• Economic and Environmental Geology
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• v.28 no.4
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• pp.433-438
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• 1995

The most popular minimization method is based on the least-squares criterion, which uses the $L_2$ norm to quantify the misfit between observed and synthetic data. The solution of the least-squares problem is the maximum likelihood point of a probability density containing data with Gaussian uncertainties. The distribution of errors in the geophysical data is, however, seldom Gaussian. Using the $L_2$ norm, large and sparsely distributed errors adversely affect the solution, and the estimated model parameters may even be completely unphysical. On the other hand, the least-absolute-deviation optimization, which is based on the $L_1$ norm, has much more robust statistical properties in the presence of noise. The solution of the $L_1$ problem is the maximum likelihood point of a probability density containing data with longer-tailed errors than the Gaussian distribution. Thus, the $L_1$ norm gives more reliable estimates when a small number of large errors contaminate the data. The effect of outliers is further reduced by M-fitting method with Cauchy error criterion, which can be performed by iteratively reweighted least-squares method.

• East Asian Economic Review
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• v.16 no.1
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• pp.97-115
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• 2012

This paper investigates the relationship between financial markets and output growth for a panel of 27 Asian countries over 1960-2009. It utilizes the recently-developed panel cointegration techniques to test and estimate the long-run equilibrium relationship between real GDP and financial development proxies. Real GDP and financial development variables are found to have unit roots and to be cointegrated, based on various panel unit root tests and panel cointegration tests. We find that there is a statistically significant positive bi-directional cointegrating relationship between financial development and output growth by three distinct methods of panel cointegration estimation. Empirical findings suggest that financial market development promotes output growth and in turn output growth stimulates further financial development.

• Wind and Structures
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• v.31 no.4
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• pp.311-319
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• 2020

India is a developing nation and heavily spends on the development of wind power plants to meet the national energy demand. The objective of this paper is to investigate wind power potential of Ennore site using wind data collected over a period of two years by three parameter Weibull distribution. The Weibull parameters are estimated using maximum likelihood, least square method and moment method and the accuracy is determined using R² and root mean square error values. The site specific capacity factor is calculated by the mathematical model developed by three parameter Weibull distribution at different hub heights above the ground level. At last, the wind energy economic analysis is carried out using capacity factor at 30 m, 40 m and 50 m height for different wind turbine models. The analysis showed that the site has potential to install utility wind turbines to generate energy at the lowest cost per kilowatt-hour at height of 50 m. This research provides information of wind characteristics of potential sites and helps in selecting suitable wind turbine.

• Environmental and Resource Economics Review
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• v.24 no.3
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• pp.551-572
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• 2015

Given the presence of global warming, the economic impact of climate changes on output sales has been discussed in the literature, but rarely with empirical evidences. In this present study, a simple log-model was employed to identify the economic impacts of weather changes in manufacturing and service sectors in Korea. For this empirical exercise, weather variables including the CDD (cooling degree days) and HDD (heating degree days) were computed using the Korea's meteorological records covering the period 1970-2012. According to estimation results, 26.7% (144 over 539) and 27.9% (64 over 229) of the manufacturing and service sectors, respectively, are found to be weather-sensitive.

• Economic and Environmental Geology
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• v.33 no.4
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• pp.283-293
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• 2000

A set of geophysical survey results over an area in Bookil-myun, Chungwon-Gun, Chungcheongbuk-Do is presented; resistivity logging, d.c. sounding, dipole-dipole resistivity, and controlled-source magnetotelluric (CSMT) surveys. These surveys were chosen in this research for the estimation of the basement depth and the delineation of the hydrogeologic structure over the survey area. The results provide an optimal input to a hydrogeologic modeling analysis using the strategies built in GIS software. A total of 14 lines of dipole-dipole resistivity surveys, 25 stations of d.c. sounding and 6 stations of CSMT sounding were performed. In addition 10 boreholes were chosen for resistivity logging to correlate the logs to the surface data. A quantitative information on the hydrogeologic structure over the area is provided by synthesizing the results from various geophysical data and attribute layers are constructed by utilizing a GIS software Arc/ Info. The constructed layers match well to the hydrogeologic structures, which were outlined from the drilling data. The methodology tested and adopted in this study would be useful for providing a more reliable input to the hydrogeologic model setup.

• Journal of Biosystems Engineering
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• v.26 no.4
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• pp.363-370
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• 2001

This study intended to estimate the willingness-to-pay amount by farmers for the automatic guidance technology of Combine. Contingent Valuation Method was employed for this estimation using survey data from 65 Combine using farmers. Based on the dichotomous choice model, farmers’willingness-to-pay for the automatic guidance technology was ranged from ￦4,772,000(median) to ￦5,268,000(mean). The estimated willingness-to-pay by the for the new technology was approximately one quarter of the average value based on the willingness-to-pay for the new technology was approximately one quarter of the average value of Combine in sample farms. This implies that there is an economic rationals for developing the new technology as long as it will be available with the cost less than the amount of estimated willingness-to-pay.

• Proceedings of the Korea Society for Simulation Conference
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• 2003.06a
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• pp.149-154
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• 2003

경제성장과 더불어 발생되는 환경오염물질 배출의 증가로 인해 이를 규제하려는 세계적인 동향이 강화되어 이러한 환경문제를 경제 내적인 문제로 발전하고 있다. 특히 전력부문에 있어서 여러 가지 투자대안들이 환경에 미치는 영향을 고려할 경우, 각 대안들이 전력을 생산하기 위해 필요한 비용은 사회적 비용을 고려치 않는 사적인 비용과 커다란 차이가 생길 수 있다. 이에 본 연구에서는 균등화발전 원가법으로 유연탄과 LNG화력 발전의 경제성을 분석하였는데. 환경 규제상황에서 발전원간 평가를 위해 저감설비 도입비용, 탄소세, 연료비 인상, 할인율 변동에 따른 경제성 비교를 통하여 유연탄 및 LNG발전의 발전원가를 컴퓨터 시뮬레이션에 의한 민감도 분석을 통해 비교하였다.

• Journal of the Korean Institute of Rural Architecture
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• v.8 no.2
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• pp.19-26
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• 2006

This study is purposed to a ripple effects of development of a golf course in rural area analyzed to site suitability, social impact of public opinions, and economical impact. And for study, it is setting up development model of gamaksan golf course in geochang-gun will be constructed. It is carried out those as follows;(1) it is, first of all, examined site suitability considering act and site factors, opinion of residence's, and development planning of geochang-gun;(2) it is, secondly, suggested to analyzed social-economic impacts in rual area;(3) it is, finally, established an alternative proposal for development of a golf course considering it's merits and faults. The result of study, A appropriateness of development planning in golf course is focused to 'regional planning integrated', 'educational program for It's', and 'development council committee' considering harmony of a specialist, residents, government employee, businessman for a identity of interests.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.48 no.5
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• pp.531-537
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• 1999

This paper presents the evaluaton procedures and the estimation model for DSM potential on commercial sector in Korea. In general, the evaluation process of the potential savings for DSM measures or programs consists of baseline electricity consumption forecast and potential evaluation such as technical potential(TP), economic potnetial(EP), and achievable potential(AP). A library of energy conservation measures applicable to each end-use or apparatus is developed, and energy savings and other factors are applied to the baseline demand estimates of consumption to produce potential savings estimates. The purpose of this paper is to establish the evaluation process of those DSM potential for commercial sector. In case study, we applied it to commercial sector for horizon years by end-use.

• East Asian Economic Review
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• v.20 no.4
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• pp.427-445
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• 2016

We review research using departures from the law of one price to measure the advent of globalization in Europe and Asia. In an application, we then study the role of distance and time in statistically explaining price dispersion across 32 Swedish towns for 19 commodities from 1732 to 1914. The resulting large number of relative prices (502,689) allows precise estimation of distance and time effects, and their interaction. We find an effect of distance that declines significantly over time, beginning in the 18th century, well before the arrival of canals, the telegraph, or the railway.