• Title/Summary/Keyword: Choice Theory

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Application of Logit Model in Qualitative Dependent Variables (로짓모형을 이용한 질적 종속변수의 분석)

  • Lee, Kil-Soon;Yu, Wann
    • Journal of Families and Better Life
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    • v.10 no.1 s.19
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    • pp.131-138
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    • 1992
  • Regression analysis has become a standard statistical tool in the behavioral science. Because of its widespread popularity. regression has been often misused. Such is the case when the dependent variable is a qualitative measure rather than a continuous, interval measure. Regression estimates with a qualitative dependent variable does not meet the assumptions underlying regression. It can lead to serious errors in the standard statistical inference. Logit model is recommended as alternatives to the regression model for qualitative dependent variables. Researchers can employ this model to measure the relationship between independent variables and qualitative dependent variables without assuming that logit model was derived from probabilistic choice theory. Coefficients in logit model are typically estimated by the method of Maximum Likelihood Estimation in contrast to ordinary regression model which estimated by the method of Least Squares Estimation. Goodness of fit in logit model is based on the likelihood ratio statistics and the t-statistics is used for testing the null hypothesis.

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What Does the Classic Style of Clothing Actually Mean to Consumers?

  • Kwon, Yoo Jin
    • International Journal of Costume and Fashion
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    • v.17 no.1
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    • pp.29-39
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    • 2017
  • This study seeks to understand the consumer meanings of wearing classic styles. A qualitative research method was adopted, and 16 participants in the United States were interviewed and asked to define a classic fashion or style and why they wear one. Grounded theory was used for the research. The findings revealed three themes: (1) A classic style represents conservatism in style; (2) Style pragmatism refers to the positive attributes of wearing a classic style; and (3) consumers expect to continue to wear that classic style in the future. Those who are fashion-forward also expect to wear classic clothing in the future as they grow older. For people who do not follow fashion, classic is also a safe choice. The implications of these findings are discussed.

Risk-Taking Decisions with Major IS Investment;System Downsizing Case

  • Shim, Seon-Young;Lee, Byung-Tae
    • 한국경영정보학회:학술대회논문집
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    • 2007.06a
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    • pp.339-344
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    • 2007
  • In the cut-throat competitive environment of business, large-scale IS investment is becoming inevitable strategic necessity for gaining competitive advantage. However. it bears great deal of risk over all the associated processes so that the investment decisions need to be taken in a greatly careful manner. Nonetheless, Korean organizations are prominently showing risk taking behaviors regarding major is investment, in terms of system downsizing. Although decision theory argues decision makers' rational choice of options through the assessment of risk and benefit, the notable trend toward system downsizing in Korea defies common understandings on IS project risk. Furthermore, it encourages us to investigate many impenetrable characteristics underlying organizational risk taking decisions with IS investment. We found out that there is Significant effect of IS decision makers' risk propensity when they make system downsizing decisions. Moreover. we Identified that IS decision makers do not get a strong pressure of cost savings and have tendencies to mimic competitor's decisions.

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A Study on the Dynamic Programming for Control (제어를 위한 동적 프로그래밍에 관한 연구)

  • Cho, Hyang-Duck;Kim, Woo-Shik
    • Proceedings of the Korean Society for Noise and Vibration Engineering Conference
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    • 2007.11a
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    • pp.556-559
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    • 2007
  • The notion of linearity is fundamental in science and engineering. Much of system and control theory is based on the analysis of linear system, which does not care whether it is nonlinear and complex. The dynamic programming is one of concerned technology when users are interested in choosing best choice from system operation for nonlinear or dynamic system‘s performance and control problem. In this paper, we will introduce the dynamic programming which is based on discrete system. When the discrete system is constructed with discrete state, transfer between states, and the event to induct transfer, the discrete system can describe the system operation as dynamic situation or symbolically at the logical point of view. We will introduce technologies which are related with controllable of Controlled Markov Chain as shown example of simple game. The dynamic programming will be able to apply to optimal control part which has adaptable performance in the discrete system.

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A Study on the Relationship-Orientation of Customers toward Business (고객 관계지향성 형성에 관한 연구)

  • 오세조;박진용;김평래
    • Journal of Distribution Research
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    • v.4 no.2
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    • pp.41-58
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    • 1999
  • The relationship-orientation is an important concept for understanding both of marketing theory and practice. However, not many research have focused on how to develop the relationship-orientation of end users. Therefore, the objective of this research is to confirm the key factors relevant to the relationship-orientation. This research studies(1) the transaction style of individuals, and (2) social influences on the relationship-orientation. Customers want to reduce the number of choice sets because of transaction style, including (1) efficiency of decision making, (2) simplification of information processing, (3) avoidance of future perceived risk, and (4) pursuit of cognitive consistency. Customers are influenced by social factors such as family members, reference groups, and opinion leaders. The following conclusions were drawn based on results of research analysis: (1) efficiency of decision making and avoidance of future perceived risk affect the relationship-orientation, and (2) influences of family members and opinion leaders to the focal relationship affect the relationship-orientation of individuals.

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Dynamic Optimal Pricing for New Products in a Duopoly (복점시장에서 신상품의 동태적 최적가격설정에 관한 연구)

  • Jun, Duk-Bin;Choi, Li-Koon
    • Journal of Korean Institute of Industrial Engineers
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    • v.23 no.3
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    • pp.545-557
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    • 1997
  • This paper deals with dynamic optimal pricing for new products by a firm which maximizes the discounted profit stream of it's own in a duopoly. The problem is constructed as differential games and dynamic optimization theory. Cost is assumed to decline as time goes on. A modified customer's choice model is formulated as a diffusion model and we solve a dynamic optimization problem by adopting the diffusion model. Since this paper focus on deriving real prices not showing a time trend, we formulate recursive form equations of costate variables(shadow price) and a simultaneous equation of price. Hence we derive a dynamic optimal pricing model for using in real market. In particular, we construct a dynamic optimal pricing model in the case that there are benefits from not only new subscribers but also previous subscribers. We analyze instant camera market in U.S.A(1976-1985) by utilizing the above model.

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DECIDING ON HOW TO DECIDE BEST

  • Cho, Keun Tae;Kwon, Cheol Shin
    • Management Science and Financial Engineering
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    • v.7 no.2
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    • pp.31-57
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    • 2001
  • Regarding all methods of decision making as parts of the same subject, one is astounded to find that the field speaks to the practitioners about multicriteria decision making with a multi-forked tongue, different methods give different and conflicting outcomes even for very simple decisions. In this paper, five well-known decision theories are described and used to work out a simple decision to choose the best of three cars. The outcomes turn out not to be the same for all the methods, which is troubling because one would expect unique answers in decision making. Several "meta" criteria that are essential for making a decision theory to make a choice as to which decision approach is best.h is best.

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Reputation Effects in Professors' Research Performances (교수의 연구 성과에 있어서 평판효과)

  • Lee, Daechang;Jeon, Seonghoon
    • Journal of Labour Economics
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    • v.32 no.1
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    • pp.1-29
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    • 2009
  • This paper exploited the data reported in BK21 program of professors' research performances and analyzed the effects of reputational concerns on professors' research performances. According to the established theory of reputation effects in incentive provision, a professor's research incentive gets stronger if one's ability is less known, and one's colleagues' abilities are better known. We confirmed this theoretical hypothesis of reputation effects. Moreover, we found that a professor's research incentive was larger under inter-generational grouping in terms of age distribution and homogeneous grouping in terms of ability uncertainty.

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Improved HPC method for nonlinear wave tank

  • Zhu, Wenbo;Greco, Marilena;Shao, Yanlin
    • International Journal of Naval Architecture and Ocean Engineering
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    • v.9 no.6
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    • pp.598-612
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    • 2017
  • The recently developed Harmonic Polynomial Cell (HPC) method has been proved to be a promising choice for solving potential-flow Boundary Value Problem (BVP). In this paper, a flux method is proposed to consistently deal with the Neumann boundary condition of the original HPC method and enhance the accuracy. Moreover, fixed mesh algorithm with free surface immersed is developed to improve the computational efficiency. Finally, a two dimensional (2D) multi-block strategy coupling boundary-fitted mesh and fixed mesh is proposed. It limits the computational costs and preserves the accuracy. A fully nonlinear 2D numerical wave tank is developed using the improved HPC method as a verification.

Global Chaos Synchronization of WINDMI and Coullet Chaotic Systems using Adaptive Backstepping Control Design

  • Rasappan, Suresh;Vaidyanathan, Sundarapandian
    • Kyungpook Mathematical Journal
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    • v.54 no.2
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    • pp.293-320
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    • 2014
  • In this paper, global chaos synchronization is investigated for WINDMI (J. C. Sprott, 2003) and Coullet (P. Coullet et al, 1979) chaotic systems using adaptive backstepping control design based on recursive feedback control. Our theorems on synchronization for WINDMI and Coullet chaotic systems are established using Lyapunov stability theory. The adaptive backstepping control links the choice of Lyapunov function with the design of a controller and guarantees global stability performance of strict-feedback chaotic systems. The adaptive backstepping control maintains the parameter vector at a predetermined desired value. The adaptive backstepping control method is effective and convenient to synchronize and estimate the parameters of the chaotic systems. Mainly, this technique gives the flexibility to construct a control law and estimate the parameter values. Numerical simulations are also given to illustrate and validate the synchronization results derived in this paper.