• Asia Marketing Journal
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• v.19 no.3
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• pp.45-74
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• 2017

The current research proposes to fill a research gap by testing how reward uncertainty, different types of motivation, as well as individual risk-taking attitude affect consumers' promotion participation. Being offered with an uncertain reward, relative to individuals with extrinsic motivation, individuals with intrinsic motivation will have greater intention to participate in marketing promotion. In contrast, being offered with a certain reward, relative to individuals with intrinsic motivation, individuals with extrinsic motivation will have greater intention to participate in marketing promotion. This effect arises only among consumers having a low level of risk-taking attitude. For consumers having a high level of risk-taking attitude, their participation intention shows no significant difference between the two motivation type groups, under both certain and uncertain reward conditions. With an understanding of how consumer's response heterogeneously to promotions involving rewards, marketers can better understand not only how to use this promotional tactic more effectively, but also how to better allocate their budget for promotions.

• Journal of Digital Convergence
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• v.11 no.10
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• pp.71-77
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• 2013

Broadcaster and production studio inevitably take the risk in Korea because the outsourced drama is contracted before produced. However, it is important for both parties to share risk and reward. This study seeks to assess the fairness of the copyright contract between broadcaster and production studio by examining whether they both have the balanced risk and reward structure. For the study, revenue and cost elements with their amounts are identified, which come from TV commercials, oversea sales, the secondary windows, sponsorship, and product placement. Next, the revenue and COGS (Cost of goods sold) of broadcaster and studio are estimated for both cases of when drama becomes successful or not. The analysis reveals that the current copyright agreement allows broadcaster hold low risk but high reward whilst production studio takes high risk low reward. However, the result doesn't imply that government intervention is justified because demand and supply determine the negotiation power in a free economy.

• Molecules and Cells
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• v.39 no.9
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• pp.645-653
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• 2016

Morphine is the most potent analgesic for chronic pain, but its clinical use has been limited by the opiate's innate tendency to produce tolerance, severe withdrawal symptoms and rewarding properties with a high risk of relapse. To understand the addictive properties of morphine, past studies have focused on relevant molecular and cellular changes in the brain, highlighting the functional roles of reward-related brain regions. Given the accumulated findings, a recent, emerging trend in morphine research is that of examining the dynamics of neuronal interactions in brain reward circuits under the influence of morphine action. In this review, we highlight recent findings on the roles of several reward circuits involved in morphine addiction based on pharmacological, molecular and physiological evidences.

• Journal of Information Technology Applications and Management
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• v.25 no.1
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• pp.67-85
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• 2018

We propose a noise reduced risk aversion index for measuring risk aversion through a laboratory experiment to overcome disadvantages of the multiple pricing list format developed by Holt and Laury (2002). We use randomized multiple list choices with coarser classification and reward weighting, supplement the rank of risk aversion with extra individual characteristics of risk attitude, and construct an index of risk aversion by standardizing the risk aversion ranking with quantile normalization. Our method reduces multiple switching problems that noisy decision makers mistakenly commit in experimental approaches, so that it is free of the framing effect which severely occurred in the HL. Furthermore, the index doesn't utilize any specific utility function or probability weighting, which allows researcher to hold the independence axiom. Since our noise reduced index of risk aversion has many good traits, it is widely used and applied to reveal fundamental characteristics of risk-related behaviors in economics and finance regardless of experimental environment.

• KDI Journal of Economic Policy
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• v.33 no.2
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• pp.41-79
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• 2011

This study examines the compensation scheme for the executives and risk-taking behavior in the Korean banks. Theoretically, shareholders prefer risky asset choice to the optimal one due to the limited liability feature of reward, and stock-based executive compensation may induce choices favorable to the shareholder. We empirically test this risk-taking hypothesis using Korean banks' data. Since only the stock option data is available under the current disclosure system, we limit our analysis to examine the relationship between the compensation through stock option and the risk of banks. The result provides no evidence that stock option compensations increase the risk of banks, which is contrary to the theoretical prediction and preceding studies in the US. This may be due to any factor that the executive reward data omit, or regulation effects on the bank management.

• International conference on construction engineering and project management
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• 2007.03a
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• pp.106-118
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• 2007

Little attention has been focussed on a precise definition and evaluation mechanism for project management risk specifically related to contractors. When bidding, contractors traditionally price risks using unsystematic approaches. The high business failure rate our industry records may indicate that the current unsystematic mechanisms contractors use for building up contingencies may be inadequate. The reluctance of some contractors to include a price for risk in their tenders when bidding for work competitively may also not be a useful approach. Here, instead, we first define the meaning of contractor contingency, and then we develop a facile quantitative technique that contractors can use to estimate a price for project risk. This model will help contractors analyse their exposure to project risks; and also help them express the risk in monetary terms for management action. When bidding for work, they can decide how to allocate contingencies strategically in a way that balances risk and reward.

• International conference on construction engineering and project management
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• 2013.01a
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• pp.338-343
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• 2013

Integrated Project Delivery (IPD) as a delivery method fully capitalizes on an integrated project team that takes advantage of the knowledge of all team members to maximize project outcomes. IPD is currently the highest form of collaboration available because all three core project stakeholders, owner, designer and contractor, are aligned to the same purpose. Compared with traditional project delivery approaches such as Design-Bid-Build (DBB), Design-Build (DB), and CM at-Risk, IPD is distinguished in that it eliminates the adversarial nature of the business by encouraging transparency, open communication, honesty and collaboration among all project stakeholders. The team appropriately shares the project risk and reward. Sharing reward is easy, while it is hard to fairly share a failure. So the compensation structure and the contingency in IPD are very different from those in traditional delivery methods and they are expected to encourage motivation, inspiration and creativity of all project stakeholders to achieve project success. This paper investigates the compensation structure in IPD and provides a method to determine the proper level of contingency allocation to reduce the risk of cost overrun. It also proposes a method in which contingency could be used as a functional monetary incentive when established to produce the desired level of collaboration in IPD. Based on the compensation structure scenario discovered, a probabilistic contingency calculation model was created by evaluating the random nature of changes and various risk drivers. The model can be used by the IPD team to forecast the probability of the cost overrun and equip the IPD team with confidence to really enjoy the benefits of collaborative team work.

• Journal of the Korean Academy of Child and Adolescent Psychiatry
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• v.28 no.1
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• pp.4-13
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• 2017

The seeds of addiction are typically sown years prior to the onset of addictive substance use or engagement in addictive behaviors, due to the priming of the reward pathway (RewP) by alterations in the mechanism of stress-signaling from the hypothalamic-pituitary-adrenal axis (HPA) and related pathways. Excessive stress from a single-event and/or cumulative life experiences during childhood, such as those documented in the Adverse Childhood Experiences Study, is translated into neurobiological toxicity that alters the set-point of the HPA axis and limbic system homeostasis [suggested new term: regulation pathway (RegP)]. The resultant alteration of the RegP not only increases the risk for psychiatric and physical illness, but also that for early onset and chronic addictions by dysregulating the RewP. This paper reviews the interface of these symbiotic pathways that result in the phenotypic pathology of emotional dysregulation, cognitive impairment, and compulsive behaviors, as well as morbidity and shorter life expectancy when dysregulated by chronic stress.

• Journal of KIISE:Computing Practices and Letters
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• v.15 no.7
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• pp.500-504
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• 2009

A reliability of software is a type of nonfunctional requirement. Traditionally, a validation of the reliability is processed at the integration phase in software development life cycle. However, it increases the cost and the risk for the development. In this paper, we propose reliability analysis method based on mathematical analytic model at the architecture design phase of the development process as follows. First, we propose the software modeling methodology for reliability analysis using Hierarchical combined Queueing Petri Nets(HQPN). Second, we derive the Markov Reward Model from the HQPN based model. We apply our approach to the video conference system to verify the usefulness of our approach. Our approach supports quantitative evaluation of the reliability.

• The Journal of Economics, Marketing and Management
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• v.12 no.2
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• pp.1-10
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• 2024

Purpose: This study conducted an empirical study to estimate the loss aversion rate of individual investors in the Seoul condominium market. Research design, data and methodology: A survey was conducted with Seoul residents ranging from 30's to 60's with various backgrounds. Descriptive statistical analysis and a paired sample t-test were conducted using SPSS 27.0 statistical package. Results: The results of the t-test showed that Seoul residents are indeed more sensitive to loss than gains, as pointed out in various researches related to behavioral economics. Also, the loss aversion rate associated with KRW 50 million risk was found to be 2.14. Finally, the same question was asked with KRW 100 million risk, doubled associated risk of previous question, using the same scenario, and it's been verified that the loss aversion rate increases as the associated risk or stake increases. The loss aversion rate with double risk is 2.26 which is about 5% higher than the one with KRW 50 million risk. Conclusions: This study can help many groups of people in society who need to establish rewards and punishment policies within any organization. In particular, incorporating human cognitive biases, such as loss aversion can help the South Korean government shape more effective reward and punishment policies when building rewards and punishments using taxes.