• 제목/요약/키워드: Elasticity of demand

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A Review about the Need for Modelling Toll Road with Different Value of Travel Time (유료도로의 교통수요분석에 있어서 통행시간가치 차등화 필요성 검토)

  • Kim, Jae-Yeong;Son, Ui-Yeong;Jeong, Chang-Yong
    • Journal of Korean Society of Transportation
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    • v.27 no.4
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    • pp.31-40
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    • 2009
  • Some road charges toll to finance the cost or to manage traffic congestion. With a growth of PPI projects, toll roads would be increase continuously. Tolls have a considerable influence on user's route choice, and sometimes can affect to the departure time and even to mode choice. For modelling toll roads, user's WTP or VOT has an important role and it is general that VOT is equivalent to the wages of workers. The current way of modelling technique yields various toll price elasticity from low to high. When there exist few alternative routes, unrealistic result that all traffic assigned to some shortest path may occur. The toll price elasticity can be influenced by alternative route and congestion level, but some result shows nearly unrealistic patterns. The model to forecast more realistic toll road demand is very essential for estimating toll revenue, choice of optimal toll level & collecting location and establishing toll charge strategy. This paper reviewed some literatures about toll road modelling and tested case study about the assignment technique with different VOT. The case study shows that using different VOT yields more realistic result than the use of single VOT.

The Development of Dynamic Model for Long-Term Simulation in Water Distribution Systems (상수관망시스템에서의 장기간 모의를 위한 동역학적 모형의 개발)

  • Park, Jae-Hong
    • Journal of Korea Water Resources Association
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    • v.40 no.4
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    • pp.325-334
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    • 2007
  • In this study, a long-term unsteady simulation model has been developed using rigid water column theory which is more accurate than Extended-period model and more efficient comparing with water-hammer simulation model. The developed model is applied to 24-hours unsteady simulation considering daily water-demand and water-hammer analysis caused by closing a valve. For the case of 24-hours daily simulation, the pressure of each node decreases as the water demand increase, and when the water demand decrease, the pressure increases. During the simulation, the amplitudes of flow and pressure variation are different in each node and the pattern of flow variation as well as water demand is quite different than that of KYPIPE2. Such discrepancy necessitates the development of unsteady flow analysis model in water distribution network system. When the model is applied to water-hammer analysis, the pressure and flow variation occurred simultaneously through the entire network system by neglecting the compressibility of water. Although water-hammer model shows the lag of travel time due to fluid elasticity, in the aspect of pressure and flow fluctuation, the trend of overall variation and quantity of the result are similar to that of water-hammer model. This model is expected for the analysis of gradual long-term unsteady flow variations providing computational accuracy and efficiency as well as identifying pollutant dispersion, pressure control, leakage reduction corresponding to flow-demand pattern, and management of long-term pipeline net work systems related with flowrate and pressure variation in pipeline network systems

Developing Wastepaper Demand-Supply Model and Policy Measures to Increase Wastepaper Recycling Rate (폐지시장(廢紙市場)의 수요(需要)·공급(供給) 모델의 개발(開發)과 회수율(回收率) 제고방안(提高方案))

  • Choi, Kwan;Han, Sang-Yoel
    • Journal of Korean Society of Forest Science
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    • v.83 no.2
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    • pp.133-147
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    • 1994
  • Wastepaper recycling has significant implications not only in providing scarce raw material input for the paper industry but in environmental concerns such as reducing solid waste disposal, energy conservation and preservation of forest resources. The objectives of this study was (1) to develop an econometric model of demand for and supply of wastepaper, (2) to forecast wastepaper consumption and price to the year 2000 applying the econometric models estimated and (3) to estimate the elasticity of variables which are included in the wastepaper supply and demand equations. In this study wastepaper was classified into three groups, old newsprint, old corrugated and mixed For each group such as demand and supply equation were estimated. The demand equations were estimated as a function of paper and paper product consumption and wholesale price index and supply equations as a function of wastepaper price, one year lagged paper and paperproduct consumption and transportation price. Applying the econometric models to forcasting results in the future consumption and supply of wastepaper projected as 11.645 million MT and 7.396 million MT in 2000, respectively. The rate of wastepaper self-supply is forcasted about 63.5% in 2000. Especially, the rate of old neswprint self-supply is predicted about 16% which means about 2.2 million MT of old newsprint should be imported from foreign countries. Lastly, some policy measures to promote wastepaper recycling rate based upon economic and physical characteristics of wastepaper and market structure are suggested.

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A Study on the Demand of Taxi Transfer Discount Using Ordinal Logistic Model (순서형 로짓 모형을 활용한 택시환승할인수요에 관한 고찰)

  • Kim, Ki Young;Jung, Hun Young
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.38 no.5
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    • pp.685-692
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    • 2018
  • Busan city implemented 'taxi transfer discount system' since October 2017 in order to create for new demand taxis. However, due to the low transfer discount amount and limited payment method to prepaid cards, it is difficult to attain the aim. In this study, we investigated the usage status of taxi transfer discount system and the intention to use taxi transfer discount system according to the discount amount level. We established a model of intention to estimate demand of taxi transfer discount using ordinal logistic model. The results of analysis are as following. The critical reason for low usage was to limit taxi transfer discount payment methods to prepaid cards other than post-paid cards which is used for most transportation payment. It was found that the discount rate for taxi transfers was affected in order of payment method, the purpose of the travel, major transportation, frequency taxi use, age, transportation costs, and the discount of taxi transfers. Also, the taxi transfer discount could be expected to increase to 1,550 won based on the price elasticity of demand due to changes in taxi transfer discount rate.

Compressive Properties of Ultra High Strength Concrete Exposed to High Temperature (고온에 노출된 초고강도 콘크리트의 압축특성)

  • Kang, Yong-Hak;Kang, Choong-Hyun;Choi, Hyun-Guk;Shin, Hyun-Jun;Kim, Wha-Jung
    • Journal of the Korea Concrete Institute
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    • v.26 no.3
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    • pp.377-384
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    • 2014
  • Recently, the trend toward larger architectural structures continues and accelerates demand for Ultra High Strength Concrete (UHSC) which satisfies structural performance. However, UHSC has weakness in fire and the performance tests are required. In this paper, the change of mechanical properties of 100 MPa grade UHSC exposed to high temperatures ($20^{\circ}C{\sim}800^{\circ}C$) was observed to develop high temperature material model of UHSC: residual compressive strength, modulus of elasticity, property of stress-strain on monotonous loading and property of stress-strain on cyclic loading. In addition, TG/DTA and SEM Images analyses were performed to investigate chemical and physical characteristics of UHSC, and the results of this research were compared with those of previous studies. As a result, UHSC at the heating temperature of $300^{\circ}C$ showed a sharp decrease of residual compressive strength and modulus of elasticity. And It was shown that UHSC had a plastic behavior at more than $400^{\circ}C$ on the cyclic loading and revealed a same tendency in both monotonous and cyclic loading of all heating temperatures. In addition, through TG/DTA and SEM images analyses compared with those from previous studies, it was shown that the deterioration of concrete inner tissue, water evaporation and chemical reaction caused the decrease of residual compressive strength and modulus of elasticity.

Effect of ICT Capital on the Demands for Labor and Energy in Major Industries of Korea, US, and UK (ICT 자본 투입이 노동 및 에너지 수요에 미치는 영향: 한국, 미국, 영국의 제조업 및 전기·가스·수도사업의 생산구조 비교)

  • Kim, Jihyo;Heo, Eunnyeong
    • Environmental and Resource Economics Review
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    • v.23 no.1
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    • pp.91-132
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    • 2014
  • We investigate the effect of ICT capital on the demands for labor and energy in manufacturing and electricity gas water industries of Korea, US, and UK. Assuming ICT capital, non-ICT capital, labor, electricity, fuel, and material as input factors for manufacturing and ICT capital, non-ICT capital, labor and energy material as input factors for electricity gas water industry, we estimate the Morishima elasticities of substitution. Considering the relative price changes of input factors, ICT capital has substituted labor in manufacturing and electricity water gas industries of the three countries. ICT capital has substituted both electricity and fuel in US and UK manufacturing. Although ICT capital has substituted electricity and fuel each other in Korean manufacturing, ICT capital is unlikely to decrease the demands for electricity and fuel when considering their relative price changes. ICT capital has substituted energy material in electricity gas water industries of the three countries.

Integrated Trip Distribution/Mode Choice Model and Sensitivity Analysis (통행분포/수단선택 통합모형 및 민감도분석)

  • Im, Yong-Taek
    • Journal of Korean Society of Transportation
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    • v.29 no.2
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    • pp.81-89
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    • 2011
  • Trip distribution is the second step of the conventional travel demand estimation process, which connects trips between origin and destination, while transport mode choice is the third step of the process, which chooses transport mode among several modes serving for each origin-destination pair. Although these two steps have closely connected, they have been estimated independently each other in the estimation procedure. This paper presents an integrated model combining trip distribution and transport mode choice, and also presents its solution algorithm. The model integrates gravity model adopted for the trip distribution process with logit model employed for the mode choice process. The model would be expected to cope with the inconsistency issue existing in the conventional travel demand estimation procedure. This paper also presents an equilibrium condition, sensitivity of the model, and compares them with those of existing models.

Joint Price and Lot-size Determination for Decaying Items with Ordering Cost Inclusive of a Freight Cost under Trade Credit in a Two-stage Supply Chain (2 단계 신용거래 공급망에서 운송비용이 포함된 주문 비용을 고려한 퇴화성제품의 재고정책 및 판매가격 결정 모형)

  • Shinn, Seong-Whan
    • The Journal of the Convergence on Culture Technology
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    • v.6 no.2
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    • pp.191-197
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    • 2020
  • As an effective means of price discrimination, some suppliers offer trade credit to the distributors for the purpose of increasing the demand of the product they produce. The availability of the delay in payments from the supplier enables discount of the distributor's selling price from a wider range of the price option in anticipation of increased customer's demand. In this regard, we consider the problem of determining the distributor's optimal price and lot size simultaneously when the supplier permits delay in payments for an order of a product whose demand rate is represented by a constant price elasticity function. It is assumed that the distributor pays the shipping cost for the order and hence, the distributor's ordering cost consists of a fixed ordering cost and the shipping cost that depend on the order quantity. For the analysis, it is also assumed that inventory is depleted not only by customer's demand but also by decay. We are able to develop a solution algorithm from the properties of the mathematical model. A numerical example is presented to illustrate the algorithm developed.

Radicular Pain due to Subsidence of the Nitinol Shape Memory Loop for Stabilization after Lumbar Decompressive Laminectomy

  • Son, Byung-Chul;Kim, Deog-Ryeong
    • Journal of Korean Neurosurgical Society
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    • v.57 no.1
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    • pp.61-64
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    • 2015
  • A number of dynamic stabilization systems have been used to overcome the problems associated with spinal fusion with rigid fixation recently and the demand for an ideal dynamic stabilization system is greater for younger patients with multisegment disc degeneration. Nitinol, a shape memory alloy of nickel and titanium, is flexible at low temperatures and regains its original shape when heated, and the Nitinol shape memory loop (SML) implant has been used as a posterior tension band mostly in decompressive laminectomy cases because the Nitinol implant has various characteristics such as high elasticity and a tensile force, flexibility, and biological compatibility. The reported short-term outcomes of the application of SMLs as posterior column supporters in cervical and lumbar decompressive laminectomies seem to be positive, and complications are minimal except for the rare occurrence of pullout and fracture of the SML. However, there was no report of neurological complications related to neural compression in spite of the use of the loop of SML in the epidural space. The authors report a case of delayed development of radiating pain caused by subsidence of the SML resulting epidural compression.

The economic value of water in Korean manufacturing industry

  • Ku, Se-Ju;Yoo, Seung-Hoon
    • Proceedings of the Korea Water Resources Association Conference
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    • 2010.05a
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    • pp.447-451
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    • 2010
  • It is quite important for manufacturing firms to stably secure water, because industrial water is used for a variety of purposes as one of the important inputs in the production process. Despite the significance of industrial water use and the increase of industrial water demand, relatively little has studied regarding the industrial water use in Korea. This paper employs the marginal productivity approach in order to estimate the economic value of water in Korean manufacturing industry, and we use the information of 53,912 factories surveyed in 2003. The result of the likelihood ratio test shows that Trans-log is an appropriate model for estimating the data of this study. In Trans-log function model, the industry-wide output elasticity of water is 0.0104, and the marginal value is KRW 1,156 per ton. The estimated values differ across the sectors and these values range from the high value of about KRW 13,760 per ton in the transportation equipment sector to low values of KRW 428 per ton in the precision instrument sector. The research provides useful information to help policy-makers in developing and implementing more appropriate policies regarding the management and distribution of water resources by estimating the value of water resources by sector. In addition, Korean government enables the drafting of future water pricing scenarios based on the estimated value information.

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