• Journal of Soil and Groundwater Environment
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• v.21 no.6
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• pp.156-168
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• 2016

The Korean government is planning to invest a lot of funds for conservation of the soil. Accordingly, it needs quantitative information on the soil. This paper attempts to analyze the total value of soil quantitatively: the total economic value of soil can be divided into use value and non-use value. To this end, we apply a replacement cost method (RCM) and contingent valuation method (CVM). Especially, CVM is most widely used to measure the non-use value such as environment goods. We employed the one-and-one-half-bounded dichotomous choice (OOHBDC) for willingness to pay (WTP) elicitation and a spike model. The monthly mean WTP was estimated to be KRW 3,949 per household for the next 10 years, which is statistically significant at the 1% level. Expanding the value to the relevant population gives us KRW 897.9 billion per year and as of the end of 2015, the non-use value of soil was assessed to be KRW 838.6 billion. Meanwhile, use value is subdivided into direct use value and indirect use value. This value was calculated KRW 3,277 trillion and KRW 51.8 trillion, respectively. As a result, total economic value of soil is estimated to be KRW 3,330 trillion in Korea.

• Journal of Electrical Engineering and Technology
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• v.12 no.4
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• pp.1417-1426
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• 2017

Power system analysis, Non-Convex Economic Dispatch (NED) is considered as an open and demanding optimization problem. Despite the fact that realistic ED problems have non-convex cost functions with equality and inequality constraints, conventional search methods have not been able to effectively find the global answers. Considering the great potential of meta-heuristic optimization techniques, many researchers have started applying these techniques in order to solve NED problems. In this paper, a new and efficient approach is proposed based on imperialist competitive algorithm (ICA). The proposed algorithm which is named multi-operator ICA (MuICA) merges three operators with the original ICA in order to simultaneously avoid the premature convergence and achieve the global optimum answer. In this study, the proposed algorithm has been applied to different test systems and the results have been compared with other optimization methods, tending to study the performance of the MuICA. Simulation results are the confirmation of superior performance of MuICA in solving NED problems.

• Journal of Electrical Engineering and Technology
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• v.10 no.4
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• pp.1441-1452
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• 2015

This paper proposes a new Hybrid Particle Swarm Optimization (HPSO) method that integrates the Evolutionary Programming (EP) and Particle Swarm Optimization (PSO) techniques. The proposed method is applied to solve Economic Dispatch(ED) problems considering prohibited operating zones, ramp rate limits, capacity limits and power balance constraints. In the proposed HPSO method, the best features of both EP and PSO are exploited, and it is capable of finding the most optimal solution for the non-linear optimization problems. For validating the proposed method, it has been tested on the standard three, six, fifteen and twenty unit test systems. The numerical results show that the proposed HPSO method is well suitable for solving non-linear economic dispatch problems, and it outperforms the EP, PSO and other modern metaheuristic optimization methods reported in the recent literatures.

• Environmental Engineering Research
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• v.13 no.1
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• pp.41-48
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• 2008

The valuation of biodiversity is a fundamental step in conservation. The useful framework for analysing the economic value of biological resources is that of total economic value (TEV) and TEV comprises both use and non-use values, the former related to an actual use made of the resource, the latter to a willingness to pay for the resource independently of any use made of it. There are several valuation approacher in environmental economics literature. However, stated preference approach should be introduced for valuation of biodiversity because it can estimate non-use value as well as use value. Contingent Valuation and Conjoint Analysis are representative methods in stated preference and Conjoint Analysis can be more useful for valuation of biodiversity. Futhermore, the combination of ecology and economics to assess biodiversity leads to an integrated framework. Thus, interdisciplinary work is required, involving both economists and ecologists transferring elements or even theories and models from one discipline to another and transforming them for their specific, mutually consistent purpose.

• Journal of Families and Better Life
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• v.22 no.4
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• pp.85-94
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• 2004

The purpose of this study was to examine the determinants of economic contributions of home-based family businesses. The results suggested that positive effect on direct contributions of home-based family businesses was associated with a male manager, more family members, more employees, non-family employees in the business, engaged in food and restaurant business, located in Seoul area, and higher perceived success of the business. Positive effect on indirect contributions of home-based family businesses was associated with a female manager, a child under age 6, only family members as employees, and greater initial investment in the business. Working hours were negatively related to the indirect contributions. Greater total economic contributions of the home-based family businesses was associated with a male manager, more family members, more employees, non-family employees in the business, engaged in restaurant business, located in Seoul, and higher perceived success on the business.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.7
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• pp.21-30
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• 2021

This study examines the role of the manufacturing sector in stimulating economic growth in the Saudi economy. Even though the economic literature shows how the manufacturing sector stimulates economic growth, it does not clearly show the role of the manufacturing sector in economic growth. The study employed annual time-series data spanning the 1980-2018 period from the databases of the Saudi Arabian Monetary Authority. Moreover, the cointegration and VECM approaches were employed to examine the short- and long-run relationship causality between variables. The results show a two-way causal relationship exists between the manufacturing sector and economic growth. Furthermore, the results indicate that a unidirectional causal relationship exists, running from the manufacturing sector to the services sector. The study recommends that the determinants of the growth of the Saudi manufacturing sector must be investigated. Moreover, the most productive Saudi manufacturing industries must be identified, and the productivity of other sectors must be increased in a way that contributes to economic plans and policies. Thus, adopting economic policies that stimulate investment in the manufacturing sector contributes to increasing non-oil exports to diversify sources of income to achieve vision 2030 of the Kingdom of Saudi Arabia.

• Journal of Korea Water Resources Association
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• v.43 no.11
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• pp.957-965
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• 2010

The municipal water is directly related to the people's quality of life. To examine and implement reasonable water policies including management of the water demand and economically sound investment decisions, it is essential to estimate the conceptually correct and empirically valid economic value of water. This study attempts to estimate the consumer surplus and economic value of municipal water which is supplied to 16 cities in Korea using demand curve approach. The results indicate that the consumer surplus and economic value of municipal water in 2009 are estimated as KRW 1,180.7 per $m^3$ and KRW 1,812.8 per $m^3$, respectively. The economic values of municipal water in 16 cities range from KRW 1,082.7 per $m^3$ to KRW 3,268.6 per $m^3$. Moreover, the economic value of non-residential water is higher than that of residential water in all cities, and the economic value of water is higher than the present price of water. This study is expected to provide policy-makers with useful information to assess a policy and to evaluate the price of water.

• Proceedings of the CALSEC Conference
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• 2005.03a
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• pp.293-298
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• 2005

This paper is a study on the model that measures economic values for the non-market properties of e-Business. For development of this model, first of all, we reviewed the properties of e-Business service, and looked around the relation between customer satisfaction and/or payment value and e-Business properties. In addition, we checked the method to measure economic values of these properties. This measurement method is the contingent valuation method which is a method of measuring the value of the environmental product. We modified it to adapt to the e-Business. Finally, in this paper, we proposed an economic value model which measures the value of willingness to pay(WTP) to our objectives. However, there could be some restrictions at the time when surveying empirically. Therefore, the succeeding study should be done in order to improve these restrictions some day.

• The Journal of the Korea Contents Association
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• v.11 no.1
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• pp.329-339
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• 2011

This study aims at investigating how English proficiency affects economic development of a country by analyzing the relationships among English proficiency, economic activities (amount of trade, R&D investment, etc), and the rate of economic growth, focusing on twenty-one non-English-speaking OECD countries. Ordinary Least Square (OLS) and Seemingly Unrelated Regression Estimation (SURE) were used for the data analysis in the study. The findings reveals that there existed little statistical significance to support the fact that English proficiency was directly related to the economic development in a positive way in many countries except Mexico, the Czech Republic, Finland, and Poland. However, English proficiency indirectly influenced the economic development in the way of increasing the amount of trade. These results can lead to the conclusion that English proficiency is not a sufficient element but a necessary one. Furthermore, it is expected that English proficiency can positively affect the economic development when it plays a part as sufficient complementary goods which make up for physical capital, technology accumulation, political stability, and worthy government.

• Journal of Family Resource Management and Policy Review
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• v.26 no.3
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• pp.49-64
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• 2022

This study aims to investigate unmet healthcare needs due to economic or non-economic difficulties among the elderly aged 65 or older. Using Korea Health Panel Survey (KHPS) data from 2018, the elderly are classified into one of four groups (health insurance subscribers, non-take-up, lower income relief, and medical aid recipients) based on their level of medical vulnerability. For hospital or dental care, the prevalence rates of unmet healthcare needs due to economic and non-economic difficulties are 12.6% and 10.6%, respectively. The prevalence rate of unmet healthcare needs due to economic difficulty in the medically vulnerable group was much higher than that of the non-vulnerable group-that is, health insurance subscribers. After controlling for other influential factors, medical vulnerability has a great impact on the prevalence rates of unmet healthcare needs due to economic difficulties. Compared to health insurance subscribers, the non-take-up, the lower relief, and the medical aid recipients are 1.4 times, 3.3 times, and 2.4 times more likely to experience unmet healthcare needs due to economic difficulty, respectively. The results of this study can provide important policy implications for securing essential healthcare resources for the elderly.