• Management & Information Systems Review
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• v.9
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• pp.65-80
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• 2002

As the growth of Internet business, many web sites have been developed their own Internet business strategies. Yet, many web sites have difficulties to make profit. In this paper, an economic model is developed to analyze web sites' quality and pricing strategies when they initiate their services as free services and develop advertising services and other charged services. By analyzing the economic model, optimal quality and prices was found. And by analyzing the optimal strategy, I found that web sites should properly decide their market share on initial customer. Finally, the importance of web sites' productivity to make profit is emphasized.

• Asia pacific journal of information systems
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• v.3 no.2
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• pp.74-92
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• 1993

The purpose of this paper is to propose a procedure for economic evaluation of computerization of the office works in business. In particular, this paper is concerned with how to estimate elemental costs and benefits attributable to the computerization of the office work. This paper includes also how to integrate the elemental costs and benefits so that measures for economic evaluation may be obtained.

• Journal of Korean Institute of Industrial Engineers
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• v.23 no.1
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• pp.115-127
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• 1997

A GDHS(Geothermal District Heating System) is a heating system supplying a group of districts with heat extracted from geothermal sources. The advantages of GDHS include saving fuel consumption as well as reducing air pollution. This paper presents a case study for the economic feasibility model and analysis of a GDHS with which central/individual heating systems are replaced. Configuring to a simplified GDHS which consisits of subsurface systems, surface systems, and transmission/distribution systems, we find out the properties of the system and the model parameters affecting the initial investment/operating costs in order to develop a classical economic feasibility model given geothermal temperature. Based on our model parameter space, we analyzed the geothermal development project of the Jejoo Island probabilistically given prior information such as the expected geothermal power, the demand size and the length of transmission/distribution pipes.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.29 no.1
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• pp.143-150
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• 2006

Box-Cox model and T-factor method have been widely used to measure economic depreciations for industrial property. The Box-Cox model which combines economic efficiency with depreciation pattern is here extended to the reliability function. To do so a Rayleigh distribution which has been used to estimate the reliability of current assets was chosen as an efficiency curve of marginal productivity. Such an approach provides the possibility to classify the efficiency curves into four categories. It is also possible to analyze the types of depreciation curves. Therefore, the power family of a non-linear Box-Cox model could be set at certain constant values, then the model can be transformed into a linear model to estimate the economic depreciation rates by utilizing the reliability function. Estimating the resultant linear regression equation requires minimal number of observations, while at the same time facilitating the test of hypothesis on depreciation rates.

• International conference on construction engineering and project management
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• 2005.10a
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• pp.606-614
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• 2005

This paper deals with new realizations of research, scientific development, managerial and economic optimizations for prefabricated building systems. In the literature, all scientific fields are worked out based on the efficiencies, costs, benefits, choice of execution design, technical demands, aesthetical point of view, as well as the total economics. In the present example of a school-building for communities in the third world, the following criteria have been regarded: The optimal superstructure of prefabricated concrete building systems; the particularity of countries of the Third World (e.g. the climate, the political and the economic conditions); the time for construction and necessary innovative developments for an economically optimized superstructure. Added to this are alternative construction-methods and costs for a simple but variable system which can be adapted to changing functions, where variability should be the main point. For example, a school building that is to be adapted by varying number of rooms to cater for the growing number of pupils.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.45 no.4
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• pp.31-41
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• 2022

As the environmental impacts of fossil fuel energy sources increase, the South Korean government has tried to change non-environmental-friendly enery sources to environmental-friendly energy sources in order to mitigate environmental effects, which lead to global warming and air pollution. With both a limited budget and limited time, it is essential to accurately evaluate the economic and environmental effects of renewable energy projects for the efficient and effective operation of renewable energy plants. Although the traditional economic evaluation methods are not ideal for evaluating the economic impacts of renewable energy projects, they can still be used for this purpose. Renewable energy projects involve many risks due to various uncertainties. For this reason, this study utilizes a real option method, the Geske compound model, to evaluate the renewable energy projects on Jeju Island in terms of economic and environmental values. This study has developed an economic evaluation model based on the Geske compound model to investigate the influences of flexibility and uncertainty factors on the evaluation process. This study further conducts a sensitivity analysis to examine how two uncertainty factors (namely, investment cost and wind energy production) influence the economic and environmental value of renewable energy projects.

• Journal of Electrical Engineering and Technology
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• v.3 no.3
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• pp.320-330
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• 2008

This paper presents an improved dynamic programming (IDP) approach to solve the economic power dispatch problem including transmission losses in power systems. A detailed mathematical derivation of recursive dynamic programming approach for the economic power dispatch problem with transmission losses is presented. The transmission losses are augmented with the objective function using price factor. The generalized expression for optimal scheduling of thermal generating units derived in this article can be implemented for the solution of the economic power dispatch problem of a large-scale system. Six-unit, fifteen-unit, and forty-unit sample systems with non-linear characteristics of the generator, such as ramp-rate limits and prohibited operating zones are considered to illustrate the effectiveness of the proposed method. The proposed method results have been compared with the results of genetic algorithm and particle swarm optimization methods reported in the literature. Test results show that the proposed IDP approach can obtain a higher quality solution with better performance.

• Journal of the Korean Operations Research and Management Science Society
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• v.28 no.1
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• pp.115-129
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• 2003

This paper Is concerned with a new techno-economic model Ing of ATM based h19h-speed networks. Coupled with advances of technology, the rapid development of new telecommunication services significantly increases the magnitude of risk in making an Investment decision. Naturally, the success of techno-economic modeling depends on how effectively we manage underlying risk factors such as cost and technology To deal with risk factors, we need to rely on modern decision and risk analysis while Implementing mathematical optimization for solving a complex capacity expansion problem of telecommunication systems during the planning period. We provide a case study that will enhance our understanding of the techno-economic analysis for emerging telecommunication systems.

• Journal of the Society of Naval Architects of Korea
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• v.30 no.1
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• pp.10-19
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• 1993

Design optimisation generally necessitates a tool of assessing the economics of designs. This paper proposes a method of assessing the economics of marine electric generating systems. The pay back period(PBP) and the net present valuve(NPV) of the investment for a designed project are properly converted into a economic index. The mechanical factors dominating the easiness in operating the system are also assessed and quantified to form a index which eventually is added to the economic index producing a comprehensive economic index. The method has been tested on a design example and it's validity has been shown.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.28 no.3
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• pp.1-9
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• 2005

We developed the logical methods to analyze economic impacts of standardization and cleared up effects of performing KS in micro and macro aspects. This study is performed through analysing foreign studies and results from surveys. The advanced methods performing standardization as a form of 'Korean industrial standards' are suggested here, which are based on results of this study. The major consequences of this study are followings. The micro economic impact is that each company gets 604.5 millions won a year through performing KS A and F(discount rate 4.5%) and 1.46 trillions won is the macro economic impact through performing total KS A and F, which comes to 0.245% of GDP.