• 제목/요약/키워드: present value

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The Fundamental Understanding Of The Real Options Value Through Several Different Methods

  • Kim Gyutai;Choi Sungho
    • 한국경영과학회:학술대회논문집
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    • 한국경영과학회/대한산업공학회 2003년도 춘계공동학술대회
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    • pp.620-627
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    • 2003
  • The real option pricing theory has emerged as the new investment decision-making techniques superceding the traditional discounted cash flow techniques and thus has greatly received muck attention from academics and practitioners in these days the theory has been widely applied to a variety of corporate strategic projects such as a new drug R&D, an internet start-up. an advanced manufacturing system. and so on A lot of people who are interested in the real option pricing theory complain that it is difficult to understand the true meaning of the real option value. though. One of the most conspicuous reasons for the complaint may be due to the fact that there exit many different ways to calculate the real options value in this paper, we will present a replicating portfolio method. a risk-neutral probability method. a risk-adjusted discount rate method (quasi capital asset pricing method). and an opportunity cost concept-based method under the conditions of a binomial lattice option pricing theory.

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VHDL 설계 데이터베이스 구현 방법의 비교 연구 (A Comparative Study on Methods for Implementing VHDL Design Database)

  • 최승욱;최기영
    • 전자공학회논문지B
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    • 제32B권7호
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    • pp.966-973
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    • 1995
  • In this paper, we compare several methods for implementing a VHDL design database through a case study on VHDL tool development system. We implemented three versions of the VHDL design database which the VHDL tool development system is based on. The first version was coded in the C programming language following value-oriented paradigm. The second one was coded in the C++ programming language following object-oriented paradigm. The third one was implemented using an existing object-oriented database. Based on our experience, we present quantitatively the pros and cons of each implementation method. The value-oriented version was most difficult to implement but showed good performance. Compared to the value- oriented version, the C++ version was twice as easy to implement and showed about the same performance. Using an existing object-oriented database allowed easiest implementation but resulted in a 1.5 to 6 times slower version.

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공진화전략에 의한 다중목적 유전알고리즘 최적화기법에 관한 연구 (A Study on Multiobjective Genetic Optimization Using Co-Evolutionary Strategy)

  • 김도영;이종수
    • 대한기계학회:학술대회논문집
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    • 대한기계학회 2000년도 추계학술대회논문집A
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    • pp.699-704
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    • 2000
  • The present paper deals with a multiobjective optimization method based on the co-evolutionary genetic strategy. The co-evolutionary strategy carries out the multiobjective optimization in such way that it optimizes individual objective function as compared with each generation's value while there are more than two genetic evolutions at the same time. In this study, the designs that are out of the given constraint map compared with other objective function value are excepted by the penalty. The proposed multiobjective genetic algorithms are distinguished from other optimization methods because it seeks for the optimized value through the simultaneous search without the help of the single-objective values which have to be obtained in advance of the multiobjective designs. The proposed strategy easily applied to well-developed genetic algorithms since it doesn't need any further formulation for the multiobjective optimization. The paper describes the co-evolutionary strategy and compares design results on the simple structural optimization problem.

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온간, 열간 판재 성형을 위한 AZ31B의 기계적 성질 평가 (Evaluation of Mechanical Properties of AZ31B for Sheet Metal Forming at Warm and High Temperature)

  • 추동균;김우영;이준희;강충길
    • 한국소성가공학회:학술대회논문집
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    • 한국소성가공학회 2004년도 추계학술대회논문집
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    • pp.256-259
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    • 2004
  • In the present study, AZ31B sheets has a bad formability in room temperature, but the formability is improved significantly as increasing the temperature because of rolled magnesium alloy sheet has a hexagonal closed packed structure (HCP) and a plastic anisotropy. In this paper, after tensile test in various temperatures, strain rate, show the tensile mechanical properties, yield and ultimate strength, K-value, work hardening exponent(n), strain rate sensitivity(m). As temperature increased, yield, ultimate strength and K-value, work hardening exponent(n) are decreased but strain rate sensitivity(m) is increased. As cross-head-speed increased, yield, ultimate strength and K-value, work hardening exponent(n) are increased. And according to the temperature, how change the plastic anisotropy factor R. In addition, we observed how temperatures and cross-head-speed effect on microstructure.

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디젤엔진에서 연소실 형상이 화영온도 및 KL치에 미치는 영향 (Combustion Chamber Shape Effects on Flame Temperatgure and KL Value in a Diesel Engine)

  • 이선봉;이태원;하종률
    • 한국자동차공학회논문집
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    • 제7권8호
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    • pp.99-106
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    • 1999
  • The present study deals with the effect of combustion chamber shape on in-cylinder soot oxidation characteristics of a D.I . diesel engine. The analysed combustion chambers were a toroidal and a reentrant with a projection(Complex). The two-color method was used to measure in-cylinder flame temperature and KL value which is approximately proportional to the soot amount along the optical path. In addition, heat release rate was calculated from the in-cylinder pressure data. From these investigations , the soot oxidation of the reentrant and the complex which were strengthen squish flows went worse in late combustion period under heavy-load operation compared to that of the toroidal at retarded fuel injection timing . It might be the cause of the flame holding that squish lip depress the outflow of flame from the bowl to the entire combustion space.

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Evaluation of Electrokinetic Flow Mobility Using Isotacho-Electrophoresis Techniques

  • An, J.H.;Joo, Y.H.;Lee, C.Y.;Lee, Y.J.;Park, C.W.
    • Journal of Magnetics
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    • 제16권4호
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    • pp.444-448
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    • 2011
  • In the present study, we separated the marker particles from the suspending particle mixture solution using isotacho-electrophoresis technique, a novel quantitative ionic particle separation method, in the microchannel. A multiple stacking zone of the suspending particle was visualized with variations in electric field strength, pH value and concentration of the ionic solution. In particular, the electrophoretic mobility of ionic particle (fluorescein) was estimated based on the electrophoretic velocity value measured by the particle image velocimetry. As a result, isotacho-electrophoresis zones were clearly visualized as going downstream in the electric field. The particle migration velocity increased proportional to the applied voltage increase; it was also affected by the pH value variations in the ionic solution.

Optimizing Speed For Adaptive Local Thresholding Algorithm U sing Dynamic Programing

  • Due Duong Anh;Hong Du Tran Le;Duan Tran Duc
    • 대한전자공학회:학술대회논문집
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    • 대한전자공학회 2004년도 ICEIC The International Conference on Electronics Informations and Communications
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    • pp.438-441
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    • 2004
  • Image binarization using a global threshold value [3] performs at high speed, but usually results in undesired binary images when the source images are of poor quality. In such cases, adaptive local thresholding algorithms [1][2][3] are used to obtain better results, and the algorithm proposed by A.E.Savekis which chooses local threshold using fore­ground and background clustering [1] is one of the best thresholding algorithms. However, this algorithm runs slowly due to its re-computing threshold value of each central pixel in a local window MxM. In this paper, we present a dynamic programming approach for the step of calculating local threshold value that reduces many redundant computations and improves the execution speed significantly. Experiments show that our proposal improvement runs more ten times faster than the original algorithm.

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고객의 주문과 자율분산 생산시스템의 연동에 관한 연구 (A Study on the Order-Based Autonomous Distributed Manufacturing System)

  • 송재성;서만승
    • 한국정보시스템학회:학술대회논문집
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    • 한국정보시스템학회 2000년도 추계학술대회
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    • pp.1.4-4
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    • 2000
  • We present an autonomous distributed manufacturing system to plan the manufacturing process and the schedule based on a customer order, which considers the system efficiency as well as to the flexibly. In our system, an intermediate conceptual agent called process agent is introduced, of which the role is to create a plausible alternative for the working group to fulfill the given order. The process related decision such as process sequence, allocated facilities, schedule and cost is also made simultaneously. Given an order, several these process agents are created, and the optimum on is selected through a bidding mechanism. As a criterion of such a decision-making, we consider a concept of value which is determined by several factors such as cost, delivery, working ratio and so forth. Every agent consisting of the system makes decisions and actions so as to maximize its possessing value, and the overall behavior of the system is controlled by the value distribution.

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인터넷뱅킹의 현황과 금융환경 변화 (The Impact of Internet Banking on the Financial Market)

  • 유극렬;조권익
    • 한국전자거래학회지
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    • 제3권1호
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    • pp.155-173
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    • 1998
  • In this paper we present the development of internet banking and its impact on financial market. The internet banking has been introduced since 1990s, from which customers could obtain most financial services over internet, and will replace with the traditional banks. According to a survey, most of bankers agree that internet will play an important role in banking industry. The internet banking has an enormous impact on the transfer system and banking industry. The transfer system is divided into two-large-value transfer system and small-value transfer system, depending on the size of its transfer amount. The internet banking will enhance the transfer system, especially small-value transfer system. It will reduce the time lag between transaction of service and its payment. However, a congestion or a blockage in a part of network might stop the financial service all over the network, which is called "computer risk". As internet banking develops, banks have incentives to reduce their branches and have to compete with information-business companies which can offer financial EDI.

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꿈의 의미(意味) : 정신치료적적 관점에서 (The Meanings of Dream Contents in the Psychotherapeutic Perspective)

  • 이병욱
    • 수면정신생리
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    • 제8권2호
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    • pp.90-97
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    • 2001
  • The reason for exploring dreams is to understand the of patient's conflicts and unconscious motivation. Even if the therapeutic value of dreams is considerably faded these days, I can not deny that dreams are still very useful. From the beginning of human history, dreams have been an appealing subject for many people. In the past, dreams chiefly had the value of prophetic meaning, and in our tradition attention was paid to dreams in terms of good and bad dichotomy. Freud's discovery of the Unconscious and technical development of its exploration is reinforced by dream interpretation. In contemporary terms, although dreams are not the royal road to the Unconscious, they surely present a short-cut. I suggest that dreams as a treasure island of the Unconscious have a useful therapeutic value, and that stressing the importance of dreams is by no means anachronistic. I believe that practical sessions without dreams are like a river without bridges.

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