• Journal of Energy Engineering
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• v.22 no.3
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• pp.245-249
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• 2013

This paper attempts to estimate the kerosene demand function in Korea over the period 1981-2012. As the kerosene demand function provides us information on the pattern of consumer's kerosene consumption, it can be usefully utilized in predicting the impact of policy variables such as kerosene price and forecasting the demand for kerosene. We apply least absolute deviations and least median squares estimation methods as a robust approach to estimating the parameters of the kerosene demand function. The results show that short-run price and income elasticities of the kerosene demand are estimated to be -0.468 and 0.409, respectively. They are statisitically significant at the 1% level. The short-run price and income elasticities portray that demand for kerosene is price- and income-inelastic. This implies that the kerosene is indispensable goods to human-being's life, thus the kerosene demand would not be promptly adjusted to responding to price and/or income change. However, long-run price and income elasticities reveal that the demand for kerosene is price- and income-elastic in the long-run.

• Fashion & Textile Research Journal
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• v.22 no.2
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• pp.209-221
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• 2020

Recently, following the commercialization and market entry of smart clothes with diverse functions, smart clothes have been changing from technology-centered products to user-centered products. However, the analysis of consumer demand centered on actual commercialized products is lacking. Therefore, this study classified commercialized smart clothes by function and analyzed the demand and requirements of smart clothes according to sports/outdoor clothes consumption behaviors. As a result, consumers were classified according to their sports/outdoor clothes consumption behaviors into an outdoor leading group with high consumption propensity, an outdoor pursuit group with medium consumption propensity, and an outdoor following group with low consumption propensity. Among the commercialized smart clothes, those with a heartbeat measuring function, those with a heating function, and those with a light-emitting function were presented and demand analysis was conducted. According to the results, the outdoor leading group and the outdoor pursuit group had higher levels of awareness, preference, and purchase intentions than the outdoor following group. In addition, the outdoor leading group showed the highest level of purchase price acceptance while the outdoor following group showed the lowest level of purchase price acceptance. However, this study has a limitation that the acceptance for smart clothes were analyzed with consumers who had experience in sports outdoor clothes consumption. Therefore, in future, studies will be conducted with a wide range of consumers.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.54 no.2
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• pp.79-87
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• 2005

At present Cournot model is one of the most commonly used theories to analyze the gaming situation in oligopoly market. But there exist several problems to apply this model to electricity market. The representative one is to obtain the inverse demand curve able to be induced from the relationship between market price and demand response. In Cournot model, each player offers their generation quantity to accomplish maximum profit, which is accomplished by reducing their quantity compared with available total capacity. As stated above, to obtain the probable Cournot equilibrium to reflect real market situation, we have to induce the correct demand function first of all. Usually the correlation between price and demand appears on the long-term basis through the statistical data analysis (for example, regression analysis) or by investigating consumer utility functions of several consumer groups classified as residential, industrial, and commercial. However, the elasticity has a tendency to change continuously according to the total market demand size or the level of market price. Therefore it should be updated as trading period passes by. In this paper we propose a method for inducing and updating this price elasticity of demand function for more realistic market equilibrium.

• KIEE International Transactions on Power Engineering
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• v.5A no.4
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• pp.403-411
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• 2005

At present, the Cournot model is one of the most commonly used theories to analyze the gaming situation in an oligopoly type market. However, several problems exist in the successful application of this model to the electricity market. The representative one is obtaining the inverse demand curve able to be induced from the relationship between market price and demand response. In the Cournot model, each player offers their generation quantity to obtain maximum profit, which is accomplished by reducing their quantity compared with available total capacity. As stated above, to obtain the probable Cournot equilibrium to reflect the real market situation, we have to induce the correct demand function first of all. Usually the correlation between price and demand appears over the long-term through statistical data analysis (for example, regression analysis) or by investigating consumer utility functions of several consumer groups classified as residential, industrial, and commercial. However, the elasticity has a tendency to change continuously according to the total market demand size or the level of market price. Therefore it should be updated as the trading period passes by. In this paper we propose a method for inducing and updating this price elasticity of demand function for more realistic market equilibrium.

• Knowledge Management Research
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• v.6 no.2
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• pp.23-47
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• 2005

This study is performed the multinomial logistic regression with the officials needs level about a component of knowledge administration for drawing a demand estimation model in the knowledge administration activities. This study is not that an activity and domain of knowledge administration is to apply and to operate uniformly it in public sector, one is suggested an application with a demand diagnose of knowledge administration in order to saw a course of the knowledge administration programs to suit a function and role of public administration. A result of this study is that an activity and domain of the knowledge administration is different from a component of it namely, knowledge creating, knowledge organizing, knowledge sharing and distribution, knowledge utility, and knowledge store. And the officials individual characteristics, administration agency, a kind of business, and a function and role of work are different from demand of knowledge administration. Also, the practical use of KMS (knowledge management system) is not so high in public sector. Accordingly, the tools of knowledge administration will deliberate on a consolidation with the existing system in the device.

• Journal of Korean Society of Forest Science
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• v.103 no.3
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• pp.462-472
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• 2014

This study is aimed at developing a supply-demand model of wood products, and outlook for mid-term and long-term supply and demand for each products. The main wood products include sawnwood, plywood, particle board, fiberboard (MDF), and pulp. The partial equilibrium model is composed of supply function, import demand function, demand function, price relation function. With given parameters the outlook for year 2050 says that sawnwood, plywood, and fiberboard for domestic productions and imports are decreased. This may result from the increase of log prices from the inside and outside of the country because of the propensity for environment protection and the resource nationalism. On the other hand the supply of particle board and pulp will increase because they are made from wasted wood and chips.

• Environmental and Resource Economics Review
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• v.27 no.2
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• pp.287-313
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• 2018

This paper measures and analyzes cooling and heating demand in Korean electricity demand using time-varying temperature response functions and cooling and heating temperature effects. We fit the model to Korean data for residential and commercial sector over 1999:01~2016:12 and the estimation results show that the growth rate of heating demand is much higher than that of base and cooling demand, and especially the growth rate of heating demand in commercial sector is much higher. And we define the temperature-normalized demand conditioning that monthly temperatures are assumed as average monthly temperatures. The growth rate of heating demand in the estimated temperature-normalized demand is higher than that in the real demand. Our results are expected to be a base data for Winter Demand Management and short-term electricity demand forecasting.

• Journal of Electrical Engineering and Technology
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• v.8 no.3
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• pp.436-445
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• 2013

The use of a demand response controller is necessary for electric devices to effectively respond to time varying price signals and to achieve the benefits of cost reduction. This paper describes a new formulation with the form of constrained optimization for designing an optimal demand response controller. It is demonstrated that constrained optimization is a better approach for the demand response controller, in terms of the ambiguity of device operation and the practicality of implementation of the optimal control law. This paper also proposes a design scheme to construct a demand response controller that is useful when a system controller is already adapted or optimized for the system. The design separates the demand response function from the original system control function while leaving the system control law unchanged. The proposed formulation is simulated and compared to the system with simple dynamics. The effects of the constraints, the system characteristics and the electricity price are examined further.

• Journal of Biosystems Engineering
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• v.31 no.3 s.116
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• pp.194-202
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• 2006

Using a multi-variable linear regression technique and SUR(seemingly unrelated regression) model, the demand functions of tractor, combine and rice transplanter were estimated. The demand was regarded as an annual supply of each machine and modeled as a function of 11 independent variables which reflect the actual farmer's income, actual prices of farm machines, previous supply, previous stock, actual amount of available subsidy, actual amount of available loan, arable land, import of farm machines and rice price. The actual amount of available loan affects most significantly the demand functions. The actual farmer's income, actual farmer's asset, loan coverage, and rice price affect the demand positively while prices of farm machines and import negatively. The annual demands of tractor, combine and rice transplanter estimated using the demand functions were also presented over the next 4 years.

• Environmental and Resource Economics Review
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• v.14 no.2
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• pp.475-491
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• 2005

This study reviews various problems associated with the method of estimating the demand for industrial water that was employed in the Water Vision 2020 and it suggests an alternative econometric method. Comparing with the data cited in the Report on Industrial Census, estimates obtained by employing the concept of demand function are more exact compared to those offered by the Water Vision 2020. The amount of industrial water in 1998 was estimated at 2.8 billion tons decreasing by 2003. By employing the concept of demand function, this study shows that the amount of industrial water was 2.1 billion tons in 2003 while according to the Water Vision 2020 it amounted to 3.3 billion tons in 2001. Thus, it appears that the amount of industrial water in the Water Vision 2020 has been overestimated. This study also shows that the industrial water demand can be controlled by means of certain pricing policies. Finally, we argue that the demand for industrial water should be estimated by taking account of economic variables such as water price and output.