• Journal of Korean Society of Industrial and Systems Engineering
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• v.30 no.2
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• pp.15-22
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• 2007

By the early 20 century, "workman" introduced by SONY was the leading portable analog sounder. However, at the same century, workman was pushed out from the portable sounder by iRiver developed by MPMAN.COM. This portable digital sounder is called MP3-Player (MP3P), and has become the most popular portable digital sounder in the current market. This study combined two customer satisfaction models, mobile internet customer satisfaction model (Yu, 2002), and portable communication customer satisfaction model (Bae, 2003), in order to empirically test consumption of MP3P and its satisfaction. The proposed model tested four constructs, company's image, product price, product design and product function, influencing customer satisfaction, which leads to affect customer loyalty. 267 survey responses were analyzed by using structural equation modeling (SEM). The results show that all constructs had significant impact. This study suggests a good understanding of consumer satisfaction and loyalty of MP3P and the future direction of MP3P research regarding to consumer satisfaction.

• East Asian Economic Review
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• v.23 no.1
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• pp.27-53
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• 2019

I employ search-and-matching to a multi-country and multi-sector Ricardian model with input-output linkages, trade in intermediate goods, and sectoral heterogeneity, in order to quantify the welfare effects from tariff changes. The paper shows that labor market frictions can be a source of comparative advantage in the sense that better labor market conditions contribute to lower cost in production. Labor market frictions play a critical role in determining the probability of exporting goods to trading partners, and interact with bilateral trade share, price, expenditures, etc. Unemployment and changes in unemployment rates due to tariff reductions contribute welfare changes across countries, implying that welfare effects based on quantitative trade models with full-employment are likely to be biased. I confirm the biased welfare effects by revisiting Caliendo and Parro (2015), who conduct an analysis of the welfare effects from the NAFTA from 1993 to 2005. I show that the welfare gap between theirs and mine has a positive correlation with changes in observed unemployment rates across countries. With the constructed model, I further conduct counterfactual exercises by asking what would happen if China's tariffs remain unchanged from 2006 to 2015. It turns out that there are mild welfare effects to trading partners in the world trading system.

• Asia-Pacific Journal of Business
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• v.14 no.1
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• pp.231-246
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• 2023

Purpose - This study attempts to provide a new theoretical perspective on the quality signaling and its impact on a market under information asymmetry, focusing on how the accuracy and the cost of quality signaling affect sellers' and buyers' profit, suggesting appropriate designs of quality signaling methods which mitigates information asymmetry. Design/methodology/approach - In order to examine the effect of quality signaling on strategic interactions within the market, we establish an analytic model where market outcomes are determined by seller's quality claim and price, and buyers are risk-neutral. By investigating this analytic model through relevant game trees, we find the subgame perfect Nash equilibria of the market and predict related market outcomes based on sellers' quality signaling strategy. Findings - Our analytic model shows counterintuitive results that seller profit will be the lowest with inaccurate quality signaling and the highest with no quality signaling, mostly due to the certification cost. Consequently, sellers should proceed with caution if the quality signaling is less than accurate, as it may backfire. We believe that this is due to the fact that the inaccuracy of quality signaling causes some confusion and uncertainty in both sellers and buyers' decision to maximize profit, making it hard for sellers to predict buyers' behavior. Research implications or Originality - Although the sources and types of quality signaling errors have been investigated in the literature, there has not been satisfactory understanding regarding how inaccuracy of quality certification affects specific market outcomes. We expect that our theoretical model would provide important implications on how to utilize quality signaling to solve adverse selection issues in markets under information asymmetry.

• Land and Housing Review
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• v.12 no.3
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• pp.11-26
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• 2021

With the increasing demand for office space, there have been questions on how office rent distribution produces a change in the urban spatial structure in Seoul. The purpose of this paper is to investigate a relative price gradient and to present a time-series model that can quantitatively explain the dynamic changes in the urban spatial structure. The analysis was dealt with office rent above 3,306 m² for the past 10 years from 1Q 2010 to 4Q 2019 within Seoul. A modified repeat sales model was employed. The main findings are briefly summarized as follows. First, according to the estimates of the office price gradient in the three major urban centers of Seoul, the CBD remained at a certain level with little change, while those in the GBD and the YBD continued to increase. This result reveals that the urban form of Seoul has shifted from monocentric to polycentric. This shows that the spatial distribution of companies has gradually accelerated decentralized concentration implying that the business networks have become significant. Second, contrary to small and medium-sized office buildings that have undertaken no change in the gradient, large office buildings have seen an increase in the gradient. The relative price gradients in small and medium-sized buildings were inversely proportional among the CBD, the GBD, and the YBD, implying their heterogeneous submarkets by office rent movements. Presumably, those differences in the submarkets were attributed to investment attraction, industrial competition, and the credit and preference of tenants. The findings are consistent with the hierarchical system identified in the Seoul 2030 Plan as well as the literature about Seoul's urban form. This research claims that the proposed method, based on the modified repeat sales model, is useful in understanding temporal dynamic changes. Moreover, the findings can provide implications for urban growth strategies under rapidly changing market conditions.

• The Journal of the Korea Contents Association
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• v.16 no.7
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• pp.146-153
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• 2016

This work studies the equilibrium behavior of customers and optimal pricing strategies of the sever in a continuous-time M/M/1 queueing system. In this work, we consider two pricing models. The first one is called the ex-ante payment scheme where the server charges a flat price for all services, and the second one is called the ex-post payment scheme where the server charges a price that is proportional to the time a customer spends in the system. In each pricing model, the departing customer receives the reward that is inversely proportional to his/her sojourn time. The server should make the optimal pricing decisions in order to maximize its expected profit per unit time in each payment scheme. This work also investigates customer's equilibrium joining or balking behaviors under server's optimal pricing strategies. Numerical experiments are conducted to help the server best select one between two pricing models.

• Journal of the Korea Society of Computer and Information
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• v.11 no.1 s.39
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• pp.223-235
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• 2006

Textile industry of Korea has been assumed advanced textile industry nation's aspects with production system and equipment. But has been descended in the sector of design, brand, recognition comparing with Italy, Japan, England. And products of middle and low price do not have competitiveness against China, South East Asia. The world's textile industry nation has been confronted with Free Trade, and Regional Trade Blocks. New market has been opened with free Trade, but Trade Blocks(NAFTA, EU, APEC etc.) which encourage regional member country's profit maximize made textile export driven nation to consider strategies to cope with. Advanced textile industry nation divided the work among themselves and composed linking system among them which highly valuable products are manufactured at advanced nation and low price products are manufactured by global outsourcing. The purpose of this study is to analyze impact of process which requires to secure international competitiveness into business performance experimentally.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.40 no.4
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• pp.147-153
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• 2017

The mortality rate in industrial accidents in South Korea was 11 per 100,000 workers in 2015. It's five times higher than the OECD average. Economic losses due to industrial accidents continue to grow, reaching 19 trillion won much more than natural disaster losses equivalent to 1.1 trillion won. It requires fundamental changes according to industrial safety management. In this study, We classified the risk of accidents in industrial complex of Ulju-gun using spatial analytics and data mining. We collected 119 data on accident data, factory characteristics data, company information such as sales amount, capital stock, building information, weather information, official land price, etc. Through the pre-processing and data convergence process, the analysis dataset was constructed. Then we conducted geographically weighted regression with spatial factors affecting fire incidents and calculated the risk of fire accidents with analytical model for combining Boosting and CART (Classification and Regression Tree). We drew the main factors that affect the fire accident. The drawn main factors are deterioration of buildings, capital stock, employee number, officially assessed land price and height of building. Finally the predicted accident rates were divided into four class (risk category-alert, hazard, caution, and attention) with Jenks Natural Breaks Classification. It is divided by seeking to minimize each class's average deviation from the class mean, while maximizing each class's deviation from the means of the other groups. As the analysis results were also visualized on maps, the danger zone can be intuitively checked. It is judged to be available in different policy decisions for different types, such as those used by different types of risk ratings.

• Journal of Digital Convergence
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• v.17 no.10
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• pp.169-176
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• 2019

Recently, the Korean economy is congested with Japan's economic retaliation, the US-China trade war, the Bank of Korea's 0.25% base rate cut and Korea's economic growth forecast revision. The purpose of this study is to analyze the KOSPI, CPI, Treasury bonds(3 years) Interest rate & sales performance of all industries, and examine the impact of each index on the KOSPI. The analysis period is from January 2003 to June 2019, and the effect of each index on the KOSPI is analyzed. In numerical analysis, we performed correlation coefficients and regression analysis. In the model analysis, the distribution, quadrant, scatter, box-plot and impulse response were examined. This study examined the volatility and dynamic characteristics of each index. As a result, the KOSPI showed a high correlation with sales and Treasury bonds, but showed a very low correlation with the CPI. The KOSPI will continue to be affected by sales and interest rates.

• The Journal of Fisheries Business Administration
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• v.42 no.3
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• pp.31-39
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• 2011

This paper attempts to extend such analysis to the rather more difficult problem of optimal management of transnational fish stocks jointly owned by two countries. Transboundary fish such as Mackerel creates an incentive to harvest fish before a competitor does and leads to over-exploitation. This tendency is especially poignant for transnational stocks since, in the absence of an enforceable, international agreement, there is little or no reason for either government or the fishing industry to promote resource conservation and economic efficiency. In the current paper I examine a game theoretic setting in which cooperative management can provide more benefits than noncooperative management. A dynamic model of Mackerel fishery is combined with Nash's theory of two countries cooperative games. A characteristic function game approach is applied to describe the sharing of the surplus benefits from cooperation and noncooperation. A bioeconomic model was used to compare the economic yield of the optimal strategies for two countries, under joint maximization of net benefits in joint ocean. The results suggest as follows. First, the threat points represent the net benefits for two countries in absence of cooperation. The net benefits to Korea and China in threat points are 2,000 billion won(${\pi}^0_{KO}$) and 1,130 billion won(${\pi}^0_{CH}$). Total benefits are 3,130 billion won. Second, if two countries cooperate one with another, they reach the solution payoffs such as Pareto efficient. The net benefits to Korea and China in Pareto efficient are 2,785 billion won(${\pi}^0_{KO}$) and 1,605 billion won(${\pi}^0_{CH}$) or total benefits of 4,390 billion won : a gain of 1,260 billion won. Third, the different price effects under the two scenarios show that total benefit rise as price increases.

• Korean Journal of Construction Engineering and Management
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• v.16 no.4
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• pp.21-29
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• 2015

Construction cost index (CCI) has been published for last 10 years, it's contributed to update the historical cost data, analysis cost fluctuation and evaluate the market price for construction works with direct or indirect manner. CCI is a secondary or processed statistics using the basic statistics of input output table (IO table) and producer price index (PPI) from the Bank of Korea (BOK). So once the basic statistics change, it is required to modify the calculating model of CCI. Recently the BOK changed some fundamental principles and the base year (from 2005 to 2010), that can be used in IO table and PPI. This research analyzed the recent revision of basic statistics and their impacts on CCI, and improved the previous CCI model in response to it. Also the validity of new CCI was verified by analyzing the items and weights utilized in CCI and comparing the related index.