• Journal of Environmental Policy
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• v.6 no.3
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• pp.91-114
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• 2007

The cooperative cost sharing scheme for Dust and Sand Storm(DSS) in North East Asia, as suggested in Song and Nagaki(2007), may not be feasible due to possible defection(s) of participating countries. If non-cooperative strategies are more plausible, Nash equilibrium can suggest possible outcomes of the cost sharing game. The result from the continuous strategy model shows that there exists an infinite number of Nash equilibrium such that the summation of investment from each country is always equal to the required budget of the ADS pilot project. It is also discussed that the discrete strategy model points to only 3 Nash equilibria in continuous strategy game outcome and the cooperative game solution may be just one of the infinite equilibria.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.52 no.9
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• pp.542-549
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• 2003

In this paper, a novel approach to generator maintenance scheduling strategy in competitive electricity markets based on non-cooperative dynamic game theory is presented. The main contribution of this study can be considered to develop a game-theoretic framework for analyzing strategic behaviors of generating companies (Gencos) from the standpoints of the generator maintenance-scheduling problem (GMP) game. To obtain the equilibrium solution for the GMP game, the GMP problem is formulated as a dynamic non-cooperative game with complete information. In the proposed game, the players correspond to the profit-maximizing individual Gencos, and the payoff of each player is defined as the profits from the energy market. The optimal maintenance schedule is defined by subgame perfect equilibrium of the game. Numerical results for two-Genco system by both proposed method and conventional one are used to demonstrate that 1) the proposed framework can be successfully applied in analyzing the strategic behaviors of each Genco in changed markets and 2) both methods show considerably different results in terms of market stability or system reliability. The result indicates that generator maintenance scheduling strategy is one of the crucial strategic decision-makings whereby Gencos can maximize their profits in a competitive market environment.

• Journal of Nuclear Fuel Cycle and Waste Technology(JNFCWT)
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• v.20 no.2
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• pp.171-183
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• 2022

The parent and daughter nuclides in a radioactive decay chain arrive at secular equilibrium once they have a large half-life difference. The characteristics of this equilibrium state can be used to estimate the production time of nuclear materials. In this study, a mathematical model and algorithm that can be applied to radio-chronometry using the radioactive equilibrium relationship were investigated, reviewed, and implemented. A Bateman equation that can analyze the decay of radioactive materials over time was used for the mathematical model. To obtain a differential-based solution of the Bateman equation, an algebraic numerical solution approach and two different matrix exponential functions (Moral and Levy) were implemented. The obtained result was compared with those of commonly used algorithms, such as the Chebyshev rational approximation method and WISE Uranium. The experimental analysis confirmed the similarity of the results. However, the Moral method led to an increasing calculation uncertainty once there was a branching decay, so this aspect must be improved. The time period corresponding to the production of nuclear materials or nuclear activity can be estimated using the proposed algorithm when uranium or its daughter nuclides are included in the target materials for nuclear forensics.

• Geomechanics and Engineering
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• v.31 no.2
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• pp.223-235
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• 2022

Bearing capacity of shallow foundations is often determined for either dry or saturated soils. In some occasions, foundations may be subjected to external loading which is inclined and/or eccentric. In this study, the ultimate bearing capacity of shallow foundations resting on partially saturated coarse-grained cohesionless and fine-grained cohesive soils subjected to a wide range of combined vertical (V) - horizontal (H) - moment (M) loadings is rigorously evaluated using the well-established limit equilibrium method. The unified effective stress approach as well as the suction stress concept is effectively adopted so as to simulate the behaviour of the underlying unsaturated soil medium. In order to obtain the bearing capacity, four equilibrium equations are solved by adopting Coulomb failure mechanism and Bishop effective stress concept and also considering a linear variation of the induced matric suction beneath the foundation. The general failure loci of the shallow foundations resting on unsaturated soils at different hydraulic conditions are presented in V - H - M spaces. The results indicate that the matric suction has a marked influence on the bearing capacity of shallow foundations. In addition, the effect of induced suction on the ultimate bearing capacity of obliquely-loaded foundations is more pronounced than that of the eccentrically-loaded footings.

• Journal of Korean Society of Transportation
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• v.8 no.2
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• pp.27-41
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• 1990

In this study the economic impacts of government support of shipping industry in the labor rich country are appraised in a general equilibrium model. Shipping industry subsidies (which are supposed to be supplied by lump-sum tax) will decrease disposable income by shifting productive resources from traded goods to the comparatively disadvantageous transport sector, and at the same time reduce the implicit tariff effect by lowering transport costs. The net effect of shipping industry subsidies is to increase social welfare because the latter positive effect of shipping industry subsidies is to increase social welfare because the latter positive effect dominates the former negative effect. Such an increase in social welfare can never be expected from competitive traded goods industry subsidies in the case of which social welfare will actually decrease because of inefficient resource allocation resulting from the subsidies. In addition it is worth noting that the subsidies on the most capital intensive shipping industry will rectify unevenness in income distribution by raising relative price of labor contrary to subsidies on capital intensive traded goods.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.59 no.12
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• pp.2150-2156
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• 2010

In this paper, we investigate how an electricity capacity market design may encourage generators to exaggerate their available capacity. In order for an analytical approach, a two player game model is introduced. We focus on two pure strategy Nash equilibria: an equilibrium at which generators offer their true capacities, and an equilibrium at which generators offer exaggerated capacities. The latter case is caused by asymmetries of information between players and so called 'moral hazard' in terms of the economics literature. This paper shows that, considering practical electricity markets, the moral hazard case is highly probable. Moreover, it is shown that, with the considered capacity market design in the real world, the better the electricity energy market performs, the higher the risk of moral hazard becomes.

• Korean Management Science Review
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• v.30 no.3
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• pp.1-16
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• 2013

In this paper, we deal with an enhanced index fund strategy by implementing the exchange trade funds (ETFs) within the context of the Black-Litterman approach. The KOSPI200 index ETF is used to build risk-controlled portfolio that tracks the benchmark index, while the proposed Black-Litterman model mitigates estimation errors in incorporating both active investment views and equilibrium views. First, we construct a Black-Litterman model portfolio with the active market perspective based on the momentum strategy. Then, we update the portfolio with the KOSPI200 index ETF by using the equilibrium return ratio and weighted averages, while devising optimization modeling for improving the information ratio (IR) of the portfolio. Finally, we demonstrate the empirical viability of the proposed enhanced index strategies with KOSPI 200 data.

• Structural Engineering and Mechanics
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• v.63 no.4
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• pp.481-495
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• 2017

The present article examines the static response of multilayered magneto-electro-elastic (MEE) beam in thermal environment through finite element (FE) methods. On the basis of the minimum total potential energy principle and the coupled constitutive equations of MEE material, the FE equilibrium equations of cantilever MEE beam is derived. Maxwell's equations are considered to establish the relation between electric field and electric potential; magnetic field and magnetic potential. A simple condensation approach is employed to solve the global FE equilibrium equations. Further, numerical evaluations are made to examine the influence of different in-plane and through-thickness temperature distributions on the multiphysics response of MEE beam. A parametric study is performed to evaluate the effect of stacking sequence and different temperature profiles on the direct and derived quantities of MEE beam. It is believed that the results presented in this article serve as a benchmark for accurate design and analysis of the MEE smart structures in thermal applications.

• Proceedings of the Korean Society of Propulsion Engineers Conference
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• 2006.05a
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• pp.7-10
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• 2006

A quasi-equilibrium model is used in order to aid movement and ballistic analysis for a propellant actuated device(PAD) system. The validity of the model is examined by experiments of a PAD system. The appropriateness of its usage for application was explored by comparing the tendency of experiments and analysis results, and the coefficients of friction and heat loss were obtained. The design method developed will be applied to the design of PAD systems.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.53 no.1
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• pp.67-72
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• 2004

This paper addresses the bidding strategies of generating firms in a competitive market where the firms are provided with payment for generating reactive power. Reactive support for voltage control is an integral and critical part of power system operations. Since reactive support is unbundled in a competitive market under open access transmission, it is treated as one of ancillary services. The operation costs and opportunity costs for reactive support are compensated by payment to the firms, hence their bidding strategies will be affected. The opportunity costs are evaluated from the foregone profits of a generator in making sales in real power market by providing reactive support instead of real power. Game theory approach is used to analysis the transaction strategies of real power by the bimatrix method in this paper. Through computing the Nash equilibrium in a sample system, an incentive of a generator for improving the reactive generating capacity is found to be effective and the variations of the profits are analyzed as the demand power factor changes.