• Journal of the Korean Operations Research and Management Science Society
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• v.27 no.4
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• pp.11-27
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• 2002

This paper is aimed at surveying the method that supports logical and theoretical back grounds of electricity service pricing, to investigate whether the ESPM can reflect comprehensively the various interests of parties and persons concerned with electricity supply and demand, and analyzing the practical applicability of the model in short-term perspectives. The major findings of this study can be summarized as fellows. First, the ESPM explains what process the equilibrium price is attained through, which is the essential concept and object in evaluating the value of public enterprises or utilities and the price of electricity Second, the ESPM provides the logics and methods that can objectify the discrete price by each electricity user. Third, the ESPM presents theoretical logics and practical methods that can calculate the basic price and the variable price per electricity unit which are key concepts in the two-part tariff. Fourth, the ESPM has powerful practical applicabilities in the reasonable electricity pricing and in the explanation for the balance between parties and persons interested with electricity supply and demand.

• Journal of the Chungcheong Mathematical Society
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• v.26 no.4
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• pp.787-791
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• 2013

In this paper we present one factor model of commodity prices with a single jump regime-switching process. And we derive an analytic formula for pricing futures contracts when the parameters of commoditiy process have governed by a Markov regime-switching process.

• Management Science and Financial Engineering
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• v.14 no.2
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• pp.13-23
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• 2008

The pricing/lot-sizing problem of determining the robust optimal order quantity and selling price is discussed. The uncertainty of parameters characterized by an ellipsoid is explicitly incorporated into the problem. An approximation scheme is proposed to transform the problem into a geometric program, which can be efficiently and reliably solved using interior-point methods.

• East Asian mathematical journal
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• v.36 no.1
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• pp.55-60
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• 2020

We study a probabilistic approach for valuing an exchange option with default risk. The structural model of Klein [6] is used for modeling default risk. Under the structural model, we derive the closed-form pricing formula of the exchange option with default risk. Specifically, we provide the pricing formula of the option with the bivariate normal cumulative function via a change of measure technique and a multidimensional Girsanov's theorem.

• Journal of Korean Institute of Industrial Engineers
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• v.22 no.4
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• pp.677-687
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• 1996

We study simultaneous decision making model for a monopolistic or competitive supplier to decide inventory and pricing policies under capacity constraint. Economic implications are obtained from the optimality conditions such as production lot sizes, pricing schedules and so on. Sensitivity analysis gives us the optimal relations among the critical economic quantities.

• Journal of Korean Library and Information Science Society
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• v.20
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• pp.383-411
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• 1993

Information and information services are recently recognized as a commodity and libraries and information centers are also considered as a company. Under this circumstance, libraries and information centers encounter the problems how they can effectively achieve the objectives of service institutions and objectives of resource management as companies. Pricing policy for information services must be something to satisfy these two very different objectives. This paper discusses the following issues to develop pricing model for information services, 1) the needs of pricing for information services, 2) the major elements impacting to pricing of information services including the objectives of pricing, cost and demand of information services, and information value, 3) the pros and cons of pricing method using concepts of average cost, price differentiation, and marginal cost, respectively.

• Journal of information and communication convergence engineering
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• v.13 no.2
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• pp.86-96
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• 2015

In mobile communication, mobile services [MSs] (e.g., phone calls, short/multimedia messages, and Internet data) incur a cost to both mobile users (MUs) and mobile service providers (MSPs). The proposed model MobPrice consists of dynamic data pricing schemes for mobile communication in order to achieve optimal usage of MSs at minimal prices. MobPrice inspires MUs to subscribe MSs with flexibility of data sharing and intra-peer exchanges, thereby reducing overall cost. The main contributions of MobPrice are three-fold. First, it proposes a novel k-level data-pricing (kDP) scheme for MSs. Second, it extends the kDP scheme with the notion of service-sharing-based pricing schemes to a collaborative peer-to-peer data-pricing (pDP) scheme and a cluster-based data-pricing (cDP) scheme to incorporate the notion of 'cluster' (made up of two or more MUs) in mobile communication. Third, our performance study shows that the proposed schemes are indeed effective in maximizing MS subscriptions and minimizing MS's price/user.

• Proceedings of the CALSEC Conference
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• 2004.02a
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• pp.112-116
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• 2004

· Dynamic Pricing vs. Fixed Pricing Auctions make both buyers and sellers engage in the price discovery process, Auctions of various kinds will replace the fixed pricing model that now pervades much of the web(pmitted)

• Journal of the Korean Operations Research and Management Science Society
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• v.25 no.2
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• pp.23-31
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• 2000

Many studies in marketing and economics have attempted to model price and sales path under the dynamic diffusion process. Most of these models have been based on a fixed product lifetime. The current business climate requiring intensive development of new products however affects the diffusion of new products and their lifetime. Many products have not enjoyed the expected life cycle at the launching stage due to intense technical development competitive reactions, and financial problems. Most diffusion models however have not taken account of the lifetime uncertainty of new product. If the products do not last over the planning horizon set by those models. the optimal price derived from them could be futile. Therefore we had better take such lifetime uncertainty into consideration when developing diffusion models, In this paper we study the impact of uncertain product lifetime on its optimal pricing path in non-competitive market. We develop an optimal pricing model under uncertain product lifetimes and conduct a simulation study to investigate their effects on the optimal pricing and corresponding sales paths. The simulation study provides some interesting findings on optimal pricing policy under uncertain product lifetime. This study could be a stepping stone for the further extended study of optimal pricing strategy with uncertain product lifetime.

• Journal of Energy Engineering
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• v.8 no.4
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• pp.505-511
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• 1999

One of the major challenges confronting a multiservice electric utility is the establishment of the right prices, for its services. The key objectives of particular pricing schemes are reasonableness of company earnings. Economic efficiency, the responsiveness of supply and of the allocation of sources to the desires of consumers, and maintenance of some degree of competition. This paper proposes a value-based pricing mechanism amenable to the current deregulation situation in electricity market allowing service differentiation. The proposed pricing mechanism can be implemented ina nodal auction model, and can also be applied to direct load control.