• Environmental and Resource Economics Review
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• v.21 no.4
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• pp.981-998
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• 2012

In this paper, several count data model of travel cost recreation demand with Poisson and negative binominal specification are applied to estimate the value of access to the estuary area of Yeongsan river from visitor survey data. The results show that the negative binomial model that accounts for truncation and overdispersion provides the better goodness-of-fit, and therefore the value per visit(i.e. consumer surplus) is 89,350 won for resident of Jeolla province and 432,526 won for that of other provinces. If don't correct overdispersion by relying on Poisson estimates, the consumer surplus will be underestimated. Whereas the consumer surplus will be overestimated unless correct truncation by using estimates of untruncated models. As a result, the truncated negative binomial model should be applied to estimate the travel demand and the consumer surplus per visit by using survey data from single site visitors.

• The Korean Journal of Financial Management
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• v.22 no.2
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• pp.165-187
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• 2005

This paper tries to investigate the relationships among stock return volatility, time-varying risk premium and Korea Discount. Using Korean Composite Stock Price Index (KOSPI) return from January 4, 1980 to August 31, 2005, this study finds possible links between time-varying risk premium and Korea Discount. First of all, this study classifies Korean stock returns during the sample period by three regime-switching volatility period that is to say, low-volatile period medium-volatile period and highly-volatile period by estimating Markov-Switching ARCH model. During the highly volatile period of Korean stock return (09/01/1997-05/31/2001), the estimated time-varying unit risk premium from the jump-diffusion GARCH model was 0.3625, where as during the low volatile period (01/04/1980-l1/30/1985), the time-varying unit risk premium was estimated 0.0284 from the jump diffusion GARCH model, which was about thirteen times less than that. This study seems to find the evidence that highly volatile Korean stock market may induce large time-varying risk premium from the investors and this may lead to Korea discount.

• Journal of Industrial Convergence
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• v.22 no.8
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• pp.1-17
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• 2024

Recently, interest in edutech has been focused on its fusion with AI technology, and the market in this field is expanding. This study aims to analyze the technological competitiveness and key technological areas of major countries in the AI-edutech field. Additionally, considering that AI-edutech is a convergence of AI technology and edutech, the study seeks to examine the path dependence of AI-edutech in each country to determine whether they are based on existing AI technologies or edutech. To this end, AI-edutech patents were collected and competitiveness was analyzed using patent activity, patent impact, and market acquisition indicators. Path dependence for each country was analyzed using the hurdle negative binomial regression model. The analysis results indicate that the major countries in the AI-edutech field are China, South Korea, the United States, India, and Japan. In terms of patent activity, China had the highest level, followed by South Korea. In terms of patent impact and market securing power, the United States was high in both aspects, Japan had high market securing power, and South Korea had high patent influence. The results of the hurdle negative binomial analysis presented unique findings. The logit part results indicated that the possession of existing AI and edutech did not positively affect the emergence of current AI-edutech, but the count part results showed a positive influence. This suggests that, overall, it is difficult to assert that current AI-edutechs are based on past AI and edutechs. However, once some AI-edutechs based on existing AI and edutechs emerge, they are influenced by the existing technologies. These findings provide implications for future research and technological strategies in this field.