• Proceedings of the IEEK Conference
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• summer
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• pp.294-301
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• 2004

This paper presents a combination of optimization concept and congestion control for multicast communications to bring best benefit for the network. For different types of Internet services, there will be different utility functions and so there will be different ways to choose on how to control the congestion, especially for real time multicast traffic. Our proposed algorithm OMCC brings the first implementation experiment of utility-based Multicast Congestion Control. Simulation results show that OMCC brings better network performances in multicast session throughput while it still keeps a certain fairness of unicast and multicast sessions, and thus, provides better benefit for all network participants.

• Asia pacific journal of information systems
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• v.23 no.4
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• pp.85-102
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• 2013

This study proposes a web presence readiness model based on pre-payment service functions and a post-payment service function both of which embrace the major concerns of customers in the online purchasing context. Based on the concept of customer utility from the product itself and instrumental utility, the research model suggests four antecedents including, Perceived Economic Benefits, Product Search Support Quality, e-Shopping Method Diversity, and Post-Payment Support Quality. We empirically examined a proposed research model using data collected from online rating company websites. Among the four antecedents, post payment support quality is found to be the most influential determinant of customer evaluation on e-commerce websites. Based on the empirical results, the current study proposes an alternate model of web presence readiness. The findings of this study may provide an insight to field practitioners designing commercial websites. The implications and future research directions are further discussed.

• Journal of the Chungcheong Mathematical Society
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• v.32 no.2
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• pp.215-224
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• 2019

We investigate the optimal consumption and investment decision problem of an agent whose time preference is time-inconsistent. Specifically, for a time-separable utility function, the agent's subjective discount factor is supposed to be changed randomly in the future. We provide closed-form solutions in the presence of income process. The method can be extended into the case with a stochastic income process.

• Journal of Korean Society for Quality Management
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• v.51 no.2
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• pp.171-184
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• 2023

Purpose: First, this paper suggests an alternative approach to find optimal portfolio (stocks, bonds and ESG stocks) under the maximizing utility of investors. Second, we include ESG stocks in our optimal portfolio, and compare improvement of welfares in the case with and without ESG stocks in portfolio. Methods: Our main method of analysis follows Brennan et al(2002), designed under the continuous time framework. We assume that the dynamics of stock price follow the Geometric Brownian Motion (GBM) while the short rate have the Vasicek model. For the utility function of investors, we use the Power Utility Function, which commonly used in financial studies. The optimal portfolio and welfares are derived in the partial equilibrium. The parameters are estimated by using Kalman filter and ordinary least square method. Results: During the overall analysis period, the portfolio including ESG, did not show clear welfare improvement. In 2017, it has slightly exceeded this benchmark 1, showing the possibility of improvement, but the ESG stocks we selected have not strongly shown statistically significant welfare improvement results. This paper showed that the factors affecting optimal asset allocation and welfare improvement were different each other. We also found that the proportion of optimal asset allocation was affected by factors such as asset return, volatility, and inverse correlation between stocks and bonds, similar to traditional financial theory. Conclusion: The portfolio with ESG investment did not show significant results in welfare improvement is due to that 1) the KRX ESG Leaders 150 selected in our study is an index based on ESG integrated scores, which are designed to affect stability rather than profitability. And 2) Korea has a short history of ESG investment. During the limited analysis period, the performance of stock-related assets was inferior to bond assets at the time of the interest rate drop.

• Journal of the Korean Society for Industrial and Applied Mathematics
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• v.15 no.4
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• pp.277-290
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• 2011

We define some multi-type asset models derved from L$\acute{e}$vy proceses which emphasize coefficients of stochastic differential equations. Also these asset models can be represented by Doleance-Dade linear equations derived from jump-type semimartingales which are decomposed by various terms of time basically. For these asset models, we can construct optimal portfolio strategy by using filtered various information at each check time.

• Journal of the Korean Society for Industrial and Applied Mathematics
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• v.18 no.4
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• pp.283-294
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• 2014

In this paper we study consumption-labor supply decision of an agent who prepares for retirement at a known time in the future. The agent is assumed to have a preference which is represented by the von Neumann-Morgenstern utility function in which the felicity function has constant relative risk aversion over the composite of consumption and leisure. The composite is obtained by the Cobb-Douglas function. A general problem has been studied by Bodie et al. (2004). We contribute to the literature by deriving the Slutsky equations and conducting comparative statics. In particular, we show that wealth effect can exhibit an interesting property depending upon the time until retirement, as the interest rate increases.

• Journal of Korean Society of Transportation
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• v.27 no.1
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• pp.35-42
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• 2009

One of the problems we face up at the time of planning or improving a transportation transfer facility is which modes and how close we have to put together. The goal here is to keep the connecting transportation mode as close as possible to the prime transit mode, so people travel a minimum transfer path, a distance from one mode to another. Too much a physical separation between modes will limit, even with an intensive improvement of the component links, the level of service of a transfer path as a whole. This study defined a transfer path as the whole stretch of the distance from an arrival point of one mode to the departure point of the connecting mode. The transfer path was divided into three typical segments as side walk, stairways, and indoor corridors. Preference surveys were made for each of these segments, resulting in relative resistance. The sum of individual segments weighted with the relative resistance will make a transfer resistance of the path, which in turn constitutes a transfer utility function together with the overall satisfaction score obtained by the interview survey. The transfer utility function has been utilized to evaluate the transfer distance between modes.

• Journal of the Computational Structural Engineering Institute of Korea
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• v.29 no.5
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• pp.413-419
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• 2016

Damage of infrastructures by an earthquake causes the secondary damage through the world at large more than the damage of the structures themselves. Amomg them, underground utility tunnel structures comes under the special life line: communication, gas, electricity and etc. and it has a need to evaluate its fragility to an earthquake exactly. Therefore, the destruction ability according to peak ground acceleration of earthquakes for the underground utility tunnels is evaluated in this paper. As an input ground motion for evaluating seismic fragilities, real earthquakes and artificial seismic waves which could be generated in the Korean peninsula are used. And as a seismic analysis method, response displacement method and time history analyzing method are used. An limit state which determines whether destruction is based on the bending moment and shear deformation. A method used to deduct seismic fragility curve is method of maximum likelihood and the distribution function is assumed to the log normal distribution. It could evaluate the damage of underground utility tunnels to an earthquake and could be applied as basic data for seismic design of underground utility tunnel structures.

• Journal of Korea Society of Industrial Information Systems
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• v.29 no.4
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• pp.67-76
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• 2024

In this study, we address the problem of target detection using multiple agents. Specifically, the detection problem involving mobile agents necessitates additional strategies for path planning. The objective is to maximize the total utility derived from the detection process over a specific period. This detection problem incorporates realistic utility values by considering a stochastic process based on the Poisson process, which accounts for the changing probability of target event occurrence over time. The objective function is nonlinear and is classified as an NP-hard problem. To identify an effective solution within an efficient computation time, this study demonstrates that the objective function possesses the characteristic of submodularity. Using this property, we propose a heuristic algorithm designed to obtain a reasonable strategy with relatively low computational time. The proposed algorithm shows solution performance and the ability to generate solutions within an appropriate computation time through theoretical and experimental results.

• Korean Journal of Mathematics
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• v.22 no.3
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• pp.529-552
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• 2014

As we know, some indices and data are strong influence to the price movement of some assets now, but not to another assets and in future. Thus we define some asset models for several time intervals; intraday, weekly, monthly, and yearly asset models. We define these asset models by using Brownian motion with volatility and Poisson process, and several deterministic functions(index function, twitter data function and big-jump simple function etc). In our asset models, these deterministic functions are the positive or negative levels of auxiliary indices, of analyzed data, and for imminent and extreme state(for example, financial shock or the highest popularity in the market). These functions determined by indices, twitter data and shocking news are a kind of one of speciality of our asset models. For reasonableness of our asset models, we introduce several real data, figurers and tables, and simulations. Perhaps from our asset models, for short-term or long-term investment, we can classify and reference many kinds of usual auxiliary indices, information and data.