• Title/Summary/Keyword: Economic loss

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Economic Analysis of Installing Fixed and Removable Insulation for Pipe Wall Thinning Management (배관감육 관리를 위한 고정식 및 탈착식 보온재 설치 경제성 분석)

  • Hwang, Kyeongmo;Yun, Hun
    • Corrosion Science and Technology
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    • v.15 no.6
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    • pp.320-325
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    • 2016
  • To perform ultrasonic testing (UT) thickness measurement of the secondary side piping installed in nuclear power plants, the insulation for preventing heat loss should be removed. The type of insulation can be divided into fixed and removable insulation. Fixed and removable insulation have their own strengths and weaknesses. Removable insulation has been installed in the components susceptible to wall thinning caused by FAC and erosion from Shin-Kori unit 1, which commenced its commercial operation in 2011. In this paper, the number of repeated inspections of components and the number of replacements of fixed insulation were estimated and a more economical way was identified based on the manufacturing and installation costs for fixed and removable insulation.

A determination of economic control limits considering process deterioration (공정의 열화를 고려한 경제적 관리한계 결정)

  • 심윤보;김성집
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.21 no.45
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    • pp.237-246
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    • 1998
  • In most statistical process control(SPC), control charts are used in which samples are taken and a suitable statistic is determined and plotted. In these control charts, control limits, ${\mu}{\pm}textsc{k{\sigma}}$, from which a decision is made are mostly ${\mu}{\pm}3{\sigma}$ and current literature in control charts are mainly concerned with detecting a shift in the mean. Therefore, when $\sigma$ is increased considerably after a long time, using control limits set at the first time causes a great deal of economic loss. In this paper the solutions to determine new control limits which maximizes the profit per unit produced and reduce $\sigma$ to economically optimal level for a certain cost when $\sigma$ is increased due to process deterioration are proposed. By applying new control limits, $\alpha$ error decreases considerably compared to apply initial control limits when $\sigma$ is increased due to process deterioration. Therefore, false alarm investigation cost drops down to the level of initial a error. And also this solution provides useful information regarding replacement of a process when the process is reviewed regularly.

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The Study of Improvement in Reactor Thermal Power Measurement Method using KALMAN FILTER (KALMAN FILTER를 이용한 원자로 열출력측정 방법개선에 관한 고찰)

  • 정남교
    • Journal of the Korean Professional Engineers Association
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    • v.30 no.5
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    • pp.82-95
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    • 1997
  • A Study of Improvement in Reactor Thermal Power Measurement Method using Kalman Filter. The objectives of the safety analysis of nuclear power plants are to maintain the surface temperature of fuel and fuel cladding within limit value in case of Loss of Coolant accident (LOCA) so that it ensures the safety and reliability of nuclear power plants. The new technique evaluating the reactor power and improvement of existing plant system increase the safety margin of nuclear power plant operation, and accordingly, economic effect will be anticipated. Hereby, 1 would like to introduce reactor power measurement method using Kalman filter that enables to calculate the reactor power more precisely combining the parameters, for example, turbine output as the 1 st stage pressure of high pressure turbine, and reactor power using energy equilibrium relation. It is expected that the new technique will enhance the accuracy of measurement of reactor power and maintain the reliability of nuclear power operation by increasing operational safety margin, and gain the economic benefit

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Transmission Pricing in consideration of loss property of groups of generator and load (발전사업자와 부하사업자의 손실특성을 고려한 송전비용산정기법에 관한 연구)

  • Kim, Kang-Won;Chung, K.H.;Shin, Y.G.;Kim, Bal-Ho H.
    • Proceedings of the KIEE Conference
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    • 2003.11a
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    • pp.460-462
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    • 2003
  • One of many elements considered important is TR-Cost in restructed electrical power market. KEMA supposed the TR-Cost system which involved an allocation rate of groups of generator and load as 5 to 5 but it isn't based on electrical and economic theory. Also there is a defect that we cann't calculate each allocation to numerous members forming the group of generators and loads. Therefore, in this paper, we propose an allocation method by using "generator forcused TR MLF" & "load forcused TR MLF" in consideration of economic signal.

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A Geochemical Study on the Alunite Zone of the Nohwa Pyrophyllite Deposits (노화납석광산에서 산출되는 명반석대에 대한 지구화학적 연구)

  • Shin, Sang Eun;Park, Hong Bong
    • Economic and Environmental Geology
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    • v.25 no.4
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    • pp.373-378
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    • 1992
  • Ores of the Nohwa Pyrophyllite Deposits are composed mainly of pyrophyllite, kaolinite (dickite), quartz, pyrite, alunite and diaspore, etc. Alunite ore zone is located in the middle-lower parts of the deposits. Alunite ore zone with thickness of 20~30 cm is divided into two parts according to alunite contents: reddish and white greyish zone in the upper and lower parts, respectively. And the reddish alunitic ore has higher contents $Al_2O_3$, $K_2O$, $Na_2O$ and Ig.loss than the white greyish alunitic ore. Perhaps alunitization of the deposits occurred in the vicinity of paleo-ground water table. EPMA data shows that sodium replaces potassium considerably in alunite structures and that the hydrothermal solution probably contains considerable amounts of sodium.

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A Study on Enhancing the Load Power Factor from the Point of View of Economic Operation Using the Load Power Factor Sensitivity Method (부하역률 감도기법 적용에 의한 전력시스템의 경제운용 측면에서의 역률개선 방안 연구)

  • Lee B. H.;Kim J. H.
    • Proceedings of the KIEE Conference
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    • summer
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    • pp.153-155
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    • 2004
  • Various problems such as the increase of the power loss and the voltage instability may often occur in the case of low load power factor. The demand of reactive power increases continuously with the growth of active power and the restructuring of electric power companies makes the integrated management of ractive power a troublesome problem, so that the systematic control of load power factor is required. In this paper, the load power factor sensitivity of the generation cost is used for determining the locations of reactive power compensation devices effectively and for enhancing the load power factor appropriately. In addition, the integrated costs are used for determining the value of the load power factor from the point of view of the economic operation. It is shown through the application to a large-scale power system that the system power factor can be enhanced effectively and appropriately using the load power factor sensitivity and integrated costs.

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High-Skilled Inventor Emigration as a Moderator for Increased Innovativeness and Growth in Sending Countries

  • Kim, Jisong;Lee, Nah Youn
    • East Asian Economic Review
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    • v.23 no.1
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    • pp.3-26
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    • 2019
  • This study investigates the effect of high-skilled inventor emigration rate on growth rate of the country of origin (COO). Inventor emigrants represent the human capital that can generate highly innovative work. The social network they form spurs knowledge diffusion and technology transfer back to their COOs, which in turn affects innovation and growth in their home countries. We run dynamic panel estimation for 154 countries during 1990-2011, and empirically show that a positive and statistically significant effect exists for the interaction of inventor emigration and trade. The result indicates that the direct negative impact of the brain drain can be mitigated by the positive feedback effect generated by the high-skilled inventor emigrants abroad. When coupled with an active trade policy that reinforces growth, countries can partially recoup the direct effect of the human capital loss. We stress the importance of international trade for successful technology transfer to occur, and offer insights for policies that can utilize the benefits of the rich social network of their high-skilled emigrants.

Fiscal Policy and Redistribution in a Small Open Economy with Aging Population

  • Jung, Yongseung
    • East Asian Economic Review
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    • v.25 no.4
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    • pp.361-401
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    • 2021
  • This paper sets up a two agent small open economy with monopolistically competitive firms and catching up with the Joneses to investigate the labor and capital Laffer curve, taking into account aging population along the line of Auray et al. (2016), Galí and Monacelli (2005), and Trabandt and Uhlig (2011). The paper finds that the higher the market power of firms is, the larger the consumption inequality between asset holders and non-asset holders is in the economy with aging population. It also finds that there is room for government to increase the tax revenue by raising tax rates under the economy with higher markup, as households will work more hours to compensate for their loss of labor income to tax hikes. The expected maximum tax revenue is likely to shrink with progressive taxations, since non-asset holders with additional dividend income work less and consume more. The paper finds that the fiscal multiplier decreases with the degree of progressive redistribution.

Economic Injury Levels and control threshold of Tetranychus kanzawai Kishida(Acari, Tetranychidae) Infesting Korean black raspberry (Rubus coreanus Miquel) (복분자딸기에서 차응애의 경제적피해수준 및 방제수준)

  • Lim, Ju-Rak;You, Jin;Lee, Ki-Kwon;Hwang, Chang-Yeon
    • Korean journal of applied entomology
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    • v.50 no.2
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    • pp.151-156
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    • 2011
  • Economic injury levels (EILs) and economic control threshold (ET) were estimated for the Tea red spider mite, Tetranychus kanzawai Kishida(Acari, Tetranychidae) in Rubus coreanus Miquel. T. kanzawai density increased until the early-July and thereafter decreased in all plots except the non-innoculation plot where initial density of the mite were different each 0, 5, 10, 20 and 40 adults per plant branch on May 7 in 2008. And the occurrence of the densities were increased higher innoculated density than different innoculation density. The yield was decreased with increasing initial mite density and thereby the rates of yield loss was increased with increasing initial mite density. And T. kanzawai occurrence density, yields and the rates of yield loss, where initial density of the mite were different each 0, 2, 5, 10 and 20 adults per plant branch on May 8 in 2009 were similar tendency to 2008 year results. The relationship between initial T. kanzawai densities and the yield losses was well described by a linear regression, Y = 0.6545X + 3.0425 ($R^2$ = 0.93) in 2008, Y = 0.9031X + 2.0899($R^2$ = 0.96) in 2009. Based on the relationship, the number of adults per plant branch(EILs) which can cause 5% loss of yield was estimated to be approximately 3.0 in 2008 and 3.2 in 2009. And the ET was estimated to be approximately 2.4 in 2008 and 2.6 in 2009. The relationship between initial T. kanzawai densities and occurrence density of mid-May considering the best spray timing against T. kanzawai was well described by a linear regression, Y = 0.471X + 2.495($R^2$ = 0.95) in 2008, Y = 0.9938X + 3.1858($R^2$ = 0.96) in 2009. Based on the relationship, the number of adults per leaf(ET) in mid-May which can cause 5% loss of yield was estimated to be approximately 3.6 in 2008 and 5.8 in 2009.

Factor Analysis Affecting on Chartering Decision-making in the Dry Bulk Shipping Market (부정기 건화물선 시장에서 용선 의사결정에 영향을 미치는 요인 분석)

  • Lee, Choong-Ho;Park, Keun-Sik
    • Journal of Korea Port Economic Association
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    • v.40 no.1
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    • pp.151-163
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    • 2024
  • This study sought to confirm the impact of analytical methods and behavioral economic theory factors on decision-making when making chartering decisions in the dry bulk shipping market. This study on chartering decision-making model was began to verify why shipping companies do not make rational decision-making and behavior based on analytical methods such as freight prediction and process of alternative selection in the same market situation. To understand the chartering decision-making model, it is necessary to study the impact of behavioral economic theory such as heuristics, loss aversion, and herding behavior on chartering decision-making. Through AHP analysis, the importance of the method factors relied upon in chartering decision-making. The dependence of the top factors in chartering decision-making was in the following order: market factors, heuristics, internal factors, herding behavior, and loss aversion. Market factors, heuristics, and internal factors. As for detailed factors, spot freight index and empirical intuition were confirmed as the most important factors relied on when making decisions. It was confirmed that empirical intuition is more important than internal analysis, which is an analytical method. This study can be said to be meaningful in that it academically researched and proved the bounded rationality of humans, which cannot be fully rational, and sometimes relies on experience or psychological tendencies, by applying it to the chartering decision-making model in the dry bulk shipping market. It also suggests that in the dry bulk shipping market, which is uncertain and has a high risk of loss due to decision-making, the experience and insight of decision makers have a very important impact on the performance and business profits of the operation part of shipping companies. Even though chartering are a decision-making field that requires judgment and intuition based on heuristics, decision-makers need to be aware of this decision-making model in order to reduce repeated mistakes of deciding contrary to market situation. It also suggests that there is a need to internally research analytical methods and procedures that can complement heuristics such as empirical intuition.