• Proceedings of the Korean Operations and Management Science Society Conference
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• 2002.05a
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• pp.1030-1037
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• 2002

통신서비스의 성패를 좌우하는 다양한 선택의 문제 중 하나는 신규 서비스를 제공하는 데 있어서, 어떤 기술을 도입하고 언제 상용화할 것인가를 결정하는 것이다 이러한 결정에는 서비스를 제공하는데 수반되는 투자와 비용, 시장 규모의 예측, 경쟁사업자 동향, 기존 또는 유사 기술과의 호환성이나 경쟁 관계 등이 고려되어야 하며, 이를 위해 다양한 경제성분석 방법이 활용되어 오고 있다. 그러나, 전통적인 현금흐름할인법의 경우, 현재 획득 가능하거나 추정할 수 있는 데이터를 이용해서 의사결정을 내리는 방식을 취하고 있으며 유연한 사고를 통해 수시로 변화하는 사업환경을 동태적 입장에서 의사결정을 지원할 수 없다는 한계를 지니고 있다. 최근, 이에 대한 대안으로 실물옵션이론을 활용한 경제성분석 방법이 소개되고 있다. 이는 금융옵션의 특성에 기반을 둔 방법으로, 주변 여건의 변화에 대해 유연한 의사결정을 지원할 수 있다는 측면이 통신서비스와 같은 불확실성이 큰 사업환경에 적합한 방법이 될 것으로 판단된다. 이에 본 논문에서는 새롭게 부각되고 있는 무선 LAN 서비스의 제공을 위한 통신 사업자의 서비스 도입 전략을 실물옵션이론을 활용해서 분석해 보고자 한다. 이를 통해, 통신사업자의 관점에서 무선 LAW 서비스의 제공을 추진할 때 가능성이 높은 몇 가지 시나리오에 대한 대응 방안과 유의점에 대해 고찰한다.

• 한국IT서비스학회:학술대회논문집
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• 2008.11a
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• pp.108-111
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• 2008

최근 급격한 증가세를 보이고 있는 신재생에너지 사업중의 하나인 태양광 발전사업은 아직까지는 기술적, 사회적으로 초기 발전단계를 지나고 있다. 또한 원자재를 포함한 글로벌 실물경제의 변동성이 심하고 에너지 산업분야의 기술수준 역시 급변하고 있으며, 에너지 산업이 과거와 달리 자유경쟁 체제로 변화하고 있어서 태양광 발전사업의 가치를 평가하여 사업에 진입하고자 하는 의사결정을 갈수록 어렵게 하고 있다. 본 논문에서는 실물옵션 기반의 투자가치 평가방법을 적용하여 태양광 발전사업의 사업 투자가치와 최적투자시점을 분석한다. 전력판매가격과 초기투자비용 등의 불확실성에 대해 사업자가 대응 가능하도록 이항격자 모형을 통한 분석을 시도하고, 기존의 현금흐름할인법을 기반으로 한 사업성분석 결과와 비교하였다.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.24 no.64
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• pp.29-38
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• 2001

Most warranty studies assume that the usage intensity is the same for all buyers. However, in real life the usage intensity varies across the population of buyers. In the general case, one can divide the population into $\kappa$ categories. This has implications for manufacturers of products. Should a manufacturer produce one product and offer different warranties for the $\kappa$ groups or produce different products (one for each group) and offer the same warranty. A warranty cost analysis is needed to choose between these options. The analysis complicated by factors such as adverse selection , buyers attitude to risk and the price structure. In this paper we develop models to study the expected warranty cost for products with free replacement warranty with varying usage intensity. Numerical examples are presented.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.20 no.43
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• pp.91-97
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• 1997

The objective of a traffic management system is to promote safe driving, low pollution, short travel time, and optimized traffic flow by naturally distributing the flow of traffic through the use of suitable telecommunications media. Such traffic management systems will be improved by integrating dynamic traffic data and two-way communication media because cars can work as sensors. The purpose of this paper is to help organizations trying to select the correct telecommunications media for minimal-cost investment options without loss of functionality. The wireless communications for an intelligent transportation system (ITS) are introduced in this paper. We describe which kind of telecommunication media are suitable. FM broadcast type media or cellular phone can be recommended to provide real time traffic and roadway conditions in the first stage of ITS, because existing broadcast base station or cellular network facilities can be used. It is expected that cellular radio network or satellites are used for communication. Finally, the strategy and deployment plan of an ITS are described based on selections of telecommunication media in Korea.

• East Asian Economic Review
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• v.19 no.3
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• pp.243-273
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• 2015

The purpose of this paper is to identify learning in games in experimental economic settings, and apply their results to real multilateral trade negotiations, such as the Doha Development Agenda (DDA) in the World Trade Organizations (WTO). This paper argues that the structure of games including a veto player (Veto games) is similar to the WTO/DDA negotiations in that the players do not possess identical power. This paper's main contribution to the literature involves showing that learning about power is dominant over learning from simple repetition in Veto games. Additionally, this paper shows that players are concerned about how much they have gained in previous games in Veto games, although their memories generally do not last beyond the next game, and thus they tend to be selfish as they have less shares. Based on these results, there is a possibility to be more generous in the distribution of benefits by allowing players without veto power to retain special rights so that they would not be totally powerless. It also shows the necessity of having "respite" in the process of negotiations and policy options for choosing partners for winning coalitions.

• Asian Journal of Innovation and Policy
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• v.7 no.3
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• pp.625-645
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• 2018

This paper's objective is to draw a decision guideline to continue research and development (R&D) investments in biotech start-ups facing the "Valley of Death" syndrome - a long negative profit period during a financial crisis. The data include financial indices as Net income, Revenues, Total stockholders' equity, Cash & equivalents, and R&D expenses of 18 major biotech companies (nine in negative profit and nine positive, in FY2008) and 15 major pharmaceutical corporations as benchmarks both in FY2008 and in FY2016 derived from the US SEC Database, EDGAR. A first methodology dealing with real options analysis assumes Total stockholders' equity as a growth option. And a second methodology, Bayesian Markov chain Monte Carlo (MCMC) analysis, is applied to test the probability relationship between the Total stockholders' equity and the R&D expenses in these three groups. This study confirms that Total stockholders' equity can play the role of a call option to support continuing R&D investments even in negative profits.

• Journal of the Korea Society of Computer and Information
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• v.24 no.4
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• pp.73-81
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• 2019

Various 3D contents are being developed using Unity 3D game engine. In this paper, the 3D content of horseback riding game, the first VR game in the country, is designed and developed. The existing riding simulator is investigated and compared to the VR riding game developed. We consider various games developed using Unity 3D game engine and serve previously developed tangible games. It is expected that development of VR riding games will prepare a new chapter in VR experience-type games. We propose the content development environment and scenario of VR riding game and present the main algorithms and main modules for real-time synchronization. The developed riding game contents are deployed to the riding system and are operated for commercial use in conjunction with the riding device. Through monitoring VR riding system, problems are derived and improvement measures are proposed. We offer a variety of additional development options to make the game more realistic in the future.

• International conference on construction engineering and project management
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• 2005.10a
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• pp.980-985
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• 2005

Since the 1980s, Build-Operate-Transfer and its variations have become a common approach to develop large-scale infrastructure projects. Despite the slight variations in contractual settings, the key issue for all parties concerned is to assess the risks and uncertainties inherent in a project. The risk factors studied and highlighted by past researchers are very diverse. This paper starts with an objective to compare the risk factors in different sectors of infrastructure, and then categorize them into two kinds: general and specific. Following this classification, risk mitigation strategies should be adopted differently at the corporate and project levels. A few short cases have also been used to illustrate the flexible measures or "options" that some project participants have designed to address risks and uncertainties at the two levels.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2023.05a
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• pp.351-352
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• 2023

In order to respond to changes in the industrial environment such as the 4th industrial revolution, university education also needs active educational innovation efforts. This study proposed a construction construction hybrid curriculum that can actively utilize online education in the direction of educational innovation in domestic universities. The hybrid curriculum was based on online learning through lecture videos used in team-based learning. The hybrid curriculum additionally allows learners to choose their learning methods. In a hybrid class, learners can choose the class participation method they want from offline classroom or online real-time. Hybrid classes are considered to strengthen learners' options and take a step forward in learner-centered education.

• International conference on construction engineering and project management
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• 2011.02a
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• pp.368-375
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• 2011

Along with the growing interest in greenhouse gas reduction, the effect of energy reduction from green buildings is gaining interest as well. However, green buildings may have difficulties in financing due to their high initial construction costs. With this in mind, the objective of this study is to suggest a financing model for green building projects with a governmental guarantee based on CER (Certified Emission Reduction). In other words, in the financing model, the government provides a guarantee for the increased costs of a green building project in return for CER. The suggested financing model was tested and found feasible for implementing green building projects. In addition, the model in this study is applicable to private projects because guarantee has its return. To utilize CER as a return for a financial guarantee, however, certification of CDMs (Clean Development Mechanism) for green buildings must be vitalized.