 978-1-84950-551-2

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Energy Power Risk
Type: Book
ISBN: 978-1-78743-527-8

Book part
Publication date: 12 January 2021

Roger Friedland

In this paper, I compare Theodore Schatzki’s practice theory, the existential phenomenology of Martin Heidegger upon whom Schatzki drew in its formation, and my own theory of…

Abstract

In this paper, I compare Theodore Schatzki’s practice theory, the existential phenomenology of Martin Heidegger upon whom Schatzki drew in its formation, and my own theory of institutional logics which I have sought to develop as a religious sociology of institution. I examine how Schatzki and I both differently locate our thinking at the level of practice. In this essay I also explore the possibility of appropriating Heidegger’s religious ontology of worldhood, which Schatzki rejects, in that project. My institutional logical position is an atheological religious one, poly-onto-teleological. Institutional logics are grounded in ultimate goods which are praiseworthy “objects” of striving and practice, signifieds to which elements of an institutional logic have a non-arbitrary relation, sources of and references for practical norms about how one should have, make, do or be that good, and a basis of knowing the world of practice as ordered around such goods. Institutional logics are constellations co-constituted by substances, not fields animated by values, interests or powers.

Because we are speaking against “values,” people are horrified at a philosophy that ostensibly dares to despise humanity’s best qualities. For what is more “logical” than that a thinking that denies values must necessarily pronounce everything valueless? Martin Heidegger, “Letter on Humanism” (2008a, p. 249).

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On Practice and Institution: Theorizing the Interface
Type: Book
ISBN: 978-1-80043-413-4

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Understanding Intercultural Interaction: An Analysis of Key Concepts, 2nd Edition
Type: Book
ISBN: 978-1-83753-438-8

Book part
Publication date: 2 December 2019

Frank Fitzpatrick

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Understanding Intercultural Interaction: An Analysis of Key Concepts
Type: Book
ISBN: 978-1-83867-397-0

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Circular Economy in Developed and Developing Countries: Perspective, Methods and Examples
Type: Book
ISBN: 978-1-78973-982-4

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Fundamentals of Transportation and Traffic Operations
Type: Book
ISBN: 978-0-08-042785-0

Book part
Publication date: 17 January 2009

Frenck Waage

Assume that we generate forecasts from a model y=cx+d+ξ. The constants “c” and “d” are placement parameters estimated from observations on x and y, and ξ is the residual error…

Abstract

Assume that we generate forecasts from a model y=cx+d+ξ. The constants “c” and “d” are placement parameters estimated from observations on x and y, and ξ is the residual error variable.

Our objective is to develop a method for accurately measuring and evaluating the risk profile of a forecasted variable y. To do so, it is necessary to first obtain an accurate representation of the histogram of a forecasting model's residual errors. That is not always so easy because the histogram of the residual ξ may be symmetric, or it may be skewed to either the left of or to the right of its mode. We introduce the probability density function (PDF) family of functions because it is versatile enough to fit any residual's locus be it skewed to the left, symmetric about the mean, or skewed to the right. When we have measured the residual's density, we show how to correctly calculate the risk profile of the forecasted variable y from the density of the residual using the PPD function. We achieve the desired and accurate risk profile for y that we seek. We conclude the chapter by discussing how a universally followed paradigm leads to misstating the risk profile and to wrongheaded decisions by too freely using the symmetric Gauss–normal function instead of the PPD function. We expect that this chapter will open up many new avenues of progress for econometricians.

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Advances in Business and Management Forecasting
Type: Book
ISBN: 978-1-84855-548-8

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