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Option Pricing and Sensitivity Evaluation Methodology: Improvement of Speed and Accuracy (옵션 가치 및 민감도 평가 방법: 속도와 정확도 개선에 대한 고찰)

  • Choi, Young-Soo;Oh, Se-Jin;Lee, Won-Chang
    • Communications for Statistical Applications and Methods
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    • v.15 no.4
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    • pp.563-585
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    • 2008
  • This paper presents how to improve the efficiency and accuracy in the pricing and sensitivity evaluation for derivatives, since the need for the evaluation of complicated derivatives is increased. The Monte Carlo(MC) simulation using the quasi random number instead of pseudo random number can improve the elapsed time and accuracy for the valuation of European-type derivatives. However, the quasi MC simulation method has its limit for applying it in the multi-dimensional case such as American-type and path-dependent options due to the increased correlation between dimensions as the dimension of random numbers is increased. In order to complement this problem, we develop a modified method in which correlation values are controlled to be below a pre-specified value. Thus, this method is applicable for the pricing of either derivatives ill which underlying assets or risk factors are several or derivatives having path-dependent or early redemption property. Furthermore, we illustrate that it is important to take an appropriate grid interval for the use of finite difference method(FDM) by applying the FDM to one example of non-symmetrical butterfly spreads.

A Social Historical Study on Security System of Goryo Period (고려시대(高麗時代) 시위제도(侍衛制度)에 관한 사적고찰(史的考察))

  • Kim, Chang-Ho;Min, Jae-Ki
    • Korean Security Journal
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    • no.15
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    • pp.107-128
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    • 2008
  • It was started that Shiwe-goon was organized from Shilla-end to Goryeo foundation a country in powerful families existence merely royal household by stably plan means in the reign of Taejo. Generally Shiwe-goon was dutie king' personal danger of protection. Shiwe-goon was organized castle of guarding, stand by king and royal household side armed strength to going on a trip and general armed-organization was collapsed for Goryeo-end continued existence. Goryeo era of Shiwe-organization was divided central army and region army. Two-goon(Eungyang-goon, Yongho-goon) was undertaken king of Shiwe army and six-we(Chunwoo-we, Geumoh-we, Gammoon-we, Jeoawoo-we, Shinoh-we, Hongwe-we) was undertaked capital of guard and the border of defense duty. Central army of commanders was called Sangjanggoon, Daejanggoon. Sangjanggoon and Daejanggoon was discussed military officer of conference apparatus in Jungbang. Jungbang was got afterward Mooshinjungbeon happened military of statesman grasping political power with authority a main stay. Mooshinjungkwen era was appeared modernistic mean of privately guarding organization in Dobang and Naedobang. According as Shiwe-organization was charged military organization as a part of sovereign power and grasping strength of authority- maintenance for security and guarding duty. As a conclusion, national sovereign of guard was achieved not only personal life and body guard protection but also country of welfare protection in country-welfare dimension an inch of non-error. Also national sovereign of guard was considered guarding apparatus of allowance the largest duty and country-welfare direct connection with actual fact recognition in constancy effort.

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How is Scientific and Technological Knowledge Linked in Technological Innovation in Korea? (우려나라 기술혁신에서의 과학-기술 지식연계 특성분석)

  • Park, Hyun-Woo;Son, Jong-Ku;You, Yeon-Woo
    • Journal of Korea Technology Innovation Society
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    • v.14 no.1
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    • pp.1-21
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    • 2011
  • Technical change and technological innovation have become major drivers of economic progress in the knowledge oriented economies where growth, productivity, and competitiveness are increasingly based on improved technologies, novel products, upgraded processes or customized services. The creation of new knowledge, modifying or improving existent knowledge, or imitation of others, has become central to economic development. New discoveries, state-of-the-art information gathering procedures, or successful problem solving routines are often at he core of these innovations. Despite the generally acknowledged importance of science in many high-tech areas of major economic relevance, there is few science-related statistics to be found in high-profile international benchmarking reports. This paper aims to provide an answer by advancing our understanding of the possibilities of indicators quantifying linkages between science and technology. Central are the concepts of innovation capability and science/technology interface, which are used to assemble a wide range of empirical studies and quantitative indicators to summarize their possibilities and limitations for producing comparative statistics. For the purpose of the study, we extracted the US patents by Korean assignees or inventors, scientific papers cited in the patents in order to analyze the characteristics of linkage of scientific knowledge flows. The review focuses on indicators dealing with flows of written or codified information, and indicators of inventiveness that capture the non-codifiable tacit knowledge dimension. General conclusions will be drawn with a view towards further developments in the foreseeable future, suggesting new avenues for the design and implementation of patent-based and inventor-based relationships between scientific research and technical development within the context of regional or national systems of innovation.

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A Spatial Entropy based Decision Tree Method Considering Distribution of Spatial Data (공간 데이터의 분포를 고려한 공간 엔트로피 기반의 의사결정 트리 기법)

  • Jang, Youn-Kyung;You, Byeong-Seob;Lee, Dong-Wook;Cho, Sook-Kyung;Bae, Hae-Young
    • The KIPS Transactions:PartB
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    • v.13B no.7 s.110
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    • pp.643-652
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    • 2006
  • Decision trees are mainly used for the classification and prediction in data mining. The distribution of spatial data and relationships with their neighborhoods are very important when conducting classification for spatial data mining in the real world. Spatial decision trees in previous works have been designed for reflecting spatial data characteristic by rating Euclidean distance. But it only explains the distance of objects in spatial dimension so that it is hard to represent the distribution of spatial data and their relationships. This paper proposes a decision tree based on spatial entropy that represents the distribution of spatial data with the dispersion and dissimilarity. The dispersion presents the distribution of spatial objects within the belonged class. And dissimilarity indicates the distribution and its relationship with other classes. The rate of dispersion by dissimilarity presents that how related spatial distribution and classified data with non-spatial attributes we. Our experiment evaluates accuracy and building time of a decision tree as compared to previous methods. We achieve an improvement in performance by about 18%, 11%, respectively.

Design of Optimized pRBFNNs-based Face Recognition Algorithm Using Two-dimensional Image and ASM Algorithm (최적 pRBFNNs 패턴분류기 기반 2차원 영상과 ASM 알고리즘을 이용한 얼굴인식 알고리즘 설계)

  • Oh, Sung-Kwun;Ma, Chang-Min;Yoo, Sung-Hoon
    • Journal of the Korean Institute of Intelligent Systems
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    • v.21 no.6
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    • pp.749-754
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    • 2011
  • In this study, we propose the design of optimized pRBFNNs-based face recognition system using two-dimensional Image and ASM algorithm. usually the existing 2 dimensional face recognition methods have the effects of the scale change of the image, position variation or the backgrounds of an image. In this paper, the face region information obtained from the detected face region is used for the compensation of these defects. In this paper, we use a CCD camera to obtain a picture frame directly. By using histogram equalization method, we can partially enhance the distorted image influenced by natural as well as artificial illumination. AdaBoost algorithm is used for the detection of face image between face and non-face image area. We can butt up personal profile by extracting the both face contour and shape using ASM(Active Shape Model) and then reduce dimension of image data using PCA. The proposed pRBFNNs consists of three functional modules such as the condition part, the conclusion part, and the inference part. In the condition part of fuzzy rules, input space is partitioned with Fuzzy C-Means clustering. In the conclusion part of rules, the connection weight of RBFNNs is represented as three kinds of polynomials such as constant, linear, and quadratic. The essential design parameters (including learning rate, momentum coefficient and fuzzification coefficient) of the networks are optimized by means of Differential Evolution. The proposed pRBFNNs are applied to real-time face image database and then demonstrated from viewpoint of the output performance and recognition rate.

A study on a plan to increase produce and agricultural foods export (농산물 및 농식품 수출 확대를 위한 방안 연구)

  • Kang, Chang-Won
    • Journal of Distribution Science
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    • v.7 no.4
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    • pp.27-36
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    • 2009
  • In the performance of this research we aimed at surveying·studying the trouble factors, problems and improvement plans to extend agricultural products and agro-food and providing basic data for the globalization of Korean agricultural products and agricultural foods in future. All the respondents highly recognized, in general, the problems in exporting agricultural products and agro-food, and it was surveyed that the biggest reason lay in the insufficiency of the scout for new buyers and the lack in opening overseas market and marketing specialists. As for the problems of the supporting system of the export of agricultural products, it was pointed out that the level of recognition was fairly high, but the procedures were difficult, and they indicated the problems of non-benefits in spite of the recognition of the selection. For the purpose, it could be known that it required the publicity and education as to export supporting system, and also required the extension of export supporting system and the improvement of the system. Finally, in relation with the export promotion plan, the factors blocking the export promotion of agricultural products marked the highest in the weak management size and production foundation and the lack in export mind and special workforce. Therefore, considering that most of exporters of agricultural products are small/medium sized businesses, we foresaw that we lack in the opening of overseas market and the capacity of marketing activities, and analyzed that it was necessary to open an overseas market in the dimension of the government and cooperate with the marketing to solve the problems.

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A Research on the Paradigm of Interaction Based on Attributes (인터렉션 속성에 기초한 인터렉션 범식화 연구)

  • Shan, Shu Ya;Pan, Young Hwan
    • Journal of the Korea Convergence Society
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    • v.12 no.5
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    • pp.127-138
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    • 2021
  • The aim of this study is to demonstrate interaction as a describable field and tries to understand interaction from the perspective of attributes, thus building a theoretical to help interactive designer understand this field by common rule, rather than waste huge time and labor cost on iteration. Since the concept of interaction language has been brought out in 2000, there are varies of related academical studies, but all with defect such as proposed theoretical models are built on a non-uniform scale, or the analyzing perspective are mainly based on researcher's personal experience and being too unobjective. The value of this study is the clustered resource of research which mainly based on academical review. It collected 21 papers researched on interaction paradigm or interaction attributes published since 2000, extracting 19 interaction attribute models which contains 174 interaction attributes. Furthermore, these 174 attributes were re-clustered based on a more unified standard scale, and the two theoretical models summarized from it are respectively focuses on interaction control and interaction experience, both of which covered 6 independent attributes. The propose of this theoretical models and the analyzation of the cluster static will contribute on further revealing of the importance of interaction attribute, or the attention interaction attribute has been paid on. Also, in this regard, the interactive designer could reasonably allocate their energy during design process, and the future potential on various direction of interaction design could be discussed.

Tea consumption is associated with a reduced risk of coronary heart disease in female but not male populations in Guangzhou, China

  • Chen, Ying;Ye, Yanfang;Zhang, Zhen;Zhang, Chi;Chen, Minyu;Pang, Jun;Zhou, Shuxian;Xiang, Qiuling
    • Nutrition Research and Practice
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    • v.13 no.5
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    • pp.393-398
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    • 2019
  • BACKGROUND/OBJECTIVES: The association between tea consumption and risk of coronary heart disease (CHD) remains controversial. This study aimed to determine whether tea consumption has an effect on CHD risk in Chinese adults. SUBJECTS/METHODS: In this hospital-based case-control study, 267 cases of CHD and 235 non-CHD controls were enrolled. Blood samples from all cases were examined. Cardiac function indices (left ventricular ejection fraction, left ventricular end-diastolic dimension, lactate dehydrogenase, and creatine kinase of the muscle or brain type), blood lipid index (high-density lipoprotein cholesterol), and blood coagulation function indices (fibrinogen and activated partial thromboplastin time) were recorded. Tea consumption of study participants was assessed by a specifically designed questionnaire. The baseline characteristics of the study populations were recorded, and CHD-related biomarkers were detected. Differences in baseline characteristics of the study participants were examined using t-tests for continuous variables and chi-squared tests for categorical variables. Unconditional logistic regression was used to measure the association between tea and CHD. RESULTS: There were significant differences in cardiac function indices, blood lipid index, and blood coagulation indices between CHD cases and controls (P < 0.05). We found tea consumption reduced CHD risk in female participants (adjusted odds ratio (OR) = 0.484, 95% CI: 0.242-0.968, P = 0.0403). Regarding the type of tea consumed, the risk of CHD was reduced in women who drank partially fermented tea (adjusted OR = 0.210, 95% CI: 0.084-0.522, P = 0.0008). Analytic results for the amount of tea consumed per unit time showed CHD risk was reduced in women who consumed 1-2 cups of tea per day (adjusted OR = 0.291, 95% CI: 0.131-0.643, P = 0.0023). A tea-drinking frequency of > 6 days/week was beneficial for CHD prevention (adjusted OR = 0.183, 95% CI: 0.049-0.679, P = 0.0112). When analyzed according to the duration of tea consumption, the risk of CHD was reduced in participants who had been drinking tea for 10-20 years (adjusted OR = 0.360, 95% CI: 0.137-0.946, P = 0.0382). CONCLUSIONS: Tea consumption is associated with a reduced risk of CHD in female but not male populations in Guangzhou.

Experimental Study on the Ground Behavior around a Tunnel due to the Sidewall Deformation of Shallow Tunnel in Longitudinal Direction Excavated under the Slope (사면 하부지반에 종단 방향으로 굴착한 얕은 터널에서 측벽변형에 따른 터널 주변지반의 거동에 대한 실험적 연구)

  • Na, Yong Soo;Lee, Sang Duk
    • Journal of the Korean Geotechnical Society
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    • v.35 no.5
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    • pp.21-30
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    • 2019
  • While the study of the shallow tunnel has been mainly on the longitudinal load transfer and horizontal surface conditions, the study of the ground behavior of shallow tunnel under the slope is not sufficient. Therefore, in this study on the ground behavior around a tunnel due to the sidewall deformation of shallow tunnel under the slope that is excavated in longitudinal direction, a scale-down model test has been performed. The model tunnel has the dimension of 320 mm wide, 210 mm high and 55 mm long with enough material strength in aluminum and the model ground has the uniform ground conditions by 3 types of carbon rods. The model test has been performed with the variables of slopes and the cover depths by controlling the tunnel sidewall deformation, and the change of sidewall-load, load transfer, ground subsidence was monitored and analyzed. According to the increase of the slope, the maximum ground subsidence increased by 20~39% compared to the horizontal surface. The load ratio increased by maximum 20% in the tunnel crown and decreased in sidewall according to the surface slope. The load transfer shows maximum 128% of increase at the cover depth of 1.0D, while at the 1.5D cover depth it shows non-critical difference from horizontal surface. The slope has major effects on load transfer at the cover depth of 1.0D.

Hydraulic Characteristics of Deep and Low Permeable Rock Masses in Gyeongju Area by High Precision Constant Pressure Injection Test (고정밀도 정압 주입시험에 의한 경주 지역 대심도 저투수성 암반 수리특성 연구)

  • Bae, SeongHo;Kim, Hagsoo;Kim, Jangsoon;Park, Eui Seob;Jo, Yeonguk;Ji, Taegu;Won, Kyung-Sik
    • Tunnel and Underground Space
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    • v.31 no.4
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    • pp.243-269
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    • 2021
  • Since the early 2010s, the social importance of research and practical projects targeting deep geological disposal of high-level nuclear waste, underground CO2 storage and characterization of deep subsurface by borehole investigation has been increasing. In this regard, there is also a significant increase in the need for in situ test technology to obtain quantitative and reliable information on the hydraulic characteristics of deep rock mass. Through years of research and development, we have independently set up Deep borehole Hydraulic Test System (DHTS) based on the key apparatuses designed and made with our own technology. Using this system, high precision constant pressure injection tests were successfully completed at the two 1 km boreholes located in Mesozoic granite and sedimentary rock regions, Gyeongju. During the field tests, it was possible to measure very low flow rate below 0.01 l/min with micro flow rate injection/control module. In this paper, the major characteristics of DHTS are introduced and also some results obtained from the high precision field tests under the deep and low permeable rock mass environment are briefly discussed.