• Title/Summary/Keyword: house price

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Co-creation and Personalization as Incentive Mechanisms of Utilizing External Innovation Sources: Which Performs Better?

  • Lee, Sangjic;Nishiyama, Kohei;Kimita, Koji;Nishino, Nariaki
    • Asian Journal of Innovation and Policy
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    • v.10 no.3
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    • pp.274-293
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    • 2021
  • Utilizing outside knowledge for innovation is an important task for companies in the competitive economy. Due to the rapid advance in the internet communication technology, the number and quality of innovation sourcing methods are increasing. We select co-creation, personalization and in-house R&D as the representative forms of innovation sourcing and suggest a game theory model that enables the comparative analysis between them. The decision and surplus outcome of the innovation mechanisms are compared under various settings of the input parameters of the model. The stakeholders voluntarily participate into all mechanisms when the product price is moderately high and the participation cost is low, while co-creation is the only feasible one when the product quality is niche. When the participation cost is relatively high, personalization outperforms co-creation.

Analysis of Important Features for Predicting House Prices (주택가격 예측을 위한 주요 특성 분석)

  • Jun-Wan Kim;Seung-June Beak;Juryon Paik
    • Proceedings of the Korean Society of Computer Information Conference
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    • 2023.01a
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    • pp.27-29
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    • 2023
  • 불안정한 부동산 가격은 지속적인 사회 문제로 거론되고 있는데 이는 부동산 매매 가격을 예측할 수 있는 정확한 지표가 체계적이고 구체적으로 확립되지 않았기 때문이다. 본 논문은 가격변동에 주요하게 영향을 미치는 특성을 파악하여 가격 예측 지표로 활용하기 위해 머신러닝 모델을 적용하여 특성 분석을 수행한다. 이를 위해 한국부동산원에서 제공하는 2021년 10월부터 2022년 9월까지 1년간의 역 주변 500M 이내 거래 데이터 약 30만 6천 개를 어떠한 과정으로 전처리하여 머신러닝 모델에 적용하였는지 기술한다.

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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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A Study on the Financial Strength of Households on House Investment Demand (가계 재무건전성이 주택투자수요에 미치는 영향에 관한 연구)

  • Rho, Sang-Youn;Yoon, Bo-Hyun;Choi, Young-Min
    • Journal of Distribution Science
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    • v.12 no.4
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    • pp.31-39
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    • 2014
  • Purpose - This study investigates the following two issues. First, we attempt to find the important determinants of housing investment and to identify their significance rank using survey panel data. Recently, the expansion of global uncertainty in the real estate market has directly and indirectly influenced the Korean housing market; households demonstrate a sensitive reaction to changes in that market. Therefore, this study aims to draw conclusions from understanding how the impact of financial strength of the household is related to house investment. Second, we attempt to verify the effectiveness of diverse indices of financial strength such as DTI, LTV, and PIR as measures to monitor the housing market. In the continuous housing market recession after the global crisis, the government places top priority on residence stability. However, the government still imposes forceful restraints on indices of financial strength. We believe this study verifies the utility of these regulations when used in the housing market. Research design, data, and methodology - The data source for this study is the "National Survey of Tax and Benefit" from 2007 (1st) to 2011 (5th) by the Korea Institute of Public Finance. Based on this survey data, we use panel data of 3,838 households that have been surveyed continuously for 5 years. We sort the base variables according to relevance of house investment criteria using the decision tree model (DTM), which is the standard decision-making model for data-mining techniques. The DTM method is known as a powerful methodology to identify contributory variables for predictive power. In addition, we analyze how important explanatory variables and the financial strength index of households affect housing investment with the binary logistic multi-regressive model. Based on the analyses, we conclude that the financial strength index has a significant role in house investment demand. Results - The results of this research are as follows: 1) The determinants of housing investment are age, consumption expenditures, income, total assets, rent deposit, housing price, habits satisfaction, housing scale, number of household members, and debt related to housing. 2) The impact power of these determinants has changed more or less annually due to economic situations and housing market conditions. The level of consumption expenditure and income are the main determinants before 2009; however, the determinants of housing investment changed to indices of the financial strength of households, i.e., DTI, LTV, and PIR, after 2009. 3) Most of all, since 2009, housing loans has been a more important variable than the level of consumption in making housing market decisions. Conclusions - The results of this research show that sound financing of households has a stronger effect on housing investment than reduced consumption expenditures. At the same time, the key indices that must be monitored by the government under economic emergency conditions differ from those requiring monitoring under normal market conditions; therefore, political indices to encourage and promote the housing market must be divided based on market conditions.

Estimating WTP for the reduction of disamenity in the Seoul Metropolitan Area Landfill site using the Hedonic Pricing Model (헤도닉가격모형을 이용한 수도권매립지 유발 비효용(disamenity) 감소에 대한 지불의사액 추정)

  • Kang, Heechan
    • Environmental and Resource Economics Review
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    • v.29 no.3
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    • pp.335-362
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    • 2020
  • Using the Hedonic pricing model using Box-Cox transformation, this paper estimated the marginal effect (implicit price) of odors from landfill in the metropolitan area on housing prices and the willingness to pay for changes in certain odor conditions. This paper utilized the proximity from the landfill in the metropolitan area as a environmental variable, and analyzed the effect of various housing characteristic variables on the sale price of apartments within a radius of 5 km from the landfill. In particular, because odors factor have various heterogeneity, we applied hedonic price models instead of stated-preference methods with various types of functional forms through Box-Cox transformation, considering the heterogeneity of each region. Estimates show that the marginal value (implicit price) for the distance from the odor source was 0.227 to 0.533 depending on the function type of the estimated model. In addition, when other house factors are the same, the marginal willingness to pay for a distance of 1km from the odor source was calculated to be 16.79 to 51.76 thousand dollar depending on the type of function. Finally for the general Box-Cox model, the annual WTP was estimated to be 3,229dollar.

An Analysis on Predictors of Move Intention to Silver Town in Jeju Island (실버타운 입주의도 예측요인에 대한 분석)

  • Hong, Yeon-Sook
    • Korean Journal of Social Welfare
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    • v.58 no.3
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    • pp.313-340
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    • 2006
  • The purpose of this study was to examine predictors of move intention to silver town in Jeju Island. Participants were 449 middle age and elderly who live in Seoul, Gyungido, Inchun Metropolitan and Jeju island. Participants were completed a questionnaire and/or structured interview that included measures of socioeconomic variables, motivation to move, determinants of move selection, conditions of location, and preparation for old age. Results of descriptive analysis revealed that cognition level of sliver industry and silver town was relatively high and medical service was the best necessary field, followed by field of leisure activity, house, life and finance. Logistic regression analyses on the effects of socioeconomic variables on move intention indicated that region, occupation and house ownership had significant effects on move intention to silver town. Result of motivational effect on move intention revealed that solution of offspring's burden was the most important factor, followed by convenient life of the aged, enjoyment of freedom for the elderly life. Result on the influence of determinants of move selection indicated that medical service facilities, resort facilities and leisure, cultural service facilities had significant effect on move intention. Among conditions of location for Jeju island, mild climate, comfort environment and low-price were significant predictors on move intention. Overall, result on relative influence of individual factors indicated that low price factor was the most important predictor, followed by resort facilities, cognition on necessity of silver town, enjoyment of freedom for the elderly life, leisure cultural service facilities, and medical service facilities.

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A Study on the Effect of China House Prices on Bank Loan and Management Stability (중국 부동산 가격이 은행대출 및 경영안정성에 미치는 영향)

  • Bae Soo Hyun
    • The Journal of the Convergence on Culture Technology
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    • v.10 no.1
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    • pp.153-158
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    • 2024
  • Recently, concerns about the spread of credit risk in China's real estate market are gradually increasing. Therefore, it is very meaningful to diagnose the management stability of Chinese commercial banks. This study analyzes the impact of housing prices on the loan proportion and management stability of Chinese commercial banks. In addition, we classify Chinese commercial banks according to size and verify whether there are differences in loan proportion and management stability. If there is a difference by scale, the effect of interaction with housing price changes is also verified. The analysis results are summarized as follows. First, it was found that as the housing price growth rate increases, the proportion of loans from Chinese commercial banks increases. Second, as the rate of increase in housing prices and the proportion of total loans increases, management stability appears to decrease. Third, larger banks were found to have a higher proportion of loans, and smaller banks were found to have greater management stability. The results of this analysis show that Chinese commercial banks' aggressive expansion of their loan proportion is lowering their management stability. Therefore, it is necessary to adjust the loan ratio to the appropriate size level and secure stability with differentiated strategies according to the loan ratio

Recognition of Reasonableness about the Comprehensive Real Estate Tax Rates and Objects (종합부동산세 세율의 적정성과 정책적 목적에 대한 인식 분석)

  • Sim, Won-Mi;Lee, Chan-Ho
    • The Journal of the Korea Contents Association
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    • v.8 no.10
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    • pp.129-141
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    • 2008
  • Comprehensive real estate taxes needs to be improved so that it performs its intended functions by realizing fair taxation and stabilizing the price of real estate, and ultimately attains social justice in Korea. This study analyzed the current state of comprehensive real estate taxes through a questionnaire survey, and the results are summarized as follows. First, in the analysis of people's perception on the adequacy of the tax rate of comprehensive real estate taxes, those who owned a house worthy of 600 million won or a higher value as an object of real estate tax perceived the adequacy of the tax rate more negatively than those who owned a house of less than 600 million won. The same result was observed for comprehensive real estate taxes on lands. Second, in the analysis of the contribution of comprehensive real estate taxes to the accomplishment of policies, the respondents showed a high frequency of positive replies to some of policies related to comprehensive real estate taxes.

Home Financing and its Debt Load of Home-owning Households in korea (권역별 주택금융부채 실태)

  • Han, Ji-Young;Lee, Hyun-Jeong
    • Proceeding of Spring/Autumn Annual Conference of KHA
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    • 2011.04a
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    • pp.296-300
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    • 2011
  • It's well known that housing is one of the largest holdings in household wealth and at the same time the majority of households highly concentrate on it for their wealth accumulation. Coupled with a low interest rate and increasing housing price, the rationale is conspicuous and the propensity to debt-financed consumption becomes strengthened. This research was to examine the risk of home financing. In doing so, the study utilized several secondary data to identify the characteristics of households who finance loans for home buying in three regions of the nation - so-called Bubble 7, Seoul Metropolitan Area, and others. Based on the 2009 KB survey, the major findings were as follows: the majority of the studied households in Seoul Metropolitan Area who owned a house lived in rental housing, housing accounted for 89% of the household wealth, and home loans taken on were a ballon payment amortized for a short-term period (5 years) with an adjustable interest rate. In addition, the payment method most of the households depend on is income. The financing mechanism fueled debt load of the households, and further they are financially very vulnerable to such factors as increase in interest rate, unemployment and market downturn. In the absence of understanding the financial system, the consumption behavior leads to house-poor, so that financial accountability and ethics are addressed while the intervention of the government in home financing system should be more cautious but stimulate financial soundness in household wealth accumulation.

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An Experimental Study on the Spray and Lean Combustion Characteristics of Bio-enthanol-Gasoline Blended Fuel of GDI (직접분사식 바이오에탄올-가솔린 혼합연료의 분무 및 희박연소 특성에 관한 실험적 연구)

  • Park, Gi-Young;Kang, Seok-Ho;Kim, In-Gu;Lim, Cheol-Soo;Kim, Jae-Man;Cho, Yong-Seok;Lee, Seong-Wock
    • Journal of ILASS-Korea
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    • v.19 no.3
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    • pp.115-122
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    • 2014
  • As a demand for an automobile increases, air pollution and a problem of the energy resources come to the fore in the world. Consequently, governments of every country established ordinances for green-house gas reduction and improvement of air pollution problem. Especially, as international oil price increases, engine using clean energy are being developed competitively with alternative transportation energy sources development policy as the center. Bio ethanol, one of the renewable energy produced from biomass, gained spotlight for transportation energy sources. Studies are in progress to improve fuel supply methods and combustion methods which are key features, one of the engine technologies. DI(Direct Injection), which can reduce fuel consumption rate by injecting fuel directly into the cylinder, is being studied for Green-house gas reduction and fuel economy enhancement at SI(Spark Ignition). GDI(Galoine Direct Injection) has an advantage to meet the regulations for fuel efficiency and $CO_2$ emissions. However it produces increased number of ultrafine particles, that yet received attention in the existing port-injection system, and NOX. As fuel is injected into the cylinder with high-pressure, a proper injection strategy is required by characteristics of a fuel. Especially, when alcohol type fuel is considered. In this study, we tried to get a base data bio-ethanol mixture in GDI, and combustion for optimization. We set fuel mixture rate and fuel injection pressure as parameters and took a picture with a high speed camera after gasoline-ethanol mixture fuel was injected into a constant volume combustion chamber. We figured out spraying characteristic according to parameters. Also, we determine combustion characteristics by measuring emissions and analyzing combustion.