• Title/Summary/Keyword: Conditional Value

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An Analysis of the Value of New Product Multi Cream Using Choice Experiment (선택형 실험을 이용한 신제품 멀티크림의 가치 분석)

  • Lee, Sang-Hak;Choi, Se-Hyun;Ha, Hyun-Jung
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.15 no.3
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    • pp.1390-1395
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    • 2014
  • The objective of this study is to offer a basic data for the establishment of marketing strategies such as fixing price of a new product and creation of the development direction of the product through estimating consumers value by attributes of the newly developed university made multi cream. The Choice Experiment was used for analysis, and conditional logit model was estimated to derive the marginal willingness to pay(MWTP) of each attributes of the multi cream. Brand, container type, functionality, price were included as the attributes. As a result, MWTP were estimated at 21,754 Won/unit for large company product, 11,033 Won/unit for small company product and 16,178 Won/unit for university product, 7,476 Won/unit for enriched moisturizing, 12,107 Won/unit for enriched improvements in wrinkles. Consumers have a preference for university brand over small company brand, therefore, if university and small company cooperate and proceed a joint-venture, it will strengthen the competitive power in the low price brand market. Also, it is essential to develop products with enriched functionalities such as moisturizing and improvements in wrinkles.

Estimation of Consumer Value on Import Management of Seafood Obtained from IUU Fishing: Using Choice Experiment Method

  • Ji-Eun An;Se-Hyun Park;Heon-Dong Lee
    • Journal of Korea Trade
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    • v.27 no.2
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    • pp.115-129
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    • 2023
  • Purpose - This study empirically analyzes the consumer value of risk management associated with illegal, unreported, and unregulated (IUU) fishing of fishery products imported to Korea. The global regulatory paradigm for IUU fishing has shifted from production-centered to market-centered. As a result, changes in the international fisheries trade environment emphasizing "transparency" and "legality" of the production process are accelerating. Therefore, changes in the management systems of fishery products entering the country are also needed. Accordingly, this study estimated the consumer value for risk management of IUU fishing, targeting major fish species imported to Korea, and derived the feasibility of introducing related policies. Design/methodology - This study used the choice experiment as an analysis model to estimate consumers' willingness to pay for the "possibility to check for IUU fishing." The choice experiment assumes that the value of a good or service is composed of separable attributes and that the sum of the part-worth of these individual attributes becomes the total value. In this study, respondents were presented with profiles comprising three attributes (country of origin, price, and possibility of checking IUU fishing) and the levels of frozen poulp squid, the subject of the analysis. The participants were asked to select their preferred profile. The marginal willingness to pay for each attribute was derived from the results of the respondents' choices using conditional logit model estimates. Findings - There is a marked difference in utility based on the preference of the country of origin of fishery products among consumers. In addition, the utility of fishery products that have undergone IUU fishing verification was observed to be higher, with the utility marked to be higher for lower prices. Originality/value - Estimating the policy value of the risk management in IUU fishing of imported fisheries products in this study is a novel attempt that has never been conducted before. Several studies have been conducted to assess the risk of IUU fishing associated with the import of fishery products internationally. However, such studies are yet to be conducted in Korea. Instead, policies and studies have focused on issues related to complying with trading partners' legal and transparent standards for exporting fishery products. This study should be the beginning of more in-depth empirical and theoretical explorations to establish order in the domestic seafood market and respond to changes in international regulations on IUU fishing.

Estimating the Consumer's Value of Creating Shared Value Strategy of Company Considering Biodiversity (생물다양성을 고려한 기업 공유가치창출전략의 소비자가치 측정)

  • Park, Sujeong;Min, Sun Hyung;Im, Jeongbin;Kim, Hong Sok
    • Environmental and Resource Economics Review
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    • v.24 no.2
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    • pp.283-309
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    • 2015
  • Nagoya Protocol came into effect October of 2014. For Korean companies to follow Nagoya Protocol with ease, this research conducts the survey to figure out consumers' additional willingness to pay for bio-diversity. The hypothesis that the bio-diversity label will make an impact on willingness to pay through emotional value, conditional value, and epistemic value is based on consumption value theory. The survey is conducted for two product categories; first one is utilitarian product (milk) and the other one is hedonic product (cosmetics). The analysis result shows the bio-diversity label on both product categories incur additional willingness to pay. Especially, expectation on effectiveness of bio-diversity label increases the additional willingness to pay on biodiversity label. This implies for easy following on Nagoya Protocol, the education and promotion of bio-diversity is need to increase consumers' additional willingness to pay, which can be the attraction for companies to obey the Nagoya Protocol.

Conditional Generative Adversarial Network based Collaborative Filtering Recommendation System (Conditional Generative Adversarial Network(CGAN) 기반 협업 필터링 추천 시스템)

  • Kang, Soyi;Shin, Kyung-shik
    • Journal of Intelligence and Information Systems
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    • v.27 no.3
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    • pp.157-173
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    • 2021
  • With the development of information technology, the amount of available information increases daily. However, having access to so much information makes it difficult for users to easily find the information they seek. Users want a visualized system that reduces information retrieval and learning time, saving them from personally reading and judging all available information. As a result, recommendation systems are an increasingly important technologies that are essential to the business. Collaborative filtering is used in various fields with excellent performance because recommendations are made based on similar user interests and preferences. However, limitations do exist. Sparsity occurs when user-item preference information is insufficient, and is the main limitation of collaborative filtering. The evaluation value of the user item matrix may be distorted by the data depending on the popularity of the product, or there may be new users who have not yet evaluated the value. The lack of historical data to identify consumer preferences is referred to as data sparsity, and various methods have been studied to address these problems. However, most attempts to solve the sparsity problem are not optimal because they can only be applied when additional data such as users' personal information, social networks, or characteristics of items are included. Another problem is that real-world score data are mostly biased to high scores, resulting in severe imbalances. One cause of this imbalance distribution is the purchasing bias, in which only users with high product ratings purchase products, so those with low ratings are less likely to purchase products and thus do not leave negative product reviews. Due to these characteristics, unlike most users' actual preferences, reviews by users who purchase products are more likely to be positive. Therefore, the actual rating data is over-learned in many classes with high incidence due to its biased characteristics, distorting the market. Applying collaborative filtering to these imbalanced data leads to poor recommendation performance due to excessive learning of biased classes. Traditional oversampling techniques to address this problem are likely to cause overfitting because they repeat the same data, which acts as noise in learning, reducing recommendation performance. In addition, pre-processing methods for most existing data imbalance problems are designed and used for binary classes. Binary class imbalance techniques are difficult to apply to multi-class problems because they cannot model multi-class problems, such as objects at cross-class boundaries or objects overlapping multiple classes. To solve this problem, research has been conducted to convert and apply multi-class problems to binary class problems. However, simplification of multi-class problems can cause potential classification errors when combined with the results of classifiers learned from other sub-problems, resulting in loss of important information about relationships beyond the selected items. Therefore, it is necessary to develop more effective methods to address multi-class imbalance problems. We propose a collaborative filtering model using CGAN to generate realistic virtual data to populate the empty user-item matrix. Conditional vector y identify distributions for minority classes and generate data reflecting their characteristics. Collaborative filtering then maximizes the performance of the recommendation system via hyperparameter tuning. This process should improve the accuracy of the model by addressing the sparsity problem of collaborative filtering implementations while mitigating data imbalances arising from real data. Our model has superior recommendation performance over existing oversampling techniques and existing real-world data with data sparsity. SMOTE, Borderline SMOTE, SVM-SMOTE, ADASYN, and GAN were used as comparative models and we demonstrate the highest prediction accuracy on the RMSE and MAE evaluation scales. Through this study, oversampling based on deep learning will be able to further refine the performance of recommendation systems using actual data and be used to build business recommendation systems.

Valuing Reduction of Mortality and Cancer Risks from a Contingent Valuation (사망위험감소 및 암 발생확률감소가치의 추정)

  • Hocheol Jeon
    • Environmental and Resource Economics Review
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    • v.32 no.1
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    • pp.1-26
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    • 2023
  • This study employs the dichotomous choice contingent valuation method to estimate the Value of a Statistical Life (VSL) and the Value per Statistical Case (VSCC) of cancer risk. In contrast to the previous studies, which presented the mortality risk probability directly, the study uses conditional probability, which combines the chance of getting cancer and dying from it. In addition, the study examines the impact of variables that may affect willingness to pay for reducing the risk of death from cancer and getting cancer, such as the impact on daily life and pain levels associated with cancer. The results indicate that the estimated cancer VSL ranges from approximately 952 million won to 3.359 billion won, while the VSCC is estimated to be between about 0.42 billion won and 2.72 billion won. The study finds a significant difference in the VSL depending on whether the reduction in mortality risk is from a decrease in the chance of getting cancer or a decrease in the chance of dying from cancer. However, the effect of impacts on daily activities and pain on willingness to pay is inconclusive.

Attitudes of Pregnant women s husbands to Breast Feeding (임부 남편의 모유수유에 대한 태도 유형 분석)

  • 정혜경;김경희
    • Journal of Korean Academy of Nursing
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    • v.28 no.2
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    • pp.392-402
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    • 1998
  • By using Q-methodology, this study examines the attitudes of pregnant womens' husbands toward breastfeeding. Also, the research provides basic data necessary to develop a strategy for recommending breastfeeding. A total of 112 items for the Q-population were collected from related literature and interviews with the general public, specialists, pregnant women and their husbands. Finally, 38 statements were selected. Twenty one husbands of pregnant women classified these statements on each card on a 1 to 9 point scale(forced normal distribution) and wrote the reasons for both the most supported and the most resisted statements. The materials collected were analyzed by using pc QUANL program. The analysis drew down following fact that even though the attitudes of the husbands of pregnant were very similar, they could be classified to three types according to the motivation and recognition the degree of choosing breastfeeding. Type 1 is the mother's duty supporter, who insists that breastfeeding is completely natural and the proper duty of the mother. Type 2 is the emotional value supporter, who thinks that breastfeeding emotionally affects both the baby and the mother in a positive way. Type 3 is the conditional choice supporter, who chooses the most proper suckling way of feeding according to given conditions.

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Comparison of Estimation Methods in NONMEM 7.2: Application to a Real Clinical Trial Dataset (실제 임상 데이터를 이용한 NONMEM 7.2에 도입된 추정법 비교 연구)

  • Yun, Hwi-Yeol;Chae, Jung-Woo;Kwon, Kwang-Il
    • Korean Journal of Clinical Pharmacy
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    • v.23 no.2
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    • pp.137-141
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    • 2013
  • Purpose: This study compared the performance of new NONMEM estimation methods using a population analysis dataset collected from a clinical study that consisted of 40 individuals and 567 observations after a single oral dose of glimepiride. Method: The NONMEM 7.2 estimation methods tested were first-order conditional estimation with interaction (FOCEI), importance sampling (IMP), importance sampling assisted by mode a posteriori (IMPMAP), iterative two stage (ITS), stochastic approximation expectation-maximization (SAEM), and Markov chain Monte Carlo Bayesian (BAYES) using a two-compartment open model. Results: The parameters estimated by IMP, IMPMAP, ITS, SAEM, and BAYES were similar to those estimated using FOCEI, and the objective function value (OFV) for diagnosing the model criteria was significantly decreased in FOCEI, IMPMAP, SAEM, and BAYES in comparison with IMP. Parameter precision in terms of the estimated standard error was estimated precisely with FOCEI, IMP, IMPMAP, and BAYES. The run time for the model analysis was shortest with BAYES. Conclusion: In conclusion, the new estimation methods in NONMEM 7.2 performed similarly in terms of parameter estimation, but the results in terms of parameter precision and model run times using BAYES were most suitable for analyzing this dataset.

The Effect of Authentic Leadership and Psychological Contract Breach on Organizational Cynicism: Focusing on the Moderated Mediation of Followers' Identification with the Leader

  • Kim, Yesung;Shin, Je-Goo
    • Knowledge Management Research
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    • v.18 no.4
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    • pp.1-29
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    • 2017
  • This study sets out to verify the moderated mediation of followers' identification with the leader on the indirect effect of authentic leadership on organizational cynicism via psychological contract breach. A total of 279 responses from employees at companies with more than 500 employees and of diverse industries were used for analysis. Our findings showed that authentic leadership (X) had a negative indirect effect on organizational cynicism (Y) via psychological contract breach (M), and that this indirect effect was negatively moderated by identification with the leader, thereby identifying its role as a moderating mediator. Further verification revealed that the indirect effect ($X{\rightarrow}M{\rightarrow}Y$) was conditional upon the value of the moderating variable, where identification with the leader had a significant effect in the 25%, 50%, 75%, 90% levels, but not in the 10% level. The findings of this research empirically verified that greater exertion of authentic leadership lowers psychological contract breach among organization members and, consequently, organizational cynicism. In particular, this effect was stronger when the organization member identified him/herself more strongly with the leader. Our findings extend the body of knowledge on the relationship between authentic leadership and organizational cynicism and expands the possibilities for future research.

Application of a weight-of-evidence model to landslide susceptibility analysis Boeun, Korea

  • Moung-Jin, Lee;Yu, Young-Tae
    • Proceedings of the Korean Association of Geographic Inforamtion Studies Conference
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    • 2003.04a
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    • pp.65-70
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    • 2003
  • The weight-of-evidence model one of the Bayesian probability model was applied to the task of evaluating landslide susceptibility using GIS. Using the location of the landslides and spatial database such as topography, soil, forest, geology, land use and lineament, the weight-of-evidence model was applied to calculate each factor's rating at Boun area in Korea where suffered substantial landslide damage fellowing heavy rain in 1998, The factors are slope, aspect and curvature from the topographic database, soil texture, soil material, soil drainage, soil effective thickness, and topographic type from the soil database, forest type, timber diameter, timber age and forest density from the forest map, lithology from the geological database, land use from Landsat TM satellite image and lineament from IRS satellite image. Tests of conditional independence were performed for the selection of the factors, allowing the 43 combinations of factors to be analyzed. For the analysis, the contrast value, W$\^$+/and W$\^$-/, as each factor's rating, were overlaid to map laudslide susceptibility. The results of the analysis were validated using the observed landslide locations, and among the combinations, the combination of slope, curvature, topographic, timber diameter, geology and lineament show the best results. The results can be used for hazard prevention and planning land use and construction

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Condition Parameter-based On-line Performance Reliability (상태 파라메터 기반의 온라인 성능 신뢰도)

  • Kim, Yon-Soo;Chung, Young-Bae
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.30 no.3
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    • pp.103-108
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    • 2007
  • This paper presents the conceptual framework for estimating and predicting system's susceptibility to failure as function of condition parameter value which is representing the current status of performance measure using on-line performance reliability. The performance of such system depends on one parameter with a probability distribution that degrades with time gracefully. Performance reliability represents the probability that physical performance will remain satisfactory over a finite period of time or usage cycles in the future. An empirical physical performance function is constructed to incorporate explanatory variables (operating and environmental conditions) over a time or usage dimension. This function enables one to model device performance and the associated classical reliability measures simultaneously, in the performance domain and time domain. The conditional performance reliability structure developed represents a tool to predict system performance over time or usage for next usage period. By enabling such a framework, it can bring us more efficient planning and execution in system's operation control as well as maintenance to reduce costs and/or increase profits.