• Proceedings of the Korean Operations and Management Science Society Conference
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• 2005.05a
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• pp.904-913
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• 2005

This paper deals with an integrated problem of inventory control and dynamic pricing strategies for a commodity with price and sales-period dependent demand pattern, where a seller and customers have complete information of each other. The problem consists of two parts; one is each buyer's benefit problem which makes the best decision on price and time for buyer to purchase items, and the other one is a seller's profit problem which decides an optimal sales strategy concerned with inventory control and discount schedule. The seller's profit function consists of sales revenue and inventory holding cost functions. The two parts are closely related into each other with some related variables, so that any existing general solution methods can not be applied. Therefore, a simplified model with single seller and two customers in considered first, where demand for multiple units is allowed to each customer within a time limit. Therewith, the model is generalized for a n-customer-classes problem. To solve the proposed n-customer-set problem, a dynamic programming algorithm is derived. In the proposed dynamic programming algorithm, an intermediate profit function is used, which is computed in case of a fixed initial inventory level and then adjusted in searching for an optimal inventory level. This leads to an optimal sales strategy for a seller, which can derive an optimal decision on both an initial inventory level and a discount schedule, in $O(n^2)$ time. This result can be used for some extended problems with a small customer set and a short selling period, including sales strategy for department stores, Dutch auction for items with heavy holding cost, open tender of materials, quantity-limited sales, and cooperative buying in the on/off markets.

• The Journal of the Acoustical Society of Korea
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• v.18 no.8
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• pp.94-99
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• 1999

It is the hybrid structure of HMM and neural network(NN) that shows high recognition rate in speech recognition algorithms. And it is a method which has majorities of statistical model and neural network model respectively. In this study, we propose a new style of the hybrid structure of semi-continuous HMM(SCHMM) and radial basis function(RBF), which re-estimates weighting coefficients probability affecting observation probability after Baum-Welch estimation. The proposed method takes account of the similarity of basis Auction of RBF's hidden layer and SCHMM's probability density functions so as to discriminate speech signals sensibly through the learned and estimated weighting coefficients of RBF. As simulation results show that the recognition rates of the hybrid structure SCHMM/RBF are higher than those of SCHMM in unlearned speakers' recognition experiment, the proposed method has been proved to be one which has more sensible property in recognition than SCHMM.

• Journal of the Korean Data Analysis Society
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• v.20 no.6
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• pp.2933-2940
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• 2018

It is known that fruit is more affected by the weather than other crops. Therefore, in order to create high value for farmers, it is necessary to develop a wholesale price model considering the weather. Peaches produced under relatively limited conditions were chosen as subjects of study. The data were collected from 2015 to 2017 provided by okdab 4.0. The meteorological data used for the analysis were generated by weighting the cultivation area and the variables with high correlation among the weather data were selected from the day before to 7 days before. Randomforest, gradient boosting machine, and XGboost were used for the analysis. As a result of analysis, XGboost showed the best performance in the sense of RMSE and correlation, and price prediction was comparatively well predicted, but the accuracy of the trading volume prediction was not so good enough. The top three weather variables affecting to the peach were minimum temperature, average maximum temperature, and precipitation.

• The Journal of Economics, Marketing and Management
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• v.11 no.2
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• pp.23-32
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• 2023

Purpose: This study examines the effect of full information disclosure on seller profit when there exists information asymmetry between sellers and buyers, focusing on the risk averseness of buyers. By investigating the interaction between product quality and perceived risk through online sales data, we attempt to figure out the incentive structure of full information disclosure specifically when buyers are risk-averse, so that we can suggest more feasible information disclosure strategy to sellers. Research design, data and methodology: Our empirical model analyzes the sales data of collectible goods from a major online seller using Poisson regression. In our model, we have specifically considered risk-averseness of buyers by estimating the interaction effect between the product quality and perceived risk on seller profit, aiming for a more precise empirical analysis on sellers' incentive structure of full disclosure. Results: Our empirical analysis strongly supports the effect of interaction between product quality and perceived risk, showing that the incentive for full disclosure is much stronger when product quality is higher, and vice versa. Therefore, sellers are strongly encouraged to voluntarily reveal product weaknesses when their product quality is higher than average, while it is more profitable to hide any product defects when quality claim is lower than average. Conclusions: This study supports the related literature by confirming economic incentives for full disclosure, and also supplements and strengthens previous studies by presenting that the effect of interaction between product quality and perceived risk strongly affects seller profit. Our unique finding supports both mandatory disclosure and voluntary disclosure arguments and presents practical implications to marketing managers by suggesting that seller's incentive for revealing weaknesses depends on the level of seller's product quality.

• Asian-Australasian Journal of Animal Sciences
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• v.23 no.7
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• pp.848-854
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• 2010

The objectives of this study were to estimate genetic parameters for the carcass price and carcass traits contributing to carcass grading and to investigate the influence of each carcass trait on the carcass price using multiple regression and path analyses. Data for carcass traits and carcass prices were collected from March 2003 to January 2009 on steers of Korean cattle raised at private farms. The analytical mixed animal model, including slaughter house-year-month combination, linear and quadratic slaughter age as fixed effects and random animal and residual effects, was used to estimate genetic parameters. The effects of carcass traits on the carcass price were evaluated by applying multiple regression analyses. Heritability estimates of carcass traits were $0.20{\pm}0.08$ for carcass weight (CWT), $0.33{\pm}0.10$ for back fat thickness (BFT), $0.07{\pm}0.05$ for eye-muscle area (EMA) and $0.25{\pm}0.10$ for marbling score (MS), and those of carcass prices were $0.21{\pm}0.10$ for auction price per 1 kg of carcass weight (AP) and $0.13{\pm}0.07$ for total price (CP). Genetic correlation coefficients of AP with CWT and MS were $-0.35{\pm}0.29$ and $0.99{\pm}0.04$, respectively, and those of CP with CWT and MS were $0.59{\pm}0.22$ and $0.39{\pm}0.29$ respectively. If an appropriate adjustment for temporal economic value is available, the moderate heritability estimates of AP and CP might suggest their potential use as the breeding objectives for improving the gross incomes of beef cattle farms. The large genetic correlation estimates of carcass price variables with CWT and MS implied that simultaneous selection for both CWT and MS would be also useful in enhancing income.

• Journal of Environmental Policy
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• v.6 no.4
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• pp.103-127
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• 2007

This study presents the political economics models to explore the political landscape of special interest groups influencing the government's decision making process for implementing international environmental standard. Starting with the popular menu-auction types of lobbying frameworks in the literature, the study extends its scope of research to multi-principal and multi-agency based international interest group politics and its hybrid case in order to bring the interaction of the relevant interest politics to the fore. Within a specific factor model of international trade between 2 small open economies, we compare the political equilibrium environmental standards in different institutional frameworks which can be feasible in the sense of recently growing role of environmental interest group. Although the conventional finding suggests that cooperative bargaining between the two countries can attain the globally optimal level of the standard, the paper rather explains that the cooperation between the national interest groups and the hybrid case also generate the stricter standard then national interest politics usually do.

• Science of Emotion and Sensibility
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• v.6 no.3
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• pp.73-87
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• 2003

This research extends a general theory of human cognition to an applied domain of piloting skills. We examined how fast and accurately pilots achieve and maintain situation awareness in flight by measuring their consistency judgment between a written statement describing a flight situation and a cockpit display showing a current state of an aircraft. The goal of this research is to determine whether situation awareness is influenced by expertise level as a Auction of two different kinds of flight situation variables. It was revealed that flight situation variables representing relations between flight elements had an effect on situation awareness. Working memory was found to play a critical role in integrating a variety of flight information form multiple sources. It was also revealed that flight situation variables representing the contents of flight elements had influence on situation awareness in flight. These results were explained in a theoretical framework of a construction-integration model to reveal the cognitive processes underlying situation awareness in flight.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.34 no.11B
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• pp.1261-1271
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• 2009

Emergence of new mobile communication services has generated new demand for spectrum. Because spectrum is a scarce public resource, demand for spectrum would exceed supply. As the demand for spectrum grows, the spectrum management policy becomes one of the most important issues in mobile telecommunications industry. Huge license charges for spectrum usage may obstruct the growth of mobile telecommunications industry. We analyze spectrum charges by international comparison for the case of 3G mobile telecommunication spectrum assignment. There are mainly two types of methods in spectrum assignment of 3G service, one is the auction and the other is the beauty contest. This article aims to analyze factors which influence on spectrum charges and to study the characteristic of spectrum charges of some selected countries. This study suggests the multiple regression model about spectrum charges.

• The Journal of Society for e-Business Studies
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• v.19 no.1
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• pp.43-61
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• 2014

This research is an application of game theory to developing the supplier selection and demand allocation mechanism, which are the essential and major research areas of supply chain planning and operation. In this research, the most popular and widely accepted mechanism, the progressive reverse auction is analyzed and compared with the other game theoretic approach, Kalai-Smorodinsky Bargaining Solution in the viewpoint of holistic efficiency of supply chain operation. To logically and exquisitely compare the efficiencies, a heuristic algorithm based on Genetic Algorithm is devised to find the other optimal demand allocation plan. A well known metric, profit-cost ratio, as well as profit functions for both suppliers and buyer has been designed for evaluating the overall profitability of supply chain. The experimental results with synthesis data and supply chain model which were made to mimic practical supply chain are illustrated and analyzed to show how the proposed approach can enhance the profitability of supply chain planning. Based on the result, it can be said that the proposed mechanism using bargainging solution mayguarantee the better profitability for the whole supply chin including both suppliers and buyer, even though quite small portion of buyer's profitability should be sacrified.

• The Korean Journal of Food And Nutrition
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• v.15 no.3
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• pp.228-234
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• 2002

In this paper, we proposed a preparation of Jeung- pyun (Korean fermented steamed rice cake with sour taste and spongy texture) using fuzzy theory. Before this preparation was introduced, it thoroughly analyzed the existing data of Jeung-pyun preparation with sensory evaluation and instrumental measurement. It defined a membership auction of Fuzzy set by analyzed three sorts of data on Jeung-pyun. And it established the Fuzzy model using the quantity of materials as input, such as rice, flour, wheat flour and fermentation time, and the sensory test scores as output, such as grain, softness, sourness, chewiness, overall quality, pH value and volume, respectively. We got the results that the Fuzzy model was accord with the conventional method with sensory evaluation. And the validity of this method is shown through the computer simulation of the test data. Therefore, the proposed method by Fuzzy model will apply to make Jeung-pyun without sensory evaluation. This study will contribute to develop standard preparation for korean foods and expert system of preparation using computer system.