• Asia Marketing Journal
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• v.16 no.1
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• pp.35-69
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• 2014

The impact of competition on pricing has been studied in the context of counterfactual merger analyses where expected optimal prices in a hypothetical monopoly are compared with observed prices in an oligopolistic market. Such analyses would typically assume static decision making by consumers and firms and thus have been applied mostly to data obtained from consumer packed goods such as cereal and soft drinks. However such static modeling approach is not suitable when decision makers are forward looking. When it comes to the markets for durable products with indirect network effects, consumer purchase decisions and firm pricing decisions are inherently dynamic as they take into account future states when making purchase and pricing decisions. Researchers need to take into account the dynamic aspects of decision making both in the consumer side and in the supplier side for such markets. Firms in a two-sided market typically subsidize one side of the market to exploit the indirect network effect. Such pricing behaviors would be more prevalent in competitive markets where firms would try to win over the battle for standard. While such qualitative expectation on the relationship between pricing behaviors and competitive structures could be easily formed, little empirical studies have measured the extent to which the distinct pricing structure in two-sided markets depends on the competitive structure of the market. This paper develops an empirical model to measure the impact of competition on optimal pricing of durable products under indirect network effects. In order to measure the impact of exogenously determined competition among firms on pricing, we compare the equilibrium prices in the observed oligopoly market to those in a hypothetical monopoly market. In computing the equilibrium prices, we account for the forward looking behaviors of consumers and supplier. We first estimate a demand function that accounts for consumers' forward-looking behaviors and indirect network effects. And then, for the supply side, the pricing equation is obtained as an outcome of the Markov Perfect Nash Equilibrium in pricing. In doing so, we utilize numerical dynamic programming techniques. We apply our model to a data set obtained from the U.S. video game console market. The video game console market is considered a prototypical case of two-sided markets in which the platform typically subsidizes one side of market to expand the installed base anticipating larger revenues in the other side of market resulting from the expanded installed base. The data consist of monthly observations of price, hardware unit sales and the number of compatible software titles for Sony PlayStation and Nintendo 64 from September 1996 to August 2002. Sony PlayStation was released to the market a year before Nintendo 64 was launched. We compute the expected equilibrium price path for Nintendo 64 and Playstation for both oligopoly and for monopoly. Our analysis reveals that the price level differs significantly between two competition structures. The merged monopoly is expected to set prices higher by 14.8% for Sony PlayStation and 21.8% for Nintendo 64 on average than the independent firms in an oligopoly would do. And such removal of competition would result in a reduction in consumer value by 43.1%. Higher prices are expected for the hypothetical monopoly because the merged firm does not need to engage in the battle for industry standard. This result is attributed to the distinct property of a two-sided market that competing firms tend to set low prices particularly at the initial period to attract consumers at the introductory stage and to reinforce their own networks and eventually finally to dominate the market.

• Proceedings of the Korean Geotechical Society Conference
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• 1999.03a
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• pp.521-528
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• 1999

As the size of our industry and population inclose, the byproducts such as municipal solid wastes, industrial wastes are in the increasing phase. The treatment of such things is rising as a social problem. Today, the final disposal of these wastes depends mostly on the landfill, and the sanitary landfill is required and designed for preventing soil and groundwater contamination. Clays have been used for a liner material of a sanitary landfill, however, the high quality clay is hard to come by and quite expensive as a lining material in our country. Using the waste lime produced abundantly every year from chemical processes was studied here, made from the proper mixing of the bentonite and the waste lime meets the regulations from the USEPA. The soil property index tests (sieve analysis, specific gravity test Atterberg limit test) were performed, and at last to confirm the sorption characteristics of the bentonite and the waste lime the sorption isotherm equilibrium test and the sorption isotherm were performed with Toluene and Ethylbenzene which are the main components of the leachate from the landfill.

• Transactions of the Korean Society of Mechanical Engineers B
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• v.22 no.6
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• pp.832-839
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• 1998

The potential work is defined as the maximum available work extractable from a composite system. It is important concept to understand the behavior of a composite system because it is a property of the composite system and shows the possible room for the system to change its state by itself. To explain this concept quantitatively, the behavior of a composite system composed of two simple ideal gas systems is analyzed. The potential work of the composite system is estimated, the various reversible processes from a given state to the equilibrium state and the processes on which potential works are constant are shown on the T-P and S-V planes. Such an effort will be necessary to understand and characteristics of composite systems as well as helpful for a deeper comprehension of the energy conversion principles.

• Textile Coloration and Finishing
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• v.1 no.1
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• pp.26-34
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• 1989

The selective chemical degradation or etching of PET based on an organic amine attack on the ester group. The techniques involves the chemical removal of loss ordered amorphous regions or crystalline regions, which are essentially unaffected by the degradative etchant. Thus, most of previous studies have limited to consideration which has been given to structural changes taking place. Therefore, this study was carried out to investigate surface characterization, dyeing properties of PET film hydrazinolyzed with hydrazine hydrate in methanol. PET film was treated with 30% hydrazine hydrate in methanol at $30^\circ{C}$ for various time intervals. The total surface tension of treated PET increased, the dispersion force decreased and the hydrogen bonding force increased. The equilibrium dye adsorption, dyeing rate and apparent diffusion coefficient of acid dyes increased, and the apparent activation energies of diffusion decreased.

• Journal of the Korean Society of Industry Convergence
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• v.2 no.1
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• pp.121-130
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• 1999

It is necessary to measure pressure, temperature, chemical equilibrium and the shape of flame in order to understand the combustion process in a combustion chamber. In particular, the flame formulation and combustion process of divided combustion chamber are different from those of a single chamber, And the variable diameter of a jet hole can effect not only physical properties like ejection velocity, temperature and time of combustion but also a chemical property like the reaction mechanism. Accordingly temperature is one of the most important factors which influence the combustion mechanism. This paper observed shape of flame by using the schlieren photographs and measured the pressure in a combustion chamber and the reaching time of the flame by ion probe By doing these, we investigation the formulation of the flame and the process of propagation. These measurement methods can be advanced in understanding the combustion process and process and propagation of flame.

• Journal of Life Science
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• v.9 no.6
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• pp.733-736
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• 1999

The doubly altered mutant tryptophan synthase $\alpha$-subunits, in which Thr 24 was replaced by Ser, Leu or Lys in addition to F139W substitution, were purified. Urea-induced unfolding equilibrium curves of these proteins, monitored by fluorescence intensity of tryptophan, show that the alterations of residue 24 resulted in marked changes in folding properites, suggesting the importance of this residue in folding of this protein.

• Smart Structures and Systems
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• v.10 no.3
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• pp.193-207
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• 2012

New insights into our previously proposed hybrid-type method for vibration control are highlighted in terms of energy analysis, such as the assessment of energy efficiency and system stability. The hybrid method improves the bang-bang active method by combining it with an energy-recycling approach. Its simple configuration and low energy-consumption property are quite suitable especially for isolated structures whose energy sources are strictly limited. The harmful influence of the external voltage is assessed, as well as its beneficial performance. We show a new chattering prevention approach that both harvests electrical energy from piezoelectric actuators and eliminates the displacement-offset of the equilibrium point of structures. The amount of energy consumption of the hybrid system is assessed qualitatively and is compared with other control systems. Experiments and numerical simulations conducted on a 10-bay truss can provide a thorough energy-efficiency evaluation of the hybrid suppression system having our energy-harvesting system.

• Journal of the Korean Society for Heat Treatment
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• v.13 no.6
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• pp.391-397
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• 2000

Addition of Ca element and nonequilibrium heat treatment which promotes shape modification of eutectic Si and ${\beta}$ intermetallic compound were conducted to improve the mechanical properties of Al-Si-Cu alloy. Modification of eutectic Si and dissolution of needle-shape ${\beta}$ intermetallic compounds were possible by nonequilibrium heat treatment in which specimens were held at $505^{\circ}C$ for 2 hours in Al-Si-Cu alloy with Fe. Owing to the decrease in aspect ratio of eutectic Si by the heat treatment of the alloy with 0.33wt.% Fe, the increase in elongation was prominent to be more than double that in the as-cast specimen. Dissolution of needle-shape ${\beta}$ intermetallic compounds in the alloy with 0.85wt.% Fe led to the improvement of tensile strength as the length of ${\beta}$ compounds decreased to 50%.

• Structural Engineering and Mechanics
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• v.64 no.2
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• pp.205-212
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• 2017

Based on the coupled elastic bending deformation features and relationships between the internal force and deformation of pre-twisted Euler beam, the generalized strain, the equivalent constitutive equation and the equilibrium equation of pre-twisted Euler beam are developed. Based on the properties of the dual-antisymmetric matrix, the general solution of pre-twisted Euler beam is obtained. By comparison with ANSYS solution by using straight Beam-188 element based on infinite approach strategy, the results show that the developed method is available for pre-twisted Euler beam and also provide an accuracy displacement interpolation function for the subsequent finite element analysis. The effect of pre-twisted angle on the mechanical property has been investigated.

• Journal of the Korean Mathematical Society
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• v.45 no.1
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• pp.1-27
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• 2008

We introduce a new concept of convex spaces and a multimap class K having certain KKM property. From a basic KKM type theorem for a K-map defined on an convex space without any topology, we deduce ten equivalent formulations of the theorem. As applications of the equivalents, in the frame of convex topological spaces, we obtain Fan-Browder type fixed point theorems, almost fixed point theorems for multimaps, mutual relations between the map classes K and B, variational inequalities, the von Neumann type minimax theorems, and the Nash equilibrium theorems.