• Journal of the Korean Society for Industrial and Applied Mathematics
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• 제19권4호
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• pp.417-428
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• 2015

Although, in general, the random fluctuation of interest rates gives a limited impact on portfolio optimization, their stochastic nature may exert a significant influence on the process of selecting the proportions of various assets to be held in a given portfolio when the stochastic volatility of risky assets is considered. The stochastic volatility covers a variety of known models to fit in with diverse economic environments. In this paper, an optimal strategy for portfolio selection as well as the smoothness properties of the relevant value function are studied with the dynamic programming method under a market model of both stochastic volatility and stochastic interest rates.

• ETRI Journal
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• 제32권3호
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• pp.447-456
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• 2010

Asymmetric regulation as applied to mobile termination rates refers to regulatory arrangements in which different mobile operators charge different termination rates, even though the services provided are essentially identical. The asymmetric regulation has been frequently used as a regulatory tool to support new entrants to a mobile market. This paper examines the economic effects of asymmetric regulation of mobile termination rates using a theoretical model and its simulation. The result shows that when there is no noticeable difference in brand loyalty between mobile operators with the high degree of substitutability between services provided by mobile operators, and the costs of new entrants are low, a reduction in the asymmetry of mobile access prices results in an enhancement of consumer welfare. These findings provide positive evidence for the argument that in certain situations asymmetric pricing of mobile access services may be counterproductive for consumer welfare.

• Bulletin of the Korean Chemical Society
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• 제32권3호
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• pp.993-999
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• 2011

The photoreactive prepolymers with multifunctional cinnamate and bisphenol Atype cinnamate groups that could perform photodimerization without photoinitiators were synthesized by the reaction of t-cinnamic acids (CAs) and epoxy resins. Their photocure reaction rates and the extent of reaction conversion were measured with Fourier transform infrared spectroscopy, and these increased with the intensity of UVirradiation. The experimental data of these reaction rates showed the characteristics of nth-order kinetics reaction, and all kinetic constants of each photoreactive polymer with this equation were summarized. Although the GTR-1800-HCA and KWG1-EP-HCA with hydroxyl group substituted cinnamate showed lower reaction conversion rates and rate constant than GTR-1800-CA and KWG1-EP-CAwith an unsubstituted cinnamate group, GTR-1800-MCAand KWG1-EP-MCAwith methoxy group substituted cinnamate showed similar and higher reaction conversion rates than the former, respectively. These results were explained in terms of segmental mobility for photopolymerization by molecular interactions.

• Journal of Ocean Engineering and Technology
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• 제7권1호
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• pp.147-155
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• 1993

The effect of stress waveforms on corrosin fatigue and the role of dissolution mechanism in 3NilCr steel and 20Ni maraging steel have been investigated in aerated 3% NaCl solution and synthetic seawater under sinusoidal, triangular, square, positive sawtooth, negative sawtooth, and trapezoidal stress waveforms with open circuit at frequency of 1Hz and stress ratio of 0.1. The crack growth rates under square waveform were substantially lower than under sinusoidal and triangular waveforms, but the crack growth rates under sinusoidal waveform were slightly higher under triangular waveform. For a given frequency the growth rates under the positive sawtooth waveform are higher than those under the negative sawtooth waveform. The fatigue crack growth rates of most specimens were in good agreement with the values calculated by the model based on the dissoultion mechanism.

• Journal of applied mathematics & informatics
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• 제9권1호
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• pp.349-357
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• 2002

In this paper, we analyze queueing behaviors and investigate the possibilities of reducing and controlling shortages and oversupplies in the bidirectional queueing system which forms a negative queue by demand and a positive queue by supply. Interarrival times of units in the bidirectional queueing system investigated are exponetially distributed. Instant pairing off implies that queue can be either positive or negative, but not both at the same time. The results include a proof that sum of queue lengths is minimized if rates of demand and supply in each system are equal and optimum solutions for rates of supply which minimize the sum of queue lengths when rates of demand and sum of rates of supply are given. In addition, the relationship between the ordinary queueing system and the bidirectional queueing system is investigated.

• Proceedings of the KSME Conference
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• 대한기계학회 2004년도 춘계학술대회
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• pp.1927-1932
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• 2004

A 1/21.6 scaled non-heating experimental facility was prepared utilizing the results of a scaling analysis to simulate the APR1400 reactor and insulation system. The behaviors of the air bubble-induced two-phase natural circulation flow in the insulation gap were observed, and the liquid mass flow rates driven by natural circulation loop were measured by varying the injected air flow rate and distribution. As the injected air flow rates increased, the natural circulation flow rates also increased. Both the longitudinal and the latitudinal distributions of the injected air affected the natural circulation flow rates, especially, the longitudinal effect is more larger.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• 제7권4호
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• pp.547-555
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• 1995

Melting process of ice in a rectangular cavity with different temperature walls has been studied experimentally. Front shape of ice and melting rate were affected by initial temperature of ice and variation of temperature distribution and density gradient. When the hot wall temperature was below $8^{\circ}C$, the melting rates were higher at the bottom than those of at the top due to the density inversion, but with increasing the hot wall temperature the melting rates at the top were affected by hot wall and were higher than those of at the bottom. When the initial temperature of ice was low, melting rates were low, but with increasing the time melting rates were almost the same with those of each initial temperature of ice.

• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• 제12권8호
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• pp.745-754
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• 2000

An experimental study has been carried out in order to investigate the heat storage characteristics for a latent heat storage tank with horizontal shell and tube type. The heat storage tank consists of cylindrical capsules with a staggered tube bank. The effects of flow rates and initial temperature differences on the melting time and heat storage rates are examined. It is found that the melting time decreases with increase of the flow rates and initial temperature differences. Results also show that the time-averaged overall heat transfer coefficients increase in proportion to the increase of flow rates and initial temperature differences.

• Asian Journal of Turfgrass Science
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• 제9권4호
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• pp.331-342
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• 1995

An investigation was performed to reveal the removal rates of organic constituents of the litters in a Phragmithea longivalvis grassland in a Delta of the Nakdong River, The removal rates of the inorganic and organic materials are determined by the mathematical models. The removal rates and time required to decay up to a percentage of each organic constituent were calculated using these new models. The removal rates of cold water soluble fractions, other carbohydrates, hot water soluble fractions, cellulose, crude fat, lignin and crude protein were 2.67, 1.39, 1.25, 1.02, 0.92, 0.49 and 0.47, respectively, The periods required to reach half time to the steady state of the removal and accumulation for cold water soluble fractions, other carbohydrates, hot water soluble fractions, cellulose, crude fat, lignin and crude protein of the litter were 0.26, 0.50, 0.55, 0.68, 0.75, 1.41 and 1.48 years, respectively.

• Journal of the Korean Society of Marine Environment & Safety
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• 제7권3호
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• pp.107-116
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• 2001

The relatively rapid rising trends of crime rates in marine situations leads to social concerns in Korea. This study reviews some theoretical backgrounds of the economics of crime and apply econometric models to Korean marine crimes. We find that there is a positive relationship between marine crime rates and unemployment rates in Korea and the degree of the relationship is higher in the 1990s' in comparison with the results of 1970s' and 1980s'. This findings are compatible with the previous theoretical researches in advanced countries. These findings show that recently the structure of our economy and the economic behaviors of economic agents in Korea have been similar to those of the advanced economies. Therefore this study shows that there exists the additional social costs of economic depression by causing the social crimes and the necessity of public policies to reduce unemployment rates would be higher.