• The Journal of Industrial Distribution & Business
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• v.9 no.10
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• pp.83-89
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• 2018

Purpose - The purpose of this study examines when the optimism impact on financial asset price forecasting and the boundary condition of optimism in the financial asset price forecasting. People generally tend to optimistically forecast their future. Optimism is a nature of human beings and optimistic forecasting observed in daily life. But is it always observed in financial asset price forecasting? In this study, two factors were focused on considering whether the optimism that people have applied to predicting future performance of financial investment products (e.g., mutual fund). First, this study examined whether the degree of optimism varied depending on the direction of the prior price trend. Second, this study examined whether the degree of optimism varied according to the forecast period by dividing the future forecasted by people into three time horizon based on forecast period. Research design, data, and methodology - 2 (prior price trend: rising-up trend vs falling-down trend) × 3 (forecast time horizon: short term vs medium term vs long term) experimental design was used. Prior price trend was used between subject and forecast time horizon was used within subject design. 169 undergraduate students participated in the experiment. χ² analysis was used. In this study, prior price trend divided into two types: rising-up trend versus falling-down trend. Forecast time horizon divided into three types: short term (after one month), medium term (after one year), and long term (after five years). Results - Optimistic price forecasting and boundary condition was found. Participants who were exposed to falling-down trend did not make optimistic predictions in the short term, but over time they tended to be more optimistic about the future in the medium term and long term. However, participants who were exposed to rising-up trend were over-optimistic in the short term, but over time, less optimistic in the medium and long term. Optimistic price forecasting was found when participants forecasted in the long term. Exposure to prior price trends (rising-up trend vs falling-down trend) was a boundary condition of optimistic price forecasting. Conclusions - The results indicated that individuals were more likely to be impacted by prior price tends in the short term time horizon, while being optimistic in the long term time horizon.

• Journal of the Korean Society for Aviation and Aeronautics
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• v.25 no.4
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• pp.124-129
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• 2017

Clouds are an important factor in aircraft flight. In particular, a significant impact on small aircraft flying at low altitude. Therefore, we have verified and characterized the low level cloud prediction data of the Unified Model(UM) - based Local Data Assimilation and Prediction System(LDAPS) operated by KMA in order to develop cloud forecasting service and contents important for safety of low-altitude aircraft flight. As a result of the low level cloud test for seven airports in Korea, a high correlation coefficient of 0.4 ~ 0.7 was obtained for 0-36 leading time. Also, we found that the prediction performance does not decrease as the lead time increases. Based on the results of this study, it is expected that model-based forecasting data for low-altitude aviation meteorology services can be produced.

• Asia pacific journal of information systems
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• v.7 no.1
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• pp.67-83
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• 1997

The utility of learning techniques in investment analysis has been demonstrated in many areas, ranging from forecasting individual stocks to entire market indexes. To date, however, the application of artificial intelligence to financial forecasting has focused largely on short predictive horizons. Usually the forecast window is a single period ahead; if the input data involve daily observations, the forecast is for one day ahead; if monthly observations, then a month ahead; and so on. Thus far little work has been conducted on the efficacy of long-term prediction involving multiperiod forecasting. This paper examines the impact of alternative procedures for extended prediction using knowledge discovery techniques. One dimension in the study involves temporal granularity: a single jump from the present period to the end of the forecast window versus a web of short-term forecasts involving a sequence of single-period predictions. Another parameter relates to the numerosity of input variables: a technical approach involving only lagged observations of the target variable versus a fundamental approach involving multiple variables. The dual possibilities along each of the granularity and numerosity dimensions entail a total of 4 models. These models are first evaluated using neural networks, then compared against a multi-input jump model using case based reasoning. The computational models are examined in the context of forecasting the S&P 500 index.

• International Journal of Computer Science & Network Security
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• v.21 no.2
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• pp.77-87
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• 2021

In this study, a novel improved second order Radial Basis Function Neural Network based method with excellent scheduling capabilities is used for the dynamic prediction of short and long-term energy required applications. The effectiveness and the reliability of the algorithm are evaluated using training operations with New England-ISO database. The dynamic prediction algorithm is implemented in Matlab and the computation of mean absolute error and mean absolute percent error, and training time for the forecasted load, are determined. The results show the impact of temperature and other input parameters on the accuracy of solar Photovoltaic load forecasting. The mean absolute percent error is found to be between 1% to 3% and the training time is evaluated from 3s to 10s. The results are also compared with the previous studies, which show that this new method predicts short and long-term load better than sigmoidal neural network and bagged regression trees. The forecasted energy is found to be the nearest to the correct values as given by England ISO database, which shows that the method can be used reliably for short and long-term load forecasting of any electrical system.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2008.10a
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• pp.444-447
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• 2008

This study is intended to develop a improved version of Cross Impact Analysis Model based on Scaling Theory. In developing the model, we applied the scale transformation technique and regression technique to existing CIA model. Improved CIA model is composed of two sub-models: 'model for impact value measurement,' and 'model for impact value conversion'. We applied a technique which measures data by ordinal scale and then transforms them into interval scale and ratio scale data to CIA model. The accuracy of forecasting and the usability of CIA application have been improved.

• Atmosphere
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• v.30 no.2
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• pp.195-207
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• 2020

This study aims to introduce the structure of the impact-based heat health warning system on 165 counties in South Korea developed by the National Institute of Meteorological Sciences. This system was developed using the daily maximum perceived temperature (PTmax), which is a human physiology-based thermal comfort index, and the Local ENSemble prediction system for the probability forecasts. Also, A risk matrix proposed by the World Meteorological Organization was employed for the impact-based forecasts of this system. The threshold value of the risk matrix was separately set depending on regions. In this system, the risk level was issued as four levels (GREEN, YELLOW, ORANGE, RED) for first, second, and third forecast lead-day (LD1, LD2, and LD3). The daily risk level issued by the system was evaluated using emergency heat-related patients obtained at six cities, including Seoul, Incheon, Daejeon, Gwangju, Daegu, and Busan, for LD1 to LD3. The high-risks level occurred more consistently in the shorter lead time (LD3 → LD1) and the performance (r_s) was increased from 0.42 (LD3) to 0.45 (LD1) in all cities. Especially, it showed good performance (r_s = 0.51) in July and August, when heat stress is highest in South Korea. From an impact-based forecasting perspective, PTmax is one of the most suitable temperature indicators for issuing the health risk warnings by heat in South Korea.

• Journal of the Korean Association of Geographic Information Studies
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• v.20 no.3
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• pp.42-51
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• 2017

Snowfall is an important natural hazard in Korea. In recent years, the socioeconomic importance of impact-based forecasts of meteorological phenomena have been highlighted. To further develop forecasts, we first need to analyze the climatic characteristics of each region. In this study, homogeneous regions for snowfall analysis were classified using a self-organizing map for impact-based forecast and warning services. Homogeneous regions of snowfall were analyzed into seven clusters and the characteristics of each group were investigated using snowfall, observation days, and maximum snowfall. Daegwallyeong, Gangneung-si, and Jeongeup-si were classified as areas with high snowfall and Gyeongsangdo was classified as an area with low snowfall. Comparison with previous studies showed that representative areas were well distinguished, but snowfall characteristics were found to be different. The results of this study are of relevance to future policy decisions that use impact-based forecasting in each region.

• Journal of Environmental Impact Assessment
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• v.18 no.5
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• pp.271-280
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• 2009

The objective of this study is to develop a reliable flow forecasting model based on neural network algorithm in order to provide flow rate at stream sections without flow measurement in Nakdong river. Stream flow rate measured at 8-days interval by Nakdong river environment research center, daily upper dam discharge and precipitation data connecting upstream stage gauge were used in this development. Back propagation neural network and multi-layer with hidden layer that exists between input and output layer are used in model learning and constructing, respectively. Model calibration and verification is conducted based on observed data from 3 station in Nakdong river.

• Journal of Technology Innovation
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• v.31 no.2
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• pp.173-214
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• 2023

Investments in new technologies have grown significantly in size, and science and technology have a large and complex impact on society at large. With people's great interest in technology, the government has the duty to accurately assess the influence of new technologies on society to facilitate their acceptance in society. For this purpose, technology impact assessment should be performed to facilitate a social consensus. There has been research on the initial methods of technology assessment for 50 years. Following various academic studies and discussions based on numerous new technology response policies, coupled with the examination of trends and changes over time, academia and policymakers around the world have paid attention to the multilateral analysis of the impact of new technologies on future society. This study focuses on research changes such as the stage of forecasting factors that should consider the technology assessment of new technologies, despite differences between the development methods for the assessment between developed countries and South Korea. The analysis yielded three factors of technological understanding of awareness, professionalism, and gender characteristics, in addition to a previously identified factor. The three factors are then suggested as forecasting factors for new technology. The findings of this study provide both academic and policy evidence for technology assessment based on the country's Framework Act on Science and Technology.

• Atmosphere
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• v.21 no.4
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• pp.391-404
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• 2011

This study investigates the impact of cumulus parameterization scheme (CPS) with different horizontal grid sizes on the simulation of the local heavy rainfall case over the Korean Peninsula. The Weather Research and Forecasting (WRF)-based real-time forecast system of the Joint Center for High-impact Weather and Climate Research (JHWC) is used. Three CPSs are used for sensitivity experiments: the BMJ (Betts-Miller-Janjic), GD (Grell-Devenyi ensemble), and KF (Kain-Fritsch) CPSs. The heavy rainfall case selected in this study is characterized by low-level jet and low-level transport of warm and moist air. In 27-km simulations (DM1), simulated precipitation is overestimated in the experiment with BMJ scheme, and it is underestimated with GD scheme. The experiment with KF scheme shows well-developed precipitation cells in the southern and the central region of the Korean Peninsula, which are similar to the observations. All schemes show wet bias and cold bias in the lower troposphere. The simulated rainfall in 27-km horizontal resolution has influence on rainfall forecast in 9-km horizontal resolution, so the statements on 27-km horizontal resolution can be applied to 9-km horizontal resolution. In the sensitivity experiments of CPS for DM3 (3-km resolution), the experiment with BMJ scheme shows better heavy rainfall forecast than the other experiments. The experiments with CPS in 3-km horizontal resolution improve rainfall forecasts compared to the experiments without CPS, especially in rainfall distribution. The experiments with CPS show lower LCL(Lifted Condensation Level) than those without CPS at the maximum rainfall point, and weaker vertical velocity is simulated in the experiments with CPS compared to the experiments without CPS. It means that CPS suppresses convective instability and influences mainly convective rainfall. Consequently, heavy rainfall simulation with BMJ CPS is better than the other CPSs, and even in 3-km horizontal resolution, CPS should be applied to control convective instability. This conclusion can be generalized by conducting more experiments for a variety of cases over the Korean Peninsula.