• Title/Summary/Keyword: Market Efficiency

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인터넷이 시장의 효율성을 증가시키는가? (Does Internet Increase the Market Efficiency?)

  • 이호근;이란희
    • 경영정보학연구
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    • 제3권1호
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    • pp.3-18
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    • 2001
  • The Internet is taking up every single life of us with a huge speed of growth. If the ideal market called 'perfect competition' in economics will ever come true in this digital world, the sellers won't be able to have monopolistic profits above the marginal cost any more, letting the resource allocation much more efficient. This paper attempts to test whether this theory is true in e-market as well through observing price differences between online and offline retailers of extremely homogeneous products, CDs. Since most results from previous research were supporting the inefficiency of e-market in price level, price adjustment, and especially price dispersion, this article designed the research methodology most carefully. The results of pervious works are partly due to the immaturity of the Internet market or due to the uniqueness of the American CD market, where oligopolistic market players are significantly dominant. The analysis of price data of 20 titles from 20 retailers for five weeks supports that online market is more efficient than offline market with statistical significance in all the three dimensions. We could conclude that the e-market is going much more efficient at least compared to the offline market and the more would it be unless the sellers resist and prevent comparison-shopping.

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경쟁적 전력시장 하에서의 선행급전계획 알고리즘 개발에 관한 연구 (Development of the Pre-Dispatch Scheduling Algorithm in the Competitive Electricity Market)

  • 정구형;강동주;김발호
    • 전기학회논문지
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    • 제56권2호
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    • pp.260-267
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    • 2007
  • Systematic studies on the dispatch scheduling algorithm can enhance the efficiency of electricity market operation. In addition, as the dispatching policies in competitive electricity markets directly affect the market participants' profits, the dispatch scheduling procedure should be reasonable, systematic, and transparent. In this paper, we propose an unconstrained/constrained pre-dispatch scheduling algorithm and develop corresponding programs applicable to wholesale electricity markets.

종합전문병원 간호사 확보수준에 영향을 미치는 요인 (Analysis of the factors that influence on the RN staffing level in the Specified general Hospitals)

  • 김윤미
    • 간호행정학회지
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    • 제6권1호
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    • pp.147-159
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    • 2000
  • This paper studied the factors that influence on RN staffing level in the 43 Specialized general hospitals. Market structure was analysed using the monopsony model. The degree of competition was estimated by Herfindal Index and market was defined as Great medical zone. As the result of the estimation, in the more competitive hospital market hospitals employed the higher level of RN staffing, so monopsony model was supported. Hospitals with above 1001bed employed more RN than hospitals with below 700bed did. Hospital type, hospital union and the number of medical doctor did not affect the level of RN staffing. There was positive correlation between the level of RN staffing and the number of nurse's aid. The structure of RN market in Specified general hospitals was proved monopsony market, it seems that government regulation will be needed to improve social efficiency and equity.

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고용보호규제 완화의 노동시장 성과에 대한 효과

  • 최경수
    • KDI Journal of Economic Policy
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    • 제24권1호
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    • pp.45-112
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    • 2002
  • Enhancing labor market flexibility is currently posted as one of the major economic policy objectives in Korea. However, the labor market effects of specific policies to achieve it have not been sufficiently investigated. This paper takes up the issue of employment protection deregulation and surveys and empirically analyzes its policy effects. Academic researches generally confirm that deregulation tends to promote labor turnover and employment of the disadvantaged groups such as the youth and female by raising the overall efficiency of the economy, but its effects on unemployment is not clear. In the Korean labor market, both job creation and destruction, and labor mobility have increased after the economic crisis of 1998, but they can not be seen as deregulation effects as the changes are confined to the temporary and daily employment whose labor markets are least regulated whereas the regular employment market remains virtally unchanged. Such results suggest that labor market deregulation need to be pursued consistently as a policy goal since the labor demand condition shift and the need for expanding regular employment necessitates it, for which detailed policy agenda for removing market inefficiencies should be carefully arranged.

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Copyright Royalty Regulation and Competition in the Music Retail Market

  • YANG, YONG HYEON
    • KDI Journal of Economic Policy
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    • 제39권1호
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    • pp.83-102
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    • 2017
  • Price control can restore efficiency in some cases, but an uncarefully designed policy fails to restore efficiency, yields side effects, or even exacerbates efficiency losses. This paper shows that the copyright royalty rule, which takes the greater of ad valorem royalties and perunit royalties, tends to fix the prices of final goods at a specific level. Such a rule weakens competition as it prevents prices from decreasing even when market conditions change, having negative effects on social welfare as well as consumer surplus. Counterfactual analyses using estimation results in the Korean online music service industry show that firms could have profitably reduced prices if the ad valorem rule had been applied instead, although they did not have an incentive to do so under the original combination rule.

한국 지역노동시장에서의 일자리 미스매치에 관한 연구 - 확률변경생산함수를 이용한 결합 효율성 분석 - (Job Mismatch in Korean Regional labor Market: Matching Efficiency Analysis using Stochastic Production Frontier Approach)

  • 양준석;전용일
    • 한국경제지리학회지
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    • 제15권4호
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    • pp.752-765
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    • 2012
  • 본 연구는 확률변경생산함수를 이용하여 지역노동시장의 인구학적, 산업적, 공간적 특성과 일자리결합 효율성의 관계에 대해 분석하는 것을 목적으로 시도되었다. 주요 결과로는 지역내 50세 이상의 구직자 비율과 공간적 밀도 수준이 높을수록 일자리결합 효율성이 높아지는 것으로 나타났다. 반면 정규직 계약을 제시한 일자리 비중의 증가는 오히려 결합 효율성을 하락시키는 것으로 나타났다. 지역별 결합 효율성의 크기를 비교 분석한 결과 서울의 결합 효율성이 가장 높게 나타났으며 제주가 가장 낮게 나타나, 대체적으로 수도권 지역이 타지역보다 높은 수준의 결합 효율성을 보였다. 마지막으로 결합 효율성은 전산업생산지수와 음(-)의 관계를 보였는데, 이는 불황기에 구직자가 자신의 기대보다 낮은 수준의 일자리를 받아들일 경향이 커지기 때문에 나타난 결과이다.

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사업체 규모 및 출하특성 자료를 이용한 화물운송시장 분할 (Freight Market Segmentation Using Company Size and Shipment Characteristics Data)

  • 최창호;남두희
    • 대한교통학회지
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    • 제24권4호
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    • pp.103-113
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    • 2006
  • 화물운송시장의 분할은 운송시장의 효율화를 기하고 운송인이 물동량을 유치하기 위한 전략을 알기 위해 사용된다 화주 개개인의 성향을 파악하기 어려우므로 화주를 동질성을 갖는 몇 개의 군집으로 묶어 집단의 성향을 파악한다. 우리나라의 경우 표준산업분류의 배열순서에 따라 시장분할을 하여 왔다. 본 연구는 제조업체를 대상으로 새로운 운송시장 분할 가능성을 평가하였다. 연구의 결과 시장분할을 위한 적정 기준은 연간 입 출하량으로 우수한 분할능력을 보였다 또한 표준산업분류표의 배열순서에 따른 시장분할과 다른 결과를 도출하였다 본 연구는 물동량 발생 주체인 제조업체의 규모와 출하특성을 나타내는 자료를 이용하여 운송시장을 분할한 시도로서 의의가 있다.

Locally Made Liquor(LML) Industry Status and Development Plan Using a Scale Efficiency Analysis

  • Lee, Dongso;Choi, Jong-Woo;Huh, Duk
    • 산경연구논집
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    • 제8권5호
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    • pp.43-52
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    • 2017
  • Purpose - The domestic liquor market is steadily increasing, but locally made liquor markets remain stagnant. The market opening due to the FTA and westernized eating habits are expanding the consumption of imported liquor by Koreans and the demand for beer and soju is still high. Therefore, we analyzed the scale efficiency of Korean locally made liquor companies. Research design, data, and methodology - Based on a translog-cost function, a scale efficiency analysis was conducted using the government's information survey on the liquor industry. Data from 541 liquor companies analyzed from 2013 to 2014 were used for analysis. Results - As a result of the scale efficiency analysis, the average sales of the mid-sized locally made liquor companies is 171 million won, but the appropriate sales amount is 1 million won. It is estimated that there is a need to increase sales. Conclusions - The gap between the actual sales and the appropriate sales of mid-sized locally made liquor companies with 3~10 employees is larger, so it is necessary to reduce the average cost by increasing the sales of locally made liquor companies. In order to do so, it is necessary to acquire customer strategies such as product differentiation, advertising and publicity.

에너지효율향상의무화제도의 국내 도입을 위한 기반구축 연구 - 에너지수요관리제도 및 절감률 산정 중심으로 - (A Study on Establishing Infrastructure Plans to Introduce an Energy Efficiency Resource Standards - Based on the Energy Demand Side Management and Energy Efficiency Potential -)

  • 홍성준;최봉하;이덕기;박수억;원종률
    • 한국수소및신에너지학회논문집
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    • 제21권3호
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    • pp.241-247
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    • 2010
  • An Energy Efficiency Resource Standards (EERS) is a simple, market-based mechanism to encourage more efficient generation, transmission, and use of electricity, natural gas and heat. An EERS consists of electric, gas and/or heating energy savings targets for utilities, often with flexibility to achieve the target through a market-based trading system. In this paper, we make persons acquainted with EERS programs of foreign countries in these days. And we analyze domestic energy demand side management (DSM) programs in order to introduce an EERS program into the country successfully. Energy efficiency potential calculated in 2007 is one of the important factors for establishing an EERS program domestically. This study may provide basic data to set the amount of energy saving when an EERS program would be phased in.

경마 베팅시장의 효율성에 관한 연구 (A Study on the Market Efficiency in a Pari-Mutuel Betting Market in Korea)

  • 유웅;남준우
    • 문화경제연구
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    • 제20권2호
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    • pp.149-171
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    • 2017
  • 본 연구는 국내 복승식 베팅자료를 통해 경마 베팅시장의 비효율성 문제를 분석하고 있다. 국내 비선호마 역설 현상과 위험 선호적 태도는 객관적 우승확률과 주관적 우승확률 간 유의한 차이에서 기인되며, 이는 잘못된 가격책정의 시장 비효율성과 밀접한 관련이 있음을 논의하였다. 또한 한계배당률 정보를 활용한 적중함수를 추정했고, 이에 기반된 복승식 베팅 시뮬레이션을 시행한 결과를 추가 논의하였다. 국내 복승식 베팅자료에 대한 비선호마 역설 현상 분석결과와 두 효용함수의 추정결과는 위험 선호적 결과를 일정부분 시사하는 것으로 나타났다. 이는 사람들이 국내 복승식 베팅시장에서 수익률의 분산이 상대적으로 높은 비선호 베팅조에 대한 베팅을 선호하고 있었음을 의미한다. 전체 7개의 베팅전략 중 무려 4개의 베팅전략에서 시장 기대수익률 이상의 추가 수익이 발생 가능한 것으로 나타났다. 그 중 3개의 베팅전략에서는 최상위 베팅조 구간의 실제 수익률을 훨씬 상회하는 초과 수익이 관찰되었고, 이러한 결과는 국내 경마 베팅시장의 비효율적 측면을 재확인시켜주는 것으로 해석된다. 본 연구에서는 스마트정보로서 한계배당률 변수를 발굴하고 이를 정보 제공과 연계하는 과정을 제시하였다는데 얼마간의 긍정성을 가진다. 한계배당률의 적중함수를 통해 핵심적이지만 아직 공개되지 않은 정보의 비대칭성 문제가 완화될 수 있다. 또한 스마트정보의 적극적 활용은 객관적 우승확률이 상대적으로 낮음에도 불구하고 단지 고배당률 수치에 유인되는 사행성 문제의 해소에도 도움이 될 수 있다.