• Journal of Digital Convergence
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• v.15 no.11
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• pp.107-112
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• 2017

This paper performed an experimental study to test the validity of the prospect theory proposed by Tversky and Kahneman as an alternative to the expected utility theory. 115 college students attended the hypothetical games to choose one of two lotteries, one is safe option while the other one is risky. The risky options were set up to have low, medium or high probability of payoffs or losses. The amount of payoffs and losses of the lotteries was either large or small. Maximum likelihood estimation of the hypothetical games have shown that in case of high probability of positive payoffs the respondents were risk averse and when the probability of positive payoffs were small the respondents were risk loving. when the possibility of loss is high they were risk loving, while the probability is of loss is low the respondents were found to be risk averse. When the probability of risky options were medium the results were significant statistically in case of only losses. The amount of positive payoff or losses does not affect the results. Overall the results of this experiments support the prospect theory more than those of Laury & Holts (2008).

• Journal of the Korea Academia-Industrial cooperation Society
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• v.15 no.9
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• pp.5487-5494
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• 2014

This study examined the relationship between income and the value of leisure to develop a more accurate model of the labor market without necessarily losing the primary merit of the received model. Moreover, with an improved understanding of the labor market dynamics, it can be seen that progressive era labor market legislation, which was designed to mitigate the effects of the bargaining power inequality in low wage labor markets, was in fact based on sensible economic foundations. These low-wage dynamics present an example of a positive feedback system or "vicious circle" at work in the economy. The market dynamics of the low wage sector push the wage away from the range that is consistent with a self-regulating market.

• Journal of Advanced Navigation Technology
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• v.21 no.6
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• pp.608-613
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• 2017

In this paper, we consider the stability bound for uncertainty of delayed state variables in the linear discrete interval time-varying systems with time-varying delay time. The considered system has an interval time-varying system matrix for non-delayed states and is perturbed by the unstructured time-varying uncertainty in delayed states with time-varying delay time within fixed interval. Compared to the previous results which are derived for time-invariant cases and can not be extended to time-varying cases, the new stability bound in this paper is applicable to time-varying systems in which every factors are considered as time-varying variables. The proposed result has no limitation in applicable systems and is very powerful in the aspects of feasibility compared to the previous. Furthermore. the new bound needs no complex numerical algorithms such as LMI(Linear Matrix Inequality) equation or upper solution bound of Lyapunov equation. By numerical examples, it is shown that the proposed bound is able to include the many existing results in the previous literatures and has better performances in the aspects of expandability and effectiveness.

• Proceedings of the Korea Water Resources Association Conference
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• 2011.05a
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• pp.455-455
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• 2011

개발로 인한 환경변화는 관련 분석모형을 통해 직접적으로 예측하기 하는 것이 가장 바람직하지만 데이터 취득의 어려움, 분석 방법론의 부재 등의 이유로 정량적 평가가 어려운 현실이다. 그렇기 때문에 수자원사업을 계획시 대부분 환경적인 영향을 매우 정성적인 형태로 평가하거나 수질과 같은 대표적인 항목에 대해서만 예측하는 수준이다. 기존의 연구 또한, 유역 또는 행정구역의 현재의 현 상황을 평가하기 위한 것이 주이며, 수자원사업과 관련성이 적은 항목도 일부 포함되어 있기 때문에 수자원사업의 특수성을 반영하기에 한계가 있다. 현 상황의 이러한 문제점을 인식하여 본 연구는 오늘날 대표적 의사결정 기법이라 할 수 있는 계층화분석과정(AHP)과 다속성효용이론(MAUT)을 활용하여 향후 수자원사업과 관련된 다기준의 사결정 과정에서의 환경성 평가방안을 제시하였다. 환경성 평가기준은 수질, 경관, 생태계 이렇게 세 가지 항목으로 구성하였고, 각 평가기준에 대한 수준을 직접적으로 대변 가능한 정량화 방안을 제시하였다. 그리고 앞서 정량화된 값을 표준화하기 위하여 MAUT 기법으로부터 평가기준별 효용함수를 도출하였다. 한편, 사업을 시행함에 따라 예상되는 환경성변화는 사업전 환경성과 사업 후 환경성을 비교하도록 하였고, 이때 해당사업의 특수성을 반영하고자 별도의 설문과정을 통해 평가기준별 가중치를 결정하였다. 본 연구는 환경성 검토시 생태학적, 물리적 분석에 기반을 둔 정량적 예측의 어려움을 보완하기 위해 정성적 예측을 추가적으로 제시하였고, 사업의 특수성과 평가항목이 갖는 일반성을 명확히 구분하여 의사결정 과정에서 주관적인 요소를 최소화하였다. 또한, 평가항목별 사업전후의 환경성을 비교, 검토함으로써 실제 사업추진 과정에서 개발로 인한 부정적 영향의 사전예방에 도움을 줄 수 있을 것으로 판단된다.

• Journal of Korean Society of Transportation
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• v.23 no.2
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• pp.151-160
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• 2005

In case of public transit such as bus system, the probability concept is used to evaluate the Level-of-Service of the operations. And each levels could be classified according to the linear probability value. (TCQSM: Transit Capacity and Quality of Service Manual-2nd Edition, TRB, Washington DC., 2003) In this case, the drivers or passengers wouldn't think that the service level isn't equivalent to the linear probability value. Thus the linear probability value doesn't exactly reflect the service level. This study shows the problems of using the linear probability value in classifying the service level through the case of evaluation of bus operation's punctuality, presented in TCQSM. To make up for the problems of such case, two methodologies are presented in this study. The method of determining Level-of-Service criteria using probability density of headway variation's distribution, presented in this paper, adequately reflects passenger's expected waiting time. According to the application result to real bus operation data, it tis better than the method of TCQSM to evaluate the reliability of bus operations. However further research about the relations between utility difference and passenger feeling of service level in necessary to apply the method that uses the utility function. It remains as the limitation of this paper.

• KDI Journal of Economic Policy
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• v.12 no.4
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• pp.97-111
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• 1990

This paper examines the effect of redistributive inheritance tax on income distribution and social welfare. The model used here is the Overlapping-Generations Model consisting of individuals with different bequest motives where the lifetime income distribution in each cohort is determined endogeneously by the dynamic bequest process. It is shown that the introduction of redistributive inheritance tax can improve the vertical equity in the sense that the increase in tax rate reduces the coefficient of variations of intra-cohort income distribution in steady-state. However, it is also shown that, the effect on social welfare, when measured by Benthamite SWF, is uncertain in general. The numerical simulations show that, in spite of its equity-enhancing effect, the tax increase can actually lower the steady-state social welfare within the plausible range of parametric values, through the long-run output effect as well as the deadweight welfare loss incurred by tax distortion. Hence, the problem of equity-efficiency trade-off can arise in this case. However, if both the market interest rate and the elasticity of marginal utility in individual's preference function are sufficiently high, it is shown to be possible that the steady-state social welfare is enhanced by the introduction of inheritance tax.

• Environmental and Resource Economics Review
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• v.29 no.3
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• pp.335-362
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• 2020

Using the Hedonic pricing model using Box-Cox transformation, this paper estimated the marginal effect (implicit price) of odors from landfill in the metropolitan area on housing prices and the willingness to pay for changes in certain odor conditions. This paper utilized the proximity from the landfill in the metropolitan area as a environmental variable, and analyzed the effect of various housing characteristic variables on the sale price of apartments within a radius of 5 km from the landfill. In particular, because odors factor have various heterogeneity, we applied hedonic price models instead of stated-preference methods with various types of functional forms through Box-Cox transformation, considering the heterogeneity of each region. Estimates show that the marginal value (implicit price) for the distance from the odor source was 0.227 to 0.533 depending on the function type of the estimated model. In addition, when other house factors are the same, the marginal willingness to pay for a distance of 1km from the odor source was calculated to be 16.79 to 51.76 thousand dollar depending on the type of function. Finally for the general Box-Cox model, the annual WTP was estimated to be 3,229dollar.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.32 no.4B
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• pp.233-242
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• 2012

In the past, the domestic water supply benefit of dam has been estimated by replacement dam cost approach. But it is logically inappropriate that we use the second priority dam as a replaced facility. Therefore, this study aims to suggest the estimation method of the domestic water supply benefit by using demand function, which is deduced from Willingness-To-Pay (WTP) of consumers. For this purpose, a survey concerning the marginal WTP is carried out according to the change of water use amount used, targeted 1,000 households in metropolitan area. And by using the marginal WPT, we estimated the demand function of a family. Finally, the monthly benefit equation is derived. The approach is demonstrated and discussed for an example, the Song-Li-Won dam project which is now renamed Young-Ju dam. From the example study, the total benefit for the durable years (50 years), was about 90 billion won. The method proposed herein is expected to be practical and useful in the economic analysis of the domestic water supply project including dam construction, as well as in further studies.

• Korean Journal of Social Welfare
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• v.64 no.1
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• pp.53-77
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• 2012

The Easterlin Paradox is widely accepted as a pioneer of happiness study in social science disciplines including Economics, Psychology, and Sociology. Moreover, it should be noted, the paradox has abundant implications on many social issues such as 'economic growth or social equity', 'basic income' and so forth. It is in this regard that this paper purports to understand debates around the paradox. For this purpose, the chapter two examines the theoretical perspectives of the Easterlin Paradox, and accordingly the chapter three examines the Easterlin Paradox debates since the early 1990s. In the context of the Easterlin paradox debates, the chapter four scrutinizes the debates around satiation point in income-happiness nexus and duly concludes with some social welfare implications.

• The Journal of the Institute of Internet, Broadcasting and Communication
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• v.21 no.6
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• pp.9-15
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• 2021

The current study examined the cyber learners' perceptions of the educational usefulness of Grammarly, an online grammar checker, after it was used to provide feedback to cyber university students in a situation where the instructor could not provide sufficient feedback on their written work in English. The survey results, revealed that the majority of learners had positive attitudes to the usefulness of Grammarly. In particular, the feedback immediately available whenever needed was regarded as helpful in improving English sentences, and most learners were highly satisfied with the amount of the feedback provided by Grammarly. It was also found that Grammarly had positive effects in terms of the affective domains, helping learners to improve their interest and confidence in English writing. In particular, Grammarly was found to be effective in reducing writing anxiety in English, one of the main factors negatively affecting writing performance in English. However, along with these positive results, limitations such as inaccurate feedback and inadequate explanation of errors were also found. Therefore, when Grammarly is used for English education, it is necessary to conduct multifaceted research to develop effective teaching methods that can minimize the problems that may arise from these limitations.