• The Korean Journal of Applied Statistics
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• v.22 no.5
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• pp.1019-1032
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• 2009

The city gas demand data has strong seasonality. Thus, the seasonality factor is the majority for the development of forecasting model for city gas supply amounts. Also, real city gas demand amounts can be affected by other factors; weekday effect, holiday effect, the number of validity day, and the number of consumptions. We examined the degree of effective power of these factors for the city gas demand and proposed a time-series model for efficient forecasting of city gas supply. We utilize the liner regression model with autoregressive regression errors and we have excellent forecasting results using real data.

• The Journal of the Convergence on Culture Technology
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• v.9 no.5
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• pp.493-499
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• 2023

Trade credit refers to a transaction where a product supplier allows an distributor to defer payment for a certain period of time for the purchase cost of the products. This practice is generally permitted as a means of differentiation between competing companies. Such trade credit is commonly granted based on the volume of transactions, aiming to increase customer orders. From the perspective of the distributor, trade credit allows for a deferred payment period for the purchase cost, leading to cost savings in inventory investment. These cost savings in inventory investment can be a factor in reducing selling prices with the aim of increasing customer demand. In this study, we analyze a model that determines the optimal selling price and order quantity from the perspective of the distributor, assuming that the supplier allows a deferred payment period dependent on the transaction volume. We assume that the final customer's annual demand exhibits an exponential decrease with respect to the distributor's selling price, using a constant price elasticity function. To analyze the problem, we assume that the product deteriorates at a constant rate over time and aim to establish an inventory model for the intermediate distributor. We also want to analyze the impact of deterioration on the inventory policies of the intermediate distributor.

• Environmental and Resource Economics Review
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• v.23 no.1
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• pp.43-65
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• 2014

In this paper, we test for allocative efficiency of productive inputs including electricity and measure the divergence between the actual and optimal level of electricity for the chemical products, which is a relatively highly electricity-intensive sector in Korean manufacturing industries, by estimating a shadow cost function. Supposing cost minimization subject to market prices was achieved, we derive the price elasticities of demand for each input and simulate the impact of a 10% increase in power rate on its demand and supply price by estimating jointly a cost function with an inverse supply relation. The null hypothesis of allocative efficiency of inputs is rejected over the period 1982-2006. On average, electricity is used more than optimal level by 98% per year. The demand for electricity decreases by 11.4%, and supply price, on average, falls by 0.08%, other things being equal.

• Journal of the Korean Society of Food Culture
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• v.14 no.4
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• pp.371-383
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• 1999

This report gave analysis of food demand both in Korea and Japan through introducing the concept of cohort analysis to the conventional demand model. This research was done to clarify the factors which determine food demand of the household. The traits of the new model for demand analysis are to consider and quantify those effects on food demand not only of economic factors such as expenditure and price but also of non-economic factors such as the age and birth cohort of the householder. The results of the analysis can be summarized as follows: 1) The comparison of the item-wise elasticities of food demand demonstrates that the expenditure elasticity is higher in Korea than in Japan and that the expenditure elasticity is -0.1 for cereal and more than 1 for eating-out in both countries. In respect to price elasticity, the absolute values of all the items except alcohol and cooked food are higher in the Korea than in Japan, and especially the price elasticities of beverages, dairy products and fruit are predominantly higher in Japan. In this way, both expenditure and price elasticities of a large number of items are higher in Korea than in Japan, which may be explained from the fact that the level of expenditure is higher in Japan than in Korea. 2) In both of Korea and Japan, as the householder grows older, the expenditure for each item increases and the composition of expenditure changes in such a way that these moves may be regarded as due to the age effect. However, there are both similarities and differences in the details of such moves between Korea and Japan. Those two countries have this trait in common that the young age groups of the householder spend more on dairy products and middle age groups spend more on cake than other age groups. In the Korea, however, there can be seen a certain trend that higher age groups spend more on a large number of items, reflecting the fact that there are more two-generation families in higher age groups. Japan differs from Korea in that expenditure in Japan is diversified, depending upon the age group. For example, in Japan, middle age groups spend more on cake, cereal, high-caloric food like meat and eating-out while older age groups spend more for Japanese-style food like fish/shellfish and vegetable/seaweed, and cooked food. 3) The effect of the birth cohort effect was also demonstrated. The birth cohort effect was introduced under the supposition that the food circumstances under which the householder was born and brought up would determine the current expenditure. Thus, the following was made clear: older generations in both countries placed more emphasis upon stable food in their composition of food consumption; the share of livestock products, oil/fats and externalized food was higher in the food composition of younger generation; differences in food composition among generations were extremely large in Korea while they were relatively small in Japan; and Westernization and externalization of diet made rapid increases simultaneously with generation changes in Korea while they made any gradual increases in Japan during the same time period. 4) The four major factors which impact the long-term change of food demand of the household are expenditure, price, the age of the householder, and the birth cohort of the householder. Investigations were made as to which factor had the largest impact. As a result, it was found that the price effect was the smallest in both countries, and that the relative importance of the factor-by-factor effects differed among the two countries: in Korea the expenditure effect was greater than the effects of age and birth cohort while in Japan the effects of non-economic factors such as the age and birth cohort of householder were greater than those of economic factors such as expenditures.

• East Asian Journal of Business Economics (EAJBE)
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• v.9 no.4
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• pp.93-102
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• 2021

Purpose - Among the various pricing approaches used to set fares for express trains, this study explores a method of utilizing a customer-based pricing approach. The purpose of this study is to figure out how to apply the customer-based pricing approach to fares of new railway services using express trains. Research design, data, and methodology - This study was conducted through a literature review and case studies. In the literature review, we examined three approaches, focusing on the customer-based pricing approach and its application. In the case studies, we show how a customer-based pricing approach can be applied to determining the fares for railway services. Result - Some studies have used a customer-based pricing approach to set railway service rates, adapting the concepts of customer-based pricing such as demand, elasticity, value and willingness to pay. When setting fares of new railway services, it is recommended to use the customer-based approach in conjunction with other pricing approaches. Conclusion - This study demonstrates that a customer-based pricing approach is a promising tool in making decisions on railway fares. By applying a customer-based pricing approach to fares for new railway services using express trains, railway operators can utilize new service rates and increase the profitability of the railway business.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.39 no.6
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• pp.933-943
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• 2019

The purpose of this study is to identify determinants for preferred funeral methods depending on socio-economic characteristics. In South Korea, the Act on Funeral Services, Etc. categorizes funeral methods into burial, inurnment, and natural burial. This study empirically analyzes how and what socio-economic characteristics affect choices among these three categories. Data is collected from Social Survey 2017 and funeral facilities in the country. The data to be analyzed is developed in terms of a hierarchy which puts the burial and cremation methods in an upper class and the inurnment and natural burial methods in a lower class. Based on this data, a nested logit model is employed to conduct empirical analysis. The analysis indicates that those characteristics that have a statistically significant influence on preferred methods include gender, age, householder, marriage, satisfaction with life, class awareness, monthly income, housing type, housing tenure type, and living in city area. Each variable's modulus of calculated direct and cross elasticity need to be used to analyze the outcome of a nested logit model. In this study, the modulus of direct and cross elasticity are determined for the significant variables. The calculated direct elasticity is applied to analyze the likelihood of choosing each funeral method when there are changes in the significant variables. When a particular method has been selected, on the other hand, the cross elasticity is utilized to analyze changes to the likelihood of choosing the other methods. One of the most notable results is related to natural burial. In order to meet the demand for natural burial, it is necessary to provide more burial sites and raise awareness of natural burial. This will facilitate the efficient use of national territorial space.

• Journal of Korean Society of Transportation
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• v.26 no.5
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• pp.101-115
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• 2008

This study reports UTIS(Urban Traffic Information System), which has been generalized in developed countries through brisk research and development and is being promoted for introduction by National Police Agency and Road Traffic Authority to reduce the astronomical amount of social expenses including traffic congestion expenses. Also this study investigates the proper charges for using by the preestimate of demand and contentment according to methods of payment after the service is introduced. The results of this study are as follows. First, demand forecast model is constructed by Binary Logit Model. Second, forecast models of using aspects of UTIS service according to methods of payment are established by Ordered Probit Model. Third, the proper charges for using of UTIS service according to methods of payment are presented to the supplier in the aspects of users. For this, preferences by using aspects and methods of payment are captured. And unit elasticity of coefficient of utilization is understood through responsiveness analysis according to methods of payment.

• Journal of Korean Society of Transportation
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• v.29 no.5
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• pp.43-54
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• 2011

After implementing "Semi-public management system of intra-city bus", the burden of financial aid for unprofitable routes is on the increase in Busan metro city. It becomes a heavy burden on the local finance, which needs to be resolved for improving the intra-bus system. The rainfall is one of the factors influencing the demands for intra-bus in urban transportation. Motivated by this fact, this study investigates the impact of rainfall on the intra-city bus demand. Actual bus users are surveyed on their patterns and recognition of using the bus according to the amount of rainfall. A rainfall forecast model using ordered probit model is presented, and the elasticity of the intra-city bus utilization to the amount of rainfall is also analyzed. The resulting findings could be applied to promote the use of intra-city buses and also be utilized as basic data for other studies to improve the intra-city bus system.

• The Journal of Fisheries Business Administration
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• v.41 no.3
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• pp.59-78
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• 2010

This paper tries to apply the asymmetrical price transmission(APT) behavior observed in the agricultural industry to supply chains of the domestic fishery industry by a statistical manner. The fore mentioned asymmetrical price transmission refers to when price movements in the later stage of the supply chain do not move in a normal or symmetrical manner corresponding to price movements in the earlier stage of the supply chain. Therefore, when the earlier stage price increase and the later stage price increases to a larger degree, it is called positive(+) asymmetry and the opposite behavior is called negative(-) asymmetry. The study examines the data from domestic producers of three fresh fish types, hairtail, mackerel, and cuttlefish, and tries to examine the price asymmetry between the producer or farm, wholesaler, and retail prices via an APT test utilizing unit root, cointegration, and error correction model. The study found, hairtail wholesale and retail pricing bas a negative asymmetric relationship while mackerel has a negative asymmetric pricing relationship at the producer and retail levels of the supply chain. In the case of cuttlefish, all levels of the supply chain showed negative asymmetrical behavior in the supply chain price transmission, meaning the earlier stage price changes are more rapidly and greatly inputted in the later stage of the supply chain pricing. We believe that the reason why the analysis results show negative price asymmetry is due to the uniqueness of fishery products having an important variable such as freshness. If price increases are greater and quicker than price decreases, then consumer demand, which is sensitive to price increases will decrease and subsequently result in the increase of inventory levels, reducing profits for retailers. Also, frozen hairtail, mackerel, and cuttlefish will act as substitute goods to fresh fishery products. Therefore, fresh fishery products have a high demand of price elasticity. When prices increase, demand quickly decreases. Therefore the profit of wholesalers and retailers to decrease, I think this is the main reason of APT in the supply chain of Korea' s fisheries industry.

• KSCE Journal of Civil and Environmental Engineering Research
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• v.38 no.6
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• pp.933-940
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• 2018

The conversion of the internal combustion engine vehicle to the electric vehicle is suggested as a solution to the problem of global climate change and environmental pollution. Accordingly, this study was started to promote the use of electric vehicles. The purpose of this study is to identify the basic background knowledge and current status of electric vehicles in Korea and abroad, and expand from previous understanding on which factors affect ones choice on electric vehicles by considering individual characteristics and context in detail. In the analysis, a set of demand forecasting models were constructed by grouping the respondents based on the household characteristics as well as the vehicle ownership. At the time in need for better understanding of the feasibility of electric vehicles, it is expected that the research can assist the promotion of electric vehicles. In the follow-up study, I would like to continue the research on the activation of electric vehicles.