• Environmental and Resource Economics Review
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• v.16 no.2
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• pp.239-273
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• 2007

Bunker-C is sold at the different price in the market for international bunkering and for export, though the quality of bunker-c is not much different in two markets. The price difference in two markets tends to increase since 2002 in Korea. This study shows that there is a possibility for a structural change in the price difference in two markets in Korea around June, 2002. In the search for possible explanations for this structural change, empirical analyses found that the price difference in Singapore, which had not have any explanatory power before June, 2002, has explained the price difference in Korea after July, 2002. Other explanatory variable for the price difference was the growth rate of crude oil price in the previous period. The empirical results suggest that the price difference in bunkering market and export market might be explained by the price discrimination which is adopted as a competitive strategy by oil companies in competing with Singapore.

• Journal of the Korean Society of Clothing and Textiles
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• v.37 no.5
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• pp.645-654
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• 2013

This study investigated the difference of reference price, preference and quality perception of high functional underwear according to innovation cues. High functional underwear was selected as a research stimulus due to its technological innovative characteristics. A total of 93 male university students participated as subjects and data were collected by simple random experimental design operationalized with three types of innovation stimulus cues. Two types of internal reference price perception-expected price and fair price, preference, and 9 items of product quality perception-8 functional properties and overall quality of stimulus were measured with a questionnaire. The result supported the difference of reference price and quality perception by product innovation cue. The higher cue level group perceived two types of reference price and the overall quality higher than the lower cue level group. The difference of the expected price and fair price, the influence of functional properties on overall quality, and relations of the variables were discussed in depth.

• Fashion & Textile Research Journal
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• v.17 no.2
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• pp.203-215
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• 2015

This study classifies vanity into groups, analyzes age differences and categorizes price attitudes toward apparel products. Questionnaires were administered to 461 college students living in Daegu City and Kyungbok province. Data were collected using frequency, factor analysis, cluster analysis, correlation analysis, regression analysis, ANOVA, Duncan-test, and t-test. The findings were as follows. College student vanity was classified into three groups of appearance/ achievement pride, low vanity, and appearance/achievement concern. Vanity showed a significant correlation with sub-variables of age difference and price attitude towards apparel products. Appearance pride and achievement concern (sub-variables of vanity) had a significant effect on the conspicuous of price attitude toward apparel products. Appearance pride and Appearance concern (sub-variables of vanity) had a significant effect on information of price attitude toward apparel products. Gender of college students showed a distinction insub-variables of vanity factors such as appearance concern and price attitude toward apparel products such as information, quality, and using coupons. Male students were distinct in look and health as well as age differences by group; female students were distinct in age perception differences (a sub-variable of age difference). Both male and female students showed differences in conspicuousness (a sub-variable of price attitude) toward apparel products by group.

• Fashion & Textile Research Journal
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• v.26 no.3
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• pp.239-250
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• 2024

This study aims to investigate the factors influencing donation intention when the option to donate is presented during a purchase decision. Through an experimental design, we examined how price differences and reference group effects impact donation intention. We created stimuli with three price difference conditions (high, low, and control) and two levels of referent power (high and low), and involved 480 Korean consumer panels in the experiments. After controlling for psychological reactance levels, a two-way MANCOVA confirmed the main effects of price difference and referent power but found no interaction effect between these variables. Notably, consumers were less likely to feel guilty for not selecting the donation option when its price was slightly higher than that of the non-donation option, compared to the scenario where the prices were the same. Additionally, consumers exposed to high referent power experienced greater irritation, guilt, and shame if they did not choose the donation option compared to the low referent power group. Multiple regression results showed that guilt significantly influenced the intention to purchase a donation option, whereas irritation and shame did not. These findings suggest that understanding situational factors such as price differences and referent power can help develop effective marketing strategies and encourage voluntary participation in donations.

• Journal of the Korean Operations Research and Management Science Society
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• v.10 no.1
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• pp.31-40
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• 1985

When an economy has institutional price constraints the relationship between market prices and shadow prices is not yet fully investigated. A pure consumption economy is considered where market prices guide the consumption behavior and shadow prices measure the social value of resources. In this case we show that if the utility function is additively separable there exists a complementarity relation between the difference of the market price and the shadow price and the difference of the market price and the regulated upper (or lower) bound.

• The Journal of Fisheries Business Administration
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• v.44 no.1
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• pp.59-70
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• 2013

The purpose of this paper is to integrate various models of price formation and let the data choose the most proper model. After the data choose the proper model, one can analyze the price formation process and demand structures for fishery resources under the restriction of Korean fisheries regulations. This study suggests the integrated model including quasi-linear price formation model, Translog price formation model, AIDS price formation model and Lewbel price formation model as level variables. It also suggests another integrated model including AIDS price formation model, Rotterdam price formation model, Latinen-Theil price formation model and Neves price formation model as difference variables. The empirical results show that the AIDS price formation model is the most preferred in both level and difference variables of fishery resources. The estimated parameters show that all sample species have (-) sign of price flexibilities, thus following the law of demand. The scale flexibilities of all species are estimated as (-) sign, thus being adapted to the theory. The contribution and results are summarized as follows. First, the integrated model of fishery market demand has been developed and the data can choose the proper model without arbitrary choice of the researcher. Second, the fishery market demand structure could be analyzed in a way different from the ordinary demand analysis, which is based upon price flexibility and scale flexibility. Third, the integrated model for fishery resources can be used easily when catching restrictions are imposed by policies.

• Asia-Pacific Journal of Business
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• v.15 no.2
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• pp.207-222
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• 2024

Purpose - This study investigates whether the lagged price difference ratio between preferred and common stocks is related to the return and closing price of the preferred stock using three panel models. Design/methodology/approach - As a first step, we use a two-way fixed effect panel model with stationary preferred stock returns as a dependent variable. For robustness, we then apply the autoregressive distributed lag model (ARDL) and error correction model (ECM) with nonstationary closing prices of the preferred stocks as a dependent variable and compare the results of each model. The ARDL and ECM models provide an advantage of estimating a long-run equilibrium equation together if a long-run relationship exists between the two time-series variables compared to the fixed effect model. Findings - Our sample consists of 107 preferred stocks with at least four years of daily observations as of the end of December 2023. The coefficients of the error correction terms in the ARDL and ECM models are highly statistically significant, approximately -0.08. This indicates that the disequilibrium between the closing prices of common and preferred stocks adjusts by about 8% per day toward equilibrium. In all three models, the price difference ratio on day t-1 was statistically significant in explaining the preferred stock returns or closing prices on day t, implying that trading based on the previous day's price difference ratio is effective for one day. Research implications or Originality - Furthermore, the returns on preferred stocks are higher for firms with a lower proportion of foreign investors or a lower foreign market capitalization of preferred stocks. This suggests that foreign investors with informational advantages do not actively engage in profit-taking by trading preferred stocks, thus not narrowing the price difference. In summary, the recent surge in preferred stock prices is likely driven mainly by the irrational behavior of retail investors.

• Journal of the Korean Home Economics Association
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• v.28 no.1
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• pp.57-66
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• 1990

The purpose of this study was to investigate the analytical model of the implicit price according to objective and subjective characteristics of housing. The hedonic price regression was used for estimating the implicit price. The subjectives of this study were 1,143 dwellers who live in Seoul metropolitan area. Taejeon, and Jeonju. Satistical analyses were conducted using frequencies, percentiles, mean, and multiple regression. The major findings were as follows: 1. There was a significant difference in the implict price of the apartment between owners and renters. 2. There was a sginificant difference in the implicit price of the apartment among Seoul metropolitan area, Taejeon, and Jeonju. 3. Using a stepwise multiple regression method, the order of variables as they were entered in the model were different between tenure types (owner/renter), and regions(Seoul metroplitan area/Taejeon/Jeonju). 4. The linear model was the most appropriate noe which explained the housing price. 5. Subjective characteristics of housing in Taejeon and Jeonju had an effect on the housing price more than those in Seoul metropolitan area.

• Culinary science and hospitality research
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• v.15 no.4
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• pp.115-130
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• 2009

The price hike of university meal service hasn't increased as much as the rise in prices. Accordingly, it is necessary to make the school meal service better and make its image students think of improved, and it needs a proper increase. This study examines the permission evaluation of price hike of university meal service by analyzing students' behavior of using school meal service, restaurants they use, the price range of the meal service. It also investigates how the management of university meal service influences its price hike rate. The result of the study is as follows. Students are sensitive to price increase of school meal service because it hasn't been improved compared with its price. As a result of the evaluation of satisfaction with price in school meal service, its quality is bad compared with the restaurants outside school even though there isn't much difference between their prices. In addition, the cross tabulation analysis shows that there is significant difference between the restaurants students use and the price hike rate; there isn't significant difference between the price range of the meal service and the price hike rate; there is significant difference between the proper management of the meal service and the price hike rate. This study has a limit because it analyzes proper price and the quality of the restaurants comparing school cafeterias and the restaurants outside a university; however, it should be basic information for the improvement of university meal service in that the second most important reason why university students use a school cafeteria is price.

• Fashion & Textile Research Journal
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• v.8 no.6
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• pp.647-654
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• 2006

The purpose of this study is to identify the differences among goods attribute and brand awareness on fashion brand type. we were intended to suggest characteristics of each consumer group by identifying the differences of consumers' purchasing activities. 672 of consumers by brand who frequently purchase casual brand were chosen for the analysis according to common brand classification of national brand, private brand and no brand. For the purpose of data analysis, we performed factorial analysis of measuring tools and credibility test. Concerning the differences of goods attribute, brand awareness by brand type, MANOVA, ANOVA was employed, complimented with Sheffe-test as a post hoc test in case of occurrence of any differences by group. The findings from the analysis are described in the following. Regarding goods attribute by fashion brand type, there existed a significant difference between brand types in all the sub factors of goods attribute such as product attribute, shop attribute, and price attribute. Especially, the difference of product attribute is much more significant in the areas of material suitableness, product assortment, aesthetic expression, size & quality, clothing maintenance, and clothing comfortableness. In case of shop attribute, there was a significant difference between groups in all the factors such as shop environment, convenience of shopping, sales promotion, service quality of sales clerk, location, and shop reputation. Concerning price attribute, we found a significant difference between groups in the factors of price value, price reasonableness, price information, and economical efficiency of price. As for the difference of brand awareness by brand type, among other factors, brand value had a difference between groups; that is, private brand was found to obtain the highest brand value awareness.