• Title/Summary/Keyword: Expected Value

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A Study on Multi-Period Inventory Clearance Pricing in Consideration of Consumer's Reference Price Effect

  • Koide, Takeshi;Sandoh, Hiroaki
    • Industrial Engineering and Management Systems
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    • v.12 no.2
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    • pp.95-102
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    • 2013
  • It is difficult to determine an appropriate discount price for daily perishable products to increase profit from a long-term standpoint. Even if the discount pricing is efficient to increase profit of the day, consumers memorize the sales price and they might hesitate to purchase the product at a regular price the following day. The authors discussed the inventory clearance pricing for a single period in our previous study by constructing a mathematical model to derive an optimal sales price to maximize the expected profit by considering the reference price effect of demand. This paper extends the discussion to handle the discount pricing for multiple periods. A mathematical analysis is first conducted to reveal the properties on an objective function, which is the present value of total expected profits for multiple periods. An algorithm is then proposed to derive an optimal price for asymmetric consumers. Numerical experiments investigate the characteristics of the objective function and optimal pricings.

A Study on Optimal Software Maintenance Policies with Warranty Period (보증기기간을 고려한 최적 소프트웨어의 보전정책 연구)

  • Nam, Kyung-H.;Kim, Do-Hoon
    • Journal of Korean Society for Quality Management
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    • v.39 no.2
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    • pp.170-178
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    • 2011
  • In general, a software fault detection phenonenon is described by a software reliability model based on a nonhomogeneous Poisson process(NHPP). In this paper, we propose a software reliability growth model considering the differences of the software environments in both the testing phase and the operational phase. Also, we consider the problem of determining the optimal release time and the optimal warranty period that minimize the total expected software cost which takes account of periodic software maintenance(e.g. patch, update, etc). Finally, we analyze the sensitivity of the optimal release time and warranty period based on the fault data observed in the actual testing process.

A study on the relationship between proprietary information cost and the quality of disclosure

  • Kim, Ki Beom;Lee, Han Geun
    • International Journal of Internet, Broadcasting and Communication
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    • v.14 no.3
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    • pp.270-275
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    • 2022
  • Examining whether the relationship between proprietary information cost and management's disclosure decision is also valid for domestic companies is expected to provide meaningful implications for investors and regulatory authorities. However, there are no domestic studies related to proprietary information costs so far. This study examines whether managers tend to lower the disclosure level at their discretion in consideration of proprietary information costs. This study used the measurement quality of disclosure to examine whether managers tend to lower the disclosure level at their discretion in consideration of proprietary information costs. As a result of empirical analysis, it was confirmed that there is a negative relationship between proprietary information cost and the quality of disclosure. This suggests that management tends to make disclosure decisions in consideration of not only the benefits of disclosure but also proprietary information costs resulting from disclosure in order to maximize corporate value. These findings are expected to have significant implications for investors and related policy authorities.

Analysis of Main Control Factors for Design Value Engineering Work in Construction Projects (건설 프로젝트 설계VE 업무의 중점 관리 요인 분석)

  • Kim, Soo-Yong;Yang, Jin-Kook
    • Korean Journal of Construction Engineering and Management
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    • v.7 no.1 s.29
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    • pp.128-137
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    • 2006
  • Recently the role and the importance of design value engineering is expected to be high, so research is needed for its effective accomplishment. But in domestic arena, the introduction of the history of design value engineering is too short and insufficient in act of research. Therefore in this research we have suggest the standard for the effective accomplishment of design value engineering work. The way is the abstraction many causes. firstly, we analyzed the team project case of value engineering professional instruction. second, we analyzed the cause of problem produced in accomplishment process of design value engineering work through research for the professional field. So from the base of the analyzed content, we have suggest main control factor for the effectiveness of design value engineering work and the following scheme and process of work efficiency optimization.

Comparison Analysis of School Foodservice Dietitians' Job Satisfaction, Work Value, and Turnover Intention Based on the Expectation to be a Nutrition Teacher (학교 급식 관리 영양사의 영양교사 제도에 대한 기대감에 따른 직무만족도, 근로가치관 및 이직의도의 차이 분석)

  • Cha Myeong-Hwa;Seo Sun-Hee
    • Korean Journal of Community Nutrition
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    • v.11 no.3
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    • pp.361-373
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    • 2006
  • The purpose of this study was to identify the difference of school food service dietitians' work value, job satisfaction, and turnover intention based on their expectation to be a nutrition teacher. Also, this study explored the differences in expectation to be a nutrition teacher, work value, job satisfaction, turnover intention depending on demographics and school foodservice operational characteristics. This study surveyed dietitians who worked at school foodservice in Kyunggii and Daegu Gyeoungbuk Province. A total of 509 responses were collected using on-site survey and online survey (59.3%). Dietitians expressed favorable work value ($3.88{\pm}0.34$) and mid level of a job satisfaction ($2.99{\pm}0.64$). The percentage of dietitians who had an intention to leave after the promulgation of a nutrition teacher system (13.2%) was lower than that of dietitians who had an intention to leave prior to it (23.2%). Most dietitians expected a salary rise (84.7%), more chance to teach nutrition education (76.0%), and the improvement of power not only as a teacher but as a dietitian (72.7%). Dietitians who had higher expectation levels to be a nutrition teacher (> 3 on the 5 point Likert scale) showed a higher tendency of significant turnover intention (F = 4.40, p < 0.01) and more confident work value (F = 15.292, p < 0.001) when comparing those who had lower expectations. There were significant differences in work value, job satisfaction, turnover intention, and expectation to be a nutrition teacher depending on career length and employment status of dietitians. This study revealed that school food service dietitians have favorable expectations to be nutrition teachers with high work value.

Hybrid Value Predictor in Wide-Issue Superscalar Processor (슈퍼스칼라 프로세서에서 명령 윈도우 크기에 따른 혼합형 값 예측기)

  • Jeon, Byoung-Chan;Choi, Gyoo-Seok
    • The Journal of the Institute of Internet, Broadcasting and Communication
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    • v.9 no.2
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    • pp.97-103
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    • 2009
  • In this paper, the performance of a hybrid value predictor according to the instruction fetch rate on window size superscalar processors is evaluated. In general, the data dependency relations of instructions are increased with the number of the fetched instructions. Therefore, it is expected that the performance of a value predictor will be higher when the instruction fetch rate is increased. The performance is studied for the machine with collapsing buffer and he one with trace cache as an instruction fetch mechanism. As a result of experiment, it is showed that the performance effect of a value predictor is higher as the instruction fetch rate of instruction window size, IPC, predict rate on apply with non-tc and tc is increased.

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The Effect of Information Security Certification Announcement on the Market Value of Firms (기업의 정보보호 인증이 기업가치에 미치는 영향)

  • Park, Jaeyoung;Jung, Woo-Jin;Kim, Beomsoo
    • Journal of Information Technology Services
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    • v.15 no.3
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    • pp.51-69
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    • 2016
  • Recently, many Korean firms have suffered financial losses and damaged firm's trust due to information security incidents. Hence, a lot of firms have realized the importance of the information security. In particular, the demand for information security certification has increased. This study examined the effect of information security certification using the event study methodology. Our research shows that the announcement of the information security certification significantly influences the market value of the corresponding firm. The certified firms rise, on average, o.4993% (-2 day), 0.5462% (+1 day) of their market value. Further, we found that the financial sector in our data showed a 1.4% higher abnormal returns than the nonfinancial sector. On the other hand, whether a firm first acquired the information security certification is not significant. Our paper presents that it is possible to analyze the effect of the information security certification using the event study. We are expected to be used in making a decision for the investment of information security. Also, our results indicate that the firm which have acquired the information security certification should actively announce that fact.

New Food Code Numbering for Calculation of Nutritive Value (영양가 계산을 위한 새로운 식품코드화)

  • 김상애
    • Journal of the Korean Society of Food Science and Nutrition
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    • v.23 no.5
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    • pp.774-783
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    • 1994
  • New food item numbers for each food included in Food Composition Table in Korea (4th ed) and other Food Composition Table. New Food item numbers classified to base 5-basic food groups and its classification was as follows. 1 As for the 1569 food items , they were classified as 20 food sub-groups(82 food sorts) for 5-basic food groups. 2. As for the 82 food sorts, they were individually classified with raw prepared , fat sugar content and arranged in order, ㄱ , ㄴ and ㄷ and made the item number. 3. The data set of nutritive value of food with new item numbers was accessed on computer files. 4. The Food & Description Table was drafted as 1572 food items were arranged in order, ㄱ, ㄴand ㄷ. 5. The Food Table arranged in the order or each nutrient content (energy, carbohydrate, protein , etc....) was drafted. Clipper program for computing nutritive values and tabulation of nutrients of daily diet were coded by applying new food item numbers. It is expected that should utilized as a basic data of computer program for calculating the nutritive value of diet, evaluating the nutrition and counseling the nutrition.

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A Methodology for Estimating the Value of Interclass Equity Improvement by Railway Operations (철도 운영의 계층 간 형평성 향상 가치 산정방안 연구)

  • Jang, Su-Eun;Jeong, Gyu-Hwa;Kim, Seong-Su
    • Journal of Korean Society of Transportation
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    • v.25 no.6
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    • pp.121-128
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    • 2007
  • This paper suggests a way of estimating the value of interclass equity improvement by railway operations. Equity is understood in this paper in the context of a mobility gap between classes. The value of the reduced mobility gap by railway operations is interpreted as an increase of social equity. In particular, the unit value of equity improvement by rail services is quantified based on the amount of fare reduction through public service obligations. The difference in the surplus calculation between elastic and inelastic demands relative to the reduction is also discussed. The result of this study is expected to be helpful of performing more cautious appraisal for rail investment schemes.

Bioconversion of Dairy Processing Waste into Value-Added Chemicals

  • Kim, Dong-Shik
    • Journal of Environmental Policy
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    • v.2 no.2
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    • pp.65-79
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    • 2003
  • More than 145 million tons of liquid whey is produced world-wide as dairy processing waste per year, and half of it is discarded without proper treatment. Due to its high nutrient value, the environmental impact can be significant. Bioconversion of cheese whey can provide an effective way to reduce the waste and, at the same time, generate economically attractive value-added chemicals. In this study, cheese whey was fermented with P. acidipropionici to produce propionic acid which has a high market value for chemical and pharmaceutical industries. In order to specifically enhance propionic acid production, acetic acid production was suppressed using o-iodosobenzoic acid as an enzyme inhibitor. When grown in the presence of the inhibitor, propionic acid production rate increased by a factor of 2 while acetic acid production rate decreased by a factor of 3. Furthermore, when 0.3 mM of o-iodosobenzoic acid was used, the incipient stage(creeping growth period) was considerably reduced. Therefore, the inhibitor helps the cells begin to grow earlier and speed up the production of propionic acid. Although the production rate of propionic acid effectively increased, the final concentration(or production yield) remained unchanged due to product inhibition. Methods that can reduce product inhibition are being tested combined with o-iodosobenzoic acid to optimize both the production rate and yield. The results are expected to be informative for controlling the other byproducts for other applications.

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