• Title/Summary/Keyword: substitutability

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A Study on the Law of One Price in Major Domestic Fishery Product Markets in South Korea: Evidence from Frozen Squid, Frozen Hair tailand Dried Anchovy (주요 수산물의 국내 소비시장에서의 일물일가법칙의 성립여부 : 냉동오징어, 냉동갈치, 건멸치를 중심으로)

  • Lim, Eun-Son;Kim, Ki-Soo
    • The Journal of Fisheries Business Administration
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    • v.48 no.1
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    • pp.51-71
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    • 2017
  • We explore each of the three major domestic fishery product markets in South Korea- Frozen Squid, Frozen Hair tail and Dried Anchovy- to assess whether we can find evidence for Law of One Price (LOP) across the five major cities- Seoul, Dae-Jeon, Dae-Gu, Gwang-Ju and Busan. To achieve our aim, we utilize two different types of unit root tests: Augmented Dickey-Fuller (ADF) and Kwiatkowski-Phillips-Schmidt-Shin (KPSS) unit root test. In each of the three fishery product markets, we find evidence in support of LOP among several cities, which confirms that these markets are integrated to a certain extent. In particular, we find stronger evidence of LOP for Dried Anchovy market relative to the other two fishery product markets. Based on our findings, we argue that the Dried Anchovy market exhibits a greater degree of market integration across the five major cities in South Korea compared to the other two fishery product markets. The greater degree of market integration in the Dry Anchovy market is facilitated by its higher substitutability across cities; taken together these findings show that the market for Dried Anchovy in South Korea is more efficient than the markets for Frozen Squid and Frozen Hair tail.

Comparison of LiDAR Data Accuracy Using CORS (상시관측소를 이용한 LiDAR 데이터 정확도 비교)

  • Kang, Joon-Mook;Won, Jae-Ho;Kim, Tae-Hoon;Hong, Yong-Hyun;Lee, Gun-Ho
    • Journal of the Korean Society of Surveying, Geodesy, Photogrammetry and Cartography
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    • v.28 no.5
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    • pp.479-484
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    • 2010
  • In the airborne laser survey with GPS/INS, based on kinematic, the installation and operation of GPS base stations is necessary to allow three-dimensional location coordinates to be obtained quickly and precisely. However, in many cases, GPS base stations operate under difficult conditions. In this paper, we investigate the substitutability of continuously operating reference stations (CORS) for base stations, and we examine the influence of the distance between aircraft GPS and CORS on the Z-value. The results of our study demonstrate that, if the performance of GPS base stations within regulation distance is replaced with that of CORS, sufficient accuracy is guaranteed. Moreover, the performance of CORS beyond regulation distance is fairly good.

Comparing the Impacts of Renewable Energy Policies on the Macroeconomy with Electricity Market Rigidities: A Bayesian DSGE Model (전력시장의 경직성에 따른 국가 재생에너지 정책이 거시경제에 미치는 영향 분석: 베이지언 DSGE 모형 접근)

  • Choi, Bongseok;Kim, Kihwan
    • Environmental and Resource Economics Review
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    • v.31 no.3
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    • pp.367-391
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    • 2022
  • We develop an energy-economy Bayesian DSGE model with the two sectors of electricity generations-traditional (fossil, nuclear) and renewable energy. Under imperfect substitutability between the two sectors, a technological shock on renewable energy sectors does not sufficient to facilitate energy conversion and reduce greenhouse gas emissions. Technology innovation on greenhouse gas emission reduction is also required. More importantly, sufficient investment should be derived by a well-functioning electricity market where electricity price plays a signal role in efficient allocation of resources. Indeed, market rigidities cause reduced consumption.

Analytic Hierarchy Process-Based Prioritization in Expanding Health Insurance Benefit Package: in Case of Four Major Serious Diseases (Analytic Hierarchy Process를 이용한 건강보험 급여 우선순위 결정: 4대 중증질환 비급여항목을 중심으로)

  • Jeong, Hyoung-Sun;Cho, Jae-Young;Ko, Hey-Jin
    • Health Policy and Management
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    • v.24 no.2
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    • pp.181-190
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    • 2014
  • Background: Demands are recently rising for the securement of procedural justification of policy decision-making. This study aims to improve the procedure of making a decision to expand health insurance benefit package from the perspective of building a social consensus. Methods: Major priority principles were firstly derived through literature search. Weights for such principles were calculated through an analytic hierarchy process, based upon the survey conducted for the health policy experts. Priority for 11 non-covered services was assessed by applying the weights as above to the results of the questionnaire survey targeted at people including members of related committees or societies. Results: Weights for priority principles were in the order of 'severity/urgency (0.428)', 'cost-effectiveness (0.318)', 'substitutability (0.164),' and 'accountability (0.090)'. What was obtained by applying these weights to the results of the questionnaire survey was considerably in line with what health experts classified those items into 3 groups depending on their own judgement of service necessity (consistent with 9 services out of 11). Conclusion: Results of the study are suggestive as to how far a brief assessment by experts could be utilized in case there are constraints on time and expenses in implementing all the process to secure procedural justification. Various attempts and endeavors need to be made to secure procedural justification that will not mar efficiency of decision-making in the days to come.

An Experimental Study for Substitutability of Sand Mat with Precious Slag Ball (풍쇄 슬래그의 샌드매트 대체 가능성에 대한 실험적 연구)

  • Shin, Eun-Chul;Lee, Woon-Hyun;Kang, Jeong-Ku
    • Journal of the Korean Geosynthetics Society
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    • v.9 no.2
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    • pp.1-9
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    • 2010
  • At present, the sand mat method is actively used for improvement of soft ground. But, there are some problems related with sand mat which has been used as a way to accelerate consolidation settlement. First of all, insufficiency of sand due to imbalances in market supply and demand is the one of the biggest problems, which makes price high of sand and delays a term of total construction work. Moreover, it is necessary to preserve integrity of environment from natural disruption caused by indiscreet quarrying and dredging operation to supply sand for soil improvement construction site. This paper presents the feasibility study to use of Precious Slag Ball instead of sand mat as the replacing material through the basic soil property tests, the medium of discharge capacity test and analysis of settlement property. It is also evaluates the performance of Precious Slag Ball as a sand mat in terms of discharge capacity, ground settlement by the K-Embank program based on field experimental work.

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Substitutability of coagulation process by pre-treatment of coagulation·flotation using natural algae coagulant (천연조류제거제를 활용한 응집·부상 전처리공정의 기존 응집공정 대체 가능성)

  • Jang, Yeo-Ju;Jung, Jin-Hong;Lim, Hyun-Man;Chang, Hyang-Youn;Kim, Weon-Jae
    • Journal of Korean Society of Water and Wastewater
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    • v.31 no.1
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    • pp.39-50
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    • 2017
  • In the coagulation/sedimentation (C/S) process of the water treatment process, the inflow of massive algal bloom causes many problems including fouling of filter media. This study was conducted to find out the way to remove the algae's harmful effects by addition of pre-treatment prior to C/S process. Many Jar-tests were conducted such as (1) ACF (Algae Coagulation Flotation) process using natural algae coagulant (Water $Health^{(R)}$), (2) ACF + C/S process and (3) C/S process with a variety of conditions using cultured algae. The average values of turbidity were (1) 0.42 NTU for ACF process, (2) 0.13 NTU for ACF + C/S process and (3) 0.25 NTU for C/S process. It was shown that the treatment efficiency of ACF process could get low turbidity results, and ACF + C/S process could achieve more efficient results than those of C/S process. Any negative effects of ACF process to the efficiency of C/S process were not observed in ACF + C/S process. In order to reduce the unfavorable effects of algae, it was found out that the introduction of ACF process in the forms of (1) ACF or (2) ACF + C/S could be one of the effective and alternative solutions.

Convergence and Substitutability: A Case Study of the United States and the United Kingdom (가족관계, 스마트폰의 중독적 사용 및 정서적 문제간의 인과관계 - 전국의 청소년을 대상으로 한 모형 검증 -)

  • Bae, Sung Man
    • Informatization Policy
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    • v.22 no.3
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    • pp.36-46
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    • 2015
  • This study verified theoretical model to explain adolescents' addictive use of smartphone. I used the data of 679 middle and high school students among 2013 internet addiction survey of National Information Society Agency(NIA). This study utilized structural equation modeling analysis to compare a suggestive model and alternative model. According to the final model, higher the satisfaction of family relationship, the addictive use of smartphone and emotional problems of adolescents were reduced. And, higher the addictive use of smartphone, higher the emotional problems of adolescents. Also, family relationship affects emotional problems via addictive use of smartphone. While, in the alternative model, path from amount of smartphone use to addictive use of smartphone was not significant. Results of this study suggest that family relationship variable may play an antecedent factor of addictive use of smartphone and emotional problems of adolescents and control of smartphone use is important to keeping a mental health of adolescents.

Welfare Effects of the Tax Reforms in Two Vertically-Related Oligopolies with Environmental Externality

  • Hong, In-Kee
    • Journal of Environmental Policy
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    • v.7 no.3
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    • pp.1-40
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    • 2008
  • In this paper, I examine the welfare effects of various revenue-neutral tax reforms in the case of two vertically-related oligopolies(downstream and upstream), where the upstream industry is polluting. I show analytically when and how government can improve welfare by initiating various tax reforms, regardless of either the feasibility of a lump sum transfer or the availability of a tax on pollution. The profit wedge that is the difference between the unit price and the unit cost and the marginal environmental damages(MED) becomes important to decidethe direction of a tax reform and is crucial to determine the direction of welfare-improving tax-subsidy schemes. I also show that a tax on pollution(Pigouvian tax) is superior to a tax on intermediate good even in the case of vertically-related oligopolies, because the former always brings in positive welfare effect from the upstream firms' input substitutability, which a tax on intermediate good cannot provide. Some policy implications for 'reducing environmentally-harmful subsidies' are also discussed.

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Effects of Inorganic Coagulants on Sizing and Contamination in Newsprint Mill (무기 응결제가 신문용지의 사이즈도와 공정오염에 미치는 영향)

  • Lee, Tai Ju;Seo, Jin Ho;Lee, Kwang Seob;Jeong, Sung Hyun;Ryu, Jeong Yong
    • Journal of Korea Technical Association of The Pulp and Paper Industry
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    • v.47 no.3
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    • pp.40-46
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    • 2015
  • For some Korean newsprint mill, addition level of aluminum sulfate has been reduced because sulfur from aluminum sulfate has detrimental effect on the efficiency of anaerobic water treatment. At this moment, an unexpected decrease in sizing degree of TMP mixed newspaper was occurred. The phenomena means that hydrophobic substance usually originated from TMP cannot be fixed on the paper. This study focused on effect of alum and PAC on sizing of paper and contamination. Also, substitutability of PAC was discussed as a possible alternatives of aluminum sulfate under anaerobic condition of water treatment. Evaluation of sizing degree and pitch deposit potential were performed at the varied addition level of PAC and aluminum sulfate. Hydrophobic substance mainly derived from TMP could be fixed on the surface of fiber by PAC. Fines retention was not changed by replacing aluminum sulfate with PAC. Additionally, fixing of hydrophobic substance without excessive agglomeration can be enhanced by PAC with low molecular weight. Consequently, sizing degree of newspaper and contamination of recycling process of ONP can be controlled by low molecular weighted PAC.

Application Technology of Environmental-friendly Starch-based Biobinder and Synthesized Binder as a Substitute for SB Latex (2) - Application of Substitute Binder for Top-coating Layer - (SB latex 대체용 친환경 전분계 바이오바인더 및 합성바인더의 적용 기술 개발 (제2보) - 대체용 바인더의 Top-coating 적용 -)

  • Lee, Yong Kyu;Hong, Seong-Ho;Won, Jong Myoung;Kim, Young-Hun
    • Journal of Korea Technical Association of The Pulp and Paper Industry
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    • v.47 no.5
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    • pp.141-146
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    • 2015
  • This study was carried out to elucidate the partial substitutability of SB latex with environmental-friendly coating binders for coated paper. Starch-based biobinder, ethylene vinyl acetate and acryl-based binder were evaluated for this purpose. Several combinations of above binders were applied to top layer coating, and properties of coating colors and printability were evaluated. When 20% and 30% of SB latex were substituted by acryl-based synthetic binder, ethylene vinyl acetate and biobinder, the brightness, whiteness and opacity of coated paper were similar to those obtained from SB latex. Ink set and stiffness of coated paper manufactured through 20% and 30% substitution of SB latex by biobinder and EVAc were improved, but dry- and wet-pick strength were decreased. The research works on the improvement of dry- and we-pick strength, mechanical stability and rheological properties at high shear condition should be continued for the commercial application of biobinder, EVAc and acryl-based binder.