Hybrid knowledge integration using the fuzzy genetic algorithm: prediction of the Korea stock price index

This paper proposes the hybrid knowledge integration mechanism using the fuzzy genetic algorithm for the optimized integration of knowledge from several sources such as machine knowledge, expert knowledge and user knowledge. This mechanism is applied to the prediction of the Korea stock price index. Machine knowledge is generated by applying neural networks to technical indicators, while expert knowledge and user knowledge are generated from the evaluations of external factors that affect the stock market. Cooperative knowledge is generated from the weighted sum of these sources using a genetic algorithm. Experimental results show that the hybrid mechanism can provide more accurate and less ambiguous results. It means that this mechanism is useful in integrating knowledge from multiple sources for an unstructured environment such as the stock market. Copyright © 2004 John Wiley & Sons, Ltd.     

Alternative transportation modes in an urban land use model: A general equilibrium approach

This paper presents and analyzes a general equilibrium transportation demand model. The model was applied to hypothetical cities with populations of 1 and 2 million. Data and coefficients for those cities were obtained from existing metropolitan areas of equivalent sizes. A subway system is found to be uneconomical in the hypothetical city with one million population and with an average population density of 4400 per square mile. However, it is found to be economical and desirable for the hypothetical city with two million population and with an average density of 6900 per square mile.     

Stochastic reserve changes and expansion of bank credit: The case of additional risks

In this paper we examine the effects of introducing additional risks to the Orr-Mellon-Cooper model on the asymptotic behavior of bank credit expansion, and derive monetary policy implications therefrom. Our model of additional risks corrects a loss of generality existing in the Orr-Mellon-Cooper model. It shows that the local solution for optimal credit expansion is the global solution, regardless of the parameters of the reserve loss functions, when the default risk is introduced. The analysis further points out necessary conditions to determine the direction of credit changes caused by a monetary injection under uncertainty.     

An alternative model for fair share allocation of lower income housing

A linear programming model was developed and presented for fair-share allocation of lower income housing as an alternative to existing heuristic models. The model is applied for the Middlesex County region in pursuit of a regional fair-share of lower income housing needs for the year 1975 for each township in the county. The results are presented and compared with those of the Court's allocation, held by the Superior Court of New Jersey in May 1976 for the Middlesex County region.     

The utilization of capital and the growth of output in a developing economy: The case of South Korean manufacturing

This paper presents the utilization rate of capital equipment in the S. Korean manufacturing industry during 1962–1971. The aggregate utilization rate is shown to have increased at an annual rate of about 8%. The level of utilization in S. Korea is found to be generally lower even in 1971 than in the U.S. in 1962, both at the aggregate and sectoral levels. The rise in the utilization rate is shown to have contributed nearly as much as investment has in the growth of manufacturing output. The influence of the residual component declines from 36% to 8% of the recorded growth of output when the increase in the utilization rate is properly allowed for.