• The Journal of Asian Finance, Economics and Business
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• v.6 no.4
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• pp.179-187
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• 2019

This study aims to investigate the effects of market commonality and resource similarity on price competition and the recursive consequences in the Korean lodging market. Price comparison among hotels in the same geographic market has been facilitated through the development of information technology, rendering little search cost of consumers. While the literature implies the heterogeneous price attack and response among hotels, a limited number of empirical researches focus on the asymmetric and recursive pattern in the competitive dynamics. This study empirically examines the price interactions in the Korean lodging market based on the theoretical framework of competitive price interactions and countervailing power. Demonstrating superiority to the spatial lag model and the ordinary least squares in the estimation, the results from spatial error model suggest that the hotels with longer operational history pose an asymmetric impact on the price of the newer hotels. The asymmetry is also found in chain hotels over the independent, further implying the possibility of predatory pricing. The findings of this study provide the evidence of a hierarchical structure in the price competition, with different countervailing power by the resources of the hotels. Theoretical and managerial implications are discussed, with suggestions for future study.

• International Commerce and Information Review
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• v.10 no.2
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• pp.391-410
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• 2008

Emphasis on relationship management might be found out from Williamson (1975), who tried to elucidate why an organization exists. According to his transaction cost theory, an organization is established to evade opportunistic actions of the market and build up a hierarchy of value chain. However, judged from the perspective of exchange relationship in a trade, the transaction cost theory was likely to approach to buyer-seller relationship by the mechanism of competition. Therefore, an organization exists to control the competition of the market. Relationship management suggested by relationship marketing focuses on cooperation between buyers and sellers, rather than competition against each other. Relationship management aims to provide a framework for making a market relationship that might become an asset or a resource of the firm. In the process of maintaining and strengthening long-term and cooperative relationship with all stakeholders included customers, suppliers and staff, they continue to create new values. The purpose of this empirical research, by investigating how relationship management of multinational enterprises influences on their competitive advantages and performances, is to suggest that a cooperative relationship established for a long time in the market, so-called quasi-market relationship, substitutes for an organization.

• Industrial Engineering and Management Systems
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• v.13 no.3
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• pp.258-266
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• 2014

This paper proposes a management system for the educational program of production managers on the basis of value co-creation by the learner and the instructor. The program combines an intelligent knowledge-based approach with the kaizen activity program. The program helps individuals acquire knowledge and skills to ensure the total rather than the partial optimization of processes and operations facilitating continuous improvement in the workplace. To achieve these goals, the program uses models of a learning process and a swing of enlightenment. In addition, the program is supported by a framework of academic, business people, consultants, and government officers. The program was developed using an instructional design approach. This paper discusses the process of developing and managing the educational program between 2006 and 2012 as well as the results obtained.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.53 no.6
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• pp.350-357
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• 2004

In a deregulated electricity generation market, the sufficient capacity of transmission lines will promote the competition among generation companies (Gencos). In this paper, we show that Gencos' possession of rights to collect congestion rents may increase the competition effects of the transmission lines. In order for concrete analysis on this effect, a simple symmetric market model is introduced. In this framework, introducing the transmission right to the Gencos has the same strategic effects as increasing the line capacity of the transmission line. Moreover, the amount of effectively increased line capacity is equal to the amount of the line rights. We also show that the asymmetric share of the financial transmission rights may result in an asymmetric equilibrium even for symmetric firms and markets. We also demonstrate these aspects in equal line rights model and single firm line rights model. Finally, a numerical example is provided to show the basic idea of the proposed paper.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2003.11a
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• pp.7-10
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• 2003

After the launch of PCS in 1997, price competition between five mobile carriers was so severe that the Korean mobile telephony market achieved a remarkable subscriber base growth. But in that optimal pricing behavior depends on how each fm is likely to react to other frims'choice of price, it is very interesting to analyze competitive pricing behavior and understand market structure in terms of pricing competitiveness in the Korean mobile telecommunications market. In this paper, we use structural econometric models in New Empirical Industrial Organization (NEIO) framework. But previously used models in this framework generally assume that market size is fixed and that all firms maximize their profits. To fit in with the Korean mobile telephony market, we derive various models in using NML market share model under the assumptions that market size varies with industry's total attractions and that firms maximize their market share. In this paper, we find that the model under market share maximization with the assumption that market size varies with total attraction shows the best fitting results.

• Journal of Information Technology Applications and Management
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• v.24 no.3
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• pp.107-123
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• 2017

This study uses the concept of dominant design to identify the determinants for the emergence of a next-generation dominant electronic display. It employs multiple research methods with the participation of display experts, which combine case studies, an unstructured interview, and the Delphi method. The results show that based on technological innovation and market dominance, a next-generation dominant display is more likely to emerge as a result of technological competition between liquid crystal displays (LCDs) and organic light-emitting diodes (OLEDs). The findings emphasize that the importance of rapid technological innovation, including component and process innovations, and a competitive edge in manufacturing costs are important. The study sheds light on our understanding of dominance in an industry and market, and also provides strategic guidance for practitioners to establish a competitive strategy.

• International conference on construction engineering and project management
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• 2022.06a
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• pp.11-17
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• 2022

Design-bid-build (DBB) is the most common project delivery method among highway projects. State Highway Agencies (SHAs) usually apply a low-bid approach to select contractors for their DBB projects. In this approach, the Federal Highway Agency suggests SHAs heighten contractors' competition to lower bid prices. However, these attempts may become ineffective due to collusive bidding arrangements among certain contractors. One common strategy is the rotation of winning bidders of a group of contractors who bid on many of the same projects. These arrangements may also be specific to a particular region or vary in time. Despite the practices' adverse effects on bidding outcomes, an effective model to detect red-flag bidding patterns is lacking. This study fills the gap by proposing a novel framework that utilizes pattern mining techniques and statistical tests for unusual pattern detection. A case study with historical data from an SHA is conducted to illustrate the proposed framework.

• IE interfaces
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• v.9 no.3
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• pp.1-9
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• 1996

Competition in telecommunications field brings about change in attitudes toward technology development. It is no longer the case that technology development itself has merits but that technology development should be considered in terms of its economic concepts such as the cost-effectiveness concept. Techno-Economic study intend to incorporate the idea of economic efficiency into technology development and management so that economic potential of technologies is maximized. This paper categorizes the contents of techno-economic study in telecommunications and information technologies and suggests a framework of techno-economic study based on technology lifecycle and decision makers.

• Journal of the Korean Institute of Landscape Architecture
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• v.36 no.5
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• pp.13-25
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• 2008

Although competitions for large parks are increasing rapidly across the world, theoretical research and critiques of these competitions are as yet insufficient. The 'International Design Competition for Central Open Space in Multi-functional Administrative City, Korea', a representative competition for large park design, can be a significant resource for examining the contemporary design strategies that go into the design of a large park. In this study, the authors make a framework for analysis by looking at the competition's design guidelines and literatures on 'large parks', and by then analyzing the ten finalists. Four questions that were derived from the framework were: 'what are the approaches to large parks?', 'what is the process of design?', 'what is the sustainability of the park?', and 'what are the relations between city and park?' The results of the study are as follows. First, the design concepts for large parks are primarily site-specific. It is particularly important in ensuring the identity of the large park. Second, it is difficult to find design proposals which satisfy the four main questions sufficiently, and works submitted tend to be visual-oriented, form-oriented, and results-centered. Third, the notion of 'sustainability' in large parks is a comprehensive one which includes various aspects such as ecology, finance, programming, and community. However, the notion remains ambiguous, and plans for operation and management are not concretely proposed. Finally, design proposals for large parks accompany positive relations with the city. Especially, 'productive parks' and 'city self-sufficiency' are very important demands in regards to large parks.

• International Commerce and Information Review
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• v.9 no.1
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• pp.355-379
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• 2007

With the effectuation of United Nations Framework Convention on Climate Change(UNFCCC) and Kyoto Protocol in 2005, ever growing concern on the importance of overseas forestation is diffusing worldwide. However, fierce international competition to secure overseas forestation sites, inherent uncertainty in UNFCCC or overseas forestation projects, and imbalances among policies on overseas natural resources development make it difficult to realize Korean long-term overseas forestation objective to secure 1 million ha by 2050. In view of necessity of overseas forestation projects for sustainable forest management and securing sinks of carbon to mitigate climate change, various efforts to reform current Korean overseas forestation systems are required. This study suggests several alternatives to improve current Korean overseas forestation systems including expanding financial support for overseas forestation projects, cultivating overseas forestation experts, establishing official organization for overseas forestation, constructing effective support system for overseas forestation projects, fostering international cooperation in the field of forest resources, and so on. Many theoretical, empirical or policy-oriented studies on the influences of UNFCCC and countermeasures on it in various Korean industries should follow this study.