• Journal of Navigation and Port Research
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• v.44 no.4
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• pp.326-337
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• 2020

Shipping companies have suffered additional losses because of irrational shipping finance decisions. This paper analyses the cases according to the behavioral finance theories. The theories of behavioral finance used in the analysis and research of this paper are the anchoring effect and sunk cost effect. The backgrounds and reasons for the decisions regarding ship financing are analysed based on the questionnaire responses and case studies. As a result of the analysis, it is found that the behavioral finance theories, anchoring effect, and sunk cost effect, have effects on the ship financing decisions, that errors related to behavioral finance can result in irrational decisions, and that shipping companies suffered additional losses because of the behavioral finance errors.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.36 no.10B
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• pp.1192-1199
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• 2011

The purpose of this paper is to test empirically whether the sunk cost fallacy occurres or not under the two-part tarriff and to give the desirable rate-making for minimizing sunk cost fallacy. According to the results of analysis highly paid monthly fee makes more traffics over the level of optimal consumption because of sunk cost fallacy. Therefore monthly fee reduction will cause the optimal consumption that is near the solution of their own utility function.

• Journal of Digital Convergence
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• v.19 no.3
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• pp.65-79
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• 2021

The purpose of this study was to research how emotional factors affect decision-making on the maintenance and abandonment of a patent, and to present new criteria for patent policies. The types of Korean patent abandonment were analyzed according to the patent holding period, and a questionnaire survey was carried out to verify whether there are differences among patentees in terms of sunk cost bias, endowment effect, and coupling or not. Individuals and small and medium-sized enterprises showed relatively greater emotional bias toward sunk cost and endowment effect than large companies, and the sunk cost effect decreased as decision-making experience increased. In addition, the reduction in the payment cycle of the patent renewal fee has a positive effect on the increase in the willingness to use the patent right, and the individuals and small and medium-sized enterprises has a greater synergistic effect than the case of large companies, in particular. This study are expected to play a part in establishing policies to minimize wasteful factors of patent assets based on the propensity of the patentees.

• Journal of Advanced Navigation Technology
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• v.16 no.6
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• pp.1065-1079
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• 2012

This research is done with the objectives to examine and to identify how the main factors of airline services, which become fundamentals for airline customers to select their favorite one, affect their customer satisfaction and their customer preference, with a focus on adjustable influence of converting cost. The survey has been conducted with the population of the airline customers who use international airlines through Incheon International Airport and processed with the objectives to verify the influence of the main factors of airline services to customer satisfaction and customer preference and also to collect the verified data for adjustable influence of converting cost between customer satisfaction and customer preference, and its results are as follows: Firstly, airline services have significant impact on their customer satisfaction. Secondly, they also have significant impact on their customer preference, Thirdly, the converting cost between both of customer satisfaction and customer preference to airline services doesn't involve the adjustable function in consecutive cost nor in learning cost but it does involve the one in sunk cost.

• Journal of Korean Society of Transportation
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• v.32 no.4
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• pp.389-400
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• 2014

This study finds a way to increase the usability of a subway commuter pass. Usability of the commuter pass on a probabilistic statistical model is calculated when the pass is allowed to used in a different mode(bus). A sunk cost of commuter pass is used to reduce the vehicle travels from public transit. 324 people aged 25 to 35 were surveyed and utilized to build a Nested Logit Model on STRADA 3.5 platform. Main results are as follows. First, commuter passes were issued in various forms. Second, the model turns out to be statistically significant in four explanatory variables (discount rate, inter-usablity between modes, forms of payment and periods). Lastly, the more valid on different modes, the more increased of the rail commuter pass.

• Proceedings of the Korea Water Resources Association Conference
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• 2020.06a
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• pp.294-294
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• 2020

연안표사는 해안의 정선이 후퇴해 침식이 심각해지는 한편, 항만·어항에서는 토사가 퇴적되어 선박이나 어선의 항로나 정박지 매몰로 선박의 항행 및 어업 활동에 지장을 초래하며 하천 하구부에서는 하구 폐쇄로 치수상의 문제점 등이 발생한다. 항만과 어항 관리자는 항로나 정박지의 매몰 대책에 대한 검토와 해안 관리자는 해안 보전 대책에 초점을 맞춰 제각기 목적을 위한 대책 검토를 수행하고 있다. 이처럼 매년 적지 않은 비용이 소요됨에도 불구하고 뚜렷하고 효과적인 대책 없이 연안에 인위적인 변화를 발생시켜 어디에선 모래가 퇴적되고 그 영향에 따라 또 다른 곳에서는 침식되는 악순환이 반복되고 있다. 연안침식 방지를 위한 대책을 구축하기 위해서는 어느 한 곳에 중점적인 대책이 아닌 표사계 전체의 관점에서 상호 간의 간섭 효과를 고려한 통합적인 관점으로부터 대책을 강구해야 할 것이다. 연안지역에서의 표사수지는 산지, 댐, 하천, 해안 등 각각의 영역으로부터 유입 및 유출에 따라 안정된 해안이 조성된다. 하지만 환경적 및 인위적 변화에 따라 안정된 표사수지는 파괴되며 이 영향에 따라 표사의 이동이 발생한다. 지금까지의 토사관리는 각각의 영역에서 재해저감 및 토사관리를 위한 여러 대책의 효과가 나타나고 있으나 통합적인 토사관리에 있어 상호간의 피드백이 단절되어 연안역에서 발생하는 침식에 대한 정확한 원인 규명에 많은 어려움과 문제점이 발생하고 있다. 이처럼 통합적인 연안침식 관리를 위해서는 연안역으로 유입되는 토사의 이동 메커니즘 규명이 매우 중요하며 이를 바탕으로 정확한 유사량 산정을 통해 적절한 대책을 마련할 수 있다. 또한, 지역적 특징이 강한 우리나라에서는 통합적인 연안관리를 위한 구체적인 방안 검토가 이루어지고 있지 않지만, 일본에서는 지속적인 관측과 모니터링 조사를 통해 체계적인 관리를 수행하고 있다. 따라서 본 연구에서는 일본에서 진행 중인 통합적인 토사관리 가이드라인에 따른 토사관리의 구체적인 방법과 그에 따른 정선변화 및 표수사지 체계를 산정하였다.

• Journal of the Korean Operations Research and Management Science Society
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• v.38 no.1
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• pp.103-121
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• 2013

Since American Airlines's mileage program emerged in market, loyalty programs have gained popularity. Many companies have generated many kinds of reward cards in order to induce precious consumers. As a result, reward cards are very important in consumer goods market and become diversified. In spite of its importance, little is known about how these cards influence consumer's perception. The prior research has not focused on reward card types and psychological variables. Accordingly this research intends to investigate psychological variables such as transaction coupling and sunk cost perception. According to the theory of regulatory focus, promotion focus consumers would point to gain-nongain frame work, but prevention focus consumers would point to loss-nonloss frame work. The paper proved the effect of reward card types and regulatory focus on transaction coupling and sunk cost perception. Based on the results from 2(type of card : visible vs invisible) ${\times}$ 2(regulatory focus: promotion vs prevention) between-subjects factorial design experiments, we found that consumer's transaction coupling and sunk cost perception of visible reward card are better recognized than invisible reward card. In addition, the results show that there is a significant interaction effect between the type of reward card and regulatory focus. Specifically promotion focused consumers tend to reveal better perception than prevention focused consumers in use of invisible cards. However, prevention focused consumers tend to show better perception than promotion focused consumers in use of visible cards. These findings will contribute to significant academic development and practically useful help to marketing managers.