• Title, Summary, Keyword: Time-differentiated pricing

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An Idea, Strategy of Congestion Pricing for Differentiated Services and Forecasting Probability of Access using Logistic Regression Model (차등서비스를 위한 혼잡요금부과의 타당성 검토와 로지스틱 회귀모형을 이용한 인터넷 접속 확률 예측)

  • Ji Seonsu
    • Journal of the Korea Industrial Information Systems Research
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    • v.10 no.1
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    • pp.9-15
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    • 2005
  • Congestion control is an important research area in computer network. In this paper, I provided strategy of congestion pricing with differentiated services. And, suggested forecasting model of access that considered differentiated pricing, delay time, satisfaction using logistic regression. In a forecasting model of access with logistic regression technique, it is shown that coefficient of determination using suggested model is $70.7\%$.

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Congestion Pricing Function of Internet Differentiated Services for Social Benefit (사회적 편익을 위한 인터넷 차등서비스의 혼잡요금함수)

  • Ji Seon-Su
    • Journal of the Korea Industrial Information Systems Research
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    • v.11 no.2
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    • pp.9-17
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    • 2006
  • Over the last couple of years, established Cumulus Pricing Scheme(CPS) has become an important research issue for efficiently charging differentiated internet services. This paper proposes the adjusted CPS technique that expressed information of over or under-use of resources in bandwidth. And, 1 propose CPS with respect to the six main pricing and charging conditions. Also, accumulation technique may indicate an information between specified charging and eventually requires to adapt the initial contract. So called red and green Cumulus Points(CP) are used to judge the behavior of customer. At this point, the actual resource consumption is described by function v(t) at time t.

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An Optimal Incentive-Compatible Pricing for Congestible Networks (혼잡이 있는 네트워크를 위한 동기 유발 가격)

  • Kim, Yong-Jae
    • Asia pacific journal of information systems
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    • v.7 no.3
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    • pp.109-124
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    • 1997
  • Pricing information services, where congestion can threaten the efficient operation of information systems, has been studied in economics and information systems literature, Recent explosion of the Internet ana proliferation of multimedia content over the Internet have rekindled the research interest in designing pricing schedules for differentiated information services, In order for the information system to effectively serve users having heterogeneous needs, pricing rules for discriminated services should be considered. At the same time, when individual users' interest does not align with that of the organization that individual users belong to, organization-wide pricing policy should be devised to improve the value of the services rendered by the system. This paper, using a priority queuing model, addresses the need for such on incentive-compatible pricing for different information services.

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Investigating the Impacts of Different Price-Based Demand Response Programs on Home Load Management

  • Rastegar, Mohammad;Fotuhi-Firuzabad, Mahmud;Choi, Jaeseok
    • Journal of Electrical Engineering and Technology
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    • v.9 no.3
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    • pp.1125-1131
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    • 2014
  • Application of residential demand response (DR) programs are currently realized up to a limited extent due to customers' difficulty in manually responding to the time-differentiated prices. As a solution, this paper proposes an automatic home load management (HLM) framework to achieve the household minimum payment as well as meet the operational constraints to provide customer's comfort. The projected HLM method controls on/off statuses of responsive appliances and the charging/discharging periods of plug-in hybrid electric vehicle (PHEV) and battery storage at home. This paper also studies the impacts of different time-varying tariffs, i.e., time of use (TOU), real time pricing (RTP), and inclining block rate (IBR), on the home load management (HLM). The study is effectuated in a smart home with electrical appliances, a PHEV, and a storage system. The simulation results are presented to demonstrate the effectiveness of the proposed HLM program. Peak of household load demand along with the customer payment costs are reported as the consequence of applying different pricings models in HLM.

Some evidence on time- and priority-dependent pricing in differentiated Internet Services (우선순위를 가진 인터넷 서비스 종량제와 종가제 사용에 대한 증거들)

  • Kim, Yong-Jae
    • Proceedings of the Korea Society for Industrial Systems Conference
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    • pp.547-550
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    • 2008
  • 인터넷 서비스가 차별화 되어야 한다는 논의는 인터넷이 본격적으로 상용화된 1990넌대 중반부터 꾸준하게 제기되어 왔다. Tragedy of commons 라고 불리는 인터넷 혼잡현상은 지속적인 기술발전으로 인해서 상당부분 해결되었으나, 최근 들어서는, Web 2.0의 등장을 통해 동영상 파일이 차지하는 비중이 늘어나면서 P2P를 통한 파일교환이 전체 인터넷 트래픽의 상당 부분을 차지하면서, 또한 실시간 미디어, VoIP 등의 인터넷 응용 프로그램 등에서 전송상의 지연을 포함한 QoS 보장을 요구하게 되면서, 또한 통신사업자의 망중립성에 관한 논의가 진행되면서, 인터넷 서비스를 차별화하고, 통제하려는 연구의 중요성이 증대되고 있다. 본 연구는 인터넷 서비스를 차별화하기 위한 수단으로 기존에 제시되어온 자격과 우선순위라는 2개의 차원에서 그리고 가격제도로서 종가제와 종량제의 차원에서 배경을 검토해본 다음, 우선 대기열 이론과 혼잡성 제어 이론을 통해서 차별화된 서비스가 전체 시스템에어떤 구체적으로 효익을 가져오는 지를 검토하며, 우선순위와 사용시간에 따라 차별화되는 종량제가 현실에서 발견되지 않는 이유에 대한 이론적인 근거를 제시하고, 종량제를 채택했을 경우에 발생하는 문제점과 종량제 사용에서 발생하는 한계들을 논의하면서, 현실적으로 종량제와 차별가격을 도입할 때 발생할 수 있는 문제점들을 밝혀본다.

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A study on the economic efficiency impacts of Real-Time Pricing for revenue reconciliation (수익보정 방법에 따른 실시간 요금제의 효용성 비교에 관한 연구)

  • Park, Kyoung-Han;Hong, Hee-Jung;Kang, Dong-Ju;Han, Seok-Man;Chung, Koo-Hyung;Kim, Balho-H.
    • Proceedings of the KIEE Conference
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    • pp.113-114
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    • 2007
  • For restructure of korean power system, we needs research and development concerning RTP and Revenue Reconciliation. In these Implementations the real-time prices are updated at half-hourly or hourly intervals and in no case are the prices spatially differentiated. The implemented rates are based upon marginal generating costs with markups to account for system transmission and distribution costs or other revenue reconciliation needs. This paper analyzes how great is the impact of alternative price markup methods on measures of social welfare and customer responses. A case study and energy sales are also presented.

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A Practical Approach to Implement QoS in Broadband Access Networks (광대역 접속망에서 QoS 구현을 위한 현실적 접근법)

  • Park Seung-Chul
    • Journal of KIISE:Information Networking
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    • v.33 no.3
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    • pp.277-287
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    • 2006
  • Most of the existing broadband access networks based on DSL, cable modem, and Ethernet support the best-effort internet access service, and adopt the flat rate pricing mechanism. It is almost impossible to provide the differentiated communication services, in current broadband access networks, for the different users and/or the different application services. Currently, however, the advances in multimedia, communication, and security technologies push the interactive and/or streaming multimedia services and VPN services to be widely deployed over Internet, and they require more QoS-sensitive services than the best-effort service. Though various QoS technologies such as RSVP-based IntServ and DiffSern were already developed and under standardization in Internet world, it is impractical to replace the existing QoS-unaware access networks with the QoS-enabled ones at a time to deploy QoS-sensitive services. In this paper, after analyzing current broadband access network architectures and the status of QoS support, we propose a practical approach to support multimedia QoS in the broadband access networks. The approach will be based on the integration of the differentiated pricing and the DiffServ technology. And it will be a step-wise approach to support backward compatibility with the legacy broadband access networks as much as possible.

A Study on Oil Price Risk Affecting the Korean Stock Market (한국주식시장에 파급되는 국제유가의 위험에 관한 연구)

  • Seo, Ji-Yong
    • The Korean Journal of Financial Management
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    • v.24 no.4
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    • pp.75-106
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    • 2007
  • In this study, it is analyzed whether oil price plays a major role in the pricing return on Koran stock market and examined why the covariance risk between oil and return on stock is different in each industry. Firstly, this study explores whether the expected rate of return on stock is pricing due to global oil price factors as a function of risk premium by using a two-factor APT. Also, it is examined whether spill-over effects of oil price volatility affect the beta risk to oil price. Considering the asymmetry of oil price volatility, we use the GJR model. As a result, it shows that oil price is an independent pricing factor and oil price volatility transmits to stock return in only electricity and electrical equipment. Secondly, the two step-analyzing process is introduced to find why the covariance between oil price factor and stock return is different in each industry. The first step is to study whether beta risk exists in each industry by using two proxy variables like size and liquidity as control variables. The second step is to grasp the systematic relationship between the difference of liquidity and size and beta to oil price factor by using the panel-data model which can be analyzed efficiently using the cross-sectional data formed with time series. Through the analysis, we can argue that oil price factor is an independent pricing factor in only electricity and electrical equipment having the greatest market capitalization, and know that beta risk to oil price factor is a proxy of size in the other industries. According to the result of panel-data model, it is argued that the beta to oil price factor augments when market capitalization increases and this fact supports the first assertion. In conclusion, the expected rate of return of electricity and electrical equipment works as a function of risk premium to market portfolio and oil price, and the reason to make beta risk power differentiated in each industry attributes to the size.

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The Effect of Price Discount Rate According to Brand Loyalty on Consumer's Acquisition Value and Transaction Value (브랜드애호도에 따른 가격할인율의 차이가 소비자의 획득가치와 거래가치에 미치는 영향)

  • Kim, Young-Ei;Kim, Jae-Yeong;Shin, Chang-Nag
    • Journal of Global Academy of Marketing Science
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    • v.17 no.4
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    • pp.247-269
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    • 2007
  • In recent years, one of the major reasons for the fierce competition amongst firms is that they strive to increase their own market shares and customer acquisition rate in the same market with similar and apparently undifferentiated products in terms of quality and perceived benefit. Because of this change in recent marketing environment, the differentiated after-sales service and diversified promotion strategies have become more important to gain competitive advantage. Price promotion is the favorite strategy that most retailers use to achieve short-term sales increase, induce consumer's brand switch, in troduce new product into market, and so forth. However, if marketers apply or copy an identical price promotion strategy without considering the characteristic differences in product and consumer preference, it will cause serious problems because discounted price itself could make people skeptical about product quality, and the changes of perceived value might appear differently depending on other factors such as consumer involvement or brand attitude. Previous studies showed that price promotion would certainly increase sales, and the discounted price compared to regular price would enhance the consumer's perceived values. On the other hand, discounted price itself could make people depreciate or skeptical about product quality, and reduce the consumers' positivity bias because consumers might be unsure whether the current price promotion is the retailer's best price offer. Moreover, we cannot say that discounted price absolutely enhances the consumer's perceived values regardless of product category and purchase situations. That is, the factors that affect consumers' value perceptions and buying behavior are so diverse in reality that the results of studies on the same dependent variable come out differently depending on what variable was used or how experiment conditions were designed. Majority of previous researches on the effect of price-comparison advertising have used consumers' buying behavior as dependent variable. In order to figure out consumers' buying behavior theoretically, analysis of value perceptions which influence buying intentions is needed. In addition, they did not combined the independent variables such as brand loyalty and price discount rate together. For this reason, this paper tried to examine the moderating effect of brand loyalty on relationship between the different levels of discounting rate and buyers' value perception. And we provided with theoretical and managerial implications that marketers need to consider such variables as product attributes, brand loyalty, and consumer involvement at the same time, and then establish a differentiated pricing strategy case by case in order to enhance consumer's perceived values properl. Three research concepts were used in our study and each concept based on past researches was defined. The perceived acquisition value in this study was defined as the perceived net gains associated with the products or services acquired. That is, the perceived acquisition value of the product will be positively influenced by the benefits buyers believe they are getting by acquiring and using the product, and negatively influenced by the money given up to acquire the product. And the perceived transaction value was defined as the perception of psychological satisfaction or pleasure obtained from taking advantage of the financial terms of the price deal. Lastly, the brand loyalty was defined as favorable attitude towards a purchased product. Thus, a consumer loyal to a brand has an emotional attachment to the brand or firm. Repeat purchasers continue to buy the same brand even though they do not have an emotional attachment to it. We assumed that if the degree of brand loyalty is high, the perceived acquisition value and the perceived transaction value will increase when higher discount rate is provided. But we found that there are no significant differences in values between two different discount rates as a result of empirical analysis. It means that price reduction did not affect consumer's brand choice significantly because the perceived sacrifice decreased only a little, and customers are satisfied with product's benefits when brand loyalty is high. From the result, we confirmed that consumers with high degree of brand loyalty to a specific product are less sensitive to price change. Thus, using price promotion strategy to merely expect sale increase is not recommendable. Instead of discounting price, marketers need to strengthen consumers' brand loyalty and maintain the skimming strategy. On the contrary, when the degree of brand loyalty is low, the perceived acquisition value and the perceived transaction value decreased significantly when higher discount rate is provided. Generally brands that are considered inferior might be able to draw attention away from the quality of the product by making consumers focus more on the sacrifice component of price. But considering the fact that consumers with low degree of brand loyalty are known to be unsatisfied with product's benefits and have relatively negative brand attitude, bigger price reduction offered in experiment condition of this paper made consumers depreciate product's quality and benefit more and more, and consumer's psychological perceived sacrifice increased while perceived values decreased accordingly. We infer that, in the case of inferior brand, a drastic price-cut or frequent price promotion may increase consumers' uncertainty about overall components of product. Therefore, it appears that reinforcing the augmented product such as after-sale service, delivery and giving credit which is one of the levels consisting of product would be more effective in reality. This will be better rather than competing with product that holds high brand loyalty by reducing sale price. Although this study tried to examine the moderating effect of brand loyalty on relationship between the different levels of discounting rate and buyers' value perception, there are several limitations. This study was conducted in controlled conditions where the high involvement product and two different levels of discount rate were applied. Given the presence of low involvement product, when both pieces of information are available, it is likely that the results we have reported here may have been different. Thus, this research results explain only the specific situation. Second, the sample selected in this study was university students in their twenties, so we cannot say that the results are firmly effective to all generations. Future research that manipulates the level of discount along with the consumer involvement might lead to a more robust understanding of the effects various discount rate. And, we used a cellular phone as a product stimulus, so it would be very interesting to analyze the result when the product stimulus is an intangible product such as service. It could be also valuable to analyze whether the change of perceived value affects consumers' final buying behavior positively or negatively.

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