• Title/Summary/Keyword: spot market

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Analysis of Spot Market Auctions with Linear Offer Curve (선형으로 입찰하는 현물시장의 최적입찰전략분석)

  • Kim, Jin-Ho;Park, Jong-Bae;Park, Jong-Keun
    • Proceedings of the KIEE Conference
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    • 2002.07a
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    • pp.444-446
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    • 2002
  • 현재, 전세계의 전력산업은 수직 통합적 독점산업에서 부문간 경쟁산업으로 변화하고 민영화를 통한 시장경쟁원리가 도입되고 있다. 이러한 전세계적 전력산업 구조개편에 발맞추고, 전력산업에서의 효율을 제고하기 위하여 우리나라도 전력산업에 시장경쟁 체제를 도입하고 발전산업에 민영화를 추진하고 있다. 이러한 새로운 시장 환경아래에서 전력거래가 원활하게 이루어지고, 시장이 안정화되기 위해서는 정부, 전력거래소, 발전회사 등과 같은 시장참여자들이 전력시장을 분석할 수 있는 방법론 및 모델을 확보하고 있어야 한다. 따라서 본 논문에서는 이러한 전력시장을 분석하기 위한 방법론으로 게임이론을 적용하여 각 발전회사가 선형함수(linear offer curve)로 입찰하는 현물시장에서 각 발전회사의 최적입찰전략 및 시장균형을 분석하고자 한다. 이를 통해 각 발전회사는 현물시장에서 자신의 이익을 최대화하기 위한 최적의 입찰전략을 수립하는데 이용할 수 있게 되며 규제자 및 시장운영자는 현물시장을 예측 분석할 수 있다.

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Technologies for Robotized Welding of Big Aluminium Structures with Tolerances for High Speed Trains (고속 열차용 대형 알루미늄 부품의 GAP 대응 로봇 자동화 용접 기술)

  • Lee, Sang Chul
    • Journal of Welding and Joining
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    • v.31 no.1
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    • pp.33-37
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    • 2013
  • Robotized MIG welding of large aluminium components for high speed trains is state-of-the-art. The implementation of online laser cameras enables seam tracking and adoptive modification of welding parameters. A constant fill is achieved regardless of the gap tolerances. Friction Stir Welding has been introduced to the market as a reliable and fast joining technology. The advantages of high welding speeds and the elimination of arc light, fumes and liquefaction in the welding spot lead to economical realisation of heavy-duty gantry systems. FSW robots offer a high flexibility with regard to welding of curved parts, and can be equipped with laser cameras for exact joint tracking.

The Industrialization Plans of RFID for the Use of New Logistics Information Systems (신물류정보시스템으로서의 활용을 위한 RFID의 산업화방안)

  • Kim, Jong-Deuk
    • International Commerce and Information Review
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    • v.6 no.2
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    • pp.171-191
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    • 2004
  • Recently, RFID(Radio Frequency IDentification) is observed with government and connection enterprises as the central figure. RFID utilizing radio is a technology that enable exchange of information sensing and recognize object. RFID is expected that the practical use limits widens by territory that can form vast market such as logistics management according to RFID's low-cost aggravation as well as usage of life and improvement of performance because present R&D is gone vigorously. Because RFID is possible application everywhere if it is various service industries as well as logistics, industry spot, manufactory and place that flowing of goods is, is used, and is becoming big limelight from society several territories.

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An Analytical Investigation for Nash Equilibriums of Generation Markets

  • Kim Jin-Ho;Won Jong-Ryul;Park Jong-Bae
    • KIEE International Transactions on Power Engineering
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    • v.5A no.1
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    • pp.85-92
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    • 2005
  • In this paper, Nash equilibriums of generation markets are investigated using a game theory application for simplified competitive electricity markets. We analyze the characteristics of equilibrium states in N-company spot markets modeled by uniform pricing auctions and propose a new method for obtaining Nash equilibriums of the auction. We assume that spot markets are operated as uniform pricing auctions and that each generation company submits its bids into the auction in the form of a seal-bid. Depending on the bids of generation companies, market demands are allocated to each company accordingly. The uniform pricing auction in this analysis can be formulated as a non-cooperative and static game in which generation companies correspond to players of the game. The coefficient of the bidding function of company-n is the strategy of player-n (company-n) and the payoff of player-n is defined as its profit from the uniform price auction. The solution of this game can be obtained using the concept of the non-cooperative equilibrium originating from the Nash idea. Based on the so called residual demand curve, we can derive the best response function of each generation company in the uniform pricing auction with N companies, analytically. Finally, we present an efficient means to obtain all the possible equilibrium set pairs and to examine their feasibilities as Nash equilibriums. A simple numerical example with three generation companies is demonstrated to illustrate the basic idea of the proposed methodology. From this, we can see the applicability of the proposed method to the real-world problem, even though further future analysis is required.

Analysis of Influencing Factors of Commons-Management Intention using Expanded Theory of Planned Behavior - Focused on the management of the Darangyi-paddy in Gachun, Namhae - (확장된 계획행동이론을 적용한 공유재 관리의도 영향요인 분석 - 남해 가천 다랑이 논 종합관리를 중심으로 -)

  • Jung, Nam-Sick;Kim, Young-Geun
    • Journal of Korean Society of Rural Planning
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    • v.23 no.4
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    • pp.169-178
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    • 2017
  • Our society has been dominated by the Dilemma Theory that rational individuals cannot get out of the 'Tragedy of the Commons' without helps from state or market. However, many empirical researches have discovered cases that common pool resources could be managed by cooperative methods of community. Based on the possibility of managing common pool resources by residents' cooperation/solidarity revealed by the recent case researches, this study aims to seek for the theoretical basis to prove it. Generally, public policies are carried forward based on the theoretical basis of the relevant social issues. The objective of this study is to suggest the new direction of policies related to domestic common resources through the researches on community's role in managing local common pool resources represented as "scenic spot". For this, it aims to reveal the influence of community activity on behavioral intention of local common pool resources, by drawing/quantitatively measuring measurement items of local residents' community activity on top of attitude, norms, and behavioral control suggested by the existing Theory of Planned Behavior. The results of this study are as follows; 4 factors such as attitude toward behavior, subjective norm, perceived behavior control, and community activity were all factors that influenced intention to manage.

A Study on the Long-Run Equilibrium Between KOSPI 200 Index Spot Market and Futures Market (분수공적분을 이용한 KOSPI200지수의 현.선물 장기균형관계검정)

  • Kim, Tae-Hyuk;Lim, Soon-Young;Park, Kap-Je
    • The Korean Journal of Financial Management
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    • v.25 no.3
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    • pp.111-130
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    • 2008
  • This paper compares long term equilibrium relation of KOSPI 200 which is underling stock and its futures by using general method fractional cointegration instead of existing integer cointegration. Existence of integer cointegration between two price time series gives much wider information about long term equilibrium relation. These details grasp long term equilibrium relation of two price time series as well as reverting velocity to equilibrium by observing difference coefficient of error term when it renounces from equilibrium relation. The result of this study reveals existence of long term equilibrium relation between KOSPI200 and futures which follow fractional cointegration. Difference coefficient, d, of 'two price time series error term' satisfies 0 < d < 1/2 beside bandwidth parameter, m(173). It means two price time series follow stationary long memory process. This also means impulse effects to balance price of two price time series decrease gently within hyperbolic rate decay. It indicates reverting speed of error term is very low when it bolts from equilibrium. It implies to market maker, who is willing to make excess return with arbitrage trading and hedging risk using underling stock, how invest strategy should be changed. It also insinuates that information transition between KOSPI 200 Index market and futures market does not working efficiently.

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The Analysis and Comparison of the Hedging Effectiveness for Currency Futures Markets : Emerging Currency versus Advanced Currency (통화선물시장의 헤징유효성 비교 : 신흥통화 대 선진통화)

  • Kang, Seok-Kyu
    • The Korean Journal of Financial Management
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    • v.26 no.2
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    • pp.155-180
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    • 2009
  • This study is to estimate and compare hedging effectiveness in emerging currency and advanced currency futures markets. Emerging currency futures includes Korea won, Mexico peso, and Brazil real and advanced currency futures is Europe euro, British pound, and Japan yen. Hedging effectiveness is measured by comparing hedging performance of the naive hedge model, OLS model, error correction model and constant condintional correlation bivariate GARCH(1, 1) hedge model based on rolling windows. Analysis data is used daily spot and futures rates from January, 2, 2001 to March. 10, 2006. The empirical results are summarized as follows : First, irrespective of hedging period and model, hedging using Korea won/dollar futures reduces spot rate's volatility risk by 97%. Second, Korea won/dollar futures market produces the best hedging performance in emerging and advanced currency futures markets, i.e. Mexico peso, Brazil real, Europe euro, British pound, and Japan yen. Third, there are no difference of hedging effectiveness among hedging models.

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A Study on the Scope for Special Interest Tourism Based Services in India

  • Selvakumar, J. Joshua
    • East Asian Journal of Business Economics (EAJBE)
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    • v.2 no.4
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    • pp.56-64
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    • 2014
  • Today, travelers are provided large amount information which includes Web sites and tourist magazines about introduction of tourist spot. Many approaches have been proposed to analyze the large amount of available information with the aim of discovering the most popular Points of Tourist Interest and routes. However, it is not easy for users to process the information in a short time. Therefore travelers prefer to receive pertinent information easier and have that information presented in a clear and concise manner. Whether you are looking for banks by company, foreign exchange services, free wireless hotspots, touristic attractions, campsites, supermarkets, restaurants, cinemas, The aim of POI Tourism Services is to enable tourists to find spots that only the locals know, giving the tourists opportunity to the tourists to explore new areas of the place like never before. This paper proposes find the scope for a personalized service for tourist "Special Interest Tourism" recommendation for tourists who travel within India & for the benefit of Foreign Nationals who visit the country. The major focus of the study is to understand the demand for such a service being integrated into the conventional tour package. The major findings made during the course of the show that the market for "Special Interest Tourism" based services stands at approximately 63%. Travel today is mainly for the people from the middle income group having a fixed budget while traveling and would like economic travel solutions that fit their budget. This accounts for a major part of the market for the service. Most tourist prefer to go on week end getaways or trips that last more than a week, this means that a specialized trip plan based on the travelers interests is feasible with these type of travelers. Maximum demand for "Special Interest Tourism" based services would be during the festive seasons.

Sulfites Contents Survey on Dried Marine Products in Market (시판 건 해산물 중 아황산염류 함량 조사)

  • 함희진;김무상;최병현;김명희
    • Journal of Food Hygiene and Safety
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    • v.14 no.4
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    • pp.380-385
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    • 1999
  • This study was performed to investigate the contents of sulfites in 2, 770 dried marine products in Seoul Chung-Bu market from March to October in 1999. Sulfites of the samples were determined by Zn powder reduction method and Monnier-Williams's modified method. Eight samples of 2, 770 (0.29%) were detected over 30ppm in SO2 contents by Monnier-Williams's modified method. In samples detected over 30ppm, six dried filefishes(130.2~573.4ppm) were imported from Vietnam, same kind of other one(114.2ppm) was from China and the other one Alaska pollack(196.3ppm) was domestic. By Zn powder reduction method, 259 dried marine products (259/2, 770=9.35%) were positive reaction (1-30ppm). These were 93 dried shrimps, 53 filefish meats, 34 dried squids, 33 slices of dried pollacks and 17 sea mussel meats. So sulfites must be use commonly to prevent black spot and preserve for many dried shrimps, filefishes meats, dried squids etc. According to results, the quality test for the imported dried marine products must be reinforced to supply safety food for the citizens.

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New Social Risks and Social Welfare for Gender in Blind Spot (새로운 사회적 위험과 사각지대의 여성복지)

  • Seo, Dong-Hee
    • The Journal of the Korea Contents Association
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    • v.9 no.3
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    • pp.320-328
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    • 2009
  • New social risks is likely to emerge from instability of family structure, flexible of labor market, movement of globalization which is related with the post-industrial society and so on. Especially, a lot of women are exposure to not only old social risks but also new social risks. A breakdown of traditional family structure, flexible of labor market which is be followed by globalization, women's poverty and limited approaches at social security services are the representation risk which is confront to women. In this study, therefore, the social risk is recognized by breakdown of traditional family structure risk which comes from the social change, aging of population, the decrease of labor population and New Right ideology. The purpose of the study is to arrange the new welfare state at gender equality level by anglicizing about women's new social risks.