• Journal of Navigation and Port Research
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• v.31 no.10
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• pp.819-824
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• 2007

This paper studied safety benefit of operation-effectiveness analysis on marine traffic safety facilities. In the operation-effectiveness of marine traffic safety facilities the benefits can be divided as safety benefit, transport benefit, and other benefit. Safety benefit was produced as the loss aversion cost of marine traffic caused by the reduction of marine accidents after establishing and operating marine traffic safety facilities. First of all the reduction rate marine accidents was estimated to do it, and the detail model of loss aversion cost was constructed Then each variable in the model was defined and the method of computation presented.

• KDI Journal of Economic Policy
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• v.36 no.1
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• pp.43-80
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• 2014

This study suggests a model for calculating total benefit rigorously to use the contingent valuation method (CVM) in cost-benefit analysis (CBA). Estimating households' willingness to pay through survey method, the study attempts to demonstrate if a respondent's income and the distance between a respondent's residence and the location of a target facility affect her willingness to pay. The estimation results from a structural model show that income and distance-decay effects exist and that the calculated total benefit varies largely when these effects are ignored. The study emphasizes the effects of income and distance-decay on the total benefit must be carefully considered in using CVM for CBA. Even though the total project cost is precisely estimated, the benefit/cost (B/C) ratio may differ largely when the total benefit is not correctly calculated. Also, an ad hoc model generates significantly different estimates from the utility difference model this study adopted. The difference in estimates suggests that the total benefit has to be estimated by a structural model. Finally, simulations are performed to check the validity of the model as well as to predict consequences when income and distance-decay effects are not properly treated. The results from simulations reveal it is not desirable to ignore those effects considering the perspectives of balanced regional development.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.8 no.4
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• pp.946-951
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• 2007

R&D institutes, supporting development in industry, are required to provide an economic basis of their R&D investments. In this paper, we apply prospective cost-benefit analysis to evaluate the economic impact of R&D investments. We compute main metrics with cost and benefit estimated via counter-factual evaluation model. Among many projects of KRISS to improve measurement reliability, three projects are evaluated by applying prospective cost-benefit analysis.

• Journal of the Korea Institute of Building Construction
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• v.13 no.4
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• pp.416-423
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• 2013

An adjusted assessment model based on benefit-cost analysis (BCA) is proposed for evaluating the economic efficiency of automated construction technologies. In contrast to conventional BCA, the model does not compare monetary values, but the differences in benefits and costs between traditional and automated construction methods. To verify the usefulness of the model, it was applied to a real-scale building construction project that used a fully automated building construction system, and the face validity of the model was confirmed. The results indicate that the model can support decision makers in identifying valuable benefit factors and in assessing the cost effectiveness of the system.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.65 no.6
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• pp.969-978
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• 2016

Around the world are increasing the demand for ESS. Currently, the domestic is expected to benefit by operating ESS. In the domestic, it is expected to benefit from operations of the installed ESS because of the introduction of ESS less capacity. However ESS capacity to the maximum profit occurs is unknown. ESS is different from the charge-discharge characteristics and the reserve to replace, depending on the application. Therefore, it should be established in accordance with the ESS optimal capacity according to the purpose used because it can maximize the quality and efficiency of the electric energy. To the ESS optimal capacity estimation by the purpose used, It should compare the investment cost caused by ESS facility installation and operation cost caused by operating ESS. In this paper, the operation mathematical model for estimating marginal operation costs established. In operation mathematical model, operating cost is considered fuel cost and no-load cost start-up cost. Because no-load cost and start-up cost are not related to cost and power plant output, there are expressed an integer variable costs as a step function.

• The Korean Journal of Applied Statistics
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• v.28 no.4
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• pp.621-641
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• 2015

Benefit-cost ratios are estimated using life-expectancies of the national pension old-age pensioners in Korea and a compared to whole nation. To obtain the ratios, future mortalities are estimated by multiplying the ratios of experienced mortalities for old-age pensioners to those of the whole nation and the future mortalities of the whole nation projected on an expanded CBD model. The results indicate that the life expectancies of old-age pensioners are longer than the whole nation that lead to higher benefit-cost ratios for old-age pensioners.

• Magazine of the Korean Society of Agricultural Engineers
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• v.40 no.2
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• pp.69-80
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• 1998

The optimal reservoir storage capacity is needed to be determined at the stage of reservoir planning. The reservoir storage capacity should be based on water balance between demand and supply, and meet the water deficity during the growing season. However, the optimal reservoir storage capacity should be determined considering benefit-cost analysis for the project. In this study, Two models are developed. The one is the RSOM(Reservoir Storage Optimization Model), that is consisted by three submodels, MROPER (Modified Reservoir OPERation model), RESICO(REservoir SIze and the construction COst computation) model. And the other is the BECA(BEnefit-Cost Anaysis) model. For model application, three districts, Chungha, Ipsil and Edong were selected. The relative difference of B/C ratio between project planning data and estimation by RSOM is 17.9, 15.0 and 7.3% respectively, which may be applicable for water resources development feasibility planning.

• KIISE Transactions on Computing Practices
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• v.23 no.4
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• pp.256-261
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• 2017

The notion of System of Systems (SoS), which is composed by many independent systems (i.e., Constituent Systems, CS), has emerged in various domains including social infrastructure. It is widely expected that complex requirements, which cannot be achieved in each CS-level, will be achieved in an SoS-level. While verification of SoS-level goal achievement is one of the most important problems, concrete case studies on SoS modeling and verification are still rare. In this paper, we focus on the fact that each CS performs an action for its own purpose by its own decision-making mechanism. We propose a novel Action-Benefit-Cost (ABC) SoS model which caters to the independent decision-making mechanisms of CSs. Using an abstract SoS example, this proposal provides a case study for the modeling and quantitative verification of the ABC SoS model.

• Journal of the Korean Society for Library and Information Science
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• v.39 no.2
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• pp.35-55
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• 2005

This study attempts feasibility analysis of cataloging outsourcing. The economic analysis model based on information economics categorizes the benefit into direct benefit and value linking. We measure direct benefit by cost savings and cost avoidance, value linking by the degree of improvement in cataloging quality The results show that there is no feasibility overall, because librarians spent more time to control the quality due to vendor's lack of professionalism, resulting little effect on cost savings. When cataloging outsourcing is forcibly used under the economically infeasible condition, it is impossible to achieve the basic purpose of operating cost savings and improvement of service function.

• Journal of Korean Institute of Industrial Engineers
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• v.27 no.4
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• pp.337-344
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• 2001

As cost invested in developing the specified technology is increasing, investors are paying more attention to cost to benefit analysis (CBA). One of the basic elements of CBA for new technological development is the diffusion pattern of demand of such technology. Many studies of technology evaluation have adopted a single generation model to simulate the diffusion pattern of demand. This approach, however, considers the diffusion of the new technology itself, not taking into account a newer generation that can replace the one just invented. In this paper, we show how a multi-generation technology diffusion model can be applied for more accurate CBA for information technology. Monte Carlo simulation is performed to find influential factors on the CBA of a Cybernetic Building System.