• Title/Summary/Keyword: Wholesale market price

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Analysis of price signals in incumbent Wholesale Market (현 도매전력시장의 가격체계에 의한 투자신호 분석 및 발전방향)

  • Lee, Gun-Ho;Kim, Yong-Wan;Kim, Yum-Hyung;Baek, Sun-Hee;Moon, Kyeong-Seob;Kim, Doo-Jung;Oh, Ki-Jung;Kim, Tea-Kyu
    • Proceedings of the KIEE Conference
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    • 2008.07a
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    • pp.534-535
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    • 2008
  • 2001년 4월 이후 기저발전기의 정산제도가 지속적으로 개선되어 왔다. 소비자 요금이 규제받는 상황에서 소매부문과 발전부문의 수지균형을 기저발전기에 규제가격을 적용하여 해결하였다. 따라서 본 논문에서는 설비예비력 확보 메커니즘의 경제적 이론을 고찰하고 현 전력시장의 전원별 투자시그널에 대해 분석하였다.

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Studying Retailer Strategies through an Integrated E-Business Model: a Multi-Agent Approach

  • Xie Ming;Chen Jian
    • Management Science and Financial Engineering
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    • v.11 no.3
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    • pp.1-17
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    • 2005
  • Agent technology has been widely applied in today's electronic business, such as mobile agents, multi-agent information systems, etc. In particular, multi-agent systems have been applied as powerful simulation tools to study complex business networks composed of various self-interested trading firms and/or human beings. In this paper, we build an integrated model that consists of a multi-agent B2C market model and a B2B trade network model, and incorporate more reality than much of prior work. Then with this model, we carry out experimental studies on two different strategies that are common in electronic business - 'loyal' strategy (retailers try to build stable cooperation with suppiers to ensure material supply) and 'cost-saving' strategy (retailers try to reduce cost by choosing suppliers with lower wholesale price).

Interactive Effects of Situation and Personal Characteristics on Perceived Risk, Importance of Store Attributes and Store-Type Choice (상황과 소비자 특성의 지각된 위험, 상점속성의 중요도 및 상점선택행동에 대한 영향)

  • 홍희숙
    • Journal of the Korean Society of Clothing and Textiles
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    • v.20 no.5
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    • pp.877-892
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    • 1996
  • The purpose of this was to test the interactive effects of usage situation and personal characteristics on perceived risk, importance of store attributes and store-type choice. The data were collected via a questionnaire from 601 housewives of ages 20's∼ 50's living in Seoul, Korea, and analyzed by factor analysis and repeated measure two-way ANOVA. The results of this study were as follows: First, the interactive effect of age and situation on economic risk was significant. Second, the significant infraction of age and situation on importance of product price/variety was found, and there were significant intractions of education and situation on importance of service/convenience, discount policy and product information sources/promotion. Third, the interactive effects of situation and personal characteristics (age, income, education or job) on store-type choice (brand chain store, discount store, department store, designer boutique, local store or a wholesale market) were significant.

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A Study on the Farming Decision-making Process of Onion and Garlic Farmers by the Perspective of Behavioral Economics (양파와 마늘 농가의 행동경제학적 영농 의사결정 과정에 관한 연구)

  • Lee, Su-Mi;Kim, Ho
    • Korean Journal of Organic Agriculture
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    • v.32 no.1
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    • pp.25-37
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    • 2024
  • This study is to apply behavioral economics-an economics that studies actual human behavior based on cognitive psychology-to the farming decision-making process of onion and garlic farmers. Of behavioral economic theories, dual system theory and prospect theory (value function), heuristic and bias were surveyed and examined in the field. The reference point of farmers was farming experience of the previous year, and so they showed reference dependence and anchoring heuristic, not rational thinking on production cost plan. And they showed status quo bias that cultivated continuously the previous year or the present crop. This status quo bias is related to loss aversion propensity. Farmers did not usually change cultivating crops, in other words, they showed diminishing sensitivity-insensitive to those that the more revenue or loss was increased. This diminishing sensitivity is related to loss aversion propensity and status quo bias. Also, farmers had representativeness heuristic because they regarded auction price of Garakdong wholesale market as the standard price level despite various prices by production region. And farmers had the affect heuristic that they depended on producers' organization data more than the state-run research institute ones about cultivation intentions and actual situations.

A Study on KAN Code ID for Promoting Distribution Information or Agricultural Products (농산물 유통 정보화 촉진을 위한 KAN코드 사용 확대에 관한 연구)

  • Ahn, Seung-Yong;Kang, Kyung-Sik
    • Journal of the Korea Safety Management & Science
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    • v.8 no.5
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    • pp.99-117
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    • 2006
  • Consumers keep demanding for diversified high quality products, valuable services and safety. With this in mind, Distribution Industry is being updated rapidly to accomodate this demand. Meanwhile, Distribution Information Technology of agricultural products has been in slow progress with little in-depth studies. In this study, it has been analyzed the usage of Bar code which is the key element for agricultural Distribution Information Technology. The analysis was conducted through a survey utilizing questionnaire covering 5 Hypermarkets(Super-centers) including big 3 companies. Also, Japanese market trends have been studied to visit a Japan Government Organization concerned, GS1 Japan, an Agricultural Cooperative, an Agricultural Wholesale Market, and a Retail Company. If we could use KAN code for all agricultural products, we could collect and analyze the information of price and trade quantity of them. It opens a new era to understand the agricultural products supply and demand easily. This will certainly make a great contribution to the evolution of agricultural products distribution. From this research, it is suggested that collective efforts by suppliers, wholesalers, retailers and Government Officers are needed to make large scale mutual marketing Organizations, which specialize in sending out agricultural products. The Organization is recommended to standardize and pack every final agricultural products, to promote the use of KAN code.

Impact of Information Sharing Regarding Customer Returns Ratio on Optimal Sales Strategy under E-commerce

  • Saito, Yuta;Kusukawa, Etsuko
    • Industrial Engineering and Management Systems
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    • v.14 no.2
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    • pp.111-121
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    • 2015
  • A correct information of customer returns ratio under e-commerce is not always shared between supply chain (SC) members. Also, it is important issue for SC members to handle the unsold products in a market. This paper discusses the impact of information sharing of customer returns ratio on an optimal sales strategy including resale of customer returns and buyback policy for a SC under e-commerce with a manufacturer and a retailer. A retailer sells a single product and resells the resalable customer returns in the same market. A manufacturer produces the products and buys back the unsold products as to their quality from the retailer. The integrated SC (ISC) determines the optimal product order quantity to maximize the expected profit of the whole SC. The decentralized SC (DSC) makes the optimal decisions for order quantity and the wholesale price of products to maximize the expected profit of each SC member. The effect of information sharing is discussed between SC members under ISC and DSC. The analysis numerically investigates how information sharing of the returns ratio affects the optimal decision and the expected profits under ISC and DSC. Besides, effect of SC coordination to encourage the shift to ISC is discussed.

Study on Interrelation between the Service Industrial Production Index and the Service Industrial Wholesale and Retail Index (서비스업생산지수와 서비스업도소매지수와의 상호연관성에 관한 연구)

  • Kim, Joo Il
    • Journal of Service Research and Studies
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    • v.6 no.1
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    • pp.83-95
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    • 2016
  • We examine the information transmission between the Service Industrial Production Index and the Service Industrial Wholesale and Retail Index, based on the returns data offered by the Korea Bank. The data includes daily return data from January 2000 to September 2015. Utilizing a dynamic analytical tool-the VAR model, Granger Causality test, Impulse Response Function and Variance Decomposition have been implemented. The results of the analysis are as follows. Firstly, results of Granger Causality test suggests the existence of mutual causality the Service Industrial Production Index precede and have explanatory power the Service Industrial Wholesale and Retail Index However the results also identified a greater causality and explanatory power of the Service Industrial Wholesale and Retail Index over the Service Industrial Production Index. Secondly, the results of impulse response function suggest that the Service Industrial Production Index show immediate response to the Service Industrial Wholesale and Retail Index and are influenced by till time 5 From time 2, the impact gradually disappears. Also the Service Industrial Wholesale and Retail Index show immediate response to the Service Industrial Production Index and are influenced by till time 2.5, the impact gradually disappears. Lastly, the variance decomposition analysis shows that the changes of return of Service Industrial Production Index are dependent on those of the Service Industrial Wholesale and Retail Index. This implies that returns on the Service Industrial Production Index have a significant influence over returns on the Service Industrial Wholesale and Retail Index. It contributes to the understanding of market price formation function through analysis of detached the Service Industrial Production Index and Service Industrial Wholesale and Retail Index. Finally, our results can be used as a guide by the Korea Bank and Republic of Korea and as well as Statistics Korea.

Improvement plan for vegetables by introducing the production and shipment stabilization policy

  • Ryu, Sangmo;Han, Sukho;Jang, Heesoo;Kim, Donghwan
    • Korean Journal of Agricultural Science
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    • v.46 no.4
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    • pp.813-825
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    • 2019
  • This paper investigated the effects of a government production and shipment stabilization policy and the improvement plan for vegetables in Korea. In this study, a simulation focused on the changes in farm income for Chinese cabbages & radishes using scenarios. The result shows an increase in farm income according to the government policy. In the short-term, demand and supply are fixed, and the policy effect is positive due to the price support effect of the project. However, for mid- to long-term, the price decreases due to the expansion of supply by business beneficiaries, which is likely to be adversely affected by an unstable supply and demand. This increases the burden of government and local government subsidies. This phenomenon is expected to be amplified as the ratio of production and shipbuilding stabilization programs and items expand. When expanding items and adjusting and setting the percentage of participation in the project, it is desirable to set and operate the appropriate business ratio taking into consideration the demand. To improve the effectiveness of the policy, the following remedies were suggested. First, national supply and demand guidelines should be set up, and the autonomous supply and demand control of the producers should be guided by the different preservation according to the implementation of the supply and demand control obligation. As for detailed equipment, it is necessary to establish the reproduction price for each item, set the base price for each wholesale market, increase the incentive for the producers to participate, and fund a business budget to secure business stability.

Improvement in Chicken Meat Pricing System in Korea (한국의 닭고기 가격 결정 시스템 개선)

  • Kim, J.J.;Park, B.K.
    • Korean Journal of Poultry Science
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    • v.35 no.4
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    • pp.327-333
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    • 2009
  • In Korea chicken meat price is not determined in the auction markets, but it is artificially calculated using the live chicken price of one day before, transporting cost, converting rate of live chicken into carcass, and slaughtering cost. This calculated price is published through the mass media and used as the base for chicken meat transaction. By the way, since 85% of the Korean broiler industry is composed by the integrated system, the live chicken price is nothing to do with ex-factory price of chicken meat produced by the integrators. Under this pricing system, when we estimate the margin of the chicken meat through the marketing process, the margin of the integrator is fluctuated by the live chicken price of one day before, which is nothing to do with integrators; When the live chicken price is low, the margin of the integrators is low, but the margin of the selling agencies' is relatively high. On the contrast, when the live chicken price is high, the margin of the integrators is high, but the selling agencies' margin will be relatively low, because consumer's price could not be increased in parallel with increase of the live chicken price. Accordingly, the ex-factory price of chicken meat determined using the production cost of live chicken and slaughtering cost of the integrator by adding resonable margin of the integrator should be determined and published, so that it could be used for chicken meat transaction. In Japan the Zen-Noh Chicken Foods Corporation announce the ideal piece of chicken every morning, and all the transactions of the chicken meat will be determined based on this price. In Korea, it will be desirable to make bench marking from Japanese case, in other words the NH could announce the ideal price of chicken meat every morning, so that it would be the base price of chicken meat transaction. Even though the market share of the NH is less than 5%, its publicity should be accepted, since it is a subsidiary of the National Agricultural Cooperative Federation of Korea.

A Study on Marketing of Cultured Laver Products (양식해태의 유통에 관한 조사 연구)

  • 유충열
    • The Journal of Fisheries Business Administration
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    • v.4 no.1_2
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    • pp.19-57
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    • 1973
  • Laver io one of the most necessary and seasonal items in Korean food from oldtimes. Laver is lagely eaten in dried form, and its supply depends entirely upon culture weeds. The history of laver culture in Korea about sixty or seventy years is older than in Japan. Significance of laver culture is divided into two aspects, one is food supply in the nation, and the other is export to other countries. Houses engaged in laver culture are about foully thousands, and laver production in 1972 is estimated as 1, 3 bitten sheets. (1 sheet is a dried laver of 20 cm sq, in the shape of paper) Especcially meaning of layer production is the concentration of labour input, and systematic management of labour. From around 1920, the method of laver culture was introduced by Japanese Imperialism for mono culture in shallow seas, and mass products of laver is provided to Japan market, DOMESTIC MARKET Fundamental consume function calculates at below, $D_{(68_71)}$=16354 $Y^{0.471}$ $P^{-1.0662}$ where D is total layer demand, Y income variable, P price variable. It means income elasticity is 476. in the whole country, and price elasticity is 1, 07. But generally income elasticity is higher in urban area than in rural area, as shown at 1, 3 in Seoul city. Expence of laver in house expenditure is mutually correlated with another expence, See Table 12 about the relative function. See Table 14 and 16 about the relation between the gathering and the changes of price in auction, wholesale and retail price support system is for two effects, one of which is constraint of the upper price, the other is rise of the lower price. Before the system control, the equation in three year average calculated as below, $Y_{b}$ =18, 907.7455+15435.9364 t (r=0.89) where the origin t=0 is the November and the units are month. Post the system control, $Y_{p}$ =30, 047.9636+1, 631.1721t (r=0.97) therefore, this system has an effect only on the rise of lower price, Average annual margins of laver products at four market levels according to the consumer spent is below. EXPORTING MARKET Japanese demand function of laver products is, Log D=5, 289+1, 108 Log Y-1, 395 Log P (r=0.987) where D is Japanese laver demand, Y income variable, P price variable. according to which income elasticity is 1. 1 and price elasticity is 1.4. Laver production in 1970 tile highest record till then, is estimated as six billion sheets. But the recent improvement of laver culture techniques, the production of seeds and freezing storage of seeds has been stabilized. Futher new culture farms have been developed by means of break- water fences or by floating culture method. These improvements have been backed up with increased demand of laver products. Import quantity and price of Korean laver products are restrained by three organizations, that is producer, distributor and consumer. This relationship calculated by regression equation shows that import is influenced only producer organization, at the sacrifice of consumer profit. For increase to export of laver products, we urgently require to open foreign trade of laver products for Japanese consumer, .and Japan has political responsibility to solve Korean laver structure. But with long run timeseries, as regards Japanese production and import quantity, importing function shows increasing trend as below, 250 million sheets <3, 947.1674+0.005 $L_{g}$ >) 600 million sheets where $L_{q}$ is relative production quantity of laver in Japan. (unit; 100 thousand sheets) Our Export effort should be put on the highly processed products whithin the restraind quote.ote.

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