• Journal of Korea Technology Innovation Society
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• v.13 no.3
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• pp.513-537
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• 2010

According to the "FDI-as-market-discipline" hypothesis, inward FDI acts as a mechanism of change in market structure affecting innovative activities of domestic firms. We used panel KIS data for testing this hypothesis. Binary probit estimation shows that, in contrast to the German case of Bertschek (1995), FDI is insignificant in Korean case for explaining product innovation. 1his result maybe comes from the fact that the industries in Korea are more monopolistic or oligopolistic than those of Germany. Using panel data, we tried random parameter estimation using matrix weighted average of GLS and OLS. The result shows different estimates from cross-section outcome and panel estimation with parameter homogeneity, so we can infer large parameter heterogeneity across firms. But, interpretation for FDI variable is similar across panel and cross-section estimation.

• Journal of the Korean Data and Information Science Society
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• v.27 no.3
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• pp.653-661
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• 2016

In this paper, we provide a suitable optimal exponent in the generalized Pythagorean theorem and propose to use the logistic model & the probit model to estimate the winning rate in Korean professional baseball league. Under a criterion of root-mean-square-error (RMSE), the efficiencies of the proposed models have been compared with those of the Pythagorean theorem. We use the team historic win-loss records of Korean professional baseball league from 1982 to the first half of 2015, and the proposed methods show slight outperformances over the generalized Pythagorean method under the criterion of RMSE.

• The Korean Journal of Applied Statistics
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• v.36 no.2
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• pp.115-127
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• 2023

Multinomial probit model is a popular model for multiclass classification and choice model. Markov chain Monte Carlo (MCMC) method is widely used for estimating multinomial probit model, but its computational cost is high. However, it is well known that variational Bayesian approximation is more computationally efficient than MCMC, because it uses subsets of samples. In this study, we describe multinomial probit model with Gaussian process classification and how to employ variational Bayesian approximation on the model. This study also compares the results of variational Bayesian multinomial probit model to the results of naive Bayes, K-nearest neighbors and support vector machine for the UCI mice protein expression level data.

• The Journal of the Korea Contents Association
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• v.10 no.5
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• pp.210-219
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• 2010

Consumers differ in both horizontally and vertically. Market segmentation aims to divide horizontally different (or heterogeneous) consumers into more similar (or homogeneous) small segments. A specific consumer, however, may differ in vertically. He (or she) may belong to a different market segment from another one where he (or she) belonged to before. In consumer panel data, the vertical difference can be observed by his (or her) choice among brand alternatives are changing over time. The consumer's vertical difference has been defined as 'dynamics'. In this research, we have developed a binary probit model with random-walk coefficients to capture the consumer's dynamics. With an application to a consumer panel data, we have examined how have the random-walk coefficients changed over time.

• International Area Studies Review
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• v.16 no.3
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• pp.53-73
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• 2012

In this study we investigate the ability of the yield spread to predict economic recessions in two Asian economies. For our purpose we use the data from two emerging economies (South Korea and Thailand) that are also known for their openness in terms of exports and imports. We employ both two-regime Markov-Switching model (MS) and three-regime MS model to estimate the probability of recessions during Asian crisis. We found that the yield spread is confirmed to be a reliable recession predictor for Thailand but not for South Korea. The three-regime MS model is better for capturing the Asian financial crisis than two-regime MS model. We also tried to find the duration of economic expansions and recessions. We tested the hypothesis of asymmetric movements of business cycles. The MS results are also compared with that of the standard probit model for comparison. The MS model does not significantly improve the forecasting ability of the yield spread in forecasting business cycles.

• Journal of the Korean Institute of Landscape Architecture
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• v.38 no.2
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• pp.25-36
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• 2010

The generally known important functions of forests include air purification and the health benefits that humans can receive when relaxing and enjoying recreation in the forests. In recent years, people have appreciated the value of the natural environment but it is not easy to answer the question how much monetary value a natural environment has. Because environmental property is public property, which is not traded on the market, market prices cannot be established, so it is not easy to assess the currency value. Methods for estimating environmental property value have been studied by economists. The representative method for measuring environmental property value is a contingent valuation method, or CVM. Various methods have been researched and attempted along with the development and fusion of mathematics, statistics, and economics. Representative methods of CVM are single-bound and double-bound logit and probit methods. This study has been carried out to compare four estimates. Estimates are as follows: the lowest estimate is derived from a single-bound logit WTPmedian while the highest estimate is from double-bound probit WTPmean. While there are some preceding studies on price estimation and methods of measurement through CVM, they offer only partial comparisons. This study suggests four analytic methods and prices through 1,123 questionnaires. The results can be used for the subsequent comparison of estimate prices and the methods of measurement

• Journal of Environmental Policy
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• v.6 no.1
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• pp.83-109
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• 2007

This study evaluates citizen's willingness-to-pay for the benefits from improved water quality of the Taehwa river in Ulsan, Korea, using a contingent valuation method with double-bounded dichotomous choice. The estimation results of the bivariate probit model shows the amounts of willingness-to-pay are monthly 3,458.5 Korean Won per household and yearly 14,760 million Korean Won for total households in Ulsan, Korea. These estimates are equivalent to the social values of improved water quality of the Taehwa river. This study also tests the inter-dependence between two answers, which may occur in the responses of the questions for the double-bounded dichotomous choice, and all the null hypotheses on the inter-dependence are rejected in this study.

• Journal of Digital Convergence
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• v.18 no.10
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• pp.195-206
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• 2020

This study aims to analyze the effect of consumer characteristics such as consumer innovativeness on using popular social media in Korea. Social media usage is estimated by probit and multinomial probit model with user characteristics using Korea media panel data of 2019. According to the analysis, users with hedonoc innovativeness are likely to use social media, while users with cognitive innovativeness are not likely to use it. Regarding individual social media usage, functional innovativeness increases the probability of using Kakaostory, and hedonic innovativeness increases the likelihood of using Instagram. However, cognitive innovativeness decreases the probability of using Kakaosotry and Naver Band. This study gives insights into finding out specific social media for marketing certain products with innovativeness. In future research, it may be worthwhile to analyze under the assumption that a social media user is using several social media simultaneously.

• Journal of Korean Society of Transportation
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• v.27 no.4
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• pp.127-135
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• 2009

Most traffic information that drivers receive while driving are stored in their short-term memory and disappear within a few seconds. Contemporary modeling approaches using a dummy variable can't fully explain this phenomenon. As such, this study proposes to use utility functions of real-time in-vehicle traffic safety information (IVTSI), analyzing its safety impacts based on empirical data from an on-site driving experiment at signalized intersection approach with a limited visibility. For this, a driving stability evaluation model is developed based on driver's driving speed choice, applying an ordered probit model. To estimate the specified utility functions, the model simultaneously accounts for various factors, such as traffic operation, geometry, road environment, and driver's characteristics. The results show three significant facts. First, a normal density function (exponential function) is appropriate to explain the utility of IVTSI proposed under study over time. Second, the IVTSI remains in driver's short-term memory for up to nearly 22 second after provision, decreasing over time. Three, IVTSI provision appears more important than the geometry factor but less than the traffic operation factor.

• Journal of Labour Economics
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• v.27 no.2
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• pp.91-115
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• 2004

Based on household characteristics, this study analyzes the sources of changes in income class. Using KLI panel data in 1998 and 2001, household equivalent income is calculated and households whose income class is changed are identified. Various household characteristics are examined to understand which characteristics are influential in income class changes. Empirical estimations are carried out by employing an ordered probit model. Region of residence, age of household head, education level of the head, the number of employed family members in 1998, and a change in the number of employed family members are shown to be statistically significant. Calculation of marginal probability based on the ordered probit estimation results show that the probability of upward movement in income class decreases as a household lives in rural areas, while the probability of upward movement increases as the household's head is better educated, the number of employed family members are higher and there is a higher increase in the number of employed family members. Age of the head has mixed results; while the probability of upward movement in income class decreases as the head gets older for the households in middle and high income classes, that probability increases as the head is in the range of the 40s and the 50s in low income class households.