• Journal of Platform Technology
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• v.6 no.2
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• pp.10-18
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• 2018

The purpose of this study was to empirically analyze relations between color changes in the product specification and demand changes with price elasticity in the Chinese mobile phone market. In previous studies on price elasticity, the usual analysis units were product categories or SBU within a given product category. Unlike them, the this study set an analysis unit of price elasticity to focus on colors, which are investigated in the research fields of experiential marketing, aesthetic marketing, and cognitive psychology. Actual sales data according to the mobile phone price changes by the color were based on the sales volume of a sales agency at China's largest B2C site. The findings were as follows: first, price elasticity according to the six colors was higher than the absolute value of 1, which means that demands made flexible reactions to price changes. Secondly, there were differences in price elasticity according to the colors. Aroma white color made the smallest increase in sales volume at the same price discount, whereas diamond color made the biggest increase in sales in the same price discount scope. These findings indicate that more profit can be generated in mobile phone sales in China by setting different price discount or increase rates according to colors or producing different amounts of mobile phones according to colors. Distributors or sales agents can have a chance for higher profit by ordering and selling mobile phones in certain colors than others from mobile phone manufacturers. The academic findings indicates that there are differences in preference and price elasticity according to colors under the mobile phone category in the Chinese market, which means that the present study made an academic contribution by proposing a microscopic analysis unit for product price elasticity and expanding its concept.

• The Journal of Korean Medicine
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• v.17 no.2 s.32
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• pp.34-47
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• 1996

We have seen a sharp increase in the utilization rate of medical services since the launch of Nation Health Insurance system in 1989. However, the market share of oriental medicine in the Korean health sector has been gradually diminished mainly due to low insurance coverage and high price. Especially high price as an entry barrier to oriental medical services has played a major role in decreasing market share. This paper investigated the effects of price discount on the financial condition and market share of oriental medical institutions. Microeconomic theory and multiple regression analysis were used as a methodology in testing the alternative hypothesis: price discount of enveloped herb drug will result in increases in both the revenue and market share of oriental medical institutions. Data was collected from the statistical yearbook and sample survey. The price elasticity of demand for enveloped herb drug was estimated at 5.8 during 1987-1995 period, which means that a 1% decrease in price will bring about a 5.8% increase in the utilization of oriental medical services. The empirical result shows that a drastic price discount for the enveloped herb drug will eventually improve the financial status of the oriental medical institutions and enlarge the market share of oriental medicine in the Korean health care sector.

• Journal of Energy Engineering
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• v.11 no.2
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• pp.142-148
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• 2002

The variations of real time electric price in competitive electricity markets have influence on electric power demands of the consumers. Residential, commercial, and industrial consumers with different characteristics cause the different price elasticity of the demand due to changing the pattern of consumption. Therefore, this paper analyze the effects of spot pricing for the change of the electric power demand based on the demand elasticity of each loads in competitive electricity market.

• Journal of Energy Engineering
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• v.25 no.2
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• pp.37-44
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• 2016

The demand for electricity has a considerable impact on various energy sectors since electricity is generated from various energy sources. This paper attempts to estimate the electricity demand function and obtain some quantitative information on price and income elasticities of the demand. To this end, we apply a lagged dependent variable model to derive long-run as well as short-run elasticities using the time-series data over the period 1991-2014. Our dependent variable is annual electricity demand. The independent variables include constant term, real price of electricity, and real gross domestic product. The results show that the short-run price and income elasticities of the electricity demand are estimated to be -0.142 and 0.866, respectively. They are statistically significant at the 5% level. That is, the electricity demand is in-elastic with respect to price and income changes in the short-run. The long-run price and income elasticities of the electricity demand are calculated to be -0.210 and 1.287, respectively, which are also statistically meaningful at the 5% level. The electricity demand is still in-elastic with regard to price change in the long-run. However, the electricity demand is elastic regarding income change in the long-run. Therefore, this indicates that the effect of demand-side management policy through price-control is restrictive in both the short- and long-run. The growth in electricity demand following income growth is expected to be more remarkable in the long-run than in the short-run.

• Management & Information Systems Review
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• v.36 no.4
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• pp.81-102
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• 2017

This study examined the income and price elasticities of tourism demand model by using the ARDL models. This paper used the ARDL & ARDL-RECM model based on the annual number of tourists arrivals, GDP and CPI including tourists from the US, Japan and China entering Korea. First, the income elasticity of the US was inelastic and insensitive necessities for long-run US tourists in the ARDL model. China's income elasticity was elastically sensitive luxuries. Second, the US and China's own price elasticities were very elastic to tourism demand in both models. Third, the US's cross price elasticity showed the relationship between inelastic positive substitutes and inelastic negative complements in China in ARDL model. The cross price elasticities of the US and China showed inelastic positive substitutes in the ARDL-RECM model. Fourth, the coefficients of the error correction term were such that the actual sign and the expected sign of the US and China coincided with the negative sign in the ARDL-RECM model. Therefore, first, it can be established in a tourist policy or tourism strategy through income elasticity. Second, we can improve the quality and differentiation of products, recognizing that Korea's tourism price is more elastic than other markets through price elasticity.

• KDI Journal of Economic Policy
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• v.15 no.4
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• pp.143-154
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• 1993

본고의 목적은 재산세(財産稅)의 경제적(經濟的) 효과(效果)를 분석하는 데 있다. 특히 재산세(財産稅)가 주택가격(住宅價格)과 임대료(賃貸料)에 미치는 효과와 그 크기, 그리고 재산세(財産稅)의 귀착에 중점을 두었다. 재산세(財産稅)가 강화되면 (1)주택가격(住宅價格)은 하락하고, (2)임대료(賃貸料)는 상승하되 주택가격(住宅價格)이 변동하는 것과 시차를 두고서 이루어지고, 주택가격(住宅價格)과 임대료(賃貸料)의 변동폭 차이는 주택공급(住宅供給)과 주거수요(住居需要)의 가격탄력성(價格彈力性)의 차이에 좌우되며, (3)주택공급(住宅供給)의 가격탄력성(價格彈力性)이 더 비탄력적인 점을 감안할 때 주택가격(住宅價格)의 하락폭이 임대료의 상승폭보다 크고, (4)주택가격(住宅價格)의 하락폭은 실효재산세율이 사용자비용에서 차지하는 비중이 클수록 커지며, (5)현재의 낮은 실효재산세부담을 감안할 때 주택가격하락효과가 크지 않다는 것이 본고의 주요 결론이다. 재산세(財産稅)의 부담측면에서는 재산세가 강화되면 주택보유자(住宅保有者)가 그 부담을 일차적으로 지나, 임차자와 주택보유자 이외의 자본가도 역시 재산세(財産稅)의 부담을 나누어 진다. 임차자는 임대료 상승에 따른 부담을, 자본가는 자본이 주택부문에서 비주택부문으로 이동함에 따라 수익률이 전반적으로 하락하는 데 따르는 부담을 진다.

• Journal of Korean Society of Transportation
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• v.20 no.3
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• pp.93-103
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• 2002

우리 국민의 교통수요행태를 분석하기 위하여 준이상수요체계(almost ideal demand system) 함수형태의 집계교통수요모형을 설정하였다. 대중교통수단으로서 시내버스, 시외버스, 택시, 기차, 전철이 그리고 개인교통수단으로서 연료비가 포함되었으며, 기타재화 및 서비스에 대한 소비지출이 함께 추정되었다. 추정에 이용된 자료는 통계청의 "도시가계연보"에 수록된 '전국 도시가구 소비지출'과 "물가통계"에 수록된 '전국 도시소비자 물가'이다. 추정결과 모형의 설명력을 나타내는 수정결정계수(adjusted-$R^2$)는 대부분 0.9 내외에서 높게 나타났다. 추정계수는 총 51개중에서 25개가 5% 수준에서 유의한 것으로 나타났다. 추정된 계수값을 이용하여 가격탄력성과 소득탄력성을 구하였다. 자기가격탄력성과 소득탄력성 추정치는 조금 높기는 하나 부호와 상대적 크기가 모두 예상과 일치하고 다른 연구결과들과 유사한 범위에 있다. 연료비에 대한 소득탄력성은 1.72로 가장 높게 나타났고, 대중교통수단은 0.03~0.49 사이에서 나타나므로 교통수단이 정상재임을 의미한다. 보상수요의 교차가격탄력성은 총 15개의 교차관계에서 12개의 관계가 상식과 일치한다. 다음 연구에서는 더 많은 시계열자료를 발굴하여, 장기간의 교통수요 변화에 대한 분석을 시도할 필요가 있다. 또한 초월대수함수나 동태함수 등 다양한 형태의 수요함수를 시도할 필요가 있다. 여러가지 형태의 교통수요함수추정을 통해서 우리 현실에 적합한 교통수요모형을 발견할 수 있을 것이다. 대도시와 중소도시 등 지역별 지출자료를 발굴하여 지역특성을 반영하는 교통수요함수의 추정도 필요하다.

• Proceedings of the KIEE Conference
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• 2009.07a
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• pp.587_588
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• 2009

본 논문에서 전력 시스템 운영자의 trigger poin와 수요 반응 프로그램 참여자의 가격 탄력성에 따라 수요 반응 이후의 전기 가격을 예측하여 경제성 수요 반응 프로그램에 어떤 영향을 끼치는 지 살펴보고 운영자가 수요 반응 프로그램 반응 정보를 쉽게 파악할 수 있게 PR을 제안한다.

• Journal of Energy Engineering
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• v.22 no.1
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• pp.1-7
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• 2013

This paper attempts to estimate the residential electricity demand function, using survey data of 521 households in Korea. As the residential electricity demand function provides us information on the pattern of consumer's electricity consumption, it can be usefully utilized in predicting the impact of policy variables such as electricity price and forecasting electricity demands. We apply least absolute deviation(LAD) estimation as a robust approach to estimating parameters. The results showed that price and income elasticities are -0.68 and 0.14 respectively, and statistically significant at the 10% levels. The price and income elasticities portray that residential electricity is price- and income-inelastic. This implies that the residential electricity is indispensable goods to human-being's life, thus the residential electricity demand would not be promptly adjusted to responding to price and/or income change.

• Journal of Korean Society of Transportation
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• v.18 no.1
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• pp.27-34
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• 2000

This study analyzes the price elasticities of airline Passenger demand through the 'Stated Preference' technique which uses survey data. Because the domestic airfare has been regulated by the government. it is not easy to derive Price elasticity through the usual regression analysis with aggregate data and thus a special methodology is required for elasticity estimation. Therefore, in this study we estimated the Price elasticities of domestic air passenger demand and the modal share change rates to the alternative modes with logit model and sample enumeration method, by analyzing the survey data on air Passengers' demand behavior about the mode choice between air-rail. air-bus, and air-car. As the results, the estimated price elasticities are in the range of -0.6~-0.9, and rail is mainly chosen as an alternative mode. bus is chosen Partly, and car is barely used.