• Korea Journal of Hospital Management
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• v.5 no.2
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• pp.40-58
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• 2000

Nurses are medical personnel, who play a key role in supporting patient care, so it is important to supply them adequately in balance with ever increasing medical demand. But there appears severe shortage of nurses in some hospitals because of their uneven distribution, especially in small sized-hospitals and rural-hospitals. As nationwide distorted distribution of nurses in Korea is just like what monopsony model(a kind of market structure model) tells us, it is attempted to explain this situation of nurse labor market in Korea on the basis of monopsony model and presented in this paper. Specifically, determinants of nurse wage and the level of their relative employment were examined, and monopsony impact on their wage and the level of relative employment controlling those determinants were studied. Major results of this study arc as follows. The most important determinant of nurse wage level in this study was the wage level of a local community where each hospital located Hospital owner's characteristics an educational function of each hospital were also important factors. With these factor controlled, it was found that monopsony power of each hospital was negativel associated with nurse wage level as expected. 1% increase in monopsony power of hospital(measured by Herfindah-Hirschman Index) reduced nurse wage by $5,674{\sim}19,19$ won(in Korean currency). With regard to the level of relative employment, the most important determinant wa the capacity for supplying nurses of the local community. Again, hospital owner characteristics and educational function of each hospital were also important. With these factors controlled, it was found that monopsony power of each hospital was negative associated with the number of nurses per bed, as expected. 1% increase in monopsony power of each hospital(again measured by Herfindah-Hirschman Index) reduced the number of nurses per 100 bed as much as $0.46{\sim}0.67$. In conclusion. structural factors of nurse labor market influence the instability of nurse labor supply in Korea. Further consideration for these market structural characteristics needed for policy making related to nurse resource allocation.

• Journal of the military operations research society of Korea
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• v.23 no.2
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• pp.72-84
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• 1997

In this paper, we consider an economic order quantity(EOQ) and an optimal discount pricing policy for the monopsony related to the weapon system acquisition. In the monopsony case, a buyer wishes to maximize the profit. However, a seller wants to minimize the total inventory related cost since a buyer can determine the purchase price for the product. We develop a generalized version of EOQ model for the monopsony, including one seller-one buyer model and two seller-one buyer model. A model of buyer reaction to any given pricing scheme is developed to show that there exits a unified pricing policy which motivates the buyer to increase its ordering quantity per order, thereby reducing the joint(buyer and seller) ordering and holding costs in the system.

• Journal of Korean Academy of Nursing Administration
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• v.6 no.1
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• pp.147-159
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• 2000

This paper studied the factors that influence on RN staffing level in the 43 Specialized general hospitals. Market structure was analysed using the monopsony model. The degree of competition was estimated by Herfindal Index and market was defined as Great medical zone. As the result of the estimation, in the more competitive hospital market hospitals employed the higher level of RN staffing, so monopsony model was supported. Hospitals with above 1001bed employed more RN than hospitals with below 700bed did. Hospital type, hospital union and the number of medical doctor did not affect the level of RN staffing. There was positive correlation between the level of RN staffing and the number of nurse's aid. The structure of RN market in Specified general hospitals was proved monopsony market, it seems that government regulation will be needed to improve social efficiency and equity.

• The Journal of Small Business Innovation
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• v.20 no.2
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• pp.51-66
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• 2017

Online and wireless communications have dramatically changed the contents industry marketplace. Content transactions are now instantaneous as distribution channels move from the 'mart' to smart platforms, creating opportunities for content creators large and small. Yet with opportunity comes the threat of imbalance in the industry ecosystem. In order to ensure the health and diversity of an industry that relies so heavily on the welfare of small creative enterprises, it is essential to establish rules for the fair transaction of content rights. Several structural forces may work against such rules: first, the industry consists of a large number of small distributor intermediary businesses (e.g. major publishers); second, end distributors (e. g. platforms) maintain a superior, monopsony position; and third, economic valuation of content is difficult. In terms of acquisition business model, rights transactions can be classified into three general models: (1) license model, (2) original acquisition model, and (3) monopsony model. This study explores the publishing industry in detail, considering key statutes and their operation across the models. From analysis of Korea and the US statutes and case law, and decisions of the Fair Trade Commission (FTC) of Korea, we offer evaluation criteria for discerning between fair and unfair content rights transactions. We further recommend industry practice that may enhance the likelihood for fair content rights transactions, and thus a thriving publishing ecosystem.

• Perspectives in Nursing Science
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• v.7 no.1
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• pp.23-35
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• 2010

Purpose: The purpose of this paper is to analyze the demand and supply of advanced practice nurses and suggest alternative benefit strategies in the Korean national health insurance. Methods: A revised demand & supply model was used to estimate the excess supply of APNs, and policy making process and key actors in the Korean health insurance were considered to develop a political approach to the APN issue. Results: The social demand for APNs is currently estimated to be less than 50% of its supply and the APN education program fell into difficulties in recruits. No reimbursement mechanism for APN's services in the national health insurance has given no economic incentive to hospital managers who have monopsony power in nursing labor market, which has caused the demand shortage of APNs in hospital industry. Payment for APN's services recognized as one of the most significant strategies to booster the social demand for APN's services should be carefully designed and implemented in the national health insurance. In line with this, key actors in health insurance policy decision-making include government, national assembly, labor unions, NGOs, civic groups, medical associations, and academia. Conclusion: The basic researches for APN's activities and cost-effectiveness analysis in clinical settings are required to support the strategies aforementioned. Constructing a policy network among key actors is able to make the payment strategy feasible, which will increase the socal demand for APNs.

• Journal of Digital Convergence
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• v.16 no.10
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• pp.145-153
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• 2018

Recently the Korean society has suffered severe conflicts over the rate of increase in the minimum wage, while academics have failed to provide appropriate standards through reliable research. Recent foreign studies using natural experimentation or meta-regression analysis show that the increase in minimum wage has little effect on employment. Domestic studies are not yet numerous in number, and they present different conclusions on employment effects depending on the data used, sample period, and research model. To properly assess the employment effects of the minimum wage, future studies should minimize measurement errors in minimum wage dataset, and appropriately consider the endogenous change of minimum wage, economic situation and trends of employment changes. It is also necessary to utilize natural experiment methods before and after the increase of the minimum wage.