• Korean System Dynamics Review
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• v.11 no.2
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• pp.103-118
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• 2010

To reduce costs in general process, product quality degradation or lack of services are appeared. To improve these problems, dramatical solution of 'Freeconomics (Free+Economics) are discussed. Freconomics means, producers provide their products and services free of charge but they get customer's interests and reputations. Based on these customer's interests and reputations, producers generate profits with other services or related products. In this paper, we discuss about Green IT strategic plan with the management technique of Freeconomics. Green IT is called as Next-Generation growth engine to develop economy, so every country and industry hopes to develop it. With Freeconomcs, customers could get more quickly and much better use the Green IT products. So it is expected to spread of Green IT with Freeconomics as industry, country and customers are all satisfied.

• Korean Management Science Review
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• v.33 no.4
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• pp.77-89
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• 2016

Due to recent proliferation of the mobile shopping channels, customers increasingly tend to purchase using online channel while experiencing physical products in offline shops. This phenomenon requires traditional offline retailers to consider integrating online channels. In this study, we propose strategic options for the traditional offline retailers regarding the online channel integration, and provide corresponding decision models to maximize the expected profits. We also investigate how the strategic options vary with the product characteristics, by categorizing the products based on inventory cost, demand uncertainty, and fitness to the online channels. By analyzing numerical examples we illustrate how the best online channel integration strategy should be differentiated depending on the product categories.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.58 no.8
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• pp.1496-1503
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• 2009

The United Nations Framework Convention on Climate Change (UNFCCC) is an international environmental treaty to stabilize greenhouse gas concentrations in the atmosphere. In order to fulfil the commitments of the countries in an economically efficient way, the UNFCCC adapted the emission trading scheme in the Kyoto Protocol. If the UNFCCC's scheme is enforced in the country, considerable changes in electric power industry are expected due to the imposed greenhouse gas emission reduction. This paper proposes a game theoretic model of the case when generation companies participate in both competitive electricity market and emission market simultaneously. The model is designed such that generation companies select strategically between power quantity and greenhouse gas reduction to maximize their profits in both markets. Demand function and Environmental Welfare of emission trading market is proposed in this model. From the simulation results using the proposed model the impact of the emission trading on generation companies seems very severe in case that the emission prices are significantly high.

• Journal of the Korean Data and Information Science Society
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• v.25 no.4
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• pp.745-753
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• 2014

Parrondo paradox is the counter-intuitive situation where individually losing games can combine to win or individually winning games can combine to lose. In this paper, we compare the history-dependent Parrondo games and the space-dependent Parrondo games played cooperatively by the multiple players. We show that there is a probability region where the history-dependent Parrondo game is a losing game whereas the space-dependent Parrondo game is a winning game.

• Journal of Information Technology Services
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• v.12 no.2
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• pp.85-101
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• 2013

The wide spread of smartphones and the growth of the number of internet users are reshaping the SNS (Social Network Service). Merging into other service areas and creating new business models with high profits, SNS is no more a service simply providing personal connections. Now SNS has positioned itself as a service platform. SNG (Social Network Game) is a new outcome utilizing SNS as a game platform and showing a rapid growth rate in a short period of time. The number of SNG users is expected to increase steadily. In this study, we examine whether SNG user motivations lead to flow experience and future intention to use. For that purpose, we conducted a survey with smartphone users. The results indicate that flow experience functions as a mediator and user motivations indirectly affect intention to use through flow experience. This paper concludes with discussions on findings and suggestions for future research.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.13 no.21
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• pp.101-110
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• 1990

This study presents a two-level inventory distribution system with one-upper level facility(warehouse) in first echelon and n-lower level facilities(stores) in the second echelon. The demand process at the upper level is induced by the aggregated backorder processes of n independently operated lower level facilities in parallel. For the upper level and the lower level we find the decision points and the distribution function of the aggregate backorders from n-stores. Optimal allocation units and expected system profits are obtained. If the product is of great enough importance to the customer, echelon structure will include a shadow installation. Also, this case is analyzed. Numerical examples are presented to illustrate the results for each case.

• Journal of the Korean Operations Research and Management Science Society
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• v.36 no.3
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• pp.27-43
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• 2011

This paper investigates properties of the newsvendor problem under a schedule involving progressive multiple discounts compared with the standard newsvendor problem under a no-discounts schedule. Unlike most conventional approaches using the criticial fractile to analyze the retailer and/or supplier behavior(s) in the newsvendor problem, our approach uses riskless profit. From the properties revealed through a series of computational experiments, two conjectures regarding the relationship between the expected profits of both newsvendor problems as a generalization over Khouja's argument (1995) are raised. Those conjectures encourage newsvendors who may face budget or warehouse capacity restriction to use the extended model under a multiple-discounts schedule rather than the standard model with no-discounts schedule because they apply for every order quantity as well as the optimal order quantity. In addition to the conjectures, some insightful results are found to justify the implementation of a multiple-discounts schedule from the computational experiments and a new interpretation for implementation of a multiple-discounts schedule that has not been addressed in Khouja is provided.

• The Journal of Fisheries Business Administration
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• v.1 no.1
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• pp.1-18
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• 1970

The fishermen around fishing villages have organized the Eo Chon Gae, a co-operative organization based on the Fisheries Co-operative Law. The Eo chon Gae plays a vital role in the fishing village community, and the common economic, administrative and social profits are expected by members. The members of the Eo Chon Gae must work together in a common coastal fishing ground, this fishing ground is jointly owned by the community, and the members have to conduct the Eo chon Gae jointly for their common profit. This system, as mentioned above, is called the Eo Chon Gae, which is generally called a fishing village community, or a fishing administrative community. The purpose of these theses is to consider what kind of character and principles the Eo Chon Gae has. The contents of these theses are divided into six parts: 1. The various concepts of the fishing administrative community 2. The progress of the Eo Chon Gae. 3. The organization of the Eo chon Gae. 4. The purpose of the Eo chon Gae. 5. The work of the Eo Chon Gae. 6. Types of the Eo Chon Gae.

• Journal of Institute of Control, Robotics and Systems
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• v.12 no.12
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• pp.1169-1172
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• 2006

The prices of chemical products are fluctuated by several factors. The chemical companies can't predict and be ready to all of these changes, so they are exposed to the risk of a profit fluctuation. But they can reduce this risk by making a well-diversified product portfolio. This problem can be thought as the optimization of the product portfolio. We assume that the profits come from the 'spread' between a naphtha and a chemical product. We calculate a mean and a variation of each spread and develop an automatic module to calculate the optimal portion of each product. The theory is based on the Markowitz portfolio management. It maximizes the expected return while minimizing the volatility. At last we draw an investment selection curve to compare each alternative and to demonstrate the superiority. And we suggest that an investment selection curve can be a decision-making tool.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.60 no.2
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• pp.266-272
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• 2011

Real Time Pricing(RTP) is used not only to stabilize the price volatility in electricity market, but to hedge the price risk for Load Serving Entity(LSE). This paper presents an efficient method to reduce the risk of the price volatility in real-time electricity market. For designing the RTP, load patterns of customer are calculated by applying the demand elasticity and customer's utility is also analyzed to compute the RTP revenue through the risk-attribute of the LSE. In the end, the distribution of the LSE's profits can be evaluated to lead the optimal RTP value, depending on the level of customer's participation. Results from the case study based on PJM data are reported to illustrate the proposed method.