• Analyses & Alternatives
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• v.5 no.1
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• pp.3-24
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• 2021

This paper introduces a multilevel item-response-theory (IRT) model as a unifying model for hypothesis testing using legislative voting data. This paper shows that a probit or logit model is a special type of multilevel IRT model. In particular, it is demonstrated that, when a probit or logit model is applied to multiple votes, it makes unrealistic assumptions and produces incorrect coefficient estimates. The advantages of a multilevel IRT model over a probit or logit model are illustrated with a Monte Carlo experiment and an example from the U.S. House. Finally, this paper provides a practical guide to fitting this model to legislative voting data.

• Health Policy and Management
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• v.9 no.2
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• pp.1-20
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• 1999

This study was conducted to investigate the predictors of hospital bankruptcy in Korea and to examine the predictive power for 3 types of statistical models of hospital bankruptcy. Data on 17 financial and 4 non-financial indicators of 30 bankrupt and 30 profitable hospitals in 1. 2, and 3 years before bankruptcy were obtained from the hospital performance databank of Korea Institute of Health Services Management. Significant variables were identified through mean comparison of each indicator between bankrupt and profitable hospitals, and the predictive power of statistical models of hospital bankruptcy were compared. The major findings are as follows. 1. Nine out of 21 indicators - fixed ratio, quick ratio, operating profit to total assets, operating profit to gross revenue, normal profit to total assets,normal profit to gross revenue, net profit to gross revenue, inventories turnrounds, and added value per adjusted patient - were found to be significantly predictitive variables in Logit and Probit models. 2. The predicdtive power of discriminant model of hospital bankruptcy in 1. 2, and 3 years before bankruptcy were 85.4, 79.0, and 83.8% respectively. With regard to the predictive power of the Logit model of hospital bankruptcy, they were 82.3, 75.8, and 80.6% respectively, and of the Probit model. 87.1. 80.6, and 88.7% respectively. 3. The predictive power of the Probit model of hospital bankruptcy is better than the other two predictive models.

• Journal of Korean Society of Rural Planning
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• v.17 no.1
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• pp.59-65
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• 2011

Re-visitation have an effect on dependent variables of regional tourism demand model. This study focused on the re-visitation impacts of consideration on sustainable tourism development of tourists as a new factors of tourism. Based on literature reviews, 11 variables were selected, a questionnaire survey was given to 406 tourists divided into 5 tourism sites at Chuncheon city, and logit model and probit model were used for analysis. The fitness levels of two models were very significant(p=0.0000). The study results suggest that the likelihood of the rural tourist to make a return visit is influenced by recognition of sustainable tourism, purchase of souvenir and farm produce, visitation of regional shops, conversation with regional residents, residents' participation on development, age and marriage. The results of such re-visitation demand can provide information for regional development strategies. The approach to re-visitation research impacts of consideration on sustainable tourism development is expected to become a useful foundation in studying on sustainable regional development.

• Journal of the Korean Statistical Society
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• v.26 no.4
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• pp.493-505
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• 1997

The analysis of binary data appears to many areas such as statistics, biometrics and econometrics. In many cases, data are often collected in which some observations are incomplete. Assume that the missing covariates are missing at random and the responses are completely observed. A method to Bayesian analysis of the binary regression model with incomplete data is presented. In particular, the desired marginal posterior moments of regression parameter are obtained using Meterpolis algorithm (Metropolis et al. 1953) within Gibbs sampler (Gelfand and Smith, 1990). Also, we compare logit model with probit model using Bayes factor which is approximated by importance sampling method. One example is presented.

• Environmental and Resource Economics Review
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• v.16 no.3
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• pp.427-449
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• 2007

This study estimates the recreation benefits of rafting on the Hantan River. A choice experiment is conducted and the economic values of controlling water stream and water quality are estimated. Both the conditional logit and the multinomial pro bit models are estimated. This study rejects the IIA assumption of the conditional log it model and supports using a more flexible model such as the multinomial probit model.

• Journal of Distribution Science
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• v.16 no.11
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• pp.37-45
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• 2018

Purpose - Recently, large quantities of factors have affected the signing of the Free Trade Agreement between two countries. Due to this background, this paper selects South Korea as an example to explore the determinants of Free Trade Agreement from Asian countries. Research design, data, and methodology - A cross sectional data of 2016 will be employed and some variables such as real income and GDP will be used to run an empirical analysis under the linear probability model, probit model and logit model. Results - The findings show that the Asian countries' exchange rate regime, real income, GDP and so forth can increase the probability of signing the Free Trade Agreement with Asian countries. Conversely, the distance can lower the probability of signing the Free Trade Agreement with Asian countries. Meanwhile, although the Asian countries' import, consumer price index and population also can affect the probability of signing the Free Trade Agreement with Asian countries, the estimated coefficients are not statistically significant at 5% level. Conclusions - According to the empirical results, this paper provides a new scope for South Korea's government to sign the Free Trade Agreement with other Asian countries.

• Journal of Korean Society of Rural Planning
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• v.24 no.4
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• pp.27-35
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• 2018

This study analyzed the factors influencing the choice of new farming type in order to prepare the countermeasures against structural changes of farm labor force. The analytical model was the multinomial logit model(MNL). The test for Independence and Irrelevance Alternatives(IIA) assumption in MNL shows that the IIA assumption in our data is rejected. Alternatively, we chose the multinomial probit model(MNP) that does not assume IIA. Data were obtained from 2010 census of Agriculture, Forestry and Fisheries of Statistics Korea. New farming types are succession(13.9%), return-to-farming(45.0%), part-time-farming(32.5%) and etc(8.6%). Analysis results showed that the characteristics of farms, commodity, management, and region influenced the choice of new farming type. This study is expected to help policy makers to produce support policies by new farming types in order to increase the number of new farmers and to make them easier to settle down in agriculture.

• Journal of Korea Technology Innovation Society
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• v.7 no.1
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• pp.64-88
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• 2004

This paper aims at investigating which factors play important roles in selecting government's new core IT industries and how competitive they are. We surveyed 6 competitiveness factors and 17 IT industries for the expert group. The logit and probit models were estimated and SWOT analysis was performed. The empirical results show that government put emphasis on marketability, externality and technology, not publicity, when selecting IT new core industry. The skilled human resources turn out to be a threat factor in the government selected IT new core industries such as home-network, third generation semi-conductor. Therefore, training or education system for skilled labors is required to develop and nurture such industries. The contribution to small medium venture industry and publicity are lower in the several industries such as intelligent service robots, post PC, embodied S/W, next generation battery, which are selected by government, not by standardized data based criterion. in such industries, marketabilities, technology, skilled human resources are threats factors to such industries. Therefore every effort for enhancing the marketability and R&D investment and education system for skilled labor are necessary to develop the industries.

• Asia Pacific Journal of Business Review
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• v.5 no.2
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• pp.19-44
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• 2021

Sub Saharan Africa (SSA) is receiving increased investments in the energy sector under the belt and road initiative (BRI) project since its inception in 2013. SSA has a worse energy efficiency ratio coupled with deficient electricity access, through analysis showed varied impacts on the SSA countries due to the BRI initiative. This study dilves into the influencing factors for Energy Efficiency (EE) in 38 SSA countries, applying the probit and logit approach for 2000-2018. The Multiple-regression model shows significant results of some variables such as foreign direct investment, gross domestic product, and port infrastructure quality being significant on EE under BRI initiative countries. However, the logit and probit models produce similar results and the marginal effect for the entire variable, except energy imports that do not likely impact EE. Furthermore, the interaction of quality of port infrastructure and foreign direct investment variables produces significant results, highlighting the increased investments SSA receives under the BRI initiative in the energy and transport sectors. The model Percent correctly predicted (PCP) value was about 84%, indicating it correctly classified the variables and about 16% not classified. The study recommends EE performance standards should be incorporated on energy projects in SSA to ensure that these projects are energy efficient and decouple SSA's energy demand from economic growth. The research proffers suggestions for policy regarding the BRI initiative in SSA and the implications on sustainable energy and building a community with a shared future.

• Journal of Korean Society of Rural Planning
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• v.18 no.2
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• pp.39-45
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• 2012

The objective of this study was to analyze the determinant factors in the new agricultural technology acceptance targeted to the automatic switchgear for heat-retaining mulching used on the oriental melons farms. The probit and the logit models were estimated using survey data. The result indicated that the level of income, innovativeness, and reliability are important factors of the new agricultural technology acceptance. Therefore, it is considered the level of income, innovativeness, and reliability in advance to extend the new agricultural technology quickly.