• Journal of the Korea Society of Computer and Information
• /
• v.28 no.12
• /
• pp.239-248
• /
• 2023

The purpose of this study is to analyze the factors for service contracts that affect the successful bid price rate, focusing on the case of the country market. In the study, ordering organizations and bidders differentiated themselves from existing studies by analyzing service contracts that affect the successful bid price rate in a wide range of country markets. Comparative analysis of the awarding price ratio for services, this work provides a comparable result to the existing results in the previous literature. The analytical model used five independent variables such as budget, contract method, the days of the public notice, the awarding method, and the lowest awarding ratio. In the survey and analysis, big data was collected using text mining for service bids for Nara Market over the past 18 years and data was analyzed in a multi-dimensional way. The results of the analysis are as follows, (1) if budget does not determine the awarding price ratio. This is not the case in small amounts. (2) The contract method affects the awarding price ratio. (3) The days of the public notice increase, the awarding price ratio decrease. (4) the awarding method affects the awarding price ratio. (5) The lowest awarding ratio determines the awarding price ratio. Based on the results of empirical analysis, policy implications were sought.

• Journal of Digital Convergence
• /
• v.19 no.11
• /
• pp.255-266
• /
• 2021

Investment demand for factory facilities has increased due to the balloon effect caused by housing price regulation. This study investigated the impact of the real estate market and macroeconomic factors on the bid price ratio of apartment auctions and factory auctions, focusing on the metropolitan area. To this end, we reviewed theories and previous studies on real estate auctions, and examined how macroeconomic variables affect bid price ratio of apartments and factories using the panel vector autoregressive model. It was found that the increase in the apartment bid price ratio increases as the participation in apartment auctions increases. However, as the factory bid price ratio increases, the factory bid price ratio does not increase, it was confirmed that the positive (+) relationship between the successful bid price ratio and the bid price ratioe does not exist, unlike previous studies. Based on the analysis results, it is suggested that the real estate market and macroeconomic factors should be considered for the stable operation of the related relevant auction system. This study has limitations in that it is limited to the metropolitan area. In the future, research that expands the scope of research to the whole country and provinces should be conducted.

• KSCE Journal of Civil and Environmental Engineering Research
• /
• v.31 no.5D
• /
• pp.719-726
• /
• 2011

The government intensifies screening criteria for the guarantee of reasonable bidding price and the prevention of low bidding price, however, the low tender rate still becomes an issue. This study analyzed the problems of screening criteria for the guarantee of reasonable bidding price, and then derived some major issues such as the restriction of decisive factors for initial construction cost, the rate of activities over five percent of surveyed price and the restrictive review criteria of inadequate activities. To solve thess problems, this study suggests an improved process model for estimating optimal bidding rate that can select a contractor with the guarantee of reasonable bidding price.

• Journal of the Korean Data and Information Science Society
• /
• v.28 no.2
• /
• pp.371-381
• /
• 2017

There has never been research on Chaos analysis using real estate auction sale price rate in Korea. In this study, three Chaos analysis methodologies - Hurst exponent, correlation dimension, and maximum Lyapunov exponent - in order to capture the nonlinear deterministic dynamic system characteristics. High level of Hurst exponent and the extremely low maximum Lyapunov exponent provide the tendency and the persistence of the data. The empirical results give two meaningful facts. First, monthly time lags of the correlation dimension are coincident with the time period from the approval auction start day to the sale price fixing day. Second, its weekly time lags correspond to the time period from the last day of request for sale price allocation to the sale price fixing day. Then, this study potentially examines the predictability of the real estate auction price rate time series.

• The Journal of the Korea institute of electronic communication sciences
• /
• v.9 no.3
• /
• pp.377-386
• /
• 2014

This study analyzed how alternative investment goods would affect a market in a neighboring shopping area in order to provide parties involved in the investment market of this neighboring shopping area with standards which would help them when they try to make a reasonable determination. The study estimated forms and explanation power of the effects of a bid rate of a neighboring shopping area, and came up with those results as follows. Increases in the representative macro economic indicators, the composite stock price index and the fluctuation rate of land price, including the real estate business would have a positive influence on the market of the neighboring shopping area as playing a circumstantial evidence of market recovery and yet, the increase in interest rate, the alternative investment goods, would reduce the relative price-earnings ratio which would, eventually, negatively affect the charm of the investment in the market of the neighboring shopping area. The study, now, understands that housing with a feature of consumers' goods and neighboring shopping area with a feature of investment goods would not have great concern with each other as they are observed to be two different markets from an aspect of interactionism.

• The Journal of the Korea Contents Association
• /
• v.19 no.12
• /
• pp.535-545
• /
• 2019

If the real estate auction market indicators are relevant and meaningful, they can be meaningful information to the real estate market in connection with general real estate. The purpose of this study is to examine whether time-supply logic is applied in auction market by identifying time series correlations for the number of auctions, the auction rate, and the auction price rate, which are major indicators of real estate auction market. The real estate types were classified into three categories: residential real estate, land, and commercial real estate. The monthly time series of auctions in the metropolitan real estate were compiled for 96 months. Based on this data, the auction market model for each type was established and the mutual influences between the indicators were analyzed. As a result, the supply and demand indicators, the number of auctions and the auction rate, showed the nature of supply and demand according to the supply and demand logic of the market. However, the correlation was high for residential real estate and relatively low for commercial real estate. the auction rate has a long-term impact on price indicators, especially residential real estate, which is quantitatively explanatory and significant. The three auction-related indicators differ in degree, but there is a correlation, especially for residential real estate, which can be useful information for policy making.

• Journal of Digital Contents Society
• /
• v.16 no.5
• /
• pp.767-773
• /
• 2015

This study suggests a reliable auction right analysis system that improves the existing auction right analysis in a sense that the system is more applicable to a real economic world. The existing study has used an auction successful bidding price rate and an auction successful contract price for its estimation of the auction right analysis. But in this paper the degree of market vitality which is provided from the commercial zone analysis is used as an input variable so the expected auction price can be estimated and the auction right analysis is conducted in that manner.

• KDI Journal of Economic Policy
• /
• v.36 no.3
• /
• pp.61-93
• /
• 2014

This paper analyzes Onbid car auction data by employing various methods, including structural estimation, to identify main factors which decides auction prices and figure out what effects those factors are making on the auction price. I then discuss on how to maximize sellers' revenue in OnBid car auctions. The government and public institutes sell their assets through the OnBid auction, hence the optimal design of the OnBid auction is important. The paper's main findings are as follows: (ⅰ) The independent private value model explains OnBid car auction data better than the correlated private value model or the interdependent value model; (ⅱ) Both the number of bidders and the ratios of the auction price to the evaluation value were lower in the auctions posted by the Kamco than auctions by institutes other than the Kamco; (ⅲ) Some auctions require that at least two bidders should submit a bid no less than the reserve price for sale. In those auctions, both the number of bidders and each bidder's valuation on the auctioned object were lower than in auctions without that requirement; (ⅳ) The sum of sellers' revenue would be decreased in the simulation with the reserve price higher by 5%, 10%, and 20% across auctions by institutes other than Kamco.

• Journal of the Korea Academia-Industrial cooperation Society
• /
• v.17 no.6
• /
• pp.566-576
• /
• 2016

It is known that the Real Estate Sales Market and Auction Market are closely interrelated with each other in a variety of respects and the media often mention the real estate auction market as a leading indicator of the real estate market. The purpose of this paper is to analyze the relationships between the housing market and auction market before and after macroeconomic fluctuations using VECM. The period from January 2002 to December 2008, which was before the financial crisis, was set as Model 1 and the period from January 2009 to November 2015, which was after the financial crisis, was set as Model 2. The results are as follows. First, the housing auction market is less sensitive to changes in the housing market than it is to fluctuations in the auction market. This means that changes in the auction market precede fluctuations in the housing market, which shows that the auction market as a trading market is activated. In this respect, public institutions need to realize the importance of the housing auction market and check trends in the housing contract price in the auction market. Also, investors need to ensure that they have expertise in the auction market.