• Title/Summary/Keyword: General Equilibrium Theory

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Analysis on Incomplete Information in an Electricity Market using Game Theory (게임이론을 이용한 전력시장 정보의 불완비성 해석)

  • Lee, Kwang-Ho;Shin, Jae-Hong
    • The Transactions of the Korean Institute of Electrical Engineers A
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    • v.55 no.5
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    • pp.214-219
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    • 2006
  • Oligopoly differs from perfect competition and monopoly in that a firm must consider rival firms' behavior to determine its own best policy. This interrelationship among firms is the issue examined in this paper. In the oligopoly market, the complete information market means that each producer has full information about itself, the market, and its rivals. That is, each producer knows the market demand function, its own cost function and the cost functions of rivals. On the other hand, the incomplete information market means that in general each producer lacks full information about the market or its rivals. Here, we assume that each firm doesn't know the cost functions and the strategic biddings of its rivals. The main purpose of this paper is to analyze firm' strategic behaviors and equilibrium in an electricity market with incomplete information. In the case study, the complete information market and the incomplete market are compared at the Nash Equilibrium from the viewpoints of market price, transaction quantities, consumer benefits, and Social Welfare.

An Astronomer's View on the Current College-Level Textbook Descriptions of Tides

  • Ahn, Kyung-Jin
    • Journal of the Korean earth science society
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    • v.30 no.5
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    • pp.671-681
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    • 2009
  • In the equilibrium theory of tides by Newton, tide on the Earth is a phenomenon driven by differential gravity contributed both by the Sun and the Moon. Due to the direct link of the generic tidal effect to the oceanic tides, college students in the earth science education department are exposed to this theory through oceanography lectures as well as astronomy lectures. Common oceanography textbooks adopt a non-inertial reference frame fixed to the Earth in which the fictitious, centrifugal force appears. This has a potential risk to provide misconceptions among students in various aspects including the followings: 1) this is how Newton originally derived the equilibrium theory of tides, and 2) the tide is a phenomenon appearing only in rotating systems. We show that in astronomy, a much simpler description, which employs the inertial frame, is generally used to explain tides and thus causes less confusion. We argue that the description used in astronomy is preferable both in the viewpoints of simplicity and ease of interpretation. Moreover, on a historical basis, an inertial frame was adopted by Newton in Principia to explain tides. Thus, the description used in astronomy is consistent with Newton's original approach. We also present various astrophysical tides which do not comply with the concept of centrifugal force in general. We therefore argue that the description used in oceanography should be compensated by that in astronomy, due to its complexity, historical inconsistency and limited applicability.

Solution method for the classical beam theory using differential quadrature

  • Rajasekaran, S.;Gimena, L.;Gonzaga, P.;Gimena, F.N.
    • Structural Engineering and Mechanics
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    • v.33 no.6
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    • pp.675-696
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    • 2009
  • In this paper, a unified solution method is presented for the classical beam theory. In Strength of Materials approach, the geometry, material properties and load system are known and related with the unknowns of forces, moments, slopes and deformations by applying a classical differential analysis in addition to equilibrium, constitutive, and kinematic laws. All these relations are expressed in a unified formulation for the classical beam theory. In the special case of simple beams, a system of four linear ordinary differential equations of first order represents the general mechanical behaviour of a straight beam. These equations are solved using the numerical differential quadrature method (DQM). The application of DQM has the advantages of mathematical consistency and conceptual simplicity. The numerical procedure is simple and gives clear understanding. This systematic way of obtaining influence line, bending moment, shear force diagrams and deformed shape for the beams with geometric and load discontinuities has been discussed in this paper. Buckling loads and natural frequencies of any beam prismatic or non-prismatic with any type of support conditions can be evaluated with ease.

Three-dimensional and free-edge hygrothermal stresses in general long sandwich plates

  • Ahmadi, Isa
    • Structural Engineering and Mechanics
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    • v.65 no.3
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    • pp.275-290
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    • 2018
  • The hygrothermal stresses in sandwich plate with composite faces due to through the thickness gradient temperature and (or) moisture content are investigated. The layer-wise theory is employed for formulation of the problem. The formulation is derived for sandwich plate with general layer stacking, subjected to uniform and non-uniform temperature and moisture content through the thickness of the plate. The governing equations are solved for free edge conditions and 3D stresses are investigated. The out of plane stresses are obtained by equilibrium equations of elasticity and by the constitutive law and the results for especial case are compared with the predictions of a 3D finite element solution in order to study the accuracy of results. The three-dimensional stresses especially the free edge effect on the distribution of the stresses is studied in various sandwich plates and the effect of uniform and non-uniform thermal and hygroscopic loading is investigated.

Effect of Carrier Solutions on Particle Retention in Flow Field-Flow Fractionation

  • 문명희
    • Bulletin of the Korean Chemical Society
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    • v.16 no.7
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    • pp.613-619
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    • 1995
  • The influence of carrier solutions on particle retention was studied by varying surfactants and ionic strength in flow field-flow fractionation. Experiments were made with five different submicron polystyrene latex standards at three different types of surfactants and seven different ionic strengths. Departures in particle retention from the general theory were observed. At low ionic strength, it is shown that migrating sample zone is clearly lifted away from the ideal equilibrium height and that the repulsive interaction dominates between the particle and the channel wall. As ionic strength increases up to a certain level, particle retention becomes closer to the general theory. Further increase in ionic strength is shown to prolong the retention. An optimum regime of ionic strength is also suggested with the proper choice of surfactants.

A Dualistic Development in Korean Industrialization (한국 산업화의 이중구조)

  • Lee, Jai Min
    • International Area Studies Review
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    • v.16 no.3
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    • pp.27-51
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    • 2012
  • Among the hypotheses regarding the internal process of industrialization, the debates about 'labor-surplus' model have been intensive. The basic idea of this neoclassical theory is that industrial development is brought about by the transfer of the unlimited cheap labor to the modern sector, and thus, under the labor-surplus situation labor-using technologies should be used for industrialization. Fei and Rannis attempted to confirm this theory by applying it to the Japanese economy. The purpose of this paper is to study whether the theory can be applied to Korean economic development. The neoclassical dualistic model which was designed by Kelly and Williamson was utilized. Simulating Korea's major economic variables for the period of 1965-1992 by using computable general equilibrium (CGE) model, we found that there are significant differentials between the simulation and the actual data. It suggests that Korea's economic development has not followed the neoclassical path -- creation of comparative advantage on the basis of market force.

Understanding and application of the social system based on the system thinking : Focus on the cooperation model using Cellular Automata (시스템적 사고에 기반한 사회 시스템의 이해와 응용 : Cellular Automata를 이용한 협력모형을 중심으로)

  • 고길곤
    • Korean System Dynamics Review
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    • v.1 no.1
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    • pp.133-157
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    • 2000
  • This paper deals with the social system from the point of system thinking consisting the fundamental construct of system dynamics. The Bertalanffy's general system theory, having been criticized because of its ambiguity, and the complex science theory, emerging system theory, are integrated by using the system thinking which is characterized with three concepts, 'feedback thinking', 'dynamic thinking', 'operational thinking'. In the integration, system thinking suggests the dynamic pattern of the social system have not only an equilibrium status but also complex status. The science of complexity gives an implication to system dynamics the important of the uncertainty and complexity if we interpret the social system as an open system. To show more concrete description, I simulate the cooperation model based on the iterated prisoner dilemma. The simulation results show the diverse patterns of cooperation and betrayal. Especially the sensitivity of initial payoff will cause the chaotic strategic landscapes as the game gose on. These results mean that we should not give the hasty prescription to control social system artificially. Because social system retains the self-organizing force in itself.

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Fundamental theory of curved structures from a non-tensorial point of view

  • Paavola, Juha;Salonen, Eero-Matti
    • Structural Engineering and Mechanics
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    • v.7 no.2
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    • pp.159-180
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    • 1999
  • The present paper shows a new non-tensorial approach to derive basic equations for various structural analyses. It can be used directly in numerical computation procedures. The aim of the paper is, however, to show that the approach serves as an excellent tool for analytical purposes also, working as a link between analytical and numerical techniques. The paper gives a method to derive, at first, expressions for strains in general beam and shell analyses, and secondly, the governing equilibrium equations. The approach is based on the utilization of local fixed Cartesian coordinate systems. Applying these, all the definitions required are the simple basic ones, well-known from the analyses in common global coordinates. In addition, the familiar principle of virtual work has been adopted. The method will be, apparently, most powerful in teaching the theories of curved beam and shell structures for students not familiar with tensor analysis. The final results obtained have no novelty value in themselves, but the procedure developed opens through its systematic and graphic progress a new standpoint to theoretical considerations.

Stability Analysis of the Reinforced Embankment on Soft Foundations using the Limit Equilibrium Method (한계평형법에 의한 연약지반 보강성토의 안정해석)

  • 고남영;고홍석
    • Magazine of the Korean Society of Agricultural Engineers
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    • v.37 no.5
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    • pp.101-110
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    • 1995
  • The use of geotextile as reinforced materials in Soil structures has become widespread throughout the world. Geotextile reinforcement has been used in retaining walls, slope of embankment and especially soft foundation, etc. In the past, however, its design and construction have been performed empirically. In this study, to investigate of the effect of geotextiles reinforced slope of the embankment on a very soft foundation, a limit equilibrium analysis program calculating the safety factor of embankment on very soft foundation was developed. The study was focussed on such factors as type of geotextile, tensile strength, amount of reinforcement, and inclination of embankment. And the 4imit equilibrium analysis program was written on the basis of Low's slope stability theory with some modification. The following conclusions were drawn from this study. (1) The orientation of reinforcement can be assumed either horizontal or tangential to the slip circle. The factor of safety with tangential reinforcement is larger than that with the horizontal reinforcement. (2) In general, the factor of safety increases, as the slope reduces. However, it is preferable to use geotextiles with higher tensile strength rather than to reduce the slope of the embankment, because it is difficult to adjust the slope as desired. (3) The factor of safety obtained by numerical computation is affected only by the tensile strength, but not by the type of the geotextile.

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A Development of Analytical Strategies for Elastic Bifurcation Buckling of the Spatial Structures (공간구조물의 탄성 분기좌굴해석을 위한 수치해석 이론 개발)

  • Lee, Kyung Soo;Han, Sang Eul
    • Journal of Korean Society of Steel Construction
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    • v.21 no.6
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    • pp.563-574
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    • 2009
  • This paper briefly describes the fundamental strategies--path-tracing, pin-pointing, and path-switching--in the computational elastic bifurcation theory of geometrically non-linear single-load-parameter conservative elastic spatial structures. The stability points in the non-linear elasticity may be classified into limit points and bifurcation points. For the limit points, the path tracing scheme that successively computes the regular equilibrium points on the equilibrium path, and the pinpointing scheme that precisely locates the singular equilibrium points were sufficient for the computational stability analysis. For the bifurcation points, however, a specific procedure for path-switching was also necessary to detect the branching paths to be traced in the post-buckling region. After the introduction, a general theory of elastic stability based on the energy concept was given. Then path tracing, an indirect method of detecting multiple bifurcation points, and path switching strategies were described. Next, some numerical examples of bifurcation analysis were carried out for a trussed stardome, and a pin-supported plane circular arch was described. Finally, concluding remarks were given.