• 대한산업공학회지
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• 제41권2호
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• pp.150-161
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• 2015

This paper proposes a new approach to technology valuation, the market-replacement cost approach which integrates the cost-based approach and market-based approach. The proposed approach estimates the market-replacement cost of a target technology using R&D costs of similar R&D projects previously conducted. Similar R&D projects are extracted from project database based on document similarity between project proposals and technology description of the target technology. R&D costs of similar R&D projects are adjusted by mirroring the rate of technological obsolescence and inflation. Market-replacement cost of the technology is then derived by calculating the weighted average of adjusted costs and similarity values of similar R&D projects. A case of "Prevention method and system for the diffusion of mobile malicious code" is presented to illustrate the proposed approach.

• 한국철도학회:학술대회논문집
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• 한국철도학회 2000년도 추계학술대회 논문집
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• pp.68-76
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• 2000

Reliable external cost must be estimated to achieve the optimal market share between transportation modes. In this paper, we determined the market share between railroad and road on the cost minimization base. The results show that optimal market share is achieved by increasing investment on railroad.

• Communications for Statistical Applications and Methods
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• 제27권6호
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• pp.689-699
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• 2020

This study investigates the effect of life settlement on the monopolistic insurance market. In particular, we consider liquidity cost, which is the cost incurred to the insurer to meet the request of surrender, and trading cost, which is the transaction cost of the policyholders for the settlement. We first show that the introduction of a life settlement can increase insurance demand and enhance consumer welfare even when the trading cost is higher than the liquidity cost. That is, even if the settlement market is less efficient than the insurance market, both insurance demand and consumer welfare can be increased. Second, the insurer's profit can also be increased when settlement is introduced because not only can the insurer save the liquidity cost but also the demand of insurance increases. Lastly, insurance demand does not always decrease when both costs increase. Depending on the population distribution over the liquidity risk, the demand of insurance can be increased or decreased.

• 대한전기학회논문지:전력기술부문A
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• 제55권5호
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• pp.214-219
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• 2006

Oligopoly differs from perfect competition and monopoly in that a firm must consider rival firms' behavior to determine its own best policy. This interrelationship among firms is the issue examined in this paper. In the oligopoly market, the complete information market means that each producer has full information about itself, the market, and its rivals. That is, each producer knows the market demand function, its own cost function and the cost functions of rivals. On the other hand, the incomplete information market means that in general each producer lacks full information about the market or its rivals. Here, we assume that each firm doesn't know the cost functions and the strategic biddings of its rivals. The main purpose of this paper is to analyze firm' strategic behaviors and equilibrium in an electricity market with incomplete information. In the case study, the complete information market and the incomplete market are compared at the Nash Equilibrium from the viewpoints of market price, transaction quantities, consumer benefits, and Social Welfare.

• 한국IT서비스학회지
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• 제21권4호
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• pp.1-26
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• 2022

Recently, the number of cases of purchasing food online has been increased, especially in the open market. Therefore, we examined the characteristics of status quo bias and switching costs in the open market. Also, in this study, the causal relationship between the characteristics of status quo bias and switching costs, switching costs and switching intention in the open market was investigated. The analysis result consists of four parts as follows. First, in the open market, rational decision making, which belongs to the characteristics of status quo bias, was found to have a positive (+) effect on time switching cost among switching costs, but did not have a positive (+) effect on economic and psychological switching cost. Second, cognitive misperceptions was consistent with the assumption that it have a positive (+) effect on all of the economic, time, and psychological switching cost, which are switching costs in the open market. Third, psychological commitment was found to have a positive (+) effect on economic and time switching cost among switching costs, but did not have a positive (+) effect on psychological switching cost. Fourth, psychological switching cost, which belongs to switching costs in the open market, was found to have a negative (-) effect like the hypothesis set in switching intention. However, it was found that economic and time switching cost did not have a negative (-) effect on switching intention. This study subdivided the switching costs into three dimensions and compared the degree of influence on the switching intention, and the degree of influence was different for each dimension. Therefore, it was found that when switching from the existing open market to the new open market, it is not possible to simply judge that the switching costs directly has a negative (-) effect on the switching intention or does not.

• 한국건축시공학회:학술대회논문집
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• 한국건축시공학회 2014년도 추계 학술논문 발표대회
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• pp.98-99
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• 2014

Construction equipment cost is critical to estimate the total construction costs, particularly in large and complicated projects. Despite its importance, the construction equipment cost may not reflect the current market value since the equipment database is being updated every 6 years at most. To keep construction equipment cost up to date, it is highly recommended to use the standard market price that is reported each year by the Ministry of Security and Public Administration (MOSPA). However, there is still a gap to adopt the standard market price system for the construction equipment cost computing system. Therefore, this paper suggests an effective way to develop a construction equipment cost estimation system.

• 한국항공운항학회지
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• 제14권2호
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• pp.45-55
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• 2006

Air transportation industry becomes more competitive because that the restrictions on new access to market were eased and related enough for each airline to choose the freight rate and the route without rein. New competitors are pursuing convergence strategy which focuses on low freight rate as a niche strategy for increasing market share by stimulating low cost demand. This strategy is now spreading all over the world such places as Europe, Asia, Oceania and etc. As of December 1, 2004, hundreds of low cost carriers are participating actively in the market and finding their level as a new strategic group in the air transportation industry with expanding their market. In case of USA, however, many airlines, which had newly entered to the market, went into bankruptcy in the mid-1980s. People Express in USA established in 1980 is one of the examples of failure. In case of Japan, Hokkaido International Airline, a typical low cost carrier which established in 1997, filed for bankruptcy. This study is for examining the strategic implication closely through the study on management strategy and cases of failure of low cost carriers.

• 한국IT서비스학회지
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• 제8권3호
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• pp.67-81
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• 2009

This study aims to test the valur relevance of development cost particularly focusing on IT firms of KOSDAQ. Test period is from 2005 to 2007 and the samples are 2,271 year-firms including 1,692 firms that reported development cost in financial statements. The basic test model is a modified Ohlson(1995)'s linear model. The empirical results show that there is the negative relation between stock price and development cost reported as asset. It means that development costs reported as asset is considered as expense in the market. It implies that development activities of KOSDAQ IT firms is not related to market-leading technologies or goods. Otherwise it might reflect the conservative valuation of market on the unstability of KOSDAQ market itself.

• Journal of Electrical Engineering and Technology
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• 제7권4호
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• pp.468-479
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• 2012

In this paper, by a simple example it is shown that existing market-based criteria alone cannot completely and correctly evaluate the transmission network expansion from market view. However criteria congestion cost (CC) and social welfare (SW) together are able to correctly evaluate transmission network from market view and so they are adopted for the market-based transmission expansion planning. To simply indicate the limits of CC and SW social welfare percentage (SWP) and congestion cost percentage (CCP) are defined. To consider uncertainty in bids of market producers and consumers, and also indeterminacy in the acceptable boundaries of the SWP and CCP and their priorities, fuzzy assessment approach is used. In this approach, appropriate fuzzy sets and a fuzzy rule base are provided to evaluate the acceptability of an expansion plan. Then, the least-investment cost plan, which is acceptable in all probable scenarios, is searched. The proposed method is applied to an 8-bus system.

• 전기학회논문지
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• 제57권4호
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• pp.576-581
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• 2008

Electricity Market in Korea can't provide locational price signal through energy price because energy market is CBP(Cost Based Pool) using uniform price. Generators don't want to locate in a densely populated load area(like the metropolitan area). Because they are paid more fixed cost in metropolitan area. This situation has loss and congestion occurred in power system. However energy market without price signal can't lead generator to the metropolitan. So, market participants should be provided price signal through the transmission price instead of energy price. This paper proposes transmission pricing method considering reliability cost in order to offer price signal. Also, it proposes the method to allocate the transmission cost to each transmission line user through a fair and a reasonable manner. The transmission price is decided by the reliability value of each line. If a transmission line of high reliability value is broke, users using that line will get a loss and a discomfort. So, it is fair that users using a transmission line of high reliability value pay more than the other users. Also, it is reasonable that a transmission line owner get paid more form users using that line.