• 국제학술발표논문집
• /
• The 8th International Conference on Construction Engineering and Project Management
• /
• pp.493-502
• /
• 2020

Traditionally, road projects are initiated based on an assessment of their economic benefit, after which the environmental, social and governance effects are addressed discretely for the project according to a set of predetermined alternatives. Sustainable road infrastructure planning is vital as issues like diminishing access to road construction supplies, water scarcity, Greenhouse Gas emissions, road-related fatalities and congestion pricing etc., have imposed severe economic, social, and environmental damages to the society. In the process of addressing these sustainability factors in the operational phase of the project, the dynamics of these factors are generally ignored. This paper argues that effective delivery of sustainable roads should consider such dynamics and highlights how different aspects of sustainability have the potential to affect project sustainability. The paper initially presents the different sustainability-assessment tools that have been developed to determine the sustainability performance of road projects and discuss the inability of these tools to model the interrelationships among sustainability-related factors. The paper then argues the need for a new assessment framework that facilitates modelling these dynamics at the macro-level (system level) and helping policymakers for sustainable infrastructure planning through evaluating regulatory policies.

• 대한산업공학회지
• /
• 제41권3호
• /
• pp.259-266
• /
• 2015

Among many energy resources, natural gas has recently received a remarkable amount of attention, particularly from the electrical generation industry. This is in part due to increasing shale gas production, providing an environment-friendly fossil fuel, and high risk of nuclear power. Because South Korea, the world's second largest LNG importing nation after Japan, has no international natural gas pipelines and relies on imports in the form of LNG, the natural gas has been traditionally procured by long term LNG contracts at relatively high price. Thus, there is a need of developing an Asian LNG trading hub, where LNG can be traded at more competitive spot prices. In a natural gas spot market, the amount of natural gas to be bought should be carefully determined considering a limited storage capacity and future pricing dynamics. In this work, the problem to find the optimal amount of natural gas in a spot market is formulated as a Markov decision process (MDP) in risk neutral environment and the optimal base stock policy which depends on a stage and price is established. Taking into account price and demand uncertainties, the basestock target levels are simply approximated from dynamic programming. The simulation results show that the basestock policy can be one of effective ways for procurement of LNG in a spot market.

• KSII Transactions on Internet and Information Systems (TIIS)
• /
• 제11권3호
• /
• pp.1336-1356
• /
• 2017

The spectrum scarcity crisis has resulted in a shortage of resources for many emerging wireless services, and research on dynamic spectrum management has been used to solve this problem. Game theory can allocate resources to users in an economic way through market competition. In this paper, we propose a bidding game-based spectrum allocation mechanism in cognitive radio network. In our framework, primary networks provide heterogeneous wireless service and different numbers of channels, while secondary users have diverse bandwidth demands for transmission. Considering the features of traffic and QoS demands, we design a weighted interference graph-based grouping algorithm to divide users into several groups and construct the non-interference user-set in the first step. In the second step, we propose the dynamic bidding game-based spectrum allocation strategy; we analyze both buyer's and seller's revenue and determine the best allocation strategy. We also prove that our mechanism can achieve balanced pricing schema in competition. Theoretical and simulation results show that our strategy provides a feasible solution to improve spectrum utilization, can maximize overall utility and guarantee users' individual rationality.

• 국제지역연구
• /
• 제14권3호
• /
• pp.35-60
• /
• 2010

이 논문은 동태게임이론에 바탕을 둔 구조모형을 개발하여 미국 Dallas-Forth Worth 지역의 우유시장의 시장지배력을 측정하였다. 특히, 정태모형에서 도출된 담합추정 파라미터와 동태모형에서 도출된 파라미터를 비교하였으며 정태모형을 이용한 시장지배력 측정의 편기를 분석하였고 기업들의 담합행동의 순환적인 행동도 분석하였다. 분석 결과에 따르면 기업들의 행위가 동태적인 과점이론을 따를 경우 정태모형은 시장지배력을 과소평가하는 경향을 나타내고 있으며 Dallas-Forth Worth 우유시장에서 기업들의 담합 행위는 수요충격과 미래에 예상되는 비용충격에 반순환적인(countercyclical) 모습을 보여주고 있다. Dallas-Forth Worth 시장의 결과는 이론적인 동태과점모형의 예측과 일치하고 있다. 이는 기업들이 가격책정이 다른 기업들의 현재 시장에서의 반응뿐만 아니라 미래의 시장경쟁상황도 고려하여 이루어지고 있음을 나타낸다. 따라서 시장지배력의 검정은 이런 동태적 경쟁을 고려하도록 가격책정관계식을 설정하는 것이 필요하다고 할 수 있다. 그리고 정태 계량모형을 데이터에 무원칙하게 적용하는 것은 시장의 경쟁상황에 대한 잘못된 해석을 유발할 수 있다.

• KDI Journal of Economic Policy
• /
• 제13권1호
• /
• pp.151-166
• /
• 1991

본고에서는 기존 독점생산자(獨占生産者)와 잠재적(潛在的) 신규참입자(新規參入者)간에 존재할 수 있는 진입제한(進入制限) 및 약탈가격(掠奪價格) 책정전략(策定戰略)을 간단한 복점(複占)게임모형(模型)을 통하여 분석한다. 분석(分析)으로부터 유도되는 대표적 결론(結論)은 생산여건(生産與件)에 관한 정보(情報)가 비대칭적(非對稱的)으로 분포되어 있을 경우 그 중 정보면에서 우월한 위치를 점하고 있는 생산자(生産者)가 잠재적(潛在的) 경쟁자(競爭者)를 불확실성하에 잡아 두려는 노력의 일환으로 진입제한가격(進入制限價格)이나 약탈가격(掠奪價格)을 책정할 수 있다는 점이다. 또 하나 본(本) 모형(模型)으로부터 얻을 수 있는 결론(結論)은 어느 독점생산자(獨占生産者)가 그의 독점적 위치를 지속적으로 지켜 나가기 위해 약탈가격(掠奪價格)을 책정하는 것만으로는 부족하다는 점이다. 그가 시장(市場)의 독점(獨占)을 효과적으로 유지해 나가기 위해서는 신규참입(新規參入)이 없는 경우에도 진입제한가격(進入制限價格)을 통하여 시장가격(市場價格)을 지속적으로 낮게 유지해야 한다. 이같은 결론은 진입제한가격(進入制限價格)과 약탈가격(掠奪價格)을 각각 분리해서 분석한 기존의 논의(論議)에는 결여되어 있는 것으로 약탈가격(掠奪價格)으로부터의 장기적 이익을 퇴출(退出) 이후의 독점이윤(獨占利潤)과 동일시하는 많은 분석들이 수정되어야 함을 의미한다. 진입제한(進入制限) 및 약탈가격(掠奪價格) 책정전략(策定戰略)이 합리적 이윤극대화전략(利潤極大化戰略)으로 성립할 수 있다고 하더라도 이것이 곧 이러한 기업행태(企業行態)에 관한 정부의 전면적인 금지조치(禁止措置)를 정당화하는 것은 아니다. 본고에서 일어나는 두가지 전략(戰略)은 오히려 복지증진적(福祉增進的)인 성격을 지니고 있으며 따라서 진입제한(進入制限) 및 약탈가격책정행위(掠奪價格策定行爲)의 규제(規制)는 사안별(事案別)로 신중히 다루어져야 함을 시사하고 있다.

• Journal of Electrical Engineering and Technology
• /
• 제10권3호
• /
• pp.755-765
• /
• 2015

A thermostatically controlled load (TCL) can be one of the most appropriate resources for demand response (DR) in a smart grid environment. DR capability can be effectively implemented in a TCL with various intelligent control methods. However, because traditional on-off control is still a commonly used method in a TCL, it is useful to develop a method for adding DR capability to the TCL with an existing on-off controller. As a specific realization of supervisory control for implementing DR capability in the TCL, two methods are proposed - a method involving the changing of a set point and a method involving the paralleling of an identified system without delay. The proposed methods are analyzed through the simulations with an electric heater for different power consumption levels in the on-state. Considerable cost benefit can be achieved with the proposed methods when compared with the case without DR. In addition, the observations suggest that a medium power consumption level, instead of the maximum power, in the on-state should be used for consistently obtaining the cost benefit without severe temperature deviation from the specified temperature range for DR.

• Journal of Communications and Networks
• /
• 제6권1호
• /
• pp.68-77
• /
• 2004

In the near future packet networks should support applications which can not predict their traffic requirements in advance, but still have tight quality of service requirements, e.g., guaranteed bandwidth, jitter, and packet loss. These dynamic characteristics mean that the sources can be made to modify their data transfer rates according to network conditions. Depending on the customer&; needs, network operator can differentiate incoming connections and handle those in the buffers and the interfaces in different ways. In this paper, dynamic QoS-aware scheduling algorithm is presented and investigated in the single node case. The purpose of the algorithm is in addition to fair resource sharing to different types of traffic classes with different priorities ?to maximize revenue of the service provider. It is derived from the linear type of revenue target function, and closed form globally optimal formula is presented. The method is computationally inexpensive, while still producing maximal revenue. Due to the simplicity of the algorithm, it can operate in the highly nonstationary environments. In addition, it is nonparametric and deterministic in the sense that it uses only the information about the number of users and their traffic classes, not about call density functions or duration distributions. Also, Call Admission Control (CAC) mechanism is used by hypothesis testing.

• The Journal of Asian Finance, Economics and Business
• /
• 제8권1호
• /
• pp.623-635
• /
• 2021

The purpose of this research is to examine the impact of information risk on the Cost of Equity (COE) and whether the risk of a stock price crash mediates the relation between information risk and COE. To test the dynamic nature of the proposed model, the two-step system GMM dynamic panel estimators are applied to all the non-financial firms listed on the Pakistan Stock Exchange (PSX) from 2007- 2018. The results of this study show that all three types of information risk, as well as the risk of the share price crash, increases the COE. The crash risk strengthens the impact of information risk on the COE. Moreover, these three information risks are correlated with each other and an increase in information quality reduces the effect of asymmetric information and improves the investor interpreting ability, while an increase in private information decreases the transparency. The finding is crucial for asset pricing, portfolio management, and information disclosure. This study contributes to the literature by providing novel findings on the impact of three different types of information risk, i.e. private information, quality of information, and transparency of information on the COE as well as whether crash risk mediates the relationship.

• The Journal of Asian Finance, Economics and Business
• /
• 제8권7호
• /
• pp.433-446
• /
• 2021

This study aims to identify the elasticities and casualties of financial performance and determinants of the mining and extractive companies listed in Jordan's stock market over the 2005-2018 period. The conceptual framework is based on the Resource-Based View theory and Arbitrage Pricing theory is used to describe the relationship between the external environment and the financial performance of the companies. Profitability ratio (return on assets) is utilized as a proxy of financial performance measurement. Meantime, the company's characteristics, macroeconomic variables, and non-economic factors are utilized as independent factors. Data sources are panel data set for mining and extractive companies over the above period. Fully Modified Ordinary Least Square (FMOLS), Dynamic Ordinary Least Squares (DOLS), and Pooled Mean Group (PMG) methods are applied. The empirical findings indicated that company size, sales growth, financial leverage, liquidity, and GDP growth were the critical determinants of mining and extractive companies' financial performance in the Amman Stock Exchange. Thus, the findings conclude that company characteristics and GDP growth mainly drive financial performance. Moreover, the findings reveal that a bidirectional causal elasticity exists between GDP and financial leverage and return on assets (ROA). Sound financial performance can be obtained by paying more attention to GDP growth and firms' characteristics.

• 유통과학연구
• /
• 제21권12호
• /
• pp.103-111
• /
• 2023

Purpose: This study explores the impact of live commerce on consumer purchase intention in the Chinese market. Live commerce, a novel marketing strategy that fuses e-commerce with live streaming, has gained significant popularity in China. The study aims to pinpoint main ways that live commerce increases customers' propensity to make purchases. Research design, data, and methodology: The PRISMA technique was adhered to in the systematic cycle of finding, screening, and selecting publications. Predefined keywords like "live commerce," "live-stream shopping," "consumer purchase intention," and "China" produced a large number of possibly pertinent research in the first search. Results: This study has delved into the profound effects of live commerce on consumer purchase intention, with a specific focus on the dynamic Chinese market. This study has identified four primary outcomes that support the revolutionary potential of live commerce: increased product engagement, significant social influences, dynamic pricing tactics, and the establishment of trust and credibility. Conclusions: Finally, the study provides live commerce practitioners with valuable insights, advising them on maximizing these impacts to increase consumer buy intention. In summary, this study offers helpful information to companies and marketers who want to take advantage of live commerce as a powerful tool for connecting with Chinese customers and increasing sales.