• 전기학회논문지
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• 제66권1호
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• pp.16-22
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• 2017

In order to reduce costs of electricity energy at periods of peak demand, there has been an exponential interest in Demand Response (DR). This paper discusses the effect on the participants' behavior in response to DR. Under the assumption of perfect competition, the equilibrium point of the electricity market with DR is derived by modeling a DR curve, which is suitable for microeconomic analysis. Cournot model is used to analyze the electricity market of imperfect competition that includes strategic behavior of the generation companies. Strategic behavior with DR makes it harder to compute equilibrium point due to the non-differential function of payoff distribution. This paper presents a solution method for achieving the equilibrium point using the best response function of the strategic players. The effect of DR on the electricity market is illustrated using a test system.

• The Journal of Asian Finance, Economics and Business
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• 제8권5호
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• pp.913-921
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• 2021

The objective of the study is to investigate the impact of the COVID-19 pandemic on Saudi Arabia stock market. The study relied on the data of the daily closing stock market price index Tadawul All Share Index (TASI), and the number of daily cases infected with COVID-19 during the period from March 15, 2020, to August 10, 2020. The study employs the Vector Auto-Regressive (VAR) model, the Impulse Response Function (IRF) and Autoregressive Conditional Heteroscedasticity (ARCH) models. The results of the correlation matrix and the Impulse Response Function (IRF) show that stock market returns responded negatively to the growth in COVID-19 infected cases during the pandemic. The results of ARCH model confirmed the negative impact of COVID-19 pandemic on KSA stock market returns. The results also showed that the negative market reaction was strong during the early days of the COVID-19 pandemic. The study concluded that stock market in KSA responded quickly to the COVID-19 pandemic; the response varies over time according to the stage of the pandemic. However, the Saudi government's response time and size of the stimulus package have played an important role in alleviating the impacts of the COVID-19 pandemic on Saudi Arabia Stock Market.

• 전기학회논문지
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• 제66권12호
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• pp.1705-1711
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• 2017

This paper analyzes the impact of DRA (Demand Response Aggregator) on market power when competing with power generation companies (Gencos) in the electricity market. If congestion occurs in the transmission line, the strategic choice of the power generation company increases exercise of market power. DRA's strategic reduction of power load impacts the strategy of Gencos, which in turn affects the outcome of the load reduction. As the strategy of Gencos changes according to the location of the congested transmission line, the impact on the market depends on the relative location of the congested line and the DRA.

• 전기학회논문지
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• 제66권8호
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• pp.1181-1186
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• 2017

The purpose of Demand Response is to reduce the cost of excessive resources and equipment by spontaneous load reductions at peak loads. Having enough power consumers participating in these schemes is key to achieving the goal. Demand Response Aggregator (DRA) is responsible for recruiting demand resources and managing them to participate in reducing the load. DRAs change the price elasticity of demand functions by providing incentives to demand response, thereby affecting price formation in the electricity market. In this paper, this process is modeled to analyze the relationship between DRA's strategic bidding and market outcomes and load reductions. It analyzes the results by applying to competition between DRAs, competition between DR and Gencos, and coexistence of DR load and non-DR load. It is noteworthy that we have found a phenomenon called the Balloon Effect.

• Current Photovoltaic Research
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• 제5권3호
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• pp.100-104
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• 2017

This paper analyzes the correlation between Net Benefit Test (NBT) and System marginal price (SMP), which has a significant impact on the allocation of demand response (DR) resources in resource scheduling and commitment (RSC) process, based on the performance data of the demand resource market which has been established in 2014. Demand resources compete with generation resources in the RSC process, and it is prescribed to use demand resources only when net benefit occurs. Analysis result shows that the larger the SMP than the Net Benefit Threshold Price (NBTP), the more the winning bid of demand response resource was. It is interpreted that the introduction of NBT in DR market is justified. The demand resource market has been steadily growing. It is required to expand the scope of resources up to the small-sized DR, and to expand the functionalities of demand resources not only in the current energy market but also in the reserve market in the future. In order for that, institutional improvements are required.

• The Journal of Asian Finance, Economics and Business
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• 제8권10호
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• pp.65-76
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• 2021

This study aims at investigating the effect of product innovation accounting on the market success of instant food and convenience food businesses in Thailand with customer response capability as the mediator. In addition, it examines the effects of management accounting systems, marketing intelligence, and technology orientation on product innovation accounting. The sample for this study is 258 instant food and convenience food businesses in Thailand. To test the research relationships, a structural equation model is used. The results of this study show that product innovation accounting has a significant effect on both customer response capability and market success. Similarly, customer response capability significantly leads to market success while it mediates the product innovation accounting-market success relationship. Testing the antecedents of the research relationships, management accounting system, marketing intelligence, and technology orientation potentially affect product innovation accounting. Accordingly, product innovation accounting is a key source of competitive advantage. Product innovation accounting must be recognized by company management as a strategic tool for competing in markets and environments. They must invest their resources and capabilities to create and develop product innovation accounting principles, as well as encouraging their staff to implement and use these principles in the workplace.

• Journal of Electrical Engineering and Technology
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• 제12권6호
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• pp.2157-2165
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• 2017

This study deals with the design of the mechanism in which demand response (DR) resources are traded in the power generation market. In general, a DR aggregator (DRA), which extends DR resources and provides technical support, is central to this mechanism. In this study, power users, called DR customer (DRC), participate in load reduction and are also modeled to participate directly in DR-related bidding. The DRA provides incentives to the DRC, indirectly impacting the market, and the DRC use the bid parameters strategically. We present the conditions for finding Nash Equilibrium (NE) in game problems of various participants including market operators, and analyze the characteristics of DRA and DRC related models. It also analyzes the impact of the participants on the market according to various types of competition and coalitions between DRA and DRC.

• 한국통신학회논문지
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• 제42권4호
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• pp.915-922
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• 2017

최근 지속적인 전력 수요 증가와 이에 따른 사회적 비용 및 갈등 해결을 위한 방안으로 수요자원 거래시장(Demand Response Market)의 활성화가 크게 대두되고 있다. 국내의 경우 2014년부터 수요자원 거래시장을 운영 중이나 대규모 수요자원 거래에 집중하고 있다. 하지만, 전력 소비 비중의 증가, 큰 감축 유동성, 항상 활용 가능, 사회 인식 개선 등의 면에서 소규모 전력 소비자의 시장 참여는 성공적인 수요자원 거래시장 운영의 핵심적 요소로 볼 수 있다. 이 논문은 2016년 여름 스마트폰 어플리케이션을 활용하여 5,000명 이상의 소규모 전력 소비자를 대상으로 한 인센티브 기반(incentive-based) 수요반응(Demand Response) 프로그램의 실제 시범운영 결과를 분석하고 그 효과를 검증하며, 이를 통하여 소규모 전력 소비자 대상 수요자원 거래시장의 가능성을 제시한다.

• Asian Journal of Innovation and Policy
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• 제4권3호
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• pp.397-409
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• 2015

Nowadays, crowdfunding presents a promising development. This research focuses on the influence of platform strategy and market response on the success of crowdfunding from the perspective of the elaboration likelihood model (ELM) theory. Detailed product specifications, crowdfunding difficulty coefficient, vivid advertising video such as introduction and music, and recommendations from relevant figures are all used to depict platform strategy. Meanwhile, we use the number of lovers, followers, comments and 1 RMB backers to measure the level of market response. And thus, we model the impact of platform strategy and market response on crowdfunding success with empirical studies based on 400 samples of observed value. We found firstly that there exist significant positive relations between the total amount of funds pledged and detailed product specification, vivid advertising video, recommendations from relevant figures and the number of 1 RMB backers. Secondly, the crowdfunding difficulty of projects affects negatively, and significantly, the total amount of funds pledged. Thirdly, the influence of the number of lovers and followers on funds pledged is not significant.

• 대한가정학회지
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• 제46권2호
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• pp.51-58
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• 2008

The purpose of this study was to analyze how the appreciation or recognition of quick response systems, with the utilization of technology, can improve operations for businesses in the DongDaeMoon fashion market. A survey was conducted from April 25 to May 10 in 2007, among owners and designers of wholesale shops in the DongDaeMoon fashion market. Data was collected from 270 subjects, and general descriptive and comparative statistical analysis was applied to acquire various parameters. Firstly, the product types within the DongDaeMoon fashion market were small and medium quantity batch production systems. The majority of businesses adopted the production strategy of outsourcing through subcontracted factories. To re-order, a fashion merchandising required 2 to 3 days. Secondly, the design sources of fashion merchandises were national fashion brands, popular items within the same industries, and also fashion magazines. New products was made within 4 days after a sample item was received. Business acquaintances were fashion retail shops of DongDaeMoon, and internet or home shopping companies. Thirdly, the recognition of importance and effects of quick response systems was difference between high and low group of the utilization of technology in the DongDaeMoon fashion market.