• Korean Journal of Construction Engineering and Management
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• v.22 no.1
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• pp.27-35
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• 2021

The study intends to identify the effects of infrastructure property on an apartment house by analyzing the price variation affected by factors constituting the quality of the transit services of each individual station in urban railway system based on hedonic price model. The research findings indicate that the prices depending on the transit users have increased from 7.8% to 12.2% in Seoul and decreased from 6.1% to 12.9% in Gyeonggi, which implies that a lower number of transfer users has a positive effect on housing prices in Seoul unlike Gyeonggi. It also is noteworthy that the distance to the urban railway station had a negative effect on housing prices in Seoul and positive effect in Gyeonggi. Taking these results together, in Seoul, the increase in the number of transit users had a negative effect on neighborhood housing prices. When analyzed by segments, however, an additional negative effect was observed only in the apartments located within the radius of 100 meters. It is also found that the impact of transit users varies according to the regional characteristics, such as the density of commercial facilities and the population density, and the spatial extent of negative effect also showed regional differences. These results provide implications for the planning of new stations, new cities, and land use of existing areas around stations.

• The Research Journal of the Costume Culture
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• v.13 no.1
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• pp.174-187
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• 2005

Recently the issue of brand equity has emerged as one of the most critical areas for fashion marketing management. Despite strong interest in the subject, there is little evidence of how brand equity is created by marketing mix elements and what their effects are. This study explores the influences of marketing mix elements on the brand equity of apparel products. Based on a literature review, a conceptual model for the quality, design, price, advertisements, and brand leadership on consumer's view on brand equity through brand identification and brand values was formulated and tested. For comparative purposes, two basic casual brands are tested, one is Polo and the other is Giodano. The subjects were Korean .50 college women living in Seoul and Daejeon. Results showed that brand equity of casual brand is affected by quality, brand leadership, design, price, advertisements. Therefore marketers should develop the core element to position its brand strategy to create competitive advantages.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.13 no.10
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• pp.4432-4439
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• 2012

Previous studies on art pricing mostly focused on auction data because of the limitation of non-auction market data. This study investigated on both auction and non-auction markets to see the difference in art pricing mechanisms of both markets. Especially, while prior hedonic models included only quantatative variables to predict art prices, we added a qualitative measure, artistic value of a artwork, along with the original hedonic model to develop a more comprehensive model, and tested if his change may make more precise predictions. As a result, when we did not divide our data into auction and non-auction groups, we did not find any significant difference between the original hedonic model and the new model including artistic value. However, when we separated non-auction group from auction group, we found that predicted prices in the new model showed significantly closer values to the actual prices. This study contributes to our knowledge on art pricing by showing that artistic value may have important but differential impacts on different art dealing channels.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.12 no.2
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• pp.629-639
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• 2011

This paper classifies factors that form Chinese contemporary art price which comes into the spotlight in the current fine art market and consider the characteristics that form price with Chinese art only. The data were analyzed applying hedonic price setting models which include market value as a dependent variable with the various characteristics that art includes as the individual factors. The result has found that Chinese contemporary art has the more effects on factors of artists than sales factors. The social factor is worthy of notice in that Chinese GDP jointly raised with the price of Chinese contemporary art. At this point that interest in and demand of Chinese contemporary art are higher, it is thought that the result of this study will raise comprehension and convincing purchase direction will be suggested to collectors.

• Korean Journal of Construction Engineering and Management
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• v.16 no.5
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• pp.77-85
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• 2015

The Hedonic Pricing model is the predominant approach used today to model the effect of relevant factors on real estate prices. These factors include intrinsic elements of a property such as floor areas, number of rooms, and parking spaces. Also, The model also accounts for the impact of amenities or undesirable facilities of a property's value. In the latter case, euclidean distances are typically used as the parameter to represent the proximity and its impact on prices. However, in situations where multiple facilities exist, multi-colinearity may exist between these parameters, which can result in multi-regression models with erroneous coefficients. This research uses Variance Inflation Factors(VIF) and Ridge Regression to identify these errors and thus create more accurate and stable models. The techniques were applied to apartments in Guro-gu of Seoul, whose prices are impacted by subway stations as well as a public prison, a railway terminal and a digital complex. The VIF identified colinearity between variables representing the terminal and the digital complex as well as the latitudinal coordinates. The ridge regression showed the need to remove two of these variables. The case study demonstrated that the application of these techniques were critical in developing accurate and robust Hedonic Pricing models.

• Asia Marketing Journal
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• v.24 no.3
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• pp.121-130
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• 2022

To achieve the widespread use of Mobility as a Service (MaaS), a novel transportation platform, it is important to increase consumers' intention to use MaaS. Therefore, this study clarifies the determinants of consumers' intention to use MaaS based on the UTAUT2 model. The research model is tested using structural equation modeling based on data from a web-based questionnaire survey of Japanese consumers. The results show that performance expectancy, social influence, hedonic motivation, and price value have significant effects on the intention to use MaaS. Moreover, the relationship between the intention to use MaaS and independent variables is moderated by old age. Theoretical and practical implications are discussed based on the findings.

• Korean Journal of Construction Engineering and Management
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• v.16 no.1
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• pp.74-81
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• 2015

As one of urban infrastructure system, the electricity substation is critical for urban life and industrial activity as the electricity demands get higher than ever. However the substation is generally regarded as unpleasant or dangerous facility, which finally results in the continuous opposition movement by resident due to the belief of unidentified negative effect in apartment prices. Accordingly, as the scientifically objective and quantitative analysis is required to solve the social conflict, this study intends to examine the variation affected by urban infrastructure system, expecially for substation. After the independent variable defining the price of apartment and the dependent variable, which is apartment price, are identified and their spatial data has been filed, the forecasting model has been developed through the hedonic price function as well as artificial neural networks system. The research finding indicated that the spatial range affected by substation is not notable and the range of some case was applicable for less than 600m. It is expected that these research findings can be applied for establishing the one of solid cases for the analysis of economical effect to local housing market by the urban infrastructure system.

• Asia pacific journal of information systems
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• v.33 no.2
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• pp.318-341
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• 2023

Mobile TV refers to the service that provides live broadcasting and video-on-demand content through a mobile device. In addition to the advertisement as the early-stage revenue model, the paid subscription model has emerged as a more sustainable revenue source for mobile TV services. In this study, with the surveys of 450 free mobile TV users, we examine the motivational factors influencing their intention to adopt a paid subscription model. Results show that three extrinsic motivations, price fairness, subjective norm, and mobile TV utilization, are positively associated with free users' paid subscription intention. In contrast, intrinsic motivations, such as hedonic need, spatiotemporal convenience, and self-efficacy, have no significant influence on the intention. We also found that the expected value is positively associated with attitude toward mobile TV service, also positively influencing the paid subscription intention.

• Korean Journal of Human Ecology
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• v.20 no.4
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• pp.849-860
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• 2011

This study explores a structural model to examine the relationship between web browsing motivation, retail strategy and purchase conversion for apparel on shopping websites. A self-administered questionnaire based on existing scales includes web browsing motivation, retail strategy, and purchase conversion intention of apparel on the shopping websites. A total of 499 usable questionnaires were obtained from consumers aging 20 to 49 who reside in metropolitan cities in Korea. For data analysis, descriptive statistics, exploratory factor analysis, confirmatory factor analysis, and structural equation models were used via SPSS 12.0 and LISREL 8.8. Findings concluded that web browsing motivations consisted of three factors: hedonic, informational, and recreational browsing for apparel. Hedonic browsing had a negative effect on purchase conversion intention, whereas informational browsing had a positive effect on the purchase conversion intention for apparel on shopping sites. Retail strategies on the website were classified into service, merchandise assortment, and price & promotion; the three elements of retail strategies mediated the relationship between web browsing motivations and purchase conversion intention for apparel. Specially, merchandise assortment had significantly direct effect on the purchase conversion intention of apparel on shopping websites. Managerial implications were discussed for fashion marketers to develop retail strategies and web content in order to convert web browsers or visitors into purchasers.

• Journal of Environmental Impact Assessment
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• v.23 no.5
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• pp.323-336
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• 2014

Using hedonic price method, this paper analyzes the impact of restriction for water quality protection on property value with the officially announced price of reference land in the city of Namyangju in 2012 to evaluate Water Use Fee, based on beneficiary pays principle, levied on the downstream area of the Han River in Korea. The results from the regression analyses of the models used show that the double-log model is the preferred model in the case of Namyangju. Using the double-log model, the total compensation for the city of Namyangju is estimated to be 8.6 trillion won with 95% confidence interval between 4.4 trillion and 12.4 trillion won. Under the perpetuity compensation scheme at the discount rate of 10%, the estimated annual compensation is 0.9 trillion won with 95% confidence interval between 0.4 trillion and 1.2 trillion won. This is more than Water Use Fee collected in 2012 for the Han River, which is approximately 0.5 trillion won. Considering the size of the restricted area of the Paldang area, which is more than 18 times of that of Namyangju, the rate of Water Use Fee, which is based on beneficiary pays principle and imposed on the residents of the downstream area, needs to be increased to sufficiently compensate the economic loss caused to the upstream areas of the Han River in Korea.