• KDI Journal of Economic Policy
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• v.32 no.2
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• pp.144-170
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• 2010

This paper considers the effect of various types of procurement auction system on competition focusing on the rate of successful bidding. We analyze the number of bidders and the rate of successful bids using online procurement data of the Public Procurement Service. The average number of bidders is 301 and the average rate of successful bids is 87.42% while the weighted average rate is 75.13%. These numbers show that there is quite strong competition among bidders and the rate is lower as the expected price is higher. When we analyze the data of price procurement auction, the rate is also shown to be lower as the expected price is higher. Furthermore, the rate decreases as the number of bidders increases which naturally makes the competition stronger. Meanwhile, the analysis finds that the inclusion of the onsite bidding, the PQ(Pre-Qualification) result, or major-10 winning companies cannot explain the rate much in our data. In case of turnkey-alternative, the average rate of successful bidding for 484 cases record 90.20%. The average is 84.89% with 120 alternatives and 91.97% with 364 cases of turnkey. The reason why the rate of turnkey-alternative is lower than that of price procurement auction is the lack of competition as well as the systematic difference. By setting up a model, we are able to explain the difference in rate caused by the respective reason. When we suppose there are 3 bidders in case of price procurement auction for a project that exceeds 100 billion won, the rate is expected to be around 64%. This implies that difference of 26% is caused by the systemic difference and 3% by the lack of competition. Therefore, we conclude that the difference in rate between turnkey-alternative and price procurement auction is caused mainly by the systemic difference. In case of PPP(Public Private Partnership) projects, among 154 projects in total, only 40% has more than 2 bidders that compete. The average number of bidders is 1.88 which is less than 2, and the average rate of successful bids is 90%. In sum, under the price procurement auction, there is strong competition which is reflected by the rate of successful bids. However, there is room to decrease the rate by strengthening the competition under the turnkey-alternative. Also with PPP projects, we expect the rate can be steadily reduced with revived competition among bidders.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.12 no.4
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• pp.1638-1654
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• 2018

The heterogeneous network (HetNet) has been one of the key technologies in Long Term Evolution-Advanced (LTE-A) with growing capacity and coverage demands. However, the introduction of femtocells has brought serious co-layer interference and cross-layer interference, which has been a major factor affecting system throughput. It is generally acknowledged that the resource allocation has significant impact on suppressing interference and improving the system performance. In this paper, we propose a hybrid-clustering algorithm based on the $Mat{\acute{e}}rn$ hard-core process (MHP) to restrain two kinds of co-channel interference in the HetNet. As the impracticality of the hexagonal grid model and the homogeneous Poisson point process model whose points distribute completely randomly to establish the system model. The HetNet model based on the MHP is adopted to satisfy the negative correlation distribution of base stations in this paper. Base on the system model, the spectrum sharing problem with restricted spectrum resources is further analyzed. On the basis of location information and the interference relation of base stations, a hybrid clustering method, which takes into accounts the fairness of two types of base stations is firstly proposed. Then, auction mechanism is discussed to achieve the spectrum sharing inside each cluster, avoiding the spectrum resource waste. Through combining the clustering theory and auction mechanism, the proposed novel algorithm can be applied to restrain the cross-layer interference and co-layer interference of HetNet, which has a high density of base stations. Simulation results show that spectral efficiency and system throughput increase to a certain degree.

• The Journal of Korean Institute of Communications and Information Sciences
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• v.40 no.9
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• pp.1802-1807
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• 2015

The cloud computing service provides physical IT resources to VM instances to users using virtual technique and the users pay cost of VM instances to service provider. The auction model based on cloud computing provides available resources of service provider to users through auction mechanism. The users bid spot instances to process their a job until its deadline time. If the bidding price of users is higher than the spot price, the user will be provided the spot instances by service provider. In this paper, we propose a new bidding strategy to minimize the total cost for job completion. Typically, the users propose bidding price as high as possible to get the spot instances and the spot price get high. we lower the spot price using proposed strategy and minimize the total cost for job completion. To evaluate the performance of our strategy, we compare the spot price and the total cost for job completion with real workload data.

• The Journal of Fisheries Business Administration
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• v.5 no.1
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• pp.9-42
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• 1974

Korea is a peninsular country surrounded by seas on three sides, and the fishing industry has carried out the service of suppling to the people with important anima protein. The distribution of fishery products has very complicated structures, because the production is in charge of small producers scattering along the coast all over the country, while consumpstion is made by separate homes in areas away from producing district. The relation between these two factors the structures make very complicated. The most typical and special structures of fishery distridution are distinguished in two, that is, one is landing market, the other is inland market. Landing markets have been monopolized by fishermen's cooperatives, providing with landing facilities and building sites. Fish markets played not only an important role in the landing, but distribution and price determination of catches by auction or tender. Inland markets are two types of wholesale market in consuming center, one is the terminal market for urban consumers, the other type is the local market for rural consumers. Fundamental functions of landing markets are gathering, assessment, and distribution functions. Gathering function is in charge of wholesaler in fishery cooperative. Gathering amounts are equal to gathering capacity of wholesaler and transact ability of licensed dealers as shown below model. Gathering amount=f.gathering capacity(=pre price.landing facility.account of wholesaler.distance of fishing ground.conveniency purchasing.home port)=fㆍ transact ability of licensed dealers≒f.population or port, and table 1 indicates these relationship. Assessment and distribution functions are in charge of licensed dealers in consumption side. Assessment function should bring the value in production activity through the auction between the cooperative seller and the licensed dealer as buyer. For fair trade transaction in auction, the free competition is supposed to be a prerequisite among the licensed dealers. The ideal condition for free competition is sameness in the scale of buying amount by licensed delaers, but it is almost impossible to attain its goal in actual marketing.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.14 no.11
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• pp.5403-5410
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• 2013

This study investigated the effect of symbolic meanings of the artwork objectives on auction price. Based on Buck(1948)'s House-Tree-People(H-T-P) model, we hypothesized that symbolic meanings of these objectives invoke preferences of bidders and increase the price. Using 402 auction price data from June 2010 to May 2011, we found that an artwork including house and people tend to be auctioned off at a higher prices than the artwork without them. This study confirmed that Buck's model can be used to determine artwork price, suggesting that symbolic objectives in the artwork do affect its price.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.635-645
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• 2020

This research was conducted to achieve several objectives and focus research was based on financial behavior theory and prospect theory as grounded theory e.g., investigate the financial decision-making behavior between financial and real assets investment, and confirm the relationship existing between herding behavior and overconfidence factors to the level of loss and regret aversion, and financial literacy into real assets investment decisions. The study used 220 real estate auction respondents as investor samples at the State Assets and Auction Service Office Makassar, South Sulawesi, Indonesia. Data was collected through the use of a questionnaire consisting of 23 questions to measure the variables. Moreover, the research data passed through several feasibility tests like the inner and outer modeling by Partial Least Square - Structural equation model (PLS-SEM) while the hypotheses formulated were also tested to determine the magnitude of the variable relationship. Through the use of the direct and intervening test, loss and regret aversion variables have a positive and significant effect while financial literacy variables have no significant effect. There is a slight difference in the decision-making process for real assets and financial assets investors. Investment decision making behavior in the financial assets sector requires less complicated decisions compared to the decisions related to real assets investments.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.29 no.1
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• pp.76-86
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• 2006

다양한 데이터 마이닝 기법들의 발전과 더불어, 속성(Feature 또는 Attribute)의 범위(Dimension)를 줄이기 위해 많은 요소 선택 방법이 개발되었다. 이는 확장성(Scalability)을 향상시킬 수 있고 학습 모델(Learning Model)을 더욱 쉽게 해석할 수 있도록 한다. 이 논문에서는 네스티드 분할(Nested Partition, 이하 NP)을 이용한 새로운 최적화 기반 속성 선택 방법을 NP 기본 구조와 다양한 실험 문제의 수치적 결과들과 함께 제시하여 어떻게 NP의 최적화 구조가 속성 선택 과정에 기여를 하고 있는지 보여준다. 그리고 이 새로운 지능적인 분할 방법이 어떻게 매우 효율적인 분할을 수행하는지를 제시한다. 이 새로운 속성 선택 방법은 필터(Filter)방법과 래퍼(Wrapper)방법 두 가지로 구현될 수 있다. 사례 연구로서, B2B e-비즈니스 시스템에서 효과적으로 사용될 수 있는 추천 시스템(Recommender System)을 제안하였다. 이 추천 시스템은 분류 기법(Classification Rule)과 제시된 NP 기반 요소 선택 방법을 사용하고 있다. 이 추천 시스템은 사용자의 인터넷 경매 참여를 추천하는데 사용되며, 이 때 제안된 요소 선택 앨고리듬은 추천 규칙들이 쉽게 이해될 수 있도록 모델을 간략화 하는데 사용된다.

• The Journal of the Korea Contents Association
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• v.21 no.6
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• pp.552-560
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• 2021

With the recent development of the art distribution system, interest in art investment is increasing rather than seeing art as an object of aesthetic utility. Unlike stocks and bonds, the price of artworks has a heterogeneous characteristic that is determined by reflecting both objective and subjective factors, so the uncertainty in price prediction is high. In this study, we used LSTM Recurrent Neural Network deep learning model to predict the auction winning price by inputting the artist, physical and sales charateristics of the Korean artist. According to the result, the RMSE value, which explains the difference between the predicted and actual price by model, was 0.064. Painter Lee Dae Won had the highest predictive power, and Lee Joong Seop had the lowest. The results suggest the art market becomes more active as investment goods and demand for auction winning price increases.

• Asia pacific journal of information systems
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• v.13 no.3
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• pp.23-39
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• 2003

Recently, many organizations in various industries have introduced e-business for the purpose of adding value to their business. But, the e-business model has not existed before and so, it is difficult to analyze clear effectiveness. It frequently does not live up to an organization's expectations. It is due to an absence of environmental changes analysis in the new model, not by a new model itself. System Dynamics(SD) may provide effective results as a tool of analysis for the new model. This research shows the analysis of the effects of a simulated e channel model, which was expanded from existing channel modeling with actual data in basic materials industries. The results show average prices increasing by auction process on the e-market and an increase in sales. So, by increasing the speed of sale revolution stock expenses are reduced. Additionally, we applied a possible scenario to the developed simulation model and investigated strategic issues to draw desirable strategies with market changes.

• Proceedings of the KSR Conference
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• 2001.10a
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• pp.35.1-40
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• 2001

This study is on the behavior analysis which can define and verify a system requirement through a behavior diagram for High speed rail system. The model considered in this study is limited to the preconditioning control of the control system specification for HSRS. To build an executable model, requirements should be decomposed first into leaf node requirements. The behavior model is composed of input, output, and functions which are linked with leaf node requirements. It is important that a single requirement must specify a single Auction. Using the developed executable model and the traceability between requirements and functions, this study found out a lot of static and dynamic inconsistency, missed and derived requirements. This is to develop and executable behavior model to do functional analysis and be able to verify the integrity of a specification.