• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.69
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• pp.63-84
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• 2016

Article 77 of CISG requires an aggrieved party, the promisee, claiming damages to take reasonable measures to mitigate losses. The reasonable measures required hereunder are limited to those that can be expected under the circumstances having regard to the principle of good faith. When taking such measures, the aggrieved party must do so within a reasonable time under the circumstances. The expenses incurred in taking such measures are recoverable from the promisor. If the aggrieved party fails to do so, the damages recoverable from the promisor are reduced in the amount the loss that should have been mitigated. The aggrieved party's duty to mitigate damages applies to claim for damages only. That is, the violation of this duty should not be invoked against other remedies available under CISG, such as the right to claim specific performance, the right to claim for the price or the right of reduction of price. In practice, under the provision of article 77, the aggrieved party, the seller or the buyer, is often required to enter into a substitute transaction as a measure to mitigate losses and many cases involving a substitute transaction are internationally reported. Therefore this paper intends to provide a certain understanding of the aggrieved party's duty to take measures to mitigate losses based on such cases reported.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.55
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• pp.3-32
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• 2012

CISG article 74 establishes the general formula applicable in all cases where an aggrieved party is entitled to recover damages. It provides that damages for breach of contract comprise all losses, including loss of profits, caused by the breach, to the extent that these losses were foreseeable by the breaching party at the time the contract was concluded. An aggrieved party may claim under article 74 even if entitled to claim under article 75 or 76. The latter articles explicitly provide that an aggrieved party may recover additional damages under article 74. Articles 75 and 76 apply only in cases where the contract has been avoided. Article 75 measures damages concretely by reference to the price in a substitute transactions, while article 76 measures damages abstractly by reference to the current market price. Article 76 (1) provides that an aggrieved party may not calculate damages under article 76 if it has concluded a substitute transaction under article 75. If however, an aggrieved party concludes a substitute transaction for less than the contract quantity, both articles 75 and 76 may apply. Pursuant to article 77, damages recoverable under articles 74, 75 or 76 are reduced if it is established that the aggrieved party failed to mitigate losses. The reduction is the amount by which the loss should have been mitigated. Article 78 entitles a party to interest on the price and any other sum that is in arrears.

• KDI Journal of Economic Policy
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• v.43 no.2
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• pp.23-51
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• 2021

The persistence of the employment shock by COVID-19 has various policy implications during the pandemic and beyond it. After evaluating the impact of the health crisis at the individual level, this study decomposes employment losses into persistent and transitory components using the observed timing of the three major outbreaks and subsequent lulls. The estimation results show that while face-to-face services were undoubtedly hit hard by the COVID-19 crisis, the sectoral shock was less persistent for temporary jobs and self-employment. Permanent jobs in the hard-hit sector showed increasingly large persistent losses through the recurring crises, indicating gradual changes in employer responses. The persistent job losses were concentrated on young and older workers in career transitions, whose losses are likely to have long-term effects. These results suggest that targeted measures to mitigate the persistent effects of the employment shock should take priority during the recovery process.

• Journal of Power Electronics
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• v.19 no.1
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• pp.68-78
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• 2019

The emergence of high voltage conversion applications has resulted in a trend of using semiconductor device series associations. Series associations allow for operation at blocking voltages, which are higher than the nominal voltage for each of the semiconductor devices. The main challenge with these topologies is finding a way to guarantee the voltage balance between devices in both blocking and switching transients. Most of the methods that have been proposed to mitigate static and dynamic voltage unbalances result in increased losses within the device. This paper introduces a new series stack topology, where the voltage unbalances are reduced. This in turn, mitigates the switching losses. The proposed topology consists of a circuit that ensures the soft switching of each device, and one auxiliary circuit that allows for switching energy recovery. The principle for the topology operation is presented and experimental tests are performed for two modules. The topology performs excellently for switching transients on each of the devices. The voltage static unbalances were limited to 10%, while the activation/deactivation delay introduced by the lower module IGBT driver takes place in the dynamic unbalances. Thus, the switching losses are reduced by 40%, when compared to hard switching configurations.

• Journal of the Korean Physical Society
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• v.73 no.9
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• pp.1356-1361
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• 2018

Replacing conventional Si diodes with SiC diodes in Si insulated gate bipolar transistor (IGBT) modules is advantageous as it can reduce power losses significantly. Also, the fast switching nature of the SiC diode will allow Si IGBTs to operate at their full high-switching-speed potential, which at present conventional Si diodes cannot do. In this work, the electrical test results for Si-IGBT/4HSiC-Schottky hybrid substrates (hybrid SiC substrates) are presented. These substrates are built for two voltage ratings, 1.7 kV and 3.3 kV. Comparisons of the 1.7 kV and the 3.3 kV Si-IGBT/Si-diode substrates (Si substrates) at room temperature ($20^{\circ}C$, RT) and high temperature ($H125^{\circ}C$, HT) have shown that the switching losses in hybrid SiC substrates are miniscule as compared to those in Si substrates but necessary steps are required to mitigate the ringing observed in the current waveforms. Also, the effect of design variations on the electrical performance of 1.7 kV, 50 A diodes is reported here. These variations are made in the active and termination regions of the device.

• Journal of the Korean Society of Hazard Mitigation
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• v.8 no.3
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• pp.95-103
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• 2008

Knowledge of expected losses in terms of physical, economic, and social damages due to a potential earthquake will be helpful in the effort to mitigate seismic hazards. In this study, losses due to a magnitude 6.7 scenario earthquake in the Gyeongju area have been estimated using the deterministic method in HAZUS. The attenuation relation proposed by Sadigh et al.(1997) for site classes B, C, and D, which are assumed to represent the characteristics of the strong-motion attenuation in the Korean Peninsula, has been applied. Losses due to the hypothetical earthquake have been also calculated using other attenuation relationships to examine their roles in the loss estimation. The findings indicate differences among the estimates based on various attenuation relationships. Estimated losses of the Gyeongju area by a scenario earthquake using HAZUS should be seriously considered in the planning of disaster response and hazard mitigation.

• East Asian Economic Review
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• v.24 no.3
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• pp.207-235
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• 2020

Acknowledging that individuals dislike having low relative income renders trade less attractive when seen as a technology that integrates two economies by merging separate social spheres into one. We define a "trembling trade" as a situation in which gains from trade are less than losses in relative income, with the result that global social welfare is reduced. We show that a "trembling trade" can arise even when trade is more gainful in four ways: through trade the absolute income of everyone increases, the income gap in both economies is reduced, as is the income gap between the trading economies. However, trade brings populations, economies, or markets that were not previously connected closer together in social space. As a consequence, separate social spheres merge, and people's social space and their comparators are altered. Assuming that people like high (absolute) income and dislike low relative income, the aggregate increase in unhappiness caused by the trade-induced escalation in relative deprivation can result in a negative overall impact of trade on (utilitarian-measured) social welfare, if the absolute income gains are not large enough to mitigate the relative income losses.

• Proceedings of the Korea Water Resources Association Conference
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• 2023.05a
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• pp.349-349
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• 2023

In recent years, urban floods have become more frequent, causing significant harm to society and resulting in substantial losses to the national economy and people's lives and property. To assess the impact of floods on people's safety and property in Seoul, annual precipitation data from 1980 to 2020 was analyzed for return periods of 5, 10, 20, 50, and 100 years. A rainfall runoff simulation model for Seoul was established using HEC-HMS and HEC-RAS models. The study revealed that at a 5-year return period, water began to accumulate in Seoul, but it was not severe. However, at a 10-year return period, the water accumulation was relatively serious, and inundation began to occur. At a 20-year return period, there was serious water accumulation and inundation in Seoul. During a 50-year return period, Seoul suffered from severe inundation in commercial areas, resulting in substantial losses to the local economy. The findings indicate that Seoul City faces high flood risks, and measures should be taken to mitigate the impact of floods on the city's residents and economy.

• Asian-Australasian Journal of Animal Sciences
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• v.14 no.1
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• pp.77-81
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• 2001

The effects of dietary protein and lysine levels on lactating multiparous sows and litter performance were studied. Sixty-two crossbred multiparous sows ($Landrace{\times}Yorkshire$) were used. Thirty-three and twenty-nine sows were studied in their second parity and third parity respectively. The three dietary treatments were: (1) the control diet containing 15% CP and 0.75% lysine, (2) a diet containing 13% CP and 0.75% lysine (0.60% natural+0.15% synthetic), and (3) a diet containing 13% CP and 0.60% lysine. They were fed twice daily and allowed ad libitum access to food and water throughout a 28 day lactation from parturition until weaning. The results of this experiment showed that body weight and backfat losses of the sows from farrowing to weaning were significantly affected (p<0.01) by reducing dietary protein. Neither average daily feed intake nor weaning to estrus interval of sows were significantly different among treatments. Supplementing lower dietary protein with synthetic lysine could mitigate backfat losses, but could not prevent body weight losses in lactating multiparous sows. A corn-soybean meal diet containing 13% crude protein and 0.60% lysine did not significantly affect litter size and survival rate of weanling piglets compared with the 15% crude protein diet. There was a tendency towards decreased piglet weight at weaning (p<0.10) and reduced daily gain of piglets (p<0.11) when the multiparous sows were fed the 13% protein diet during lactation. We found a severe loss of body weight and backfat when reducing dietary protein for lactating multiparous sows.

• Management & Information Systems Review
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• v.32 no.1
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• pp.259-272
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• 2013

This Paper document that managers' cash compensation is more sensitive to negative stock return than positive stock return. Also, this paper analyse that managers' cash compensation react symmetrically to accounting earnings and losses. Since stock returns include both unrealized gains and unrealized losses, we expect managers' cash compensation to be less sensitive to stock returns when returns contain unrealized gains(positive returns) than when returns contain unrealized losses(negative returns). But accounting earnings exclude unrealized gains and include unrealized losses, so managers' cash compensation will react symmetrically to accounting earnings and losses. Analyzing 5,815 firm-year data for 2000-2011, we find that managers' cash compensation reacts asymmetrically to stock retruns whereas managers' cash compensation reacts symmetrically to accounting performance. This finding is consistent with boards of directors seeking to mitigate ex post settling up problem that would arise of managers' cash compensation was equally sensitive to positive and negative stock return.