• Title/Summary/Keyword: Auction Market

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A Study on the Farming Decision-making Process of Onion and Garlic Farmers by the Perspective of Behavioral Economics (양파와 마늘 농가의 행동경제학적 영농 의사결정 과정에 관한 연구)

  • Lee, Su-Mi;Kim, Ho
    • Korean Journal of Organic Agriculture
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    • v.32 no.1
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    • pp.25-37
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    • 2024
  • This study is to apply behavioral economics-an economics that studies actual human behavior based on cognitive psychology-to the farming decision-making process of onion and garlic farmers. Of behavioral economic theories, dual system theory and prospect theory (value function), heuristic and bias were surveyed and examined in the field. The reference point of farmers was farming experience of the previous year, and so they showed reference dependence and anchoring heuristic, not rational thinking on production cost plan. And they showed status quo bias that cultivated continuously the previous year or the present crop. This status quo bias is related to loss aversion propensity. Farmers did not usually change cultivating crops, in other words, they showed diminishing sensitivity-insensitive to those that the more revenue or loss was increased. This diminishing sensitivity is related to loss aversion propensity and status quo bias. Also, farmers had representativeness heuristic because they regarded auction price of Garakdong wholesale market as the standard price level despite various prices by production region. And farmers had the affect heuristic that they depended on producers' organization data more than the state-run research institute ones about cultivation intentions and actual situations.

Estimation of Resonable Market Month of Age for Hanwoo Steer (한우 거세우의 적정 출하월령 추정)

  • Yoon, Ji Hwan;Won, Jeong Il;Lee, Kyung Soo;Kim, Jong Bok;Lee, Jeong Koo
    • Journal of Animal Science and Technology
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    • v.55 no.5
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    • pp.405-416
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    • 2013
  • This aim of this study was to estimate the most reasonable slaughter month for Hanwoo steers according to carcass traits. Carcass trait data on Hanwoo steers (17,249 head) were collected from October 2008 to September 2011. To measure the regression coefficients, Hanwoo steers were divided into two groups according to slaughter age: early (25 to 31 months) and late (32 to 38 months) groups. Regression coefficients of carcass traits according to slaughter age were significantly different (p<0.001) with the exception of PPKG (estimated auction price per 1 kg of carcass weight) in the early slaughter age group and MAR (marbling score, p<0.05) and PPKG (p<0.05) in the late slaughter age group. To obtain a positive gross margin, Hanwoo should be slaughtered at around 28 months of age.

A research on the introducing the waterproof corrugated cardboard box for the efficient shipment of chinese cabbages and radishes: Focusing on Garak-dong wholesale market as the center

  • Lee, Rae-Hyup;Sun, Il-Suck
    • Asian Journal of Business Environment
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    • v.2 no.1
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    • pp.25-34
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    • 2012
  • It is possible to use pallet for forwarding as chinese cabbages and radishes are general large-scale trading items at the agricultural wholesale market though, however, most of these are forwarded as it have packed in net bags or in P·E bags. Thus, it is still hard for palletizing. The type of packing the product in the net bag makes it difficult for palletizing. It is not a stable shape enough and easily collapsed for pallet loading. Because of this collapsibility, the corrugated cardboard box is being used to enhance forwarding efficiency, but the existing corrugated cardboard box could be crushed easily by moist what is from the agricultural product's property and it also could be squashed by the mass of the loaded box layers on itself. In contrary, the functional waterproof corrugated cardboard box is not collapsed through palletizing and it is efficient for product management with it's ventilation function in respond to pre-cooling effect. Furthermore, because it has various functional shapes as the open type, the partition type and so on, it is effective for maintaining freshness of the product and standardizing the distribution of agricultural product. It is well-known that it is possible to introduce this box to cargo-works of agricultural product. Consequently, the recognition of main distributors about the pallet distribution of the chinese cabbage and the radish was apprehended in this study for activating mechanization of loading and unloading. The survey was conducted to the main distributors such as the forwarder, the auction dealer and the commission merchant with Garak-dong wholesale market as the center. The appropriate packing materials and problems of the existing method for loading and unloading were derived through the survey. Especially, it was focused on analyzing the difference of recognition between the subject groups for the way of using waterproof cardboard corrugated box to deal with the difficult product for packing in normal corrugated box because of the box's absorption of moist from the agricultural product like a chinese cabbage and a radish. Total In the cases of the forwarders and the commission merchants, the net was highly responded as 45%, 74% from each groups for the best packing material for mechanization of distribution and the waterproof corrugated cardboard box was responded as 20%, 22% from each groups as much preferable than multi-stage wooden box. However, for the radish, the waterproof corrugated cardboard box was the best material as 56%, and the auction trader group supported it for 80%. So, the using the waterproof corrugated cardboard box for mechanization of distribution was negative for the chinese cabbage, but it was positive for the radish. The average was 2.42, the standard deviation was 1.24. The negative response(about 55%) was prevailing more than positive response(about 23%). It could be analyzed that even there was the positive recognition for using the waterproof corrugated cardboard box for the radish though the preference for low price of net bag in the chinese cabbage forwarding procedure. Still now, it seems that is a burden for using the waterproof corrugated cardboard box with high price. In the analysis on the recognition differences about using the waterproof corrugated cardboard box for the chinese cabbages and the radish between the forwarders and the commission merchants, generally the negative recognition was prevailing, but the forwarders(2.696) were more positive for using the waterproof corrugated cardboard box than the commission merchants(2.145).

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Pesticide Residues Survey on Agricultural Products before Auction at Whole Market in Busan Area during 2006~2008 (2006~2008년 부산지역 농산물도매시장 경매 전 농산물의 잔류농약 조사)

  • Kwon, Sun-Mok;Park, Eun-Hee;Kang, Jeong-Mi;Jo, Hyeon-Cheol;Jin, Seong-Hyeon;Yu, Pyeong-Jong;Ryu, Byeong-Sun;Jeong, Gi-Ho
    • The Korean Journal of Pesticide Science
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    • v.14 no.2
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    • pp.86-94
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    • 2010
  • This study was conducted to monitor the current status of pesticide residues in agricultural products before auction at whole markets in Busan area from March 2006 to December 2008. Of the 7,237 samples that were analyzed by multiresidue methods, 1,164 samples (16.1%) had pesticide residues and 231 samples (3.2%) exceeded the maximum residue limits (MRLs). 181 samples of the 231 samples exceeding MRLs were applied to the tentative limits because the use of the pesticides for the agricultural products was not established against the MRLs in the Korea Food Code, and it is equivalent to 78.4%. The order of pesticides exceeding MRLs was endosulfan, procymidone, chlorothalonil, ethoprophos, chlorpyrifos, diethofencarb, kresoxim-methyl and EPN. Of 211 samples with two or more pesticides residues, the residues exceeded the MRLs in 80 samples and it is equivalent to 37.9%. This study results suggested that pesticide residues exceeding MRLs could be attributed to the use of inapplicable pesticides for agricultural products and the use of two or more pesticides.

Designing Intelligent Agent System for Purchase Decision Making in Retail Electronic Commerce (전자상거래에서의 소비자 구매의사결정을 지원하는 지능형 에이전트 시스템의 설계)

  • Chu Seok Chin;Hong June S.
    • Journal of Intelligence and Information Systems
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    • v.10 no.2
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    • pp.147-163
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    • 2004
  • For the purchase of a cheaper product on the Internet, many customers have been trying to search online shopping mall sites and visit comparison-pricing shops that compare prices and other criteria of the product. Others have been participating into online auction markets or group-buying markets. However, a lot of online shopping malls, auction markets, and group-buying markets provide the same product with different prices. Since these marketplaces have different price settlement mechanism, it is very difficult for the customers to determine marketplace to purchase, considering different kinds of marketplaces at the same time. To overcome such limitations, decision rules and solution procedures for purchase decision making are necessary, which can cover multiple marketplaces simultaneously. For this purpose, purchase decision making in each market must be conducted to maximize customer's utility, and conflicts with other marketplaces must be resolved. Therefore, we have developed the rules and methods that can negotiate cooperatively the purchase decision making in several marketplaces, and designed an architecture of Intelligent Buyer Agent and a message structure to support the idea.

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Game Based Cooperative Negotiation among Cloud Providers in a Dynamic Collaborative Cloud Services Platform (게임 이론 기반 동적 협력 클라우드 서비스 플랫폼에서의 클라우드 공급자간 협상 기법)

  • Hassan, Mohammad Mehedi;Huh, Eui-Nam
    • Journal of Internet Computing and Services
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    • v.11 no.5
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    • pp.105-117
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    • 2010
  • In recent years, dynamic collaboration (DC) among cloud providers (CPs) is becoming an inevitable approach for the widely use of cloud computing and to realize the greatest value of it. In our previous paper, we proposed a combinatorial auction (CA) based cloud market model called CACM that enables a DC platform among different CPs. The CACM model allows any CP to dynamically collaborate with suitable partner CPs to form a group before joining an auction and thus addresses the issue of conflicts minimization that may occur when negotiating among providers. But how to determine optimal group bidding prices, how to obtain the stability condition of the group and how to distribute the winning prices/profits among the group members in the CACM model have not been studied thoroughly. In this paper, we propose to formulate the above problems of cooperative negotiation in the CACM model as a bankruptcy game which is a special type of N-person cooperative game. The stability of the group is analyzed by using the concept of the core and the amount of allocationsto each member of the group is obtained by using Shapley value. Numerical results are presented to demonstrate the behaviors of the proposed approaches.

Study on the Introduction of Spectrum Policy to Revitalize the Domestic Spectrum Sharing (국내 주파수 공동사용 활성화를 위한 정책 도입방안 연구)

  • Choi, Joo-Pyoung;Lee, Won-Cheol
    • The Journal of Korean Institute of Electromagnetic Engineering and Science
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    • v.29 no.3
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    • pp.200-213
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    • 2018
  • Herein, we survey the current state of the recent legal revision of the Citizens Broadband Radio Service, a type of city spectrum-sharing service used in the United States of America, and the introduction of spectrum sharing in the frequency ranging from 3.8~4.2 GHz, based on the United Kingdom framework for spectrum sharing. Specifically, the subjects of topical interest, including the radio station licensing of the spectrum-sharing service system face-to-face multitier user structure, regional frequency allocation, and applicable service types, are discussed. Furthermore, factors to be considered while selecting candidate channels for joint use are suggested, emphasizing their importance for introducing spectrum sharing in Korea and revitalizing the related industrial sectors. In addition, methods of introducing a radio station license system for spectrum sharing, techniques of introducing incentive auctions, and the types of services where spectrum sharing is applicable are discussed.

A Study on the Non-boundary Phenomena Between Art and Design in Art-furniture (아트퍼니처에서 나타나는 예술과 디자인의 비경계적 현상에 관한 연구)

  • Choi, Byung Hoon;Jung, Myung Taek
    • Journal of the Korea Furniture Society
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    • v.24 no.3
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    • pp.226-238
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    • 2013
  • In the 21st century, boundary between different fields is coming down, convergence and consilience are taking place. It would not be an exaggeration to say key buzzword of the 21st century is 'convergence'. Also in the field of art and design, the border between the two areas is getting more ambiguous. With the reason, both the new awareness and interest on Art Furniture are becoming more heightened. So far as part of the decorative art category Art Furniture was covered. However Art Furniture is now no longer a fixture of that field, but became independent as a new genre of art. As proof of this, at the international representative art fairs including the Design Miami, PAD London, and The Salon of Art and Design which was recently established in New York, etc. Art Furniture is becoming a showcase as the main pieces. Moreover, at the world's major art market Sotheby's, Christie's, and Seoul Auction, Art Furniture's position is more successfully becoming extended. At this point the analysis of the status and the cause on the non-boundary phenomena between art and design is inevitably required to understand the disposition of the public and to develop the domestic furniture industry. Thus, this paper purposes to present the new direction for that the domestic Art Furniture encompasses the two areas with satisfaction to the demands of the public by studying on the non-boundary phenomena between art and design in contemporary Art Furniture.

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Strategies to Enhance the Linkage between Retailers and Agricultural Product Wholesale Markets (소매업체와 농산물 도매시장의 연계성 강화 방안 - 청과물을 중심으로 -)

  • Kim, Dong-Hwan
    • Journal of Distribution Research
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    • v.15 no.5
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    • pp.273-285
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    • 2010
  • This paper analyzes retailers' purchasing patterns of fruits and vegetables and the problems with purchasing from agricultural product wholesale markets. While large-scale retailers purchase fruits and vegetables from various sources, medium and small-scale retailers and food service companies buy them mostly from agricultural product wholesale markets. The retailers point out the problems with purchasing from agricultural product wholesale markets as a lack of quality uniformity, not sufficient cooling storage facilities, not sufficient space for shipping area, high distribution cost, unnecessary price fluctuation, and etc. In order to enhance the linkage with retailers, agricultural product wholesale markets, first of all, have to adopt more flexible trading methods such as private treaty besides auctions which are exclusively legitimate trading methods in the market. Necessary are enlargement of jobbers' operating scale, securing shipping space for retailers, adoption of inspection service, introduction of methods to stabilize auction prices, saving of loading and unloading costs, implementation of marketing strategies.

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The Impact of An Interaction between Product Quality and Perceived Risk on Seller Profit

  • Seung HUH
    • The Journal of Economics, Marketing and Management
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    • v.11 no.2
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    • pp.23-32
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    • 2023
  • Purpose: This study examines the effect of full information disclosure on seller profit when there exists information asymmetry between sellers and buyers, focusing on the risk averseness of buyers. By investigating the interaction between product quality and perceived risk through online sales data, we attempt to figure out the incentive structure of full information disclosure specifically when buyers are risk-averse, so that we can suggest more feasible information disclosure strategy to sellers. Research design, data and methodology: Our empirical model analyzes the sales data of collectible goods from a major online seller using Poisson regression. In our model, we have specifically considered risk-averseness of buyers by estimating the interaction effect between the product quality and perceived risk on seller profit, aiming for a more precise empirical analysis on sellers' incentive structure of full disclosure. Results: Our empirical analysis strongly supports the effect of interaction between product quality and perceived risk, showing that the incentive for full disclosure is much stronger when product quality is higher, and vice versa. Therefore, sellers are strongly encouraged to voluntarily reveal product weaknesses when their product quality is higher than average, while it is more profitable to hide any product defects when quality claim is lower than average. Conclusions: This study supports the related literature by confirming economic incentives for full disclosure, and also supplements and strengthens previous studies by presenting that the effect of interaction between product quality and perceived risk strongly affects seller profit. Our unique finding supports both mandatory disclosure and voluntary disclosure arguments and presents practical implications to marketing managers by suggesting that seller's incentive for revealing weaknesses depends on the level of seller's product quality.