Some microscopic traffic simulations on urban road network are developed up to now. However, the effect of urban transport policy in the local city is influenced with the complex interaction of automobile traffic and ...Some microscopic traffic simulations on urban road network are developed up to now. However, the effect of urban transport policy in the local city is influenced with the complex interaction of automobile traffic and public transport traffic. Particularly, behaviours of vehicles should be described with the fuzziness of the subjective recognition and operation. On the other hand, the trip makers are influenced by various transport policies in terms of mode choice behaviour. The change in mode choice behaviour and number of public transport mode users would eventually affect traffic flow conditions on road network. Modal spilt and traffic conditions of a network are interrelated. Therefore, the present study mainly aims to integrate mode choice model and microscopic traffic simulation model based on fuzzy logic. In the study, the fuzzy logic based mode choice model is proposed. The proposed mode choice model and the existing microscopic traffic simulation model are combined. The developed model has been applied on real urban network to demonstrate the effectiveness of the installation of LRT system. Finally, it is helpful for evaluation of transport policy that the fuzzy logic based microscopic traffic simulation with modal choice model has been constructed.展开更多
By introducing a stochastic element to the double-jump diffusion framework to measure the Knight uncertainty of asset return process, this paper builds the model of dynamic portfolio choice, which maximizes the expect...By introducing a stochastic element to the double-jump diffusion framework to measure the Knight uncertainty of asset return process, this paper builds the model of dynamic portfolio choice, which maximizes the expected utility of terminal portfolio wealth. Through specifying the state function of uncertainty-aversion, it utilizes the max-min method to derive the analytical solution of the model to study the effect of the time-varying, jumps, and Knight uncertainty of asset return process on dynamic portfolio choice and their interactions. Results of comparative analysis show： The time-varying results in positive or negative intertemporal hedging demand of portfolio, which depends on the coefficient of investor＇s risk aversion and the correlation coefficient between return shift and volatility shift; the jumps in asset return overall reduce investor＇s demand for the risky asset, which can be enhanced or weakened by the jumps in volatility; due to the existing of the Knight uncertainty, the investor avoids taking large position on risky asset, and the resulting is the improving of portfolio＇s steady and immunity. At last, an empirical study is done based on the samples of Shanghai Exchange Composite Index monthly return data from January 1997 to December 2009, which not only tests the theoretical analysis but also demonstrates that the proposed method in the paper is useful from the aspect of portfotio＇s equivalent utility.展开更多
文摘Some microscopic traffic simulations on urban road network are developed up to now. However, the effect of urban transport policy in the local city is influenced with the complex interaction of automobile traffic and public transport traffic. Particularly, behaviours of vehicles should be described with the fuzziness of the subjective recognition and operation. On the other hand, the trip makers are influenced by various transport policies in terms of mode choice behaviour. The change in mode choice behaviour and number of public transport mode users would eventually affect traffic flow conditions on road network. Modal spilt and traffic conditions of a network are interrelated. Therefore, the present study mainly aims to integrate mode choice model and microscopic traffic simulation model based on fuzzy logic. In the study, the fuzzy logic based mode choice model is proposed. The proposed mode choice model and the existing microscopic traffic simulation model are combined. The developed model has been applied on real urban network to demonstrate the effectiveness of the installation of LRT system. Finally, it is helpful for evaluation of transport policy that the fuzzy logic based microscopic traffic simulation with modal choice model has been constructed.
基金supported by National Natural Science Foundation of China under Grant Nos.71271003 and 71171003Programming Fund Project of the Humanities and Social Sciences Research of the Ministry of Education of China under Grant No.12YJA790041+1 种基金Natural Science Foundation of Anhui Province under Grant No.1208085MG116Key Program of Natural Science Research of High Education of Anhui Province of China under Grant No.KJ2011A031
文摘By introducing a stochastic element to the double-jump diffusion framework to measure the Knight uncertainty of asset return process, this paper builds the model of dynamic portfolio choice, which maximizes the expected utility of terminal portfolio wealth. Through specifying the state function of uncertainty-aversion, it utilizes the max-min method to derive the analytical solution of the model to study the effect of the time-varying, jumps, and Knight uncertainty of asset return process on dynamic portfolio choice and their interactions. Results of comparative analysis show： The time-varying results in positive or negative intertemporal hedging demand of portfolio, which depends on the coefficient of investor＇s risk aversion and the correlation coefficient between return shift and volatility shift; the jumps in asset return overall reduce investor＇s demand for the risky asset, which can be enhanced or weakened by the jumps in volatility; due to the existing of the Knight uncertainty, the investor avoids taking large position on risky asset, and the resulting is the improving of portfolio＇s steady and immunity. At last, an empirical study is done based on the samples of Shanghai Exchange Composite Index monthly return data from January 1997 to December 2009, which not only tests the theoretical analysis but also demonstrates that the proposed method in the paper is useful from the aspect of portfotio＇s equivalent utility.
