• The Journal of Society for e-Business Studies
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• v.9 no.4
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• pp.37-51
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• 2004

Many B2B electronic markets (EMs) are struggling to survive because they failed to attract enough participants. Thus reaching critical mass of participants is one of the key success factors for various types of EMs. The main purpose of this study is to investigate factors that lead MRO (maintenance, repair, and operating) suppliers to participate in private exchanges (PE), the buy-side EM. This paper introduces the characteristics of the PE according to the classification schemes introduced in previous studies about EM types. Literature is reviewed on suppliers' adoption of inter-organizational information systems focusing on EDI adoptions issues. Data analysis based on incomplete contract theory and the social exchange theory is then presented. The results of this study show that the number of suppliers and subsidy are factors that influence suppliers' participation in PEs. Nonsignificant results relating to trust imply that suppliers who are invited to participate in a PE do not expect their off-line relationships with the buyer to be transferred to the PE.

• Asia pacific journal of information systems
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• v.31 no.4
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• pp.527-542
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• 2021

The government-driven open data policies are on the rise to protect consumers from misunderstandings and monitor the companies. However, in contract-based industries such as insurance, the contract-inherent characteristics make information asymmetry between consumers and companies. Our paper focuses on insurance contracts where the contingency has high uncertainty of occurrence, and the clauses may incur high costs of reading. Given those contracts, we hypothesized that the contract's clear statement decreases customer dissatisfaction and lowers the number of complaints. To empirically support the claim, we collected customers' complaint documents of insurance companies and insurance contracts from 2005 until 2017. Our econometric models showed that clearer statements and words significantly reduce the complaints after controlling for firm-specific heterogeneity and time-specific heterogeneity. We identify that insurance companies' complaint ratio significantly differ depending on the insurance contract, including specific clauses and words.

• Korean Journal of Construction Engineering and Management
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• v.23 no.2
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• pp.65-75
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• 2022

On 11 June 2021, the Supreme Court ruled that the judgment of the lower court was justified for the subject case, that the plaintiff could assert the defendant's liability for default due to incomplete performance even though the warranty period for defects which stipulated in the particular condition of the contract has expired. In Korean civil law, the concurrent between the exclusion period for defect warranty and the extinctive prescription for default liability is conceded, since the exclusion period and the extinctive prescription have their respective purposes in law, therefore these two should be judged by harmonizing them based on that they are mutually related. If the subject judgment is generalized, there is no reason to exist for the provisions of defect liability in the construction contract any longer. This study examines the subject judgments through the general theory and precedent case studies on the defect liability and default liability, then derived any problems that may arise if the subject judgment is generalized. In addition, based on a realistic model, it was suggested for a practical improvement method that both the provisions of the warranty period shall be changed realistic and to stipulate the character of its nature as written provisions in the contract.

• Korean Journal of Cognitive Science
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• v.26 no.1
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• pp.69-96
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• 2015

This study investigates the history of economics for answering how the discipline originating from a sub-discipline of moral philosophy ended up being an amoral science. I show that economic theory, at its first stage of development, has retained a place in which morality could play a role within liberalist framework, but has removed the very place as it developed into its current image. I argue that it is the Walrasian paradigm that completed this amoralizing process in economics. One theoretical assumption of complete contract in the Walrasian paradigm, creates the institutional environment where economic agents are free from any moral consideration. I show that if the assumption is relaxed, the problem of economic agents' morality should reappear in the stage. Accepting the assumption of incomplete contract opens a way to restore the room for economic agents' moral considerations in economic discourses. Finally I breifly survey the recent discussions on the role of sympathy in economics.

• Tunnel and Underground Space
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• v.13 no.2
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• pp.87-99
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• 2003

Geostatistics is defined as the theory of modeling of regionalized variables and is an efficient and elegant methodology for estimation and uncertainty evaluation from limited spatial sample data. In this study, we have made a theoretical comparison between kriging estimation and geostatistical simulation methods. Kriging methods do not preserve the histogram of original data nor their spatial structure, and also provide only an incomplete measure of uncertainty when compared to the simulation methods. A practical procedure of geostatistical simulation is suggested in this study and the technique is demonstrated through an application, in which it was used to identify the spatial distribution of RMR as well as to evaluate the spatial uncertainty. It is concluded that the geostatistical simulation is the appropriate method to quantify the spatial uncertainty of geotechnical variables such as RMA. Therefore, the results from the simulation can be used as useful information for designer's considerations in decision-making under various geological conditions as well as the related terms of contract.