• Asia Marketing Journal
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• v.14 no.1
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• pp.53-81
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• 2012

Constructing attractive bundle offers depends on more than an understanding of the distribution of consumer preferences. Consumers are also sensitive to the framing of price information in a bundle offer. In classical economic theory, consumers' utility should not change as long as the total price paid stays same. However, even when total prices are identical, consumers' preferences toward a bundle product could be different depending on the format of price presentation and the locus of price discount. A weighted additive model predicts that the impact of a price discount on the overall evaluation of the bundle will be greater when the discount is assigned to the more important product in the bundle(Yadav 1995). Meanwhile, a reference dependent model asserts that it is better to assign a price discount to a tie-in component that has a negative valuation at its current offer price than to a focal product that has a positive valuation at its current offer price(Janiszewski and Cunha 2004). This paper has expanded previous research regarding price discount presentation format, investigating the reasons for mixed results of prior research and presenting new mechanisms for price discount framing effect. Prior research has hypothesized that bundling is used to sell a tie-in component with an offer price above the consumer's reference price plus a focal product of the same offer price with reference price(e.g., Janiszewski and Cunha 2004). However, this study suggests that bundling strategy can be used for increasing product's attractiveness through the synergy between components even when offer prices of bundle components are the same with reference prices. In this context, this study employed various realistic bundle sets with same price between offer price and reference price in the experiment. Hamilton and Srivastava(2008) demonstrated that when evaluating different partitions of the same total price, consumers prefer partitions in which the price of the high-benefit component is higher. This study determined that their mechanism can be applied to price discount presentation formats. This study hypothesized that price discount framing effect depends not on the negative perception of tie-in component with offer price above reference price but rather on the consumers' perceived consumption benefit in bundle product. This research also hypothesized that preference for low-benefit discount mechanism is that perceived consumption benefit reduces price sensitivity. Furthermore, this study investigated how consumers' concern for quality in a price discount--a factor not considered in previous research--influences price discount framing. Yadav(1995)'s experiment used only one magazine bundle of relatively low quality uncertainty and could not show the influence of perceived uncertainty of quality. This study assumed that as perceived uncertainty of quality increases, the price sensitivity mechanism for assigning the discount to low-benefit will increase. Further, this research investigated the moderating effect of uncertainty of quality in price discount framing. The results of the experiment showed that when evaluating different partitions of the same total price and the same amount of discounts, the partition that discounts in the price of low benefit component is preferred to the partition that decreases the price of high benefit component. This implies that price discount framing effect depends on the perceived consumption benefit. The results also demonstrated that consumers are more price sensitive to low benefit component and less price sensitive to high benefit component. Furthermore, the results showed that the influence of price discount presentation format on the evaluation of bundle product varies with the perceived uncertainty of quality in high consumption benefit. As perceived uncertainty of quality gradually increases, the preference for discounts in the price of low consumption benefit decreases. Besides, the results demonstrate that as perceived uncertainty of quality gradually increases, the effect of price sensitivity in consumption benefit also increases. This paper integrated prior research by using a new mechanism of perceived consumption benefit and moderating effect of perceived quality uncertainty, thus providing a clearer explanation for price discount framing effect.

• 제어로봇시스템학회:학술대회논문집
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• 1996.10a
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• pp.24.1-24
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• 1996

The development of future aircraft that involves the expanded flight envelop will place increased performance requirements on the design of the flight control system. Maneuvering areas are expanding into flight envelopes characterized by significantly larger levels of modeling uncertainty than encountered in present flight control designs. Conventional flight control techniques that ignore the effects of large parameter variations, modeling uncertainties and nonlinearities, will likely produce designs with poor performance and robustness. Recent advances in modern control theories called advanced control theories, most notably the H$\_$.inf./ synthesis technique, adaptive control and neural network application, offer the promise of a design technique that can produce both high performance and robust controllers for next generation aircraft. This special lecture will survey the recent development in advanced flight control and review the possible application of advanced control theories.

• Korean Journal of Applied Biomechanics
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• v.22 no.2
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• pp.243-251
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• 2012

The purpose of this study was to develop an impact force measurement device in order to facilitate the acquisition of quantitative data for the analysis of various sporting events. The device was designed to include cylindrical aluminum supports of 220 mm diameter, which allows mounting and dismounting of the device on walls and frames. In addition, a hard sponge for impact absorption, as well as 4 springs, were attached to the plate. Both were attached to prevent psychological variables and injuries. When a subject applies force on the device, accurate data about the maximum repulsive force is acquired in real time, with a lag of only 0.001 s. The device was calibrated in four steps: (1) increase, (2) increase, (3) increase-decrease, and (4) increase-decrease. The maximum relative expanded uncertainty was 0.166%, indicating that the impact force measurement was sufficiently reliable. The proposed device can be applied to various sporting situations and is expected to be useful for studying kinetics.

• Proceedings of the KIEE Conference
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• 2008.09a
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• pp.69-71
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• 2008

We have developed a current range extension method to obtain the ratio error and phase displacement of a current transformer (CT) by using absolute evaluation method and two different CTs. The method was applied to CTs under test with the current ratios of the range of 5,000 A / 1 A - 20,000 A / 1 A. The ratio error and phase displacement of the CT under test obtained in this study are consistent with those measured at the national institute in Germany using the same CT under test within an expanded uncertainty (k = 2) in the overall current ratios.

• The Transactions of the Korean Institute of Electrical Engineers P
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• v.58 no.1
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• pp.72-78
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• 2009

We have developed a current range extension method to obtain the ratio error and phase displacement of a current transformer (CT) by using absolute evaluation method and two different CTs. The method was applied to CTs under test with the current ratios in the range of 5,000 A / 1 A - 20,000 A / 1 A. The ratio error and phase displacement of the CT under test obtained in this study are consistent with those measured at the national institute in Germany using the same CT under test within an expanded uncertainty (k = 2) in the overall current ratios.

• Journal of Korea Technology Innovation Society
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• v.8 no.1
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• pp.29-50
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• 2005

Real options provide a new and productive way to view corporate r&d investment decisions. DCF approach is well established and beloved of financial executives, but is known to systematically underestimate investment value under significant uncertainty. Though real options are not inherent in a r&d investment, they can be used to compute the investment value including managerial flexibility like option value. In this paper, we explain how the interval of option value in black-scholes model can be estimated using simulation. We also present a process framework for interval estimation of volatility and efficient of period of investment value. In such a setting, we can obtain the appropriate interval estimation of the expanded investment value.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.58 no.8
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• pp.1624-1632
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• 2009

In this study, we introduce the design methodology of an optimized Interval Type-2 fuzzy controller. The fixed MF design of type-1 based FLC leads to the difficulty of rule-based control design for representing the linguistically uncertain expression. In the Type-2 FLC as the expanded type of Type-1 FLC, we can effectively improve the control characteristic by using the footprint of uncertainty(FOU) of membership function. Type-2 FLC has a robust characteristic in the unknown system with unspecific noise when compared with Type-1 FLC. Through computer simulation as well as practical experiment, we compare their performance by applying both the optimized Type-1 and Type-2 fuzzy cascade controllers to ball and beam system. To evaluate each controller performance, we consider controller characteristic parameters such as maximum overshoot, delay time, rise time, settling time and steady-state error.

• Structural Engineering and Mechanics
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• v.25 no.3
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• pp.331-345
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• 2007

Uncertainties enter a complex analysis from a variety of sources: variability, lack of data, human errors, model simplification and lack of understanding of the underlying physics. However, for many important engineering applications insufficient data are available to justify the choice of a particular probability density function (PDF). Sometimes the only data available are in the form of interval estimates which represent, often conflicting, expert opinion. In this paper we demonstrate that Bayesian estimation techniques can successfully be used in applications where only vague interval measurements are available. The proposed approach is intended to fit within a probabilistic framework, which is established and widely accepted. To circumvent the problem of selecting a specific PDF when only little or vague data are available, a hierarchical model of a continuous family of PDF's is used. The classical Bayesian estimation methods are expanded to make use of imprecise interval data. Each of the expert opinions (interval data) are interpreted as random interval samples of a parent PDF. Consequently, a partial conflict between experts is automatically accounted for through the likelihood function.

• Journal of Applied Tourism Food and Beverage Management and Research
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• v.14 no.1
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• pp.1-19
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• 2003

Organizations should constantly modify and refine the mechanism by which they achieve their purposes- no only by scanning the environmental change and uncertainty, but also by choosing the right strategies. As scanning largely perceived environment, the management need to maintain a systemized perspective on their environment in order to make profitable decisions(strategic choice). Accordingly, this article presents a theoretical framework that top managers or managers of food service organizations can use to analyze their environment as an integrated and systemized whole - a model that take into account the interrelationships among domains of environment and strategic choice. Also, the results of this study will be a guideline for further expanded environmental scanning.

• Journal of Sensor Science and Technology
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• v.14 no.6
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• pp.381-386
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• 2005

A Co-C eutectic cell for thermocouple calibration was manufactured and tested to investigate its phase transition characteristics using Type B thermocouples. It was observed that the freezing plateaus were flatter than those of melting, but the melting points were closer to the true transition temperature than the freezing points. The expanded uncertainty of melting temperature was calculated not to exceed $0.2^{\circ}C$ (k = 2). Based on the observed results, the melting process is recommended for the calibration of thermocouples.