• ETRI Journal
• /
• v.35 no.6
• /
• pp.1126-1133
• /
• 2013

The first spectrum auction in the Republic of Korea is attention-worthy owing to the fierce competition for the only 1.8-GHz spectrum license, the winning bidder of which was suspected of overpaying for its acquisition. This study empirically investigates the existence of a "winner's curse" in the first Korean spectrum auction by using a standard event study methodology. The results show that both the winner and loser experienced significant positive returns on the completion day of the auction. The results imply that there was no winner's curse in the auction and that the losing firm might increase its competitive advantage by acquiring other spectrum licenses despite failing to achieve its initial target spectrum. Therefore, these results suggest that regulators may need to consider bringing about positive short-term wealth benefits to all bidders by appropriately designing a spectrum auction, such as by performing multiband auctions.

• Proceedings of the KIEE Conference
• /
• 2002.07a
• /
• pp.444-446
• /
• 2002

현재, 전세계의 전력산업은 수직 통합적 독점산업에서 부문간 경쟁산업으로 변화하고 민영화를 통한 시장경쟁원리가 도입되고 있다. 이러한 전세계적 전력산업 구조개편에 발맞추고, 전력산업에서의 효율을 제고하기 위하여 우리나라도 전력산업에 시장경쟁 체제를 도입하고 발전산업에 민영화를 추진하고 있다. 이러한 새로운 시장 환경아래에서 전력거래가 원활하게 이루어지고, 시장이 안정화되기 위해서는 정부, 전력거래소, 발전회사 등과 같은 시장참여자들이 전력시장을 분석할 수 있는 방법론 및 모델을 확보하고 있어야 한다. 따라서 본 논문에서는 이러한 전력시장을 분석하기 위한 방법론으로 게임이론을 적용하여 각 발전회사가 선형함수(linear offer curve)로 입찰하는 현물시장에서 각 발전회사의 최적입찰전략 및 시장균형을 분석하고자 한다. 이를 통해 각 발전회사는 현물시장에서 자신의 이익을 최대화하기 위한 최적의 입찰전략을 수립하는데 이용할 수 있게 되며 규제자 및 시장운영자는 현물시장을 예측 분석할 수 있다.

• Electronics and Telecommunications Trends
• /
• v.27 no.1
• /
• pp.136-146
• /
• 2012

해외 주요국들은 원활한 모바일 브로드밴드 환경 구축 및 서비스 보급을 위한 주파수 확보와 할당을 적극적으로 추진하고 있는 상황이다. 특히, 모바일 브로드밴드 보급을 국가적 전략 목표로 세우고, LTE 서비스 활성화를 위해 digital dividend 대역을 포함한 4G 주파수 경매를 완료하였거나 진행 중에 있다. 한편 우리나라는 2011년 8월에 최초로 주파수 경매를 실시하였으며, 주파수 수요조사 미흡 및 과열경쟁, 경매 방식에 따른 승자의 저주 등 여러 가지 문제점들이 제기되었고, 이에 대한 개선 방안 마련이 필요하다. 또한 2012년 디지털 방송 전환으로 인한 700MHz 주파수 대역에 대한 경매 이슈가 주요 쟁점이 되고 있다. 따라서 본고에서는 원활한 4G 서비스 전개 및 효율적인 주파수 할당을 위해서 국내 주파수 경매제도에 대한 개선방안 마련을 목표로 하여, 해외 주요국들의 4G 주파수 경매 할당 동향을 비교, 분석하고, 주요 이슈를 도출하였다. 도출된 결과는 향후 국내의 성공적인 주파수 경매제를 위한 운영방안 마련에 활용될 수 있을 것으로 사료된다.

• Environmental and Resource Economics Review
• /
• v.9 no.4
• /
• pp.747-771
• /
• 2000

This paper reports the results of a study to elicit willingness to pay (WTP) for changes in health risks from exposure to As, Pb, THM in tap water using experimental market method. The experimental market method, compared with other non-market valuation methods, allows us to use incentive compatible demand revealing scheme, to acquire market-like experience through repetitive auctions, and to incorporate learning process by providing new information during the session. Participants seemed to utilize the objective risk information in a 'rational' manner, and to change their WTP bids accordingly. Moreover they were able to reduce the 'ambiguity' in risk perception processes when objective risk probabilities provided are quite different from their subjective perceptions. Nonetheless, anchoring effects appeared to be still persistent in spite of market-like experience and learning opportunity. And implicit values entailed by WTP bid/risk tradeoffs indicate a wide variation in values across alternative risk reductions and overrated responses to very small risk reductions.

• Proceedings of the Computational Structural Engineering Institute Conference
• /
• 1998.04a
• /
• pp.449-456
• /
• 1998

A consistent finite element formation and analytic solutions are presented for spatial stability of thin-walled circular arch. The total potential energy is derived by applying the principle of linearized virtual work and including second order terms of finite semitangential rotations. As a result the energy functional corresponding to the semitangential rotation is obtained, in which the elastic strain energy terms are considered restrained warping effects. We have obtained analytic solution for the lateral buckling of monosymmetric thin-walled curved beam subjected to pure bending or uniform compression and it's boundary conditions are simply supported. For finite element analysis, the two node cubic Hermitian polynomials are utilized as shape Auctions. In order to illustrate the accuracy of this study, parameter studies for lateral buckling problems of circular arch are presented and compared with available solutions and numerical results analyzed by the FEM using straight beam element.

• Journal of Information Technology Services
• /
• v.5 no.1
• /
• pp.165-175
• /
• 2006

Electronic commerce has many advantages compared to the traditional way of doing business such as up to date information and rich service for less cost. There is a growing number of electronic commerce applications on the Internet. Using software agent technology, the market framework offers timesaving automation of auctions and flexibility through negotiations among the agents. In this research, we attempt to evaluate the performance of a negotiation decision function that considers the potential competitors in competitive market environment as well as that of a negotiation decision function that does not. For this evaluation, this study adopts the electronic marketplace as an application domain in which many sellers and buyers compete for limited resources in the marketplace.

• The Journal of Fisheries Business Administration
• /
• v.29 no.2
• /
• pp.111-141
• /
• 1998

Why are auctions so prevalent in fisheries fields\ulcorner One answer is, perhaps, that fisheries products have no standard value. The price of any catch of fish (at least of fish destined for the fresh fish market) depends on the demand and supply conditions at a specific moment of time, influenced by prospective market developments and prices must be remade for each transaction. There are various auction schemes including written-bid method in Korea. It is difficult to make decision the application of auction selling in market distribution. One reason is the absence of adequate data on which to base firm statements. There is very little precise information about the relative volume handled by auction scheme as compared with other sales schemes Because of the paucity reliable data, one must depend largely on qualitative in attempting to above this problem. This paper is designed to examine which auction scheme is more efficient as a economic tool by introducing the three auctions, as samples, utilized in Koheung peninsula. Koheung coast with abundant fisheries resource, locates on the Middle-South part in Korea and has three auction firm operating by fisheries cooperatives. fur selling of dry fish included sea weed, live fish and fresh fish respectively, As a result, 1 found that there are three interesting auction schemes as follow : 1. More than one winners are selected as buyers. The highest bidder can at first get fishes he wants to buy, second winner can get surplus fishes after the highest bidder employes one's privilege with the highest pay, and next winner would be a buyer if fishes would be left in sequence after being sold with higher price. Every fisherman can sell one' s fishes with equal unit price if he delivery it to the winner within one day. Therefore, all the vendors feel they are equal members of fisheries cooperation. 2. Written-bid pricing on the cover of handy book. It is easy to write and to erase the figure more than on the small black board, and is convenient also to keep in the pocket. 3. Auctioning on the fixed platform with fixed fish tank is a very fast auction scheme in spite of short displaying time. Auctioneer presides bidding at one place on the fixed platform, instead of moving, vendors should carry a container of live fishes in the fish tank into showing table in front of would-be buyers and auctioneer. Although the applicability of the auction system to a marketing problem depends in part on subjective considerations by those making decision, basically it is a matter of comparative economic efficiency. In general, if the scheme maximizes returns in relation to the effort expanded by both buyers and sellers, it will be utilized. If it does not, a more efficiency may take place over a period of time, but, even more important, those making decisions may become aware of the potentialities of new schemes. Therefore, in order to applicate the three interesting auction schemes introduced in this paper to other fisheries market, it is necessary not only to analyze many other auction schemes but also to compare the economic efficiency those schemes utilizing in other fisheries market.

• Journal of KIISE:Computing Practices and Letters
• /
• v.7 no.6
• /
• pp.641-652
• /
• 2001

Most of current internet auction systems are single auction server program that partly automates the function of the conventional auction house. So these systems do not provide sufficient independence, distribution and parallelism between the functions of the conventional auction house. In these suction systems, only some of suction management facilities are automated by the server program, but still users need to execute a repetitive task to monitor the dynamic progress of a certain auction, decide the proper bid price, and submit the bid. Another problem is that they support only the single auctions such as English suction and Dutch auction, but they do not support the double auctions that are superior to the single auction in terms of speed, efficiency, and the fair distribution of profit. In this paper, we present are design and implement of an agent-based continuous double auction system, called CoDABot, in order to overcome the limitations of current auction systems. CoDABot supports the continuous double auction, provides various bidding agents for users to select, and has been implemented with a multi-agent system to realize more independent, and parallel subsystems.

• Journal of Fisheries and Marine Sciences Education
• /
• v.27 no.6
• /
• pp.1685-1692
• /
• 2015

This study examines the mackerel distribution systems in Norway which has a leading mackerel industry, and has the purpose of analyzing the effects of structural improvements for the development of Korea's mackerel industry. The landing and distribution status of Korea and Norway's mackerel industry was compared, and the effects of structural improvements was analyzed under the assumption that a number of factors would be improved after an analysis of competitiveness. Special features of the landing and distribution systems of mackerel in Norway are Reduction of transportation costs and transportation time through E-auctions, fish Pumps, freshness management using state-of-the-art equipment and technology such as sea water cooling systems, direct landing at processing factories and Automation through fully automated sorting & packaging systems. The distribution competitiveness of Korea and Norway's mackerel industry was compared through the qualitative review of landing time and the length of distribution channel, distribution costs due to differences in trading method, quality and hygiene management and merchandising. For Korea's mackerel industry to have international competitiveness, they must have efficiency throughout the phases of landing, processing and distribution systems as observed in case of Norway.

• The Proceeding of the Korean Institute of Electromagnetic Engineering and Science
• /
• v.17 no.3 s.59
• /
• pp.63-73
• /
• 2006

Auctions have been traditionally used to find the current price of goods when little is known about their true value. A special auction methodology, called a 'simultaneous multiple round auction', is available to auction radiofrequency spectrum where all lots are simultaneously on of for over multiple rounds of bidding. This type of auction is especially useful when there are lots that are of essentially equal value and substitutable, except that different bidders may prefer different combinations of lots. By using multiple rounds, a bidder has the opportunity to gather information concerning the value of individual lots and can change strategy by shifting the bidding to another preferred combination if one combination becomes too expensive. Information is released in three main ways during an auction: Bidder Status; High Bids; and Bandwidth Value.