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Analysis of Happiness in EU Countries Using the Multi-Model Classification based on Models of Symbolic Data

Abstract

The results of happiness analysis are presented in the form of a World Happiness Report that covers 156 countries and 17 different indicators. In the article model-based clustering ensemble is built to determine what selected European countries have similar patterns of happiness. The results are analyzed using multidimensional scaling and a decision tree to find out what factors determine cluster memberships. In the empirical part, three clusters were detected The first contains countries: Austria, Denmark, Finland, Germany, Ireland, Luxembourg, the Netherlands, Norway, Sweden, Switzerland and the United Kingdom. They have the highest values for all the variables, except the negative affect. The second cluster contains seven countries: Bulgaria, Estonia, Hungary, Lithuania, Poland, Romania and Slovakia. This cluster is also the most homogeneous one. The third cluster contains eight countries: Cyprus, the Czech Republic, France, Greece, Italy, Portugal, Slovenia and Spain.

Open access
Application of Mathematical Modelling for Optimization of Land-Use Management

Abstract

The work has approved the methods of partial economic evaluation of lands by the indicators of yield capacity of agricultural crops, payback of expenditures and differential income for a typical agricultural enterprise, located on the territory of the natural-agricultural province of the Western Forest-steppe. The research supplies proposals concerning improvement of the methods of economic evaluation of lands in Ukraine on the example of the indicators of economic evaluation of the land use at the farming enterprise “GREEN GARDEN”. The indicators are used for the growing of agricultural crops, planning their yield capacity, comparison of the economic fertility of soils and determination of the economic results of growing agricultural crops under the current production conditions in a defined working area.

The research proposes the optimization of land-use management, applying a metrical game on the basis of indicators of the economic evaluation of lands to define the optimal share of agricultural crops in crop rotation. This method can be used to optimize land use in any region. Application of mathematical modeling by indicators of differential income ensures that maximum gross income is obtained under the mixed strategy of the game on better and worse soils in the enterprise.

Open access
The Assessment of a Building’s insurable Value using Multivariate Statistics: The Case of the Czech Republic

Abstract

When concluding a property insurance agreement, adjustment of the insured amount poses a certain risk. From the policyholder’s point of view, the risk measure translates into the chosen target amount, which should correspond to the insurable value.

The aim of the research is to determine a statistical model for prediction of the insurable value with using current models in the Czech Republic. The model for insurable value prediction proposed in this paper accepts the risk of decision making under uncertainty suitably. The model’s foundation is a synthesis of four core models discussing the addressed issue. The methodology is based on a classification tree created by the CART method, and multivariate linear regression. After the classification tree is created, the input variables which contributed to the classification are used in the regression model.

The database consists of 125 family houses which went through a detailed examination (they were documented, measured, and their technical state and legal status were determined), and described in experts’ reports.

The obtained results showed a high degree of statistical association of selected predictors with the estimated insurable value of property, as well as with the acceptable risk, and subsequently, a relatively low percentage of misclassified objects. The proposed multiple regression model proved to be statistically significant and can be used for objective estimations of insurable values free of insurance companies’ strategy. The designed methodology may be applied in other areas as well, for example, in decision-making processes at the population level in crisis situations.

Open access
Conditions of Economic Efficiency of Industrial Enterprises in the Enterprise Life Cycle Stages

Summary

Subject and purpose of work: The purpose of the study is to determine the variables determining the level of synthetic measure of economic efficiency in listed companies of the industry sector as part of their enterprise life cycle.

Materials and methods: The article uses data from annual unitary financial statements of industrial enterprises according to the classification of the Warsaw Stock Exchange and data describing the macroeconomic situation of the state economy. The research period covered the years 1999-2012. In order to examine which factors determine the level of economic efficiency at each stage of the life cycle of enterprises, estimation of econometric models was carried out.

Results: In the models obtained for companies in the growth and maturity stage, statistically significant determinants were obtained only in the field of internal factors. In the models estimated for companies in the stages of launch, shake-out and decline, statistically significant conditions were identified, both in terms of external factors and in the area of internal factors.

Conclusions: A comprehensive assessment of the conditions for the level of economic efficiency of enterprises should take into account both factors dependent on the enterprise (microeconomic) as well as those determined by the environment (macroeconomic) and beyond its control. It is therefore necessary for managers of enterprises to have extensive and up-to-date knowledge of factors and conditions that are significant in shaping the level of economic efficiency.

Open access
Direct Foreign Investment in Peripheral Regions: A Case Study of the Lublin Voivodship

Summary

Subject and purpose of work: The subject of analysis and evaluation are foreign direct investments (FDI) in Poland with particular emphasis on the Lublin Voivodship as a peripheral region. The aim of the paper is to present the investment attractiveness of the voivodship, the state of investment and ways to enhance the investment attractiveness of the region.

Materials and methods: This paper is based on statistical data from the Central Statistical Office (GUS), the National Bank of Poland (NBP) and other institutions, as well as published literature of this topic.

Results: This paper presents theoretical foundations of foreign investments, characteristics of the inflow of foreign direct investments to Poland in the years 2000-2017, their origin and directions of their use and distribution in the country. FDI is presented in detail in Lublin Voivodship, which is considered to be a peripheral region of Poland and the European Union.

Conclusions: FDI inflow to Poland was uneven in time, and investments were concentrated in the Masovian Voivodship and a few other voivodships of Western and Central Poland. Lublin Voivodship, despite activities increasing its investment attractiveness, still has unused opportunities for application of foreign investments.

Open access
Dissimilarity as a Component of the Property Price Model

Abstract

In the course of discussion on an econometric model of property value and its place in property appraisal, the argument of the main goal of the process (property market value prediction itself) was raised in this article. The need for the consideration of an ontologically perceived, particular element of the real estate market with its distinctive characteristics indicates the specific nature of the interpretation of the data which may be used in the appraisal process.

Therefore, a new shape of the property value model, based on LSM, was presented. It takes into account a specific description of the appraised property. Thus, the factor of dissimilarity between sold properties used in creating the value model and the appraised property was used in its coefficient matrix. The new model clearly shows the advantages and disadvantages of the dissimilarities between sold properties used in creating the coefficient matrix of the value model.

Open access
Dwellings for Vulnerable Households-Policy and Practice in the Largest Cities of Poland

Abstract

In Poland municipalities do not fulfil their statutory obligations of providing dwellings for vulnerable households and often limit their activity to merely providing housing for persons to whom the court has granted the right to dwelling in eviction proceedings. However, even for these people there are not enough dwellings. This very difficult situation of Polish municipalities in terms of the provision of direct housing assistance results from history-related problems with the quality of the existing housing stock, a lack of reform of municipal lease rules and insufficient financial resources. The author focused on a comparison of the municipal housing stock management in the largest cities in the context of changes that took place in years 2009-2016. The results of the research proved there were important differences among cities in terms of the activity of applying the available instruments. Despite acting in the same institutional framework, some municipalities were able to improve the housing situation of citizens most in need of assistance, step by step. The survey covered the voivodeship capital cities of Poland. Critical analysis of literature and documents as well as an analysis of statistical data were used.

Open access
Forecasting the Sales of Console Games for the Italian Market

Abstract

In videogames industry, time series analysis can be very useful in determining the general evolution and behaviour of the market dynamics. These methods are applicable to any time series forecasting problem, regardless of the application sector. This article discusses time series approaches to forecast the sales of console games for the Italian market. In particular two univariate techniques were evaluated, exponential smoothing and the SARIMA technique. The aim is to exploit the capabilities of these statistical methods in order to have a comparison of the results and to choose the most accurate model through an ex-post evaluation. Using monthly time-series data from November 2005 to September 2017, the selection of the most suitable model was indicated by the smallest value of the measures of accuracy (MAPE, sMAPE, RMSE) for the out-of-sample observations regarding the period October 2017-September 2018. The implementation of the models was done using Forecast PRO and Gretl. The time series involved is related to the sales regarding the first party manufacturers of consoles and handhelds (Microsoft, Sony and Nintendo).

Open access
Graphical Tools of Discrete Longitudinal Data Presentation in R

Abstract

Good graphical presentation of data is useful during the whole analysis process from the first glimpse into the data to the model fitting and presentation of results. The most popular way of longitudinal data presentation are separate (for each wave, in cross-sectional dimension) comparisons of figures. However, plotting the data over time is useful in suggesting appropriate modeling techniques to deal with the heterogeneity observed in the trajectories. The main aim of this paper is to present the changing perceptions of the financial situation in Poland using different graphical tools for the heterogonous discrete longitudinal data sets and present demographics features for those changes. We will focus on the most important features of the categorical longitudinal data – category sequences and their graphical presentation. We aim to characterize the analyzed sequences on the basis of unidimensional indicators and composite complexity measures, as well as using mainly TraMineR [Gabadinho et al. 2017] package of R.

Open access