• The Korean Journal of Financial Management
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• v.24 no.3
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• pp.29-62
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• 2007

We examine the methods to increase MBS values given parameters of default risks of individual mortgages and their correlation, and analyze the effects of these parameters on the efficiency of the methods. First, the values of MBS can be improved when they are comprised of low-correlation mortgages regardless of specific forms of investors' utility functions. Second, the values of MBS can also be raised even after their components mortgages are determined. More specifically, when investors' utilities are heterogeneous, CMO's of a less risky tranche and a riskier tranche are highly valued compared with pass-through securities of two identical tranches. When investors' utilities are homogeneous(risk averse), however, the latter meets the needs of investors better than the former does. Third, it can be shown that the efficiency of the methods in this paper is an increasing function of default risks of mortgage loans or of the correlation between them, and a decreasing function of the amount of the price fall of MBS when in default.

• Journal of Korean Society of Transportation
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• v.29 no.1
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• pp.71-79
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• 2011

Traditionally, a dynamic network model is considered as a tool for solving real-time traffic problems. One of useful and practical ways of using such models is to use it to produce and disseminate forecast travel time information so that the travelers can switch their routes from congested to less-congested or uncongested, which can enhance the performance of the network. This approach seems to be promising when the traffic congestion is severe, especially when sudden incidents happen. A consideration that should be given in implementing this method is that travel time information may affect the future traffic condition itself, creating undesirable side effects such as the over-reaction problem. Furthermore incorrect forecast travel time can make the information unreliable. In this paper, a network-wide travel time prediction model under incidents is developed. The model assumes that all drivers have access to detailed traffic information through personalized in-vehicle devices such as car navigation systems. Drivers are assumed to make their own travel choice based on the travel time information provided. A route-based stochastic variational inequality is formulated, which is used as a basic model for the travel time prediction. A diversion function is introduced to account for the motorists' willingness to divert. An inverse function of the diversion curve is derived to develop a variational inequality formulation for the travel time prediction model. Computational results illustrate the characteristics of the proposed model.

• Journal of Environmental Impact Assessment
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• v.27 no.3
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• pp.291-306
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• 2018

This study was designed to predict potential habitat of Japanese evergreen oak (Quercus acuta Thunb.) in Korean Peninsula considering its dispersal ability under climate change. We used a species distribution model (SDM) based on the current species distribution and climatic variables. To reduce the uncertainty of the SDM, we applied nine single-model algorithms and the pre-evaluation weighted ensemble method. Two representative concentration pathways (RCP 4.5 and 8.5) were used to simulate the distribution of Japanese evergreen oak in 2050 and 2070. The final future potential habitat was determined by considering whether it will be dispersed from the current habitat. The dispersal ability was determined using the Migclim by applying three coefficient values (${\theta}=-0.005$, ${\theta}=-0.001$ and ${\theta}=-0.0005$) to the dispersal-limited function and unlimited case. All the projections revealed potential habitat of Japanese evergreen oak will be increased in Korean Peninsula except the RCP 4.5 in 2050. However, the future potential habitat of Japanese evergreen oak was found to be limited considering the dispersal ability of this species. Therefore, estimation of dispersal ability is required to understand the effect of climate change and habitat distribution of the species.

• Nuclear Engineering and Technology
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• v.25 no.4
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• pp.529-538
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• 1993

A stochastic way using continuous time Markov process is presented to model the one-dimensional nuclide transport in fractured rock matrix as an extended study for previous work ［1］. A nuclide migration model by the continuous time Markov process for single planar fractured rock matrix, which is considered as a transient system where a process by which the nuclide is diffused into the rock matrix from the fracture may be no more time homogeneous, is compared with a conventional deterministic analytical solution. The primary desired quantities from a stochastic model are the expected values and variance of the state variables as a function of time. The time-dependent probability distributions of nuclides are presented for each discretized compartment of the medium given intensities of transition. Since this model is discrete in medium space, parameters which affect nuclide transport could be easily incorporated for such heterogeneous media as the fractured rock matrix and the layered porous media. Even though the model developed in this study was shown to be sensitive to the number of discretized compartment showing numerical dispersion as the number of compartments are decreased, with small compensating of dispersion coefficient, the model agrees well to analytical solution.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.29 no.1A
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• pp.45-52
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• 2009

In conventional structural design, deterministic optimization which satisfies codified constraints is performed to ensure safety and maximize economical efficiency. However, uncertainties are inevitable due to the stochastic nature of structural materials and applied loads. Thus, deterministic optimization without considering these uncertainties could lead to unreliable design. Recently, there has been much research in reliability-based design optimization (RBDO) taking into consideration both the reliability and optimization. RBDO involves the evaluation of probabilistic constraint that can be estimated using the RIA (Reliability Index Approach) and the PMA(Performance Measure Approach). It is generally known that PMA is more stable and efficient than RIA. Despite the significant advancement in PMA, RBDO still requires large computation time for large-scale applications. In this paper, A new reliability-based design optimization (RBDO) method is presented to achieve the more stable and efficient algorithm. The idea of the new method is to integrate a response surface method (RSM) with PMA. For the approximation of a limit state equation, the moving least squares (MLS) method is used. Through a mathematical example and ten-bar truss problem, the proposed method shows better convergence and efficiency than other approaches.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.2 no.4
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• pp.71-102
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• 2007

There were many comprehensive analyses conducted within the existing research activities wherein factors affecting technology progress including investment in R&D vis-${\Box}$-vis their influences act as the determinants of TFP. Note, however, that there were few comprehensive analysis in the industrial research performed regarding the impact of the economy of scale as it affects TFP; most of these research studies dealt with the analysis of the non -parametric Malmquist productivity index or used the stochastic frontier production function models. No comprehensive analysis on the impacts of individual independent variables affecting TFP was performed. Therefore, this study obtained the TFP increase rate of each industry by analyzing the factors of the existing growth accounting equation and comprehensively analyzed the TFP determinants by constructing a comprehensive analysis model considering the investment in R&D and economy of scale (smallness by industry) as the influencers of TFP by industry. First, for the TFP increase rate of the 15 industries as a whole, the annual average increase rate for 1993${\sim}$ 1997 was approximately 3.8% only; during 1999${\sim}$ 2000 following the foreign exchange crisis, however, the annual increase rate rose to approximately 7.8%. By industry, the annual average increase rate of TFP between 1993 and 2000 stood at 11.6%, the highest in the electrical and electronic equipment manufacturing business and IT manufacturing sector. In contrast, a -0.4% increase rate was recorded in the furniture and other product manufacturing sectors. In the case of the service industry, the TFP increase rate was 7.3% in the transportation, warehousing, and communication sectors. This is much higher than the 2.9% posted in the electricity, water, and gas sectors and -3.7% recorded in the wholesale, food, and hotel businesses. The results of the comprehensive analysis conducted on the determinants of TFP showed that the correlations between R&D and TFP in general were positive (+) correlations whose significance has yet to be validated; in the model where the self-employed and unpaid family workers were used as proxy variables indicating the smallness of industry out of the total number of workers, however, significant negative (-) correlations were noted. On the other hand, the estimation factors of variables surrogating the smallness of scale in each industry showed that a consistently high "smallness of scale" in an industry means a decrease in the increase rate of TFP in the same industry.

• Journal of Intelligence and Information Systems
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• v.19 no.4
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• pp.55-79
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• 2013

In this paper, we propose a hybrid genetic algorithm (HGA) approach to effectively solve the reverse logistics network with centralized centers (RLNCC). For the proposed HGA approach, genetic algorithm (GA) is used as a main algorithm. For implementing GA, a new bit-string representation scheme using 0 and 1 values is suggested, which can easily make initial population of GA. As genetic operators, the elitist strategy in enlarged sampling space developed by Gen and Chang (1997), a new two-point crossover operator, and a new random mutation operator are used for selection, crossover and mutation, respectively. For hybrid concept of GA, an iterative hill climbing method (IHCM) developed by Michalewicz (1994) is inserted into HGA search loop. The IHCM is one of local search techniques and precisely explores the space converged by GA search. The RLNCC is composed of collection centers, remanufacturing centers, redistribution centers, and secondary markets in reverse logistics networks. Of the centers and secondary markets, only one collection center, remanufacturing center, redistribution center, and secondary market should be opened in reverse logistics networks. Some assumptions are considered for effectively implementing the RLNCC The RLNCC is represented by a mixed integer programming (MIP) model using indexes, parameters and decision variables. The objective function of the MIP model is to minimize the total cost which is consisted of transportation cost, fixed cost, and handling cost. The transportation cost is obtained by transporting the returned products between each centers and secondary markets. The fixed cost is calculated by opening or closing decision at each center and secondary markets. That is, if there are three collection centers (the opening costs of collection center 1 2, and 3 are 10.5, 12.1, 8.9, respectively), and the collection center 1 is opened and the remainders are all closed, then the fixed cost is 10.5. The handling cost means the cost of treating the products returned from customers at each center and secondary markets which are opened at each RLNCC stage. The RLNCC is solved by the proposed HGA approach. In numerical experiment, the proposed HGA and a conventional competing approach is compared with each other using various measures of performance. For the conventional competing approach, the GA approach by Yun (2013) is used. The GA approach has not any local search technique such as the IHCM proposed the HGA approach. As measures of performance, CPU time, optimal solution, and optimal setting are used. Two types of the RLNCC with different numbers of customers, collection centers, remanufacturing centers, redistribution centers and secondary markets are presented for comparing the performances of the HGA and GA approaches. The MIP models using the two types of the RLNCC are programmed by Visual Basic Version 6.0, and the computer implementing environment is the IBM compatible PC with 3.06Ghz CPU speed and 1GB RAM on Windows XP. The parameters used in the HGA and GA approaches are that the total number of generations is 10,000, population size 20, crossover rate 0.5, mutation rate 0.1, and the search range for the IHCM is 2.0. Total 20 iterations are made for eliminating the randomness of the searches of the HGA and GA approaches. With performance comparisons, network representations by opening/closing decision, and convergence processes using two types of the RLNCCs, the experimental result shows that the HGA has significantly better performance in terms of the optimal solution than the GA, though the GA is slightly quicker than the HGA in terms of the CPU time. Finally, it has been proved that the proposed HGA approach is more efficient than conventional GA approach in two types of the RLNCC since the former has a GA search process as well as a local search process for additional search scheme, while the latter has a GA search process alone. For a future study, much more large-sized RLNCCs will be tested for robustness of our approach.

• Tuberculosis and Respiratory Diseases
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• v.48 no.6
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• pp.837-852
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• 2000

Backgrounds : Today, tuberculosis cannot only be cured medically, but also controlled by public health. Despite the overall worldwide decline in tuberculosis, the disease continues to be a significant problem among developing countries and in the slums of large cities in some industrialized countries. Particularly, this communicable disease has come into the public health spotlight because of its resurgence in the 1990's. our country has been operating the Korean National Tuberculosis Control Program since 1962, focusing around public health centers. Therefore, this study aims to compare the effectiveness of tuberculosis control activities, one of the major public health activities in Korea, by producing indexes, such as the yearly registration rate per 100,000 population and treatment compliance of tuberculosis on in small areas (communities). Methods : This work was accomplished by constructing a time-series analytic model using data from "1980~2000: the Yearly Statistical Report" with patient registry data of 234 City. County. District public health centers and by identifying the factors influencing the tuberculosis indexes. Results : The trends of pulmonary tuberculosis positive point prevalence and pulmonary tuberculosis negative point prevalence on X-ray screening have declined steadily, beginning in 1981 and continuing to 1998 by region (city, county, district). Although the tuberculosis mortality rate steadily shows a declining trend by year and region, but Korea still ranks first among 29 OECD countries in 1998, with a tuberculosis mortality rate of 7.1 per 100,000 persons, according to the time-series analysis for fatal diseases. Conclusion : The results of the study will form the fundamental basis of future regional health care planning and the Korean Tuberculosis Surveillance System on 2000. Since the implementation of local autonomy through the Local Health Act of 1995, it has now become vita1 for each city, county, district public health centers to determine its own priorities for relevant health care management, including budget allocation and program goals.