Abstract
Hi-Pass, an electronic toll collection system in Korea has experienced constant growth for 13 years since its introduction. Though various studies has been undertaken on the characteristic and user behavior of Hi-Pass service, predicting its future trend has been rarely attempted. This paper focuses on the mid-to long term forecasting based on Bass diffusion model. To overcome the limitation of nonlinear least squares method relying solely on actual data series and gain reasonable forecasts based on various scenarios, we adopt the restricted nonlinear least squares method referring to Japanese market. Forecasts resulted from the analysis are expected to provide valuable guidelines for decision makers.
| Translated title of the contribution | A Mid-to Long-term Demand Forecasting on Hi-Pass Service in Korea : Based on Diffusion Model and Japanese Case |
|---|---|
| Original language | Korean |
| Pages (from-to) | 93-107 |
| Number of pages | 15 |
| Journal | 한국경영공학회지 |
| Volume | 19 |
| Issue number | 1 |
| State | Published - Mar 2014 |