Saturation models: A brief survey and critique

The authors review and compare the papers in this issue on saturation and logistic growth with special emphasis on the structure of the underlying probability models. Influence diagrams are used to illustrate the dependence and independence assumptions and the way in which uncertainty is reflected in key model assumptions and parameters characterizing the models.     

Diffusion of new products in risk-sensitive markets

Diffusion of new products may be deterred by consumers' uncertainties about how they will perform. This paper introduces a decision-theoretic framework for modeling the diffusion of consumables, in which consumers choose between a current and new product so as to maximize expected utility. Consumers that are sufficiently risk-averse delay adoption, and change their prior uncertainties in a Bayesian fashion using information generated by early adopters. Under certain assumptions about the underlying consumer choice process and the market dynamics, the result is logistic growth in the share of consumers that choose the new product. The model can be generalized by allowing for consumer heterogeneity with respect to performance of the new product. The paper concludes with a discussion of applications for market forecasting, design of market trials and other extensions.     

Long-term forecasting with innovation diffusion models: The impact of replacement purchases

The model presented in this paper integrates two distinct components of the demand for durable goods: adoptions and replacements. The adoption of a new product is modeled as an innovation diffusion process, using price and population as exogenous variables. Adopters are expected to eventually replace their old units of the product, with a probability which depends on the age of the owned unit, and other random factors such as overload, style-changes etc. It is shovn that the integration of adoption and replacement demand components in our model yields quality sales forecasts, not only under conditions where detailed data on replacement sales is available, but also when the forecaster's access is limited to total sales data and educated guesses on certain elements of the replacement process.     

Note the use of growth curves in forecasting market development

In this note the four-parameter generalized logistic curve is introduced and some of its properties are discussed. The curve is then fitted to certain data sets. The results indicate that the generalized logistic can be a worthwhile alternative to the more familiar logistic and Gompertz curves.     

Bushfire rate-of-spread forecasting: Deterministic and statistical approaches to fire modelling

The three basic modelling approaches used to explain forest fire behaviour are theoretically, laboratory or empirically based. Results of all three approaches are reviewed, but it is noted that only the laboratory- and empirically based models have led to forecasting techniques that are in widespread use. These are the Rothermel model and the McArthur meters, respectively. Field tests designed to test the performance of these operational models were carried out in tropical grasslands. A preliminary analysis indicated that the Rothermel model overpredicted spread rates while the McArthur model underpredicted. To improve the forecast of bushfire rate of spread available to operational firefighting crews it is suggested that a time-variable parameter (TYP) recursive least squares algorithm can be used to assign weights to the respective models, with the weights recursively updated as information on fire-front location becomes available. Results of this methodology when applied to US Grasslands fire experiment data indicate that the quality of the input combined with a priori knowledge of the performance of the candidate models plays an important role in the performance of the TVP algorithm. With high-quality input data, the Rothermel model on its own outperformed the TVP algorithm, but with slightly inferior data both approaches were comparable. Though the use of all available data in a multiple linear regression produces a lower sum of squared errors than the recursive, time-variable weighting approach, or that of any single model, the uncertainties of data input and consequent changes in weighting coefficients during operational conditions suggest the use of the TVP algorithm approach.     

Multiple time-series modelling: Another look at the canadian money and income data

The practice of modelling the components of a vector time series to arrive at a joint model for the vector is considered. It is shown that in some cases this is not unreasonable. A vector ARMA model is used to model the Canadian money and income data. We also use these data to discuss the issue of differencing a multiple time series. Finally, models based on first and second differences are compared using forecasts.     

New product forecasting

Forecasting new-product performance has been called ‘one of the most difficult and critical management tasks’. It has attracted considerable attention because of the magnitude of the resources devoted to product development and because of the sizeable risks involved in making the go–no-go decisions. In comparison with forecasting sales for established products, there is no sales history, or more generally, the company has no product specific experience related to consumer acceptance, trade support and competitive reactions. This article first presents a review of new product forecasting techniques with an emphasis given to the more recent developments in forecasting models. Then, forecasting procedures are assessed by discussing their benefits and their costs. The third part of the article discusses trends in new product forecasting.     

长沙市大河西先导区创新发展状况分析

本文选取长沙大河西先导区、上海浦东新区以厦天津滨海新区三个创新建设实验区为研究对象,通过研究得出结论如下:(1)三个城区竞争力差异显著;(2)三个城区处于创新竞争力演变的不同阶段;(3)三个城区创新发展指教呈现出明显的梯级差异;(4)三个城区处于创新发展的不同阶段.本文通过综合考虑我国整体的创新发展状况,所得出的实证结论是长沙市先导区还处于创新建设的起步阶段.最后,论文通过分析提出了如下建议:长沙大河西先导区应加大创新资源的投入力度,激励企业技术创新,强化产学研互动创新网络功能,优化创新环境,努力提升先导区环境竞争力.     

Metabolic iteration,evolution and cognition in cellular proliferation

Summary A model for cellular proliferation is described according to which proliferation ensues when metabolism evolves towards commitment to DNA synthesis, and inhibition of proliferation occurs when enzymic interactions are iterated within a few metabolic pathways, another limiting factor being the supply of metabolites. The model successfully describes cellular growth and division as a cognitive process based on interaction within enzymic elements and the genome, and affords an explanation in these terms of some empirical phenomena which have previously been understood only as isolated observations.     

Transfer and templates in scientific modelling

The notion of template has been advocated by Paul Humphreys and others as an illuminating unit of analysis in the philosophy of scientific modelling. Templates are supposed to have the dual functions of representing target systems and of facilitating quantitative manipulation. A resulting worry is that wide-ranging cross-disciplinary use of templates might compromise their representational function and reduce them to mere formalisms. In this paper, we argue that templates are valuable units of analysis in reconstructing cross-disciplinary modelling. Central to our discussion are the ways in which Lotka-Volterra models are used to analyse processes of technology diffusion. We illuminate both the similarities and differences between contributions to this case of cross-disciplinary modelling by reconstructing them as transfer of a template, without reducing the template to a mere formalism or a computational model. This requires differentiating the interpretation of templates from that of the models based on them. This differentiation allows us to claim that the LV models of technology diffusion that we review are the result of template transfer - conformist in some contributions, creative in others.     

Computing and modelling: Analog vs. Analogue

We examine the interrelationships between analog computational modelling and analogue (physical) modelling. To this end, we attempt a regimentation of the informal distinction between analog and digital, which turns on the consideration of computing in a broader context. We argue that in doing so, one comes to see that (scientific) computation is better conceptualised as an epistemic process relative to agents, wherein representations play a key role. We distinguish between two, conceptually distinct, kinds of representation that, we argue, are both involved in each case of computing. Based on the semantic and syntactic properties of each of these representations, we put forward a new account of the distinction between analog and digital computing. We discuss how the developed account is able to explain various properties of different models of computation, and we conceptually compare analog computational modelling to analogue (scale) modelling. It is concluded that, contrary to the standard view, the two practices are orthogonal, differing both in their foundations and in the epistemic functions they fulfil.     

Comparing ex-ante forecasts from a sem and var model: An application to the italian economy

The predictive performance of a large-scale structural econometric model (SEM) of the Italian economy the Prometeia model is compared in this paper with a vector autoregressive (VAR) model estimated for a selection of six main variables of interest. The paper concentrates on the quarterly ex-ante forecasts of GDP growth rate and the annual forecasts of GDP growth and inflation rate, over the period 1980-85. It concludes that no forecaster is systematically better than the other. In particular, the VAR model outperforms the SEM in short-run forecasts, suggesting that, for the latter, more careful attention should be addressed to questions of dynamic specification. On the other hand, for longer intervals, the SEM forecasts are more accurate than the VAR forecasts, in that they can benefit from the judgemental interventions of the model users and the model can pick up the non-linearities of the economy which cannot be captured by the VAR. Given the different kinds of information that can be extracted from the two approaches, it seems more reasonable to consider them as complementary rather than alternative tools for modelling and forecasting. Therefore, rather than attempting to establish the superiority of one type of model over the other, this kind of comparisons should be seen as a useful diagnostic tool for detecting types of model misspecification.     

The impact on the performance of growth curve models of changes in parameter re-estimation period and other factors

A simulation model of a real electricity supply undertaking was used to provide a financial performance measure for growth curve forecasting models. The impact on financial performance was determined when changes were made in (1) the method of estimating the model parameters, (2) the period between re-estimations, (3) the growth curve fitted and (4) the amount of smoothing of the demand time-series. The response to variation of the parameter review period was found to behave surprisingly, in that it exhibited different signs for two different estimation methods. Changes in re-estimation period explained somewhat more of the variation in performance than did a change in growth curve. Correcting the demand series for conditions which were known to be abnormal improved performance.     

Econometric modelling for short‐term inflation forecasting in the euro area

This paper examines the problem of forecasting macro‐variables which are observed monthly (or quarterly) and result from geographical and sectorial aggregation. The aim is to formulate a methodology whereby all relevant information gathered in this context could provide more accurate forecasts, be frequently updated, and include a disaggregated explanation as useful information for decision‐making. The appropriate treatment of the resulting disaggregated data set requires vector modelling, which captures the long‐run restrictions between the different time series and the short‐term correlations existing between their stationary transformations. Frequently, due to a lack of degrees of freedom, the vector model must be restricted to a block‐diagonal vector model. This methodology is applied in this paper to inflation in the euro area, and shows that disaggregated models with cointegration restrictions improve accuracy in forecasting aggregate macro‐variables. Copyright © 2007 John Wiley & Sons, Ltd.     

The role of macroeconometric models in forecasting and policy analysis in the united states

This article stresses how little is known about the quality, particularly the relative quality, of macroeconometric models. Most economists make a strict distinction between the quality of a model per se and the accuracy of solutions based on that model. While this distinction is valid, it leaves unanswered how to compare the‘validity’of conditional models. The standard test, the accuracy of ex post simulations, is not definitive when models with differing degrees of exogeneity are compared. In addition, it is extremely difficult to estimate the relative quantitative importance of conceptual problems of models, such as parameter instability across‘policy regimes’ In light of the difficulty in comparisons of conditional macroeconometric models, many model-builders and users assume that the best models are those that have been used to make the most accurate forecasts are those made with the best models. Forecasting experience indicates that forecasters using macroeconometric models have produced more accurate macroeconomic forecasts than either naive or sophisticated unconditional statistical models. It also suggests that judgementally adjusted forecasts have been more accurate than model-based forecasts generated mechanically. The influence of econometrically-based forecasts is now so pervasive that it is difficult to find examples of‘purely judgemental’forecasts.     

The role of muscle in determining growth and size in teleost fish

Summary Rapid growth to large size in fish results from a sustained recruitment of new fibres into their axial series of myomeres. Cessation of recruitment at a small fish size leads to slow growth and a small final size of the fish. Fibre growth dynamics of fishes evidently govern growth and size through fibres' surface area to length ratios, which control their nutrient assimilation rates.     

Dynamic relationship analysis of us gasoline and crude oil prices

This paper studies the dynamic relationships between US gasoline prices, crude oil prices, and the stock of gasoline. Using monthly data between January 1973 and December 1987, we find that the US gasoline price is mainly influenced by the price of crude oil. The stock of gasoline has little or no influence on the price of gasoline during the period before the second energy crisis, and seems to have some influence during the period after. We also find that the dynamic relationship between the prices of gasoline and crude oil changes over time, shifting from a longer lag response to a shorter lag response. Box-Jenkins ARIMA and transfer function models are employed in this study. These models are estimated using estimation procedure with and without outlier adjustment. For model estimation with outlier adjustment, an iterative procedure for the joint estimation of model parameters and outlier effects is employed. The forecasting performance of these models is carefully examined. For the purpose of illustration, we also analyze these time series using classical white-noise regression models. The results show the importance of using appropriate time-series methods in modeling and forecasting when the data are serially correlated. This paper also demonstrates the problems of time-series modeling when outliers are present.     

The many faces of unification and pluralism in economics: The case of Paul Samuelson's Foundations of Economic Analysis

The history of modern economics abounds with pleas for more pluralism as well as pleas for more unification. These seem to be contradictory goals, suggesting that pluralism and unification are mutually exclusive, or at least that they involve trade-offs with more of one necessarily being traded off against less of the other. This paper will use the example of Paul Samuelson's Foundations of Economic Analysis (1947) to argue that the relationship between pluralism and unification is often more complex than this simple dichotomy suggests. In particular, Samuelson's Foundations is invariably presented as a key text in the unification of modern economics during the middle of the twentieth century; and in many ways that is entirely correct. But Samuelson's unification was not at the theoretical (causal and explanatory) level, but rather at the purely mathematical derivational level. Although this fact is recognized in the literature on Samuelson, what seems to be less recognized is that for Samuelson, much of the motivation for this unification was pluralist in spirit: not to narrow scientific economics into one single theory, but rather to allow for more than one theory to co-exist under a single unified derivational technique. This hidden pluralism will be discussed in detail. The paper concludes with a discussion of the implications for more recent developments in economics.     

发达国家的国家创新战略对我国的启示

本文探讨了发达国家的国家创新战略比较注重、而我国比较忽视的五个方面.一、加强中小学科学教育,从小培养国民的创新思维和创新能力;二、积极支持中小企业在创新活动中发挥关键作用;三、设立具体明确、具有可检验性的创新战略目标;四、注重发挥产业界在创新战略制定中的作用;五、将公众的支持和消费者的参与视为创新成功的重要因素.     

System-based weights versus series-specific weights in the combination of forecasts

System-based combination weights for series r/step-length h incorporate relative accuracy information from other forecast step-lengths for r and from other series for step-length h. Such weights are examined utilizing the West and Fullerton (1996) data set-4275 ex ante employment forecasts from structural simultaneous equation econometric models for 19 metropolitan areas at 10 quarterly step-lengths and a parallel set of 4275 ARIMA forecasts. The system-based weights yielded combined forecasts of higher average accuracy and lower risk of large inaccuracy than seven alternative strategies: (1) averaging; (2) relative MSE weights; (3) outperformance (per cent best) weights; (4) Bates and Granger (1969) optimal weights with a convexity constraint imposed; (5) unconstrained optimal weights; (6) select a ‘best’ method (ex ante) by series and; (7) experiment in the Bischoff (1989) sense and select either method (2) or (6) based on the outcome of e experiment. Accuracy gains of the system-based combination were concentrated at step-lengths two to five. Although alternative (5) was generally outperformed, none of the six other alternatives was systematically most accurate when evaluated relative to each other. This contrasts with Bischoff's (1989) results that held promise for an empirically applicable guideline to determine whether or not to combine.