• Journal of Korean Society of Rural Planning
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• v.26 no.1
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• pp.137-147
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• 2020

Rural Development Administration (RDA) has developed a manufacturing technology which can increase the amount of platycodin D in Platycodon grandiflorum. A study is needed to estimate the value of this new technology and predict the market demand for a new product. This study estimates additional amount of willingness to pay (WTP) using contingent valuation method (CVM) for a new product with the technology that RDA has developed. The survey was created under virtual health functional foods market of Platycodon grandiflorums. It was conducted with 1,000 adult males and females aged between 19 and 59 years old in 17 major cities and provinces nationwide from December 4 to December 7, 2018. The amount of WTP for the health functional Platycodon grandiflorum was drawn using maxinum likelihood estimation method. The estimated average and median WTP values are 21,933.85 won per person and 10,000 won per person, respectively. The independent factors, including the ratio of monthly average health function food consumption to income, the average monthly income level of a household, and existence of family members or relatives engaged in food and nutrition-related professions in a household, have been shown to have a statistically significant influence on the WTP. This study presents the potential magnitude of health functional food market and the value of the new technology based on health functional food market.

• Proceedings of the Technology Innovation Conference
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• 2003.02a
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• pp.191-199
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• 2003

It is critical to select an appropriate technology valuation method when the characteristics of a technology and valuation environment are variable. To ensure high quality decision making when selecting a technology valuation method, it is necessary to understand the principles of a good technology valuation method, and define and apply a decision making theory for selecting an optimal method. The authors propose that Axiomatic Design Principles can be applied as a decision making theory. In order to apply Axiomatic Design for this problem, this paper describes four domains(customer, functional, physical, and process domain) and four axioms(independence, information, cost, time axiom) for the decision making process for the optimal technology valuation method. The result of this study will contribute flexibility to the dynamic technology valuation process.

• Journal of the Korean Society of Clothing and Textiles
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• v.30 no.5 s.153
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• pp.733-741
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• 2006

This study was to investigate categories of valuation and make the standard on developing valuation of natural dyes by Delphi method. The three-round Delphi tests were performed with 36 professional in the academic, the industrial, and the art field.'Dyeability property' meant levelling, adsorption, color diversity with mordant, color stability, 'marketability', possibility of mass production, economical efficiency, functionality, demand and supply of natural dyes, 'color', yield, beautiful color, value of color and 'color fastness', washing, perspiration and light fastness. Indigo, persimmon, cochineal, safflower and onion in dyeability property were evaluated highly, functional natural dyes in marketability, red and purple color ones except indigo in color and ones containing tannin in color fastness.

• Environmental and Resource Economics Review
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• v.10 no.1
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• pp.95-126
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• 2001

Functional values for wastewater treatment and atmospheric regulation in coastal wetland and rice paddy ecosystems are quantified, and an illustration is given on how to integrate biophysical parameters into a valuation framework. This is one of most controversial issues in economic analysis for wetland preservation versus wetland conversion to agricultural use. This paper includes theoretical considerations for estimating functional values of environmental ecosystems, and the integration of biophysical data and replacement cost method employed. Specific physical and geographical characteristics and data on ecosystem functions and services in coastal wetlands and rice paddies are addressed for evaluating their values in economic terms. In particular this paper indicates double counting problems and overestimation in the previous studies, and demonstrates how to avoid them and to maintain the consistency of valuation process involving a least-cost method, thus enables an accurate integration of the coastal wetland ecology and wetland economics. As a result which is far away from the previous studies, the total economic present value of wastewater assimilation by coastal wetland is estimated at 7,484,640 won/ha, and the net present value of positive effect for atmospheric regulation, negative effects for air pollution and water pollution by rice paddy is estimated at -37,934 won/ha, assuming that resources are infinitely long-lived and the annual value and the rate of discount (10%) is constant every year. In conclusion, for further reliability and validity of functional values for natural resources it is very noteworthy that a general equilibrium framework that could directly incorporate the interdependence between ecosystem functions and services would be preferred to the partial equilibrium framework.

• The Journal of the Korea Contents Association
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• v.12 no.10
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• pp.418-429
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• 2012

In this research, we analyzed empirically whether the valuation and compensation factor being moderating variable played the role of adjuster between KMS adoption factor(organizational factor, knowledge Informational factor, user factor) and business performance. The results of this research are as follows. First, The valuation and compensation factor affects the usage of KMS in case of organization's flexibility, trust, suitability of knowledge, degree of functional provision and perceived benefit. But it does not affect the usage of KMS in case of easiness of usage and user expertise. Second, The valuation and compensation factor affects the user's satisfaction of KMS in case of organization's flexibility, trust, degree of functional provision and user expertise. But it does not affect the user's satisfaction of KMS in case of suitability of knowledge, easiness of usage and perceived benefit.

• Journal of the Korean Society for Industrial and Applied Mathematics
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• v.14 no.4
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• pp.249-273
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• 2010

Often in practice, the implied volatility of an option is calculated to find the option price tomorrow or the prices of, nearby' options. To show that one does not need to adhere to the Black- Scholes formula in this scheme, Figlewski has provided a new pricing formula and has shown that his, alternating passive model' performs as well as the Black-Scholes formula [8]. The Figlewski model was modified by Henderson et al. so that the formula would have no static arbitrage [10]. In this paper, we show how to construct a huge class of such static no arbitrage pricing functions, making use of distortions, coherent risk measures and the pricing theory in incomplete markets by Carr et al. [4]. Through this construction, we provide a more elaborate static no arbitrage pricing formula than Black-Sholes in the above scheme. Moreover, using our pricing formula, we find a volatility curve which fits with striking accuracy the synthetic data used by Henderson et al. [10].

• Journal of Software Assessment and Valuation
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• v.17 no.1
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• pp.93-99
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• 2021

The demand for online education has rapidly increased due to the influence of COVID-19. One of the biggest challenges in engineering education is how to efficiently conduct experiments online. In this paper, for the virtual experimental system for microcontroller application that is essential for education in the field of electrical, electronic, and control engineering, we described the microcontroller functional modeling and implementation with Java language. The usefulness of the developed microcontroller module has been verified through educational field application.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.26 no.6D
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• pp.945-950
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• 2006

In implementing transportation projects, benefits have been estimated using conventional benefit components. However, these components have a lot of assumptions and limitations for benefit estimations and thus it seems to be difficult to obtain values of parameters as well as to overlook benefits of non-market goods in calculation process. In other words, current benefit estimations are considered that can be solely measured by directly depending on traffic volumes. Existing economic analysis do not reflect the full benefits, including direct and indirect of the project implementations. To illustrate this fact, bicycle road construction can result in various functional benefits, including improved quality of life, balanced regional development, and good scenery composition. These benefits can not be explained with conventional economic analysis. The objective of this research is to estimate valuation of bicycle road construction using Contingent Valuation Method (CVM). CVM can evaluate user's direct willingness-to-pay as well as maximize bicycle utilization with balanced regional development. This research used the coastline bicycle road construction project for example. The proposed method can be well calculated or estimated benefits for non-market goods of bicycle road constructions using CVM.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.34 no.1
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• pp.74-79
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• 2011

Engineering valuation is a specialized discipline requiring expert knowledge and judgment, which scientifically estimates the economic value of industrial properties. By industrial properties, we mean engineering structures such as mines, factories, buildings, machines, and other industrial facilities as well as facilities of public enterprises. Particular industrial properties can have longer economic life if their performance is excellent and they are still suitable for current manufacturing needs. If not, its economic life will be shorter. As speed of technological progress becomes rapid, life-cycle and development period of a product is becoming shorter. In an industry characterized by rapid development of technology, industrial properties can become obsolescent faster. Even if they are in good working order, they could be no longer suitable for manufacturing new products based on radically different technology. In our research, we apply engineering approach to estimating functional economic life by factoring in technological obsolescence in such an industry.

• Journal of Korean Society of Rural Planning
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• v.13 no.2
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• pp.51-61
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• 2007

The purpose of this paper is to estimate the economic value of Multi-functionality Roles including landscape and so on, which traditional stone fences in Korea possess, using Dichotomous Choice Contingent Valuation Method (DC-CVM). The stone fences is life cultural heritance of regional residents. It has functions like Development of Favorable Landscapes, Maintenance of Cultural Heritage, and Recreation/Relaxation. Expectation from regional visitors shows that the existence and inheritance value of the stone wall is higher then we expected. According to the research that we had done from the people that had agreed to contribute the stone wall. moreover the public commercial value of regional tradition stone was not only 2,900 billion won but also it will increase an economic gain in every year. Therefore, preserving the stone wall that has Multi-functional Roles and values can lead to huge economic value in the future. But farmhouses in the stone wall conservation area are being supported 9 billion won in every year. This is only 0.03% of the income that farmhouse earns per year. Thus, stone wall preservation policy and plan can raise green-tour commercial value of inland area as a long-term inside measurement. Those will have to be propelled continuously.