• Journal of Service Research and Studies
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• v.13 no.3
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• pp.105-126
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• 2023

The domestic used car market continues to grow along with the used car online platform service. The used car online platform service discloses vehicle specifications, accident history, inspection history, and detailed options to service consumers. Most of the preceding studies were predictions of used car prices using vehicle specifications and some options for vehicles. As a result of the study, it was confirmed that there was a nonlinear relationship between used car prices and some specification variables. Accordingly, the researchers tried to solve the nonlinear problem by executing a Machine Learning model. In common, the Regression based Machine Learning model had the advantage of knowing the actual influence and direction of variables, but there was a disadvantage of low Cost Function figures compared to the Decision Tree based Machine Learning model. This study attempted to predict used car prices of six domestic brands by utilizing both vehicle specifications and vehicle options. Through this, we tried to collect the advantages of the two types of Machine Learning models. To this end, we sequentially conducted a regression based Machine Learning model and a decision tree based Machine Learning model. As a result of the analysis, the practical influence and direction of each brand variable, and the best tree based Machine Learning model were selected. The implications of this study are as follows. It will help buyers and sellers who use used car online platform services to predict approximate used car prices. And it is hoped that it will help solve the problem caused by information inequality among users of the used car online platform service.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.230-233
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• 2003

As the consumer's consumption standard has raised, occupants' needs for the apartment is diversified and complicated. But the existing mass housing supply method has many problems and it couldn't satisfy the dwellers' various needs and overall expected life span. In order to correspond those needs, construction firms have introduced several method, such as plus option, minus option, on-time option, change up service and so on. The custom-built apartment is more supplementary and it can reflect the consumer's needs to the apartment directly. But after running the custom-built apartment, several problems is revealed. So. in this study, I defined the general idea of the custom-built apartment and then collect the case of the custom-built apartment.

• International Area Studies Review
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• v.14 no.2
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• pp.25-40
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• 2010

Accurate forecasting of volatility is of considerable interest in financial volatility research, particularly in regard to portfolio allocation, option pricing and risk management because volatility is equal to market risk. So, we attempted to delineate a model with good ability to forecast and identified stylized features of volatility, with a focus on volatility persistence or long memory in the Australian futures market. In this context, we assessed the long-memory property in the volatility of index futures contracts using three conditional volatility models, namely the GARCH, IGARCH and FIGARCH models. We found that the FIGARCH model better captures the long-memory property than do the GARCH and IGARCH models. Additionally, we found that the FIGARCH model provides superior performance in one-day-ahead volatility forecasts. As discussed in this paper, the FIGARCH model should prove a useful technique in forecasting the long-memory volatility in the Australian index futures market.

• The Korean Journal of Applied Statistics
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• v.36 no.1
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• pp.85-100
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• 2023

The stochastic volatility (SV) model is one of the main methods of modeling time-varying volatility. In particular, SV model is actively used in estimation and prediction of financial market volatility and option pricing. This paper attempts to model the time-varying volatility of the bitcoin market price using SV model. Hidden Markov model (HMM) is combined with the SV model to capture characteristics of regime switching of the market. The HMM is useful for recognizing patterns of time series to divide the regime of market volatility. This study estimated the volatility of bitcoin by using data from Upbit, a cryptocurrency trading site, and analyzed it by dividing the volatility regime of the market to improve the performance of the SV model. The MCMC technique is used to estimate the parameters of the SV model, and the performance of the model is verified through evaluation criteria such as MAPE and MSE.

• Journal of Labour Economics
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• v.41 no.3
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• pp.95-128
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• 2018

This study tries to measure the change in the state dependence of the three labor supply choices (part-time, full-time, and the state of unemployed) in Korean married women's labor market by estimating the dynamic multinomial logit model based on MSL (maximum simulated likelihood) method. A component representing individual's unobserved characteristics has been introduced, because it is crucial to control for unobserved heterogeneity in assessing the state dependence. Estimation results show that the state dependences of the three alternatives have strengthened recently. Therefore, part-time job has become more likely to be functioning as an extra option to participate in labor market rather than a bridge(stepping stone) or shelter between unemployment and full-time job.

• Korea Trade Review
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• v.47 no.2
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• pp.103-120
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• 2022

This paper studies the possibility of options as an instrument for central bank to intervene foreign exchange market. As opposed to spot transaction or forward transaction, which impacts spot exchange rate only once, currency options can continuously resist a directional speculative pressure on spot market due to the dynamic delta hedging of OTC currency options market maker. This research also analyzes whether and how central banks can use currency options to lower exchange rate volatility and maintain (implicit) target zones in foreign exchange markets. It argues that short position rather than long position in options will result in market makers dynamically hedging their long option exposure in a stabilizing manner, consistent with the first objective. Selling a "Strangle" allows a central bank to increase the credibility of its commitment to a target zone, and could have a lower expected cost than spot market interventions. However, this strategy also exposes the central bank to an unlimited loss potential. Therefore these kinds of intervention strategies must be used in the short run and temporarily.

• Environmental and Resource Economics Review
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• v.14 no.2
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• pp.493-518
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• 2005

It has been taken for 10 years since Climate Change Convention could it be made. And Kyoto Protocol will come into force as an international law as from 16. Feb 2005. As based on it, Annex I countries will implement their mitigation projects on GHG reductions and press developing countries on GHG reduction target. Korea has not duty target on it yet. But it will be held a COP(Conference of Party) on negotiation for reduction target of second commitment period. If Korea has a real duty, Industry sector should reduce GHG emissions. Then Market mechanism will be need to introduce for this. This study started having a question "Is it possible to introduce emissions trading in Korea?". To solve the problem, this study analysed GHG emissions, marginal abatement cost, market price with 11 companies of industry (about 36% of Korea emissions). minus target is impossible to implement reduction target ver base year (2002). And emissions trading scheme also can't make the market without additional policy and measures. This study suggest that it is need to import credits and give a subsidy of government to encourage it. The imported credit can reduce the demand curve within the marginal abatement cost curves. But the effectiveness of credit is not the same as continually growth. As a result, Allowing 40% credit into emissions trading market is the best to reduce costs. However, a subsidy is the little bit difference. A subsidy make marginal abatement cost curves down for itself. Giving 30% for subsidy, it is the best. Considering both of importing credits and subsidy, it is the best effects in the reducing cost for company. especially 30% is the best effects respectively. This Study show that government wants to consider designing emissions trading, encourage participants competitiveness, and encourage the early action, government has to allow credit trading and give a subsidy to participants.

• Environmental and Resource Economics Review
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• v.18 no.1
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• pp.1-22
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• 2009

The primary purpose of ITQ (individually transferable quota) is to reduce the overcapitalization problem in the open-access fishery. It has been argued that the least cost-efficient vessels under ITQ may exit first from the fishing by selling their quotas, thereby also reducing the excess capital. The purpose of this paper is to provide a case when ITQ may prompt the exit of less cost-inefficient vessels in the presence of irreversible exit cost which is proportional to the cost-inefficiency. Real option model is adopted in order to analyze the source of hysteresis associated with fishery exit decision. By linking the interaction between vessels' adjustment costs, cost-efficiency of harvest and uncertainty of fishery return, we show that cost-inefficient vessels will not exit always first from the fishery in contrast to the conventional wisdom. Relevant policy implications is discussed.

• The Korean Journal of Financial Management
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• v.20 no.1
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• pp.279-304
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• 2003

This study presents some empirical results on variable rate deposit insurance premium in Korea. The study estimates deposit insurance premium for all insured financial institutions in Korea using Ronn and Verma(1986) model which is based on Merton(1977)'s option pricing model. The sample period is 1995-2001 and the study includes trend analysis and cross-sectional analysis for premium estimation. The study also includes the correlation analysis between the estimates and profitability and capitalvariables such as BIS capital ratios, ROE and ROA. The results show that the estimates differ across financial institutions and sample periods. Thus it supports that each deposit premium should reflect its own risks. It also supports the necessity for the system of variable rate deposit insurance premium.

• Proceedings of the Korea Association of Information Systems Conference
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• 2005.05a
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• pp.273-280
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• 2005

프로덕트 라인은 다양하게 빠르게 변화하는 시장의 요구사항과 특정 도메인에 속하는 응용들 간의 재사용 가능한 아키텍처 및 컴포넌트의 구성으로부터 연관된 시스템 구축 시 생산성과 품질의 향상을 제공함으로써 현재 많은 관심의 초점이 되고 있다. 이들 프로덕트 라인에서는 프로덕트들 사이의 공통성과 변화성에 초점을 두고 이들 분류 방법으로 휘처 모델링이라는 개념을 주로 사용하여 분석하고 있다. 또한 재사용 가능한 아키텍처는 많은 변화 계획들과 메커니즘을 포함하고 있다. 그러나 지금까지 이러한 변화들이 일어나는 상황을 이해하는 것과 특별한 상황에서도 가능하게 하는 옵션들을 기록하는 것은 명확히 이루어지지 못하였다. 따라서, 명확한 변화성의 표현과 아키텍처에서 변경되는 적절한 위치를 식별하는 것이 중요하다. 그러므로, 본 논문에서는 휘처 모델을 기반으로 한 아키텍처 상의 컴로넌트 변화성과 컴포넌트 간의 관련성에서의 변화성 표현방법을 기술하고. 제시한 이론을 기반으로 웹 학습 시스템을 개발하고자 한다.