Integrated Herfindahl–Hirschman Index, Compromise Programming, and ε-Constraint Method For Multicriteria Performance-Based Transportation Budget Allocation

2021 ◽  
pp. 036119812110116
Author(s):  
Tung Q. Truong ◽  
Ji Zhang ◽  
Zongzhi Li ◽  
Lu Wang
Keyword(s):  
Computational Study ◽  
Budget Allocation ◽  
Individual Performance ◽  
Compromise Programming ◽  
Performance Criteria ◽  
Optimal Decision ◽  
Step Method ◽  
Investment Projects ◽  
State And Local ◽  
Constraint Method

This paper introduces a new method for multicriteria performance-based transportation budget allocation. First, the Herfindahl–Hirschman Index (HHI) that has long been used in economics for measuring the level of monopolization in a marketplace is employed to derive the relative weights of multiple non-commensurable transportation performance criteria. Next, a compromise programming (CP) model is formulated to help transform the multicriteria optimization formulation for transportation budget allocation to a single-objective optimization model solvable by minimizing the Chebyshev distance to the ideal levels of performance targets associated with individual performance criteria. Finally, the ε-constraint trade-off analysis method is incorporated into the combined use of HHI and CP framework to iteratively derive the optimal decision outcome. Six-year data on candidate investment projects proposed for a U.S. state-maintained rural Interstate highway system along with data details of the available budget is used in a computational study for method application. Comparative analysis of decision outcomes is conducted with the STEP method for cross validation. It has revealed that the proposed HHI-CP ε-constraint method outperforms the existing method and can be adopted by state and local transportation agencies to carry out effective budget allocation.

The Use of Cost-Benefit Analysis for Evaluating Efficiency of Public Investment Projects (The Case of Sochi-2014 Winter Olympic Games)

2011 ◽  
pp. 57-78
Author(s):  
I. Pilipenko
Keyword(s):  
Net Present Value ◽  
Olympic Games ◽  
Cost Benefit Analysis ◽  
Public Investment ◽  
Cost Benefit ◽  
Investment Efficiency ◽  
Benefit Analysis ◽  
Step Method ◽  
Investment Projects ◽  
The Usa

The paper analyzes shortcomings of economic impact studies based mainly on input- output models that are often employed in Russia as well as abroad. Using studies about sport events in the USA and Olympic Games that took place during the last 30 years we reveal advantages of the cost-benefit analysis approach in obtaining unbiased assessments of public investments efficiency; the step-by-step method of cost-benefit analysis is presented in the paper as well. We employ the project of Sochi-2014 Winter Olympic and Paralympic Games in Russia to evaluate its efficiency using cost-benefit analysis for five accounts (areas of impact), namely government, households, environment, economic development, and social development, and calculate the net present value of the project taking into account its possible alternatives. In conclusion we suggest several policy directions that would enhance public investment efficiency within the Sochi-2014 Olympics.

Using Hierarchical Linear Modeling to Examine Dynamic Performance Criteria Over Time

1997 ◽  
Vol 23 (6) ◽  
pp. 745-757 ◽  
Author(s):  
Diana L. Deadrick ◽  
Nathan Bennett ◽  
Craig J. Russell
Keyword(s):  
Hierarchical Linear Modeling ◽  
Dynamic Performance ◽  
Individual Performance ◽  
Performance Criteria ◽  
Practical Significance ◽  
Linear Modeling ◽  
Modeling Analysis ◽  
And Performance ◽  
Over Time ◽  
Dynamic Criteria

The selection literature has long debated the theoretical and practical significance of dynamic criteria. Recent research has begun to explore the nature of individual performance over time. This study contributes to this body of research through a hierarchical linear modeling analysis of dynamic criteria. The purpose of this study was to investigate the role of ability in explaining initial job performance, as well as the rate of improvement-or performance trend-among a sample of 408 sewing machine operators over a 24 week period. The results of a hierarchical linear modeling analysis suggest that ability measures are differentially related to initial performance and performance improvement trend.

A Study on Efficient Computing Budget Allocation for a Two-Stage Problem

2021 ◽  
pp. 2050044
Author(s):  
Tianxiang Wang ◽  
Jie Xu ◽  
Jian-Qiang Hu
Keyword(s):  
Optimization Problem ◽  
Simulation Optimization ◽  
Risk Measure ◽  
Budget Allocation ◽  
Optimal Decision ◽  
Two Stage ◽  
Second Stage ◽  
Allocation Procedure ◽  
Optimal Computing Budget Allocation ◽  
Sequential Allocation

We consider how to allocate simulation budget to estimate the risk measure of a system in a two-stage simulation optimization problem. In this problem, the first stage simulation generates scenarios that serve as inputs to the second stage simulation. For each sampled first stage scenario, the second stage procedure solves a simulation optimization problem by evaluating a number of decisions and selecting the optimal decision for the scenario. It also provides the estimated performance of the system over all sampled first stage scenarios to estimate the system’s reliability or risk measure, which is defined as the probability of the system’s performance exceeding a given threshold under various scenarios. Usually, such a two-stage procedure is very computationally expensive. To address this challenge, we propose a simulation budget allocation procedure to improve the computational efficiency for two-stage simulation optimization. After generating first stage scenarios, a sequential allocation procedure selects the scenario to simulate, followed by an optimal computing budget allocation scheme that determines the decision to simulate in the second stage simulation. Numerical experiments show that the proposed procedure significantly improves the efficiency of the two-stage simulation optimization for estimating system’s reliability.

scholarly journals Investment activity at the objects of specially protected natural territories of the Tyumen region

2020 ◽  
Vol 157 ◽  
pp. 03003
Author(s):  
Olga Bogdanova
Keyword(s):  
System Analysis ◽  
Investment Project ◽  
Performance Criteria ◽  
Investment Activity ◽  
Object A ◽  
Investment Projects ◽  
Protected Natural Area ◽  
Observation Method ◽  
Ecological Tourism ◽  
Specially Protected Natural Territories

This article discusses the possibilities of investment activities on the territories of objects of specially protected natural territories. The analysis of existing objects with identification of possible types of business activity within the current legislation is carried out. The purpose of this study was to determine the main directions of development of investment activity in territories of especially protected natural objects, and to offer basic stages of the evaluation presents the calculation of key performance criteria as a result of implementation of investment projects of ecological tourism. Criteria for ecological tourism are considered and an algorithm for implementing an investment project on the territory of an object, a specially protected natural area, is developed on the example of the Tyumen region. When writing the article, we used the General scientific method (analysis, synthesis, logical method), statistical method, sample observation method, and system analysis. The main results of this study can be considered the development of an algorithm for evaluating investment projects in specially protected natural areas, as well as methods for their evaluation.

scholarly journals Organizational and institutional environment of the development of the financial mechanism of public-private partnership in Ukraine

2020 ◽  
pp. 6-10
Author(s):  
Bohdana SHULIUK
Keyword(s):  
Local Governments ◽  
Institutional Environment ◽  
Social Institutions ◽  
Public Private Partnership ◽  
Public Authorities ◽  
Private Partnership ◽  
Investment Projects ◽  
Consulting Services ◽  
State And Local ◽  
Financial Mechanism

Introduction. To ensure the proper functioning of the financial mechanism of public-private partnership, it is necessary to create an organizational and institutional environment. Without it, it is impossible to determine the most important vectors of development of this mechanism, as well as the benchmarks by which the formation and selection of the most effective economic and social institutions. The purpose of the paper is to study the organizational and institutional aspects of the development of the financial mechanism of public-private partnership, to identify the main problems, as well as to justify measures to address them. Results. The structure of the organizational and institutional environment of the financial mechanism of public-private partnership in Ukraine is outlined, which consists of: organizational and managerial, financial, scientific-expert and public environment. The first includes public authorities and local governments that form state and local policies in the field of public-private partnership, as well as monitor its implementation. The second includes financial institutions that facilitate the financing of investment projects that are not attractive enough for private business in terms of profitability and risk. The third includes research institutions, expert and consulting organizations, the purpose of which is to provide information and consulting services. The fourth includes civil society institutions, which should participate in the formation of the components of the financial mechanism of public-private partnership, as well as control the process of its functioning and the achievement of planned tasks by partners. It is argued that the development of the institutional environment of the financial mechanism of public-private partnership needs state support. Conclusion. It is substantiated that the effectiveness of the financial mechanism of public-private partnership depends on the organizational and institutional environment, which clearly regulates the rights, responsibilities, sequence of actions reflected in coordinated legislation and allows to take into account the specific regional or sectoral characteristics of the country.

Studying the Nighttime Visibility Performance of Retroreflective Pavement Markers

2019 ◽  
Vol 2673 (9) ◽  
pp. 334-344
Author(s):  
Fan Ye ◽  
Adam Pike
Keyword(s):  
Traffic Control ◽  
The United States ◽  
Performance Criterion ◽  
Visual Performance ◽  
Performance Criteria ◽  
Pavement Markings ◽  
Driving Speed ◽  
Study Results ◽  
State And Local ◽  
Local Agencies

Retroreflective pavement markers (RPMs) supplement or substitute for pavement markings and provide superior visibility during wet nights when the visibility of most pavement markings is significantly reduced. Many state and local agencies in the United States install and maintain RPMs even though they are not required to use them by the Manual on Uniform Traffic Control Devices. A lack of visual performance criterion for in-service RPMs results in non-uniform installation and maintenance of RPMs from agency to agency. There is a need to better establish guidance on the visual performance of RPMs. This paper develops a visibility level (VL) model to assess the visibility of RPMs, based on drivers’ visual demands. After validating the VL model for RPMs, the impacts of retroreflectivity, spacing, number of RPMs, glare, and driving speed on the visibility of RPMs are explored using the VL model. The study results not only confirm the superior visual performance of RPMs over pavement markings but also suggest the RPM performance criteria including placement criteria and minimum luminance/retroreflectivity levels.

BUDGET INVESTMENTS IN UKRAINE: PRIORITIES AND TRENDS

2017 ◽  
Author(s):  
Natalya Yaroshevych ◽  
◽  
Andriy Yakymiv ◽  
Keyword(s):  
The State ◽  
Transport Infrastructure ◽  
Capital Expenditures ◽  
Development Projects ◽  
Capital Investments ◽  
State Budget ◽  
Investment Projects ◽  
State Management ◽  
State And Local ◽  
Budget System

The article investigates the priorities of budget investment and trends in the distribution of capital expenditures among the budgetary system levels in Ukraine during 2010-2019 period. It has been established that capital expenditures of budgets in Ukraine cannot be equated with capital investments from the budget, since they contain articles that are inconsistent with the classical understanding of investments. But the analysis of their dynamics and structure makes it possible to identify the priorities of budget investment and the distribution of budget investment among the budget system levels. It has been established that since 2015 in Ukraine there has been an increase in the share of capital expenditures of the consolidated budget in the total expenditures of the consolidated budget at the expense of local budgets, which are a consequence of an increase in the local budgets resource base in relation to the decentralization reform. A positive trend of growth in the percentage of capital expenditures fulfillment of both state and local budgets was revealed. Also, since 2015, a change in the ratio of capital expenditures among the levels of the budget system in the direction of the prevalence of local budgets and a change in the structure of capital expenditures of the state and local budgets has been revealed: in the state budget, capital transfers to enterprises that are a form of support for certain sectors of the economy are decreasing, but in local budgets they are growing. Thus, the economic function of the state to support individual sectors of the economy is delegated to local budgets. It also revealed a change in priorities in the structure of financing public investment projects from the state budget of Ukraine during 2019-2020 from social development projects to transport infrastructure development projects (70% of funding). It has been established that capital investments from budgets of all levels are not aimed at multiplying budget investments; therefore, an increase in budget capital expenditures does not guarantee the acceleration of the state economic development. The improvement of the investment activities state management system should be realized in the direction of formation and budgetary financing the investment projects that will contribute to the introduction of new technologies, the creation of new jobs and the investment attractiveness of the country.

Statewide Assessment of Broader Economic Benefits from Transportation Investment: Integration of Travel Demand Models and SHRP 2 Project C11 Tools in Maryland

2015 ◽  
Vol 2531 (1) ◽  
pp. 17-25 ◽  
Author(s):  
Eirini Kastrouni ◽  
Elham Shayanfar ◽  
Paul M. Schonfeld ◽  
Subrat Mahapatra ◽  
Lei Zhang
Keyword(s):  
Travel Demand ◽  
Public Investment ◽  
Economic Benefits ◽  
Federal State ◽  
Travel Time Reliability ◽  
Demand Model ◽  
Investment Projects ◽  
Demand Models ◽  
State And Local ◽  
Local Agencies

Project selection and prioritization are of utmost importance to federal, state, and local agencies and should be performed cautiously on the basis of expected project costs and benefits. Informed resource allocation decisions with respect to project candidates not only maximize public investment benefits but create economic opportunities and ultimately improve quality of life. With the use of tools readily available to most state agencies (e.g., travel demand models), along with the open-source SHRP 2 Project C11 tools, planners and engineers can proceed with informed statewide assessments of investment projects that yield benefits in market accessibility, travel time reliability, and connectivity. In this study, a seven-level framework was proposed to integrate a travel demand model with the SHRP 2 Project C11 tools and to showcase its functionality with the Intercounty Connector (ICC) MD-200 in Maryland as a case study. After a customized version of the SHRP 2 tools was developed in which Maryland-specific values were used in lieu of the default SHRP 2 parameters, the results suggested that, in the year 2030, a total increase of approximately 1% in buyer–supplier market accessibility would be achieved in the counties that surrounded the ICC as a result of the new construction. Also, all three corridors parallel to the ICC, which served similar origin–destination pairs, would experience a decrease in recurring and incident delays attributable to the ICC. In dollar terms, the value of the total annual benefits from the ICC construction in the year 2030 would amount to approximately $200 million.

Risk-based performance criteria for real-time reservoir operation

1991 ◽  
Vol 18 (1) ◽  
pp. 36-42 ◽  
Author(s):  
Donald H. Burn ◽  
Henry D. Venema ◽  
Slobodan P. Simonovic
Keyword(s):  
Real Time ◽  
Reservoir Operation ◽  
Compromise Programming ◽  
Performance Criteria ◽  
Programming Algorithm ◽  
Operation Model ◽  
Operational Strategies ◽  
Risk Optimization ◽  
Trade Offs ◽  
Selection Of

Reliability, resiliency, and vulnerability criteria are formulated as risk-based performance measures for the evaluation of a real-time reservoir operation model. The reservoir operation model includes a multi-objective compromise programming algorithm to select, in real time, an optimal operating horizon for the reservoir operation. The utility of the risk-based performance criteria for comparing operational strategies resulting from the selection of different parameters for the compromise programming algorithm is demonstrated. Although trade-offs exist between the performance evaluators, it is shown that appropriate compromises can be reached between the conflicting modeling goals. Key words: reservoir operation, real time, risk, optimization.

scholarly journals Wage Differentials Between The Public And The Private Sector: How Comparable Are The Workers?

2011 ◽  
Vol 4 (5) ◽  
Author(s):  
Josefa Ramoni-Perazzi ◽  
Don Bellante
Keyword(s):  
Private Sector ◽  
Wage Differentials ◽  
Font Size ◽  
Matching Method ◽  
Step Method ◽  
Public And Private ◽  
The Public ◽  
Normal Text ◽  
State And Local ◽  
Public And Private Sector

<p class="Normal1" style="text-align: justify; line-height: normal; text-indent: 0in; margin: 0in 34.2pt 0pt 0.5in;"><span style="font-family: &quot;Times New Roman&quot;,&quot;serif&quot;; color: black; font-size: 10pt; mso-bidi-font-style: italic;">This paper&rsquo;s purpose is to examine the importance of controlling for the comparability of the units in a sample when examining wage differentials of various types. We use U.S. CPS data for the period 1992-2000 to compare estimated wage differentials between public and private sector workers obtained using two different methodologies: Lee&rsquo;s two-step method that controls for the selection bias resulting from the non-randomness of the sample, and the propensity score matching method that controls also for the comparability of the workers. Lee&rsquo;s method suggests that federal workers are paid a premium, while state and local workers are underpaid compared to private sector workers. However the matching method indicates that this data is too heterogeneous to be used to compare wages across sectors. We conclude that, when the outcome under study is not only affected by some sort of selection but also requires comparable groups, the traditional methodology may not be enough. </span></p>

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