• KDI Journal of Economic Policy
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• v.38 no.1
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• pp.23-52
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• 2016

This paper examines the impact of introducing high-speed trains on consumer welfare, taking the ensuing changes in train schedules into account. Based on the estimated demand model for travel which incorporates consumer's heterogeneous preferences for travel schedules into the standard discrete-choice model, I separately evaluate the impact from adding high-speed trains and that from changes in train schedules. The results indicate that consumers who travel between two cities connected by high-speed trains benefit from the introduction of high-speed trains, while some travelers whose choice set does not include high-speed trains face a reduced frequency of non-high-speed trains, resulting in significant losses.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.8
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• pp.465-473
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• 2021

This study is the application of a choice experiment to assess Mekong Delta urban households' preferences and motivations for ecosystem conservation in the U Minh forest. The study applied a choice modeling approach to estimate the economic values of the proposed ecosystem conservation program in the U Minh forest by accessing urban consumer preferences and their willingness to pay for the project. Discrete choice experimental data was collected from 450 residents in the cities of the Vietnamese Mekong Delta. The multinomial logit model was employed to identify consumer's stated preferences for the environmental and sustainability attributes of the conservation project. The results showed that Mekong Delta urban residents paid much attention to the proposed project to protect and develop the U Minh forest. In addition, the results showed that higher education, income, and knowledge of the U Minh forest revealed a higher likelihood of selecting the project, while the older residents would select the status quo more than the younger ones. The study also proved that the effect of participation had a strong impact on the willingness to pay for the project. The findings could be useful for policymakers to take action to raise resident's awareness and willingness to pay for the U Minh forest project.

• Health Policy and Management
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• v.19 no.4
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• pp.98-120
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• 2009

The purpose of this study is to elicit preference for drug listing decision criteria and to estimate the ICER threshold in South Korea using the discrete choice experiment (DCE) method. To collect the data, a DCE survey was administered to a subject sample either educated in the principle concepts of pharmacoeconomics or were decision makers within that field. Subjects chose between alternative drug profiles differing in four attributes: ICER, uncertainty, budget impact and severity of disease. The orthogonal and balanced designs were determined through computer algorithm to take the optimal set of drug profiles. The survey employed 15 hypothetical choice sets. A random effect probit model was used to analyze the relative importance of attributes and the probabilities of a recommendation response. Parameter estimates from the models indicated that three attributes (ICER, Impact, Severity of disease) influenced respondents' choice significantly(p${\pm}$0.001). In addition, each parameter displayed an expected sign. The Lower the ICER, the higher the probability of choosing that alternative. Respondents also preferred low levels of uncertainty and smaller impact on health service budget. They were also more likely to choose drugs for serious diseases rather than mild or moderate ones. Uncertainty however is not statistically significant. The ICER threshold, at which the probability of a recommendation was 0.5, was 29,000,000 KW/QALY in expert group and 46,500,000 KW/QALY in industry group. We also found that those in our sample were willing to accept high ICER to get medication for severe diseases. This study demonstrates that the cost-effectiveness, budget impact and severity of disease are the main reimbursement decision criteria in South Korea, and that DCE can be a useful tool in analyzing the decision making process where a variety of factors are considered and prioritized.

• Management Science and Financial Engineering
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• v.19 no.2
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• pp.31-36
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• 2013

We propose a war-game model that is appropriate for a raid-type warfare in which, a priori, the maneuver of the attacker is relatively certain. The model is based on a multi-weapon extention of the Lanchester's law. Instead of a continuous time dynamic game with the differential equations from the Lanchester's law, however, we adopt a multi-period model relying on a time-discretization of the Lanchester's law. Despite the obvious limitation that two players make a move only on the discrete time epochs, the pragmatic model has a manifold justification. The existence of an equilibrium is readily established by its equivalence to a finite zero-sum game, the existence of whose equilibrium is, in turn, well-known to be no other than the LP-duality. It implies then that the war-game model dictates optimal strategies for both players under the assumption that any strategy choice of each player will be responded by a best strategy of her opponent. The model, therefore, provides a sound ground for finding an efficient reinforcement of a defense system that guarantees peaceful equilibria.

• Asia pacific journal of information systems
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• v.15 no.4
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• pp.165-192
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• 2005

This study introduces how to estimate the monetary value of intellectual capital of a public research institute by incorporating a non-market valuation technique, the choice experiments(CE). CE is a survey-based environmental valuation technique that has increasingly been popular over the last decade. The members of institute E, a typical type of public research institutes in Korea, were surveyed, before the data were fit to the conditional logit and mixed logit models. The total value of the institute's intellectual capital was estimated at approximately W3,377 billion for the year 2003. The institute's human, structural and relational capitals that comprise the intellectual capital were estimated at W18.7 billion, W10.7 billion and W4.4 billion respectively, for each of the components' index values improving by 1%. The human capital was placed a higher value than the other two. The study also shows that CE is a flexible technique that enables the researcher to estimate the monetary value of the intellectual capital whatever the index values of the component capitals and to interpret model estimation results more in depth by incorporating the mixed logit, a state-of-the-art discrete choice model, than the conventional conditional logic.

• Wind and Structures
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• v.20 no.2
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• pp.169-189
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• 2015

To investigate the effects of "sudden change" of wind fluctuations on vehicle running performance, which is caused by the artificial discrete simulation of wind field, a three-dimensional vehicle model is set up with multi-body dynamics theory and the vehicle dynamic responses in crosswind conditions are obtained in time domain. Based on Hilbert Huang Transform, the effects of simulation separations on time-frequency characteristics of wind field are discussed. In addition, the probability density distribution of "sudden change" of wind fluctuations is displayed, addressing the effects of simulation separation, mean wind speed and vehicle speed on the "sudden change" of wind fluctuations. The "sudden change" of vehicle dynamic responses, which is due to the discontinuity of wind fluctuations on moving vehicle, is also analyzed. With Principal Component Analysis, the comprehensive evaluation of vehicle running performance in crosswind conditions at different simulation separations of wind field is investigated. The results demonstrate that the artificial discrete simulation of wind field often causes "sudden change" in the wind fluctuations and the corresponding vehicle dynamic responses are noticeably affected. It provides a theoretical foundation for the choice of a suitable simulation separation of wind field in engineering application.

• Environmental and Resource Economics Review
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• v.15 no.4
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• pp.741-760
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• 2006

As a part of the 21st Century Frontier Projects, Korea is building a proton linear accelerator complex. Using the discrete choice conjoint analysis method, this study evaluates the complex. Multinomial logit model is employed as an econometric model and Hicks' compensating variation is adopted as a welfare measure. The results show that an average willingness-to-pay (WTP) of a would-be user measured by the compensating variation is estimated by 1.93 million Korean won per hour for the specification of the complex being built.

• STI Policy Review
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• v.2 no.2
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• pp.45-54
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• 2011

This paper develops a recursive multinomial probit model and describes its estimation method. The recursive multinomial probit model is an extension of a recursive bivariate probit model. The main difference between the two models is that a single decision among two or more alternatives can be considered in each choice equation in the proposed model. The recursive multinomial probit model is developed based on a standard framework of the multinomial probit model and a Bayesian approach with a Gibbs sampling is adopted for the estimation. The simulation exercise with artificial data sets is showed that the model performed well. Since the recursive multinomial probit model can be applied to analyze the causal relationship between discrete dependent variables with more than two outcomes, the model can play an important role in extending the methodology of the causal relationship analysis in innovation research.

• Journal of Korean Society of Transportation
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• v.20 no.5
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• pp.183-191
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• 2002

본 논문은 ATIS의 효과를 평가할 수 있도록 교통정보제공에 따른 운전자의 노선선택 행태자료를 수집할 수 있는 시뮬레이터 개발에 관한 것이다. 현재 이러한 행태자료를 수집하기 위해서 설문지에 의한 SP(Stated Preference) 설문조사가 널리 수행되어지고 있으나 이러한 설문조사방법은 ATIS와 같은 가상의 환경을 응답자에게 이해시킬 수 있는 설문지를 작성하기가 힘들고, 무엇보다 운전중에 느끼게 되는 time pressure를 현실적으로 반영하지 못하기 때문에 신뢰성있는 자료를 수집하는데 어려움이 있다. 시뮬레이터는 보다 현실적인 교통상황을 계산하고 적절한 인터페이스 구성을 통해 교통상황과 분석자의 설문 의도를 응답자에게 효과적으로 인지시킬 수 있다는 장점을 가지고 있다. 본 연구에서 세 가지 모듈(교통 시뮬레이션 모듈, 데이터베이스 모듈, 이용자 인터페이스 모듈)로 구성된 프로토타입 시뮬레이터를 개발하였다. 개발된 프로토타입의 유용성을 알아보기 위해 실제로 실시간 교통정보가 제공되는 작은 네트워크를 대상으로 파일럿 테스트를 수행하였고, 수집된 자료는 discrete choice model을 정산하는데 사용하였으며 그 분석결과는 상당히 합리적인 것으로 나타났다. 따라서, 이러한 시뮬레이터는 교통정보전략에 따른 효과를 사전에 분석해보고, 효과적인 교통정보시스템을 설계 및 운영하는데 활용될 수 있을 것이다.

• Journal of international Conference on Electrical Machines and Systems
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• v.2 no.3
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• pp.260-268
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• 2013

Based on classical Berotti discrete iron loss calculation model, the iron loss analysis mathematical model of alternator was proposed in this paper. Considering characteristics of high speed and changing frequency of the alternator, Maxwell 3-D model was built to analyze iron loss corresponding to each running speed in alternator. Based on iron loss model of alternator at rated speed, the rotor claw pole size was made an optimization design. The optimization results showed that alternator's output performance had been improved. A new idea was explored in size optimization design of claw pole alternator.