• Journal of the Korea Academia-Industrial cooperation Society
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• v.15 no.11
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• pp.6652-6658
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• 2014

This study evaluated the economic value of the development of an environment-friendly controlling method of mushroom using IRR and NPV. The environment-friendly controlling method of mushrooms was developed by the national institute of horticultural and herbal science in Korea rural development administration. This technology can be used to improve the efficiency and practicality of cultivation of mushroom. The research results show that the technological value of the development of an environment-friendly controlling method of mushroom was evaluated at 135.4 billion won (average), 182.6 billion won (maximum), and 88.1 billion won (minimum) based on the discount rate of 7.3%. The IRR was 1,958.5% - 4,054.4%, which was greater than the discount rate (6%~10%). The NPV was evaluated at 134.8 billion won (average), 218.1 billion won (maximum) and 87.5 billion won (minimum) based on the discount rate of 7.3%. Therefore, the economic validity of the development of an environment-friendly controlling method of mushrooms was identified by the results of a technology evaluation.

• Journal of Forest and Environmental Science
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• v.31 no.3
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• pp.207-213
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• 2015

It is estimated that there is a total of approximately 100,000 species in Korea. However, the number is currently about 30,000 and only 16,027 species are listed in the 'Species Korea' (as of December, 2014). Of the listed species, 51 species are designated as the Endangered Species Class I while 195 species are in the Class II, totaling 246 endangered species including 20 mammals. Under the circumstances that development (e.g., roads) is increasingly threatening the persistence of endangered mammals, it is significant to identify and preserve suitable habitats for them. In this context, evaluating the values of the suitable habitat environment would serve as essential information for development decision making. This study estimated the values of endangered mammals' forest habitats through spatialization of habitat services. In doing so, a species distribution model, Maximum Entropy Model (MaxEnt) was utilized for a group of endangered mammals including, mountain goat, wildcat, marten cat, and flying squirrel. To calculate the values per unit area, a benefit transfer method was used based on the point-estimate technique with the best available values estimated previously. The range of discount rate of 3.0 to 5.5 percent was applied taking the notion of social discount rate into account. As a result, the province with the highest values for endangered mammal habitats appeared to be Gangwon, followed by Gyeongbuk and Gyeongnam. The monetary values of the endangered mammal habitats were estimated to be 330 billion to 421 billion won per year.

• The Journal of Korea Institute of Information, Electronics, and Communication Technology
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• v.11 no.2
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• pp.195-203
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• 2018

With the explosion of SNS(social network services) users, the social commerce market has emerged as a new consumer market, and will continue to grow in recent years. Despite the market environment, however, studies are lacking as to the causes of frustration that are hurting social commerce activation. This study is based on the 'Hezbollah' 2 Factor Theory and is a study of social commerce users' satisfaction and frustration factors. For this purpose, social commerce site characteristics and user characteristics were first derived from interviews and literature reviews to confirm their relationship to satisfaction and dissatisfied products. The results showed that the price discount rate, diversity, regional infrastructure, and e-commerce familiarity resulted in the impact on the definition of satisfaction, while the price discount rate, interoperability and innovation resulted in the definition of unsatisfactory goods. It also showed that satisfaction affects the definition of intended use. In particular, the price discount rate was found to be the only factor affecting the definition of unsatisfactory as well as affecting the definition of satisfaction.

• Cross-Cultural Studies
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• v.26
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• pp.273-296
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• 2012

The purpose of this paper is to examine the characteristics of American film (genre drama) through the analysis of , which merits our attention because the proportion of domestic gross earnings to foreign gross earnings is four to one. It means that the cultural discount rate of this film is relatively higher than the films which belong to the other genres, for example adventure, action, fantasy, SF etc. And it would be correct to say that this film is typically american. What is the reason of this difference of cultural discount rate? And what allows this film to be defined as a typical American film. The analysis of shows that the difference doesn't result from the actant structure. In fact the narrative structure of this film is similar to the other films of drama genre like or : the common structure of drama genre is characterized by an encounter of sujet and adjuvant and the progress of their relationship. But the drama is a genre in which the reflection of the actualities is important as compared with other genres. In that sense the story of is based upon the American cultural characteristics. Because the process that realize the progress of relationship between two protagonists is typically American such as race problem, adoption system, concept of family, system of education and going to college etc. As a result it is possible that move less the worldwide spectators than the American spectators.

• Journal of Korean Society of Forest Science
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• v.88 no.1
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• pp.117-123
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• 1999

Consumer surplus is to be a value concerning a time horizon. Especially it is very important how long time horizon would be chosen in contingent market. This study aimed to provide causes of difference recreation benefits through discount rate in many aspects. The data were collected by personal interviews with visitors in Songnisan National Park. The respondents answered yes or no, dichotomous choice, on recreation benefits according to a chosen time horizon, one year or five years. The probit model was used in the analysis. In order to avoid the truncation bias of upper bound, the median was chosen as the recreation benefits of visitor. As the result, the value was evaluated to be 16,569 Won for one year and 27,111 Won for five years. The discount rate is estimated 153% annually to coincide different recreation benefits. The reasons of the high discount rate were to be interpreted as following five types : (1)uncertainty of future consumption (2)increasing of probability of the substitution owing to increasing of time horizon (3)recognization of different time horizons (4) effect by the price ratio of goods and utility function (5) overestimation of the recreation benefits owing to a basic premium of payment vehicle.

• Proceedings of the Korean Statistical Society Conference
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• 2005.05a
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• pp.179-184
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• 2005

Empirical findings on interet rate dynamics imply that short rates show some long memories and non-Markovin. It is well-known that fractional Brownian motion(fBm) is a proper candidate for modelling this empirical phenomena. fBm, however, is not a semimartingale process. For this reason, it is very hard to apply such processes for asset price modelling. With some modifications, this paper investigate the fBm interest rate theory, and obtain a pure discount bond price and Greeks.

• KDI Journal of Economic Policy
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• v.44 no.1
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• pp.49-75
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• 2022

This paper analyzes how franchise contract conditions are influenced by business structures as well as how contract conditions affect producer surplus by utilizing Korean franchise Information Disclosure Documents for the years 2014-2016. We find that franchise fees tend to increase in line with increases in the numbers of direct stores or the business period. Accordingly, it would be reasonable to check whether the franchise fee is excessive compared to the amount of reputation capital rather than to criticize the absolute level of the franchise fee. Regarding royalty contracts, the larger the discount in the raw materials purchase is, the higher the initial royalty is. Although this appears to be a royalty discount, it can be a means of inducing a raw materials purchase contract by initially setting a high royalty rate and then lowering it after the purchase contract is signed. Concerning the effect on producer surplus, the results show that an increase in franchise fees and royalties negatively affects the franchisee's operating profits but positively affects those of the franchisor's, leading to conflicts over the distribution of economic value added. Based on the findings here, we propose various policy recommendations, specifically reinforcing the contents in the Information Disclosure Document, further activating fixed-rate royalties, and strengthening the qualifications of franchisors when recruiting franchisees.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.12 no.5
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• pp.2194-2210
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• 2018

In the era of big data, consumers capture more and more economic surplus yet the seed of distrust also grows with the fast-spreading of social commerce, this paper began with the idea that product types may determine the degree of consumers' distrust even when identical discounts are offered for those products on Chinese social commerce websites. We also attempted to determine if distrust negatively affected consumers' purchase attitudes. 20 representative products that are commonly sold on social commerce websites in China were chosen to examine the relationships among product types, discount rates, distrust levels, and purchase attitudes. Inductive interview was used to collect the data as well as consumers' perceptions of the relationships. Data analysis results suggested that consumers like deep discounts, but their distrust levels increase along with the discount rates, however, the levels of increasing distrust vary according to product types. High, medium, and low discount rate categorizations were made and three propositions were suggested. This paper will contribute to the body of knowledge on online social commerce market and provide valuable implications for e-retailers and general consumers in online social commerce websites in China.

• Proceedings of the KSR Conference
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• 2003.05a
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• pp.216-221
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• 2003

This study is to investigate what are major determinants to decide the level of HSR(High-Speed Railroad)'s fare rate in Korea. The study suggests that for the independent operation of the HSR, the fare rate be charged based on the profitability and for the increase in the demand, various discount programs be needed. In addition, in order to operate HSR independently, the HSR fare rate must be charged in the deregulation of the government.

• Journal of Korean Society of Transportation
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• v.28 no.2
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• pp.65-75
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• 2010

When the cost-benefit analysis is applied for social discount rate(SDR), the choice of SDR to be used in analysis is critical. One of the important issues when public investment project evaluate what is the SDR theory, so there have studied about SDR and no exact answer it so far. In this study, there are three of SDR theories that be estimated social time preference rate, social investment returns and the weighted average method from 1990s, 2000 to 2003 and 2004 to 2008.. First, social time preference method computes consumer's interest rate and the model of Pearce and Ulph(1999). Second, social investment returns method computes private returns of capital. Third, the weighted average method computes the model of Squire, L., Herman G. van der Tak(1975) and private consumption expense and the private investment expense. SDR is estimated in the rage between 2.4% and 3.9% from 2004 to 2008. It is not appropriate that the interest rate was unstable. But it is consider for social equity from present to future generations. Considering this things, downward need to the value of current SDR 5.5%.