• Journal of Distribution Science
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• v.11 no.5
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• pp.63-76
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• 2013

Purpose - For the past several decades, behavioral economics or behavioral decision theory has undergone rapid development. This study provides a critical review of the development of behavioral economics with a focus on what are deemed to be core theories in the field. Starting from the utility function proposed by Daniel Bernoulli in the 18th century, the development history of utility functions until the emergence of the prospect theory is thoroughly reviewed. Some of the experimental results violating the traditionally assumed utility function and supporting the prospect theory value function are summarized. The most representative principles of rational choice are transitivity, independence from irrelevant alternatives (IIA), and regularity. The development of behavioral economics has been triggered by finding counter-examples to these principles. Some of the choice behaviors discussed in this study as counter-examples to the traditional theories of rational choice are the St. Petersburg paradox; the Allais paradox; gambling behavior; and the various context effects including the similarity effect, attraction effect, and the compromise effect. The Elimination-by-Aspects (EBA) model, which was proposed as an explanation for the similarity effect, is discussed in detail as well. Based on the literature review and further analysis, this study summarizes the relationship between the context effects, prospect theory, and EBA model. Research design, data, and methodology - This study provides an extensive literature review on several important theories in the field of behavioral decision theory and adds some critical comments to the theories and the relationships among them. This study first reviews the development of utility functions. Daniel Bernoulli introduced the concept of utility function to solve the St. Petersburg paradox. In the mid-20th century, Herbert Simon proposed the "satisficing" heuristic and presented a value function with a shape different from traditional utility functions. This study highlights the strengths and weaknesses of several utility functions proposed until the emergence of the prospect theory value function. Results - This study posits that prospect theory and EBA model are the two most important theories in the field of behavioral decision theory. They can explain various choice behaviors that traditional utility maximization analysis has been unable to. The application of these models to various fields is further increasing nowadays. This study explains how prospect theory and the EBA model can be used to explain the context effects. Conclusions - The traditional economic theory relies on a single variable called "utility" in explaining consumer choice. However, this study argues that, in investigating consumer choice, several other variables should also be considered. These are the similarity among alternatives, an alternative's prototypicality within the category, the dominance relationship between alternatives, and the reference point in evaluating alternatives. Due to the development of behavioral economics, we are now closer to a more complete understanding of consumer choice behavior than in the past when we had only a single tool called utility.

• Journal of muscle and joint health
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• v.6 no.2
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• pp.253-277
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• 1999

Patients with chronic disease have various treatment patterns because it shows a progressive degenerative feature. Especially various physical and emotional problems of the rheumatoid arthritis patients leave them shopping around various types of treatment. According to previous studies, over 70% of patients with arthritis experienced the traditional oriental medicine or folk remedies simultaneously with medical treatment within one year after the onset of disease. The purposes of this study are 1) to compare the patterns of treatment-seeking behaviors between Korean arthritis patients and Americans ; and 2) test two models of treatment-seeking behaviors by path analysis, one for early treatment-seeking behavior model(ETBM) and the other is chronic treatment-seeking behavior model (CTBM) in Korean sample. The interview survey was performed to 133 RA patients with structured questionnaire at out-patient clinic or public health center. Patients characteristics such as age, duration of disease were similar in two countries except higher educational background in Americans. There were no patients using only alternative therapies or no medical treatment in the US. Most of the American patients have chosen both medical treatment and alternative therapy, while the Koreans less than American. In Korea, combined treatment group usually consists of the people who are younger, more educated and higher economic status than the characters of other groups in early or chronic stages. In early stage, they tend to have strong belief of curing from the disease, satisfy the relationship with their physicians and comply with direction of the medical professional. The paths of two models were explained by 70% in ETBM and 33% in CTBM. When the models were modified, almost all paths of the CTBM were the same as the previous one, but direct determinant factor was changed from the relationship with physicians to the lay referral system in chronic model. These two models' explanation powers became 94% and 88%, respectively. The attitude or perception of disease, lay referral system and the relationship with medical personnel are the main determinants of treatment-seeking behaviors.

• Korea journal of population studies
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• v.24 no.2
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• pp.149-177
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• 2001

This is a study on age-crime curve in Korea. Three data was used in this study as following: First is the crime statistics as aggregated data. Second is the police record(N=3.541 offences) of the male ex-offenders(N=988) who have been released in eleven prisons in 1987 as individual data. Third is the self-reported group-interview data(N=10.198 offences) administered to the male prisoners(N=979) in ten correctional facilities including eight adult prisons, one juvenile prison and one juvenile training center as another individual data. Generally, the right-skewness of age-crime curve has been explained through the difference of crime rate between early starters and late starters. Moffitt explains that this is because of the higher participation rate of the juvenile period of adolescence-limited offenders, but Godttfredson and Hirschi explain that this is because of a similar distribution in the crime rate of both early starters and late starters. the analysis of this study shows that Godttfredson and Hirschi’s explanation on the generality of age-crime-curve distribution is correct, but this can be modified by various factors like a economic crisis. And the peak age of juvenile period is consistent with the Moffitt’s hypothesis that the peak age is contributed to the increase of crime rate of late starters, not with Godttfredson and Hirschi’s one.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.10
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• pp.432-441
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• 2017

The aim of this study was to investigate the relationship among family function, intimacy risk with the opposite sex, and campus life satisfaction among college students. A descriptive study was conducted. Data were collected from May 11, 2017 to May 20, 2017 by using a structured questionnaire. The participants were 180 college students at two colleges in J-city. Data were analyzed using t-test, one way ANOVA, Scheffe test, pearson correlation coefficient, and multiple regression analysis with SPSS 20.0. The mean scores were as follows: family function $3.07{\pm}0.44$(5 points), intimacy risk with the opposite sex $2.03{\pm}0.59$(4 points), and campus life satisfaction $3.20{\pm}0.50$(5 points). There was a significant correlation between the family function, intimacy risk with the opposite sex, and campus life satisfaction variables. Multiple regression analysis showed that factors influencing campus life satisfaction were family communication(${\beta}=0.341$, p=.001) and parental economic activity type(${\beta}=0.161$, p=.007). The explanation power of this regression model was 13.1%. These results of this study indicate that effective campus life satisfaction should be developed by including improvement of family community of family function.

• Journal of Korean Academy of Nursing
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• v.30 no.2
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• pp.413-424
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• 2000

The purpose of this study was to analyze the effect of anticipated variables on hemodialysis that was impact patients' quality of life. The subjects of the study were 104 patients who were over 18 years old. They were enrolled at Kidney dialysis unit in General Hospital located in T and M city, Republic Korea. And the duration of treatment was more than 6 months. They all met the research criteria and agreed to participate in the research. The research instrument have 25 questionnaire which were originally Ferrans' (1985) instrument to measure the quality of life for hemodialysis patients and later changed by Lee, Suk-Ja into the 35 items after eliminating repeated contents, the Cronbach's $\alpha$in this study was .87. The stress instrument was measured by 36 items which were modified and supplemented the instrument developed by Kim, Yong-Kyong(15) for hemodialysis patients, and the Cronbach's $\alpha$was .9333. Depression instrument was 20 questions modified BDI(Beck Depression Inventory) to meet hemodialysis patients' conditions, and Cronbach's $\alpha$ was .92. June 25, 1999 and the data was analyzed by SPSS/PC, and the statistical techniques were ANOVA(variables analysis), Scheffe test, Multiple Regression. The findings of this study were as follows: 1. The effect of general characteristics on hemodialysis patients' quality of life, the characteristics showing a statistically, significant difference were the existence of an occupation(t=6.7353, P= .0109), marital status (F=4.3550, P= .0290), economic status (F=4.6475, P= .0118) and presence of care support (F=2..4738, P= .0494). 2. The effect of general characteristics on the patient's stress, the characteristics showing a significant difference were gender (t= 4.1143, p= .0451), education level (F= 4.3550, p= .008), the existence of an occupation (t=8.7498, p= .0038), and presence of care support(F=3.1715, p= .0169). 3. The effects of general characteristics on depression, the characteristics were education level (F=3.7517, P= .0069), the existence of religion(t=9.4843, p= .0027), an occupation (t=15.3745, p= .0002), marital status (F=3.3400, P= .0223) and presence of care support (F=3.7605, p= .0069). 4. The Multiple Regression is used to identify the effect of anticipated variables on the patient's quality of life. The variables were depression (T=-9.656, P=.000), marital status (T=-2.287, P=.0243) and the regression expression was Y=117.62053 - 1.13618Χ$_1$ + 2.66213Χ$_2$(Χ$_1$: Depression, Χ$_2$ : Marriage), The explanation of the total regression expression appeared to be 52.578%.

• Journal of Labour Economics
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• v.24 no.2
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• pp.63-94
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• 2001

Based on the human capital theory, the wage differentials among laborers are generated from the discrepancy of human capital stock which depends on individual laborer's decision. Hence, the wage differentials among laborers or between male and female are not the results of discrimination, but the results of individual choice. But, if the individual choice for human capital stock would be affected by the male-female discrimination, the explanation for male-female wage differentials base on the human capital stock has a bias. Actually, women have experienced in the discrimination on labor market participation due to gravity, parturition, infant rearing. Also, it is a fact that women have been discriminated against men in labor market owing to social, traditional, and cultural discriminations. If woman or her parent will less invest on human capital than man owing to the existence of discrimination in labor market, the 'expected human capital stock' instead of human capital stock will explain male-female wage differentials better. Therefore, in this study, we set up three models; first model includes working hours, industry, occupation, etc which are in general used as explanatory variables for wage decision, second model includes the variables which reflect the traditional human capital stock together with the first model's explanatory variables, third model employes the 'expected human capital stock' instead of traditional human capital stock. From the empirical test, the estimates of discrimination in three models are .93, .60, and, .48 respectively. This result implies that the male-female wage differentials in Korea can be explained by the discrepancy of 'expected human capital stock'. Since the discrepancy in expected human capital stock depend on the disparity in life-cycle labor force participation, male-female wage differentials can largely be attributed to male-female disparity in expected lifetime labor force participation.

• Korean Journal of Occupational Health Nursing
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• v.24 no.2
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• pp.122-131
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• 2015

Purpose: The purpose of this study was to investigate what factors are affecting job-seeking stress in nursing students. Methods: Subjects were 463 students from two 3-year and two 4-year colleges of nursing in K-Province in Korea. Data was collected from self-administered questionnaires. t-test, ANOVA, Pearson's and Spearman's correlation coefficients, and hierarchical multiple regression with dummy variables were used for statistical analysis of data. Results: Job-seeking stress was significantly different by school system (t=2.76, p=.006), family economic status (F=3.40, p=.005), characteristics (t=1.99, p=.047), academic achievement (F=6.54, p=.002), current weight control status (t=2.23, p=.026), times of cosmetic surgery (r=.11, p=.022), self-esteem (r=-.47, p<.001) and appearance stress (r=.40, p<.001). However, after controlling for general characteristics, self-esteem, and perceived appearance stress, job-seeking stress was significantly different by grade (1st vs 3rd, ${\beta}=0.163$, p<.001), academic achievement (low vs. high, ${\beta}=-0.121$, p=.0321), self-esteem (${\beta}=-0.224$, p<.001), and appearance stress (${\beta}=0.099$, p<.001). The explanation power of self-esteem on job-seeking stress was greater compared with that of appearance stress. Conclusion: Results of this study suggest that it is necessary for nursing students to develop intervention program aimed at reducing job-seeking stress, and it would be effective to focus on improving self-esteem for them.

• Korea journal of population studies
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• v.25 no.1
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• pp.113-143
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• 2002

This research explores the effect of Korean women's human capital on their employments. The first research question is which Korean women's human capital increase the rate of women's employment. And then the second research question is which Korean women's human capital affect the kind of women's job. In general, women's representative human capital indicates the educational attainment, the training of job skill, the certificate of job, and the their health. Human capital theoriests insist that individual's human capital determines the participation into the labor market, the type of job and wage. But in Korea it is well known that highly educated women's rate of employment is very low. The method of this research is logit analysis and regression analysis, using the cross-sectional data. We find in this research that women's human capital does not have a positive effect on women's employment rate. The longer women's schooling period is, the less women's participation rates into the labor market are. Women's training of job skill, certificate of job and health does not also have a statistical significance on their employment rate. Besides women's human capital does not affect the kind of job. So human capital theory is very limited explanation on Korean women's economic activities.

• Journal of agriculture & life science
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• v.45 no.6
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• pp.291-301
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• 2011

This study is based on the diagnosis process on agricultural production cost survey, which is one of the most representative public statistics of agricultural sector in Korea. The diagnosis were performed by employing the quantitative and qualitative approaches with the official guideline provided by the Ministry of Statistics. The various results were produced from the aspects of exactness, relevance, timeliness, accessibility, and comparability, which were based on the qualitative approaches including focus group interview (FGI) with professional users. The results from statistical portfolio analysis implies that the first priority to improve the statistics is given to 'satisfaction level corresponding to user cost' and 'offering sufficient explanation'. The comprehensive results, discussed with the administrative office, are summarized into the following two major points. First, classification of the detailed items should be improved to avoid users' confusion. However, the re-classification need to be professionally reviewed with the relevant administrative office such as Rural Development Administration, producing similar statistics. Second, the KOSIS system is found to be constantly upgraded to improve the users' convenience.

• Review of Culture and Economy
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• v.17 no.2
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• pp.3-28
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• 2014

The characteristics of performing arts differ from those of utilitarian goods in terms of economics. Factors other than price need to be considered to understand the demand for performing arts. Audience surveys as well as econometric demand studies have confirmed that socio-economic factors such as age, income, employment, and education are major determinants of the demand for performing arts. This study focused on the attributes of concerts rather than consumer characteristics to determine the concerts audiences select in terms of transaction cost. Genre, price, internet search trends, and the purpose of performance as well as price are tested as determinants of demand by using the data set for a major concert hall in Seoul. Genre and the specific purpose of concerts influence the demand for concerts. Internet search trends of the performer are used as indicators of popularity and information exposure, which are positively correlated with demand. This result supports the hypothesis that larger audiences would attend concerts that require lower information search costs. To note, price has a positive effect on demand in the higher price range, which means that concerts at higher prices attract larger audiences, whereas normal goods have a negative slope in the demand curve. This result can be explained by the hypothesis that consumers use price as an indicator of the quality expected of a concert. Transaction cost for selecting classical concerts thus forms an inverse-U shape curve against ticket price. These results provide some explanation of why audiences of classical music choose to attend concerts at high ticket prices while offering evidence in favor of the hypothesis that performing arts are selected in a social context.