Modeling Dependency with Copula: Implications to Engineers and Planners

Friday, September 28, 2012, 12:00pm to 1:00pm PDT
Haizhong Wang, Oregon State University

The video begins at 0:47.

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The modelling of dependence relations between random variables is a typically studied subject in probability theory and statistics. In the recent decade, the concept of copula gained enormous success in finance and economics in the risk management and analysis context. Engineers started investigating the applications of copula in recent years; it has been widely used in Hydrology and climate studies to model rainfall and overspill risk. As a powerful tool to model dependence, copula has been applied to travel behavior modeling and model choice by several researchers. Dr. Wang will share his understanding of copula and its implications to engineers and planners in a more general uncertainty modeling framework. Some of the ongoing research efforts regarding how copula is being applied to transportation network entrance-ramp flow dependency and spatial-temporal travel time reliability study at Oregon State University.

Speaker Bio: Dr. Wang recently joined OSU from the Trine University in Angola, Indiana where he worked as assistant professor with the Reiners Department of Civil and Environmental Engineering. Before joining Trine University, he spent a short time as a research associate with Institute for Multimodal Transportation at Jackson State University in Jackson, Mississippi. His experience in the operation, planning, modeling, and simulation of multimodal transportation systems serves as the foundation for his current research and teaching interests. Dr. Wang’s research interests include the mathematical modeling and simulation of the multimodal transportation system at varying levels (macroscopic, mesoscopic, and microscopic), stochastic modeling and probabilistic predictions, traffic flow theory and optimization, transportation system analysis and planning, emergency management and disaster response. His teaching interests include transportation engineering, transportation system analysis, traffic flow analysis and control, highway engineering, stochastic process and its application to engineering. More information about Dr. Wang can be found at httpcce.oregonstate.edupeoplefacultywang.html