• Journal of Korea Society of Digital Industry and Information Management
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• v.12 no.3
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• pp.299-309
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• 2016

This study proposed a logistics plan for sending supply to be distributed to areas other than producing areas to wholesalers and allocating supply to be distributed to areas near producing areas to local distribution center in the vicinity instead of shipping the entire quantity to wholesalers for fruits auction to increase the competitive edge of the domestic fruits and vegetables logistics market in the ear of infinite competition. A video auction-based short distance division logistics operation model was developed to enhance competitiveness related to the circulation of fruits and vegetables, reduce logistics costs, and rationalize logistics by distributing the items sent to wholesalers through field auction and the shipments at local distribution center to neighboring areas through video auction connected to wholesalers real-time. The study especially came up with a logistics rationalization plan by examining and analyzing the stages and costs of transportation between producing areas and wholesalers on the circulation routes of fruits.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.11 no.9
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• pp.4197-4219
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• 2017

Cloud computing is a new service to provide dynamic, scalable virtual resource services via the Internet. Cloud market is available to multiple cloud computing resource providers and users communicate with each other and participate in market transactions. However, since cloud computing is facing with more and more security issues, how to complete the allocation process effectively and securely become a problem urgently to be solved. In this paper, we firstly analyze the cloud resource allocation problem and propose a mathematic model based on combinatorial double auction. Secondly, we introduce a trust evaluation mechanism into our model and combine genetic algorithm with simulated annealing algorithm to increase the efficiency and security of cloud service. Finally, by doing the overall simulation, we prove that our model is highly effective in the allocation of cloud resources.

• KDI Journal of Economic Policy
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• v.36 no.4
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• pp.1-32
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• 2014

Auction is widely used in allocation and procurement of resources due to its desirable properties: efficiency and revenue maximization. It is well-known, however, that auction may fail to achieve efficiency when allocative externalities exist. Such a result may happen in the auction of the resources that are very scarce, for example, radio spectrum. This is because allocation of the resources has effects on competition of the firms in the aftermarket, and thus a firm that utilizes the resources less efficiently may make a higher bid to lessen competition. This paper shows first that efficient allocation may not be achieved by auction even when the number of bidders is 2, while it is shown in the literature that auction may result in inefficient allocation when the number of bidders is greater than or equal to 3. There exist 2 firms, who make a bid to win the scarce resources that increase the value or decrease the production cost of their own product. After the auction ends, the firms engage in Bertrand competition on the Hotelling line. Inefficient allocation may happen even under the second-price auction rule, and it happens only when the firms are different in the initial value or the initial cost of their products as well as in the value of the auctioned resources. The firm who has been the leader loses a large portion of the market if it fails to win the auction, and thus makes a high bid even when the other firm can use the resources more efficiently. Allocative efficiency Pareto improves when the smaller firm's bid counts more than the leader's bid. This paper suggests a modified rule that the smaller firm wins the auction when its bid multiplied by some constant is greater than the leader's bid. The multiplier can be calculated from the market shares. It is equal to 1 when the two firms are the same, and is increasing in the leader's market share. Allocation is efficient in a strictly larger set of parameters under the modified rule than under the standard second-price auction rule.

• Industrial Engineering and Management Systems
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• v.8 no.4
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• pp.201-212
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• 2009

This study analyzed the structure of pricing in the automobile auction market by using real trade data. We focused on the bidding behavior of bidders and the contract price of exhibits. First, we proposed a relational framework among exhibits, number of bidders, and the contract price. Next, we utilized a neural network model to estimate the number of bidders and the contract price. Subsequently, we investigated the relationship between the number of bidders and the contact price, and evaluated our method through an analysis that employed verifying data. Lastly, we listed our suggestions for bidding in auction markets.

• Review of Culture and Economy
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• v.21 no.1
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• pp.85-104
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• 2018

The studies related to the price of artworks have focused on how factors that are determined on production level, such as artists and the artwork materials of the studies, affect the artwork prices. As 'Dansekhwa' is in the spotlight within local Korean art auction matket, this study would like to analyze the trend of the price changes of 'Dansekhwa' with its growing popularity among the public. We have estimated the price changes based on 4,199 auction data of 20 artists with top 20 auction prices selected by the Korean Art Price Appraisal Association, between 2005 and 2016. Also, in order to compare and analyze the price changes of the 'Dansekhwa' products, we have classified the 20 artists into groups of Dansekhwa and non-Dansekhwa. Starting from 2013, when Dansekhwa has first appeared, we applied the Difference in the Difference model(DiD) to estimate the result. As a result, the difference between two groups showed 71% of price difference due to the increase in popularity of Dansekhwa. This result proves that recognition level has an important role for increase in price of an artwork. Moreover, the fact that the formalized style of Dansekhwa has linked to the appreciation of the price means that production of information could play an essential role in growth of art market. As recognition level of Korean artists and their artworks is considerably low within the local art market, putting in the effort to increase the popularity of artworks among the public might be a helpful way to magnify the potential demand.

• Journal of the Korean Operations Research and Management Science Society
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• v.31 no.4
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• pp.105-123
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• 2006

Previous research on two-sided markets has, for the most part, concentrated on indirect network externalities between buyers alto sellers. This paper considers direct competition effect among sellers and among buyers as well as indirect network externalities. We develop an analytic model of C2C e-marketplaces and examine whether a monopolistic incumbent could successfully deter new entry into its market. We find that the effect of the number of sellers or buyers on the price of goods depends on whether sellers have decided to sell the goods using an auction or fixed pricing rule and on the characteristics of the goods. We argue that when the effect of the number of sellers on the price of goods is significantly larger than that of buyers, there is a high possibility of entry. In particular, we show that entry becomes more difficult to deter as fixed-price format is adopted more frequently or the proportion of collectables is relatively low.

• The Journal of Society for e-Business Studies
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• v.14 no.4
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• pp.133-148
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• 2009

This study has tried to suggest a new model that can effectively redistribute the tickets in the online ticket resale market, while suggesting a new allocation mechanism based on an agent negotiation. To this end, this study has analyzed an auction in the online ticket resale market through Game theory. As a result of new agent mechanism, it has been proved that the price stability of ticket resale market leads to an increase. An agent negotiation helps to stabilize the ticket prices that are usually inclined to rise at auction, benefiting all the participants in the negotiations, consequently showing a Pareto solution. Especially, a framework for a negotiation process is suggested and domain and processes ontology are designed interrelatedly. With this modeling, a possibility of Ontology based agent negotiation is suggested.

• The Journal of Fisheries Business Administration
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• v.5 no.1
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• pp.9-42
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• 1974

Korea is a peninsular country surrounded by seas on three sides, and the fishing industry has carried out the service of suppling to the people with important anima protein. The distribution of fishery products has very complicated structures, because the production is in charge of small producers scattering along the coast all over the country, while consumpstion is made by separate homes in areas away from producing district. The relation between these two factors the structures make very complicated. The most typical and special structures of fishery distridution are distinguished in two, that is, one is landing market, the other is inland market. Landing markets have been monopolized by fishermen's cooperatives, providing with landing facilities and building sites. Fish markets played not only an important role in the landing, but distribution and price determination of catches by auction or tender. Inland markets are two types of wholesale market in consuming center, one is the terminal market for urban consumers, the other type is the local market for rural consumers. Fundamental functions of landing markets are gathering, assessment, and distribution functions. Gathering function is in charge of wholesaler in fishery cooperative. Gathering amounts are equal to gathering capacity of wholesaler and transact ability of licensed dealers as shown below model. Gathering amount=f.gathering capacity(=pre price.landing facility.account of wholesaler.distance of fishing ground.conveniency purchasing.home port)=fㆍ transact ability of licensed dealers≒f.population or port, and table 1 indicates these relationship. Assessment and distribution functions are in charge of licensed dealers in consumption side. Assessment function should bring the value in production activity through the auction between the cooperative seller and the licensed dealer as buyer. For fair trade transaction in auction, the free competition is supposed to be a prerequisite among the licensed dealers. The ideal condition for free competition is sameness in the scale of buying amount by licensed delaers, but it is almost impossible to attain its goal in actual marketing.

• Journal of Information Processing Systems
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• v.5 no.2
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• pp.87-96
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• 2009

Grid computing is a new technology which involves efforts to create a huge source of processing power by connecting computational resources throughout the world. The key issue of such environments is their resource allocation and the appropriate job scheduling strategy. Several approaches to scheduling in these environments have been proposed to date. Market driven scheduling as a decentralized solution for such complicated environments has introduced new challenges. In this paper the bidding problem with regard to resources in the reverse auction resource allocation model has been investigated and the new bidding strategies have been proposed and investigated.

• Journal of Intelligence and Information Systems
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• v.21 no.1
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• pp.161-177
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• 2015

With the rapid evolution of technology, the size, number, and the type of databases has increased concomitantly, so data mining approaches face many challenging applications from databases. One such application is discovery of fraud patterns from agricultural product wholesale transaction instances. The agricultural product wholesale market in Korea is huge, and vast numbers of transactions have been made every day. The demand for agricultural products continues to grow, and the use of electronic auction systems raises the efficiency of operations of wholesale market. Certainly, the number of unusual transactions is also assumed to be increased in proportion to the trading amount, where an unusual transaction is often the first sign of fraud. However, it is very difficult to identify and detect these transactions and the corresponding fraud occurred in agricultural product wholesale market because the types of fraud are more intelligent than ever before. The fraud can be detected by verifying the overall transaction records manually, but it requires significant amount of human resources, and ultimately is not a practical approach. Frauds also can be revealed by victim's report or complaint. But there are usually no victims in the agricultural product wholesale frauds because they are committed by collusion of an auction company and an intermediary wholesaler. Nevertheless, it is required to monitor transaction records continuously and to make an effort to prevent any fraud, because the fraud not only disturbs the fair trade order of the market but also reduces the credibility of the market rapidly. Applying data mining to such an environment is very useful since it can discover unknown fraud patterns or features from a large volume of transaction data properly. The objective of this research is to empirically investigate the factors necessary to detect fraud transactions in an agricultural product wholesale market by developing a data mining based fraud detection model. One of major frauds is the phantom transaction, which is a colluding transaction by the seller(auction company or forwarder) and buyer(intermediary wholesaler) to commit the fraud transaction. They pretend to fulfill the transaction by recording false data in the online transaction processing system without actually selling products, and the seller receives money from the buyer. This leads to the overstatement of sales performance and illegal money transfers, which reduces the credibility of market. This paper reviews the environment of wholesale market such as types of transactions, roles of participants of the market, and various types and characteristics of frauds, and introduces the whole process of developing the phantom transaction detection model. The process consists of the following 4 modules: (1) Data cleaning and standardization (2) Statistical data analysis such as distribution and correlation analysis, (3) Construction of classification model using decision-tree induction approach, (4) Verification of the model in terms of hit ratio. We collected real data from 6 associations of agricultural producers in metropolitan markets. Final model with a decision-tree induction approach revealed that monthly average trading price of item offered by forwarders is a key variable in detecting the phantom transaction. The verification procedure also confirmed the suitability of the results. However, even though the performance of the results of this research is satisfactory, sensitive issues are still remained for improving classification accuracy and conciseness of rules. One such issue is the robustness of data mining model. Data mining is very much data-oriented, so data mining models tend to be very sensitive to changes of data or situations. Thus, it is evident that this non-robustness of data mining model requires continuous remodeling as data or situation changes. We hope that this paper suggest valuable guideline to organizations and companies that consider introducing or constructing a fraud detection model in the future.