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A Study on the Strategic Trading Models with Broker and Overconfident Informed Trader (브로커와 과신정보거래자가 존재하는 전략적 거래모형에 관한 연구)

  • Kim, Sung-Tak
    • Korean Business Review
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    • v.13
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    • pp.133-157
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    • 2000
  • This paper investigate to construct a new strategic trading model which contains the broker and overconfident informed trader. Assuming more favorable situation for the broker, this paper construct a two period model. At period I overconfident informed trader and liquidity traders participate to trade. At this time the broker does not execute transaction of his own account. he only transfer customer's order by commission. At period 2, the broker identifies informed trade of previous period and he execute the trade of his own account with liquidity traders. The effects of overconfidence to the expected transaction volume and expected transaction profit, and price variability are summarized as follows: (i) As the degree of overconfidence increases, the expected transaction volume of informed trader increases. Under the restriction of moderate degree of overconfidence, it also increases the expected transaction volume of broker. In sum, overconfidence behavior of informed trader increases the expected transaction volume. (ii) As the degree of overconfidence increases, the both expected profit of informed trader and broker decrease. (iii) As the degree of overconfidence increases, unconditional variances of price for each periods increase. And as the degree of overconfidence increases, the informativeness of prices for each period increase. Finally, some limitations of this paper and direction for further research were suggested.

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Distribution of Vascular Plants at the Ecological Landscape Conservation Area Heoninlleung in Seoul (서울시 생태.경관보전지역 헌인릉의 관속식물 분포)

  • Kim, Kun-Ok;Hong, Sun-Hee;Lee, Yong-Ho;Na, Chae-Sun;Kang, Byeung-Hoa;Son, Yo-Whan
    • Korean Journal of Plant Resources
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    • v.23 no.1
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    • pp.60-78
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    • 2010
  • To clarify the distribution of vascular plants and their usefulness in Heoninlleung, Ecological Landscape Conservation Areas of Seoul, we investigated it from April, 2006 to June, 2009. Total 313 taxa; 68 families, 191 genera, 264 species, 41 varieties and 8 forma were distributed in Heoninlleung. Among them, 37 taxa were highly abundant everywhere (3A), 16 taxa were highly abundant locally (3B), 70 taxa were moderately abundant everywhere (2A), 96 taxa were common in certain regions locally (2B), 9 taxa were rare but observed everywhere with low frequency (2A) and 85 taxa were rare and observed locally (1B). The economic plants were 293 taxa. There were 156 taxa of edible source, 223 taxa of medicinal source, 141 taxa of ornamental source, 69 taxa of pastoral source, 12 taxa of industrial, and 8 taxa of timber source. Twelve Korean endemic plants were collected. Based on the list of rare plants by the Korea National Arboretum and Ministry of Environment, 2 rare species were found. The specific species of I~V grades by phytogeography were 19 taxa. And twentyfour taxa of naturalized plant species were distributed. Naturalization Index was 7.7% and Urbanization Index was 8.4% in the investigated area.

Anti-Stress Effect of Punica granatum L. Extract against Sleep Deprivation-Induced Impairment (석류 열수 추출물의 수면박탈을 유도한 Rat 모델에서의 항스트레스 효과)

  • Na, Ju-Ryun;Kim, Sunoh;Jo, Ara;Bae, Donghyuck;Oh, Kyo-Nyeo;Kim, Yong Jae;Lee, Yoo-Hyun;Jun, Woojin
    • Journal of the Korean Society of Food Science and Nutrition
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    • v.45 no.11
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    • pp.1533-1543
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    • 2016
  • The anti-stress effects of Punica granatum L. (family Lythraceae, PG) on $H_2O_2$/corticosterone (CORT)-induced stress in cells and sleep-deprived rats were investigated. The PG extract showed neuroprotective effects in SH-SY5Y cells against $H_2O_2$/CORT-induced stress. Sleep deprivation led to behavioral, hormonal, and biochemical alterations in the animal model. The effects of P. granatum on physiological, behavioral, and biochemical parameters aggravated by sleep deprivation were investigated. Sleep deprivation impaired physiological (survival, body weight, and drowsiness scores) and behavioral (rotarod, passive avoidance, hot hyperalgesia, and Y maze) parameters as well as biochemical factors (cortisol, serotonin, dopamine, testosterone, and growth factor I contents in serum). These parameters were significantly recovered by PG extract in a concentration-dependent manner. The PG extract also enhanced catalase, superoxide dismutase, and non-enzymatic antioxidative activities such as glutathione compared to sleep-deprived rats. On the basis of these results, our findings suggest that Punica granatum prevents impairment of body functions induced by sleep deprivation and related oxidative damage.

A Fast 4X4 Intra Prediction Method using Motion Vector Information and Statistical Mode Correlation between 16X16 and 4X4 Intra Prediction In H.264|MPEG-4 AVC (H.264|MPEG-4 AVC 비디오 부호화에서 움직임 벡터 정보와 16~16 및 4X4 화면 내 예측 최종 모드간 통계적 연관성을 이용한 화면 간 프레임에서의 4X4 화면 내 예측 고속화 방법)

  • Na, Tae-Young;Jung, Yun-Sik;Kim, Mun-Churl;Hahm, Sang-Jin;Park, Chang-Seob;Park, Keun-Soo
    • Journal of Broadcast Engineering
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    • v.13 no.2
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    • pp.200-213
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    • 2008
  • H.264| MPEG-4 AVC is a new video codingstandard defined by JVT (Joint Video Team) which consists of ITU-T and ISO/IEC. Many techniques are adopted fur the compression efficiency: Especially, an intra prediction in an inter frame is one example but it leads to excessive amount of encoding time due to the decision of a candidate mode and a RDcost calculation. For this reason, a fast determination of the best intra prediction mode is the main issue for saving the encoding time. In this paper, by using the result of statistical relation between intra $16{\times}16$ and $4{\times}4$ intra predictions, the number of candidate modes for $4{\times}4$ intra prediction is reduced. Firstly, utilizing motion vector obtained after inter prediction, prediction of a block mode for each macroblock is made. If an intra prediction is needed, the correlation table between $16{\times}16$ and $4{\times}4$ intra predicted modes is created using the probability during each I frame-coding process. Secondly, using this result, the candidate modes for a $4{\times}4$ intra prediction that reaches a predefined specific probability value are only considered in the same GOP For the experiments, JM11.0, the reference software of H.264|MPEG-4 AVC is used and the experimental results show that the encoding time could be reduced by 51.24% in maximum with negligible amounts of PSNR drop and bitrate increase.

Effect of Soil Characteristics and Fertilizers Application on Fresh Root Yield of Aralia continentalis K. -I. Survey on Cultivation Methods and Soil Characteristics in the Main Producting Districts (독활(獨活) (Aralia continentalis K.)주산지(主産地) 토양특성(土壤特性)과 시비양분(施肥養分)이 근경수량(根莖收量)에 미치는 영향(影響) -I. 재배법(栽培法) 실태(實態) 및 토양특성(土壤特性) 조사(調査))

  • Oh, Dong-Hoon;Han, Soo-Gon;Kim, Gap-Cheol;Na, Jong-Seong;Park, Keon-Ho
    • Korean Journal of Soil Science and Fertilizer
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    • v.27 no.1
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    • pp.27-32
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    • 1994
  • These studies were Conducted to survey cultivation methods, and to analyze soil chemical properties for stable production of Aralia continentalis K., a promising medicinal crop, in the main producting districts. Aralia continentalis K. was cultivated with planting budstocks in distances of $90cm{\times}60cm$ for 3~4 years in the same field, and application rates were N 10~31 kg/10a and P, K 8~17/10a using inorganic fertilizer, that is compound fertilizer(21-17-17) for basal dressings and urea for topdressings. Most of all, the soil surveyed was coarse loamy class which was well drained and soil depth is 50~150cm in the valleys. Soil pH was low, and content of organic matters and av. $P_2O_5$ was abundant but that of exchangeable cation such as Ca, Mg, K was deficient. The relationship between growth characteristics and weight of fresh root was positive correlation in the order of No. of root, stem width, No. of node and branch, plant height and root width. On the path coefficiant analysis, the relationship between content of soil K, Ca and root yield was more apparent than other chemical properties.

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Clinical Evaluation of Guided Bone Regeneration Using 3D-titanium Membrane and Advanced Platelet-Rich Fibrin on the Maxillary Anterior Area (상악 전치부 3D-티타늄 차폐막과 혈소판농축섬유소를 적용한 골유도재생술의 임상적 평가)

  • Lee, Na-Yeon;Goh, Mi-Seon;Jung, Yang-Hun;Lee, Jung-Jin;Seo, Jae-Min;Yun, Jeong-Ho
    • Implantology
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    • v.22 no.4
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    • pp.242-254
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    • 2018
  • The aim of the current study was to evaluate the results of horizontal guided bone regeneration (GBR) with xenograf t (deproteinized bovine bone mineral, DBBM), allograf t (irradiated allogenic cancellous bone and marrow), titanium membrane, resorbable collagen membrane, and advanced platelet-rich fibrin (A-PRF) in the anterior maxilla. The titanium membrane was used in this study has a three-dimensional (3D) shape that can cover ridge defects. Case 1. A 32-year-old female patient presented with discomfort due to mobility and pus discharge on tooth #11. Three months after extracting tooth #11, diagnostic software (R2 GATE diagnostic software, Megagen, Daegu, Korea) was used to establish the treatment plan for implant placement. At the first stage of implant surgery, GBR for horizontal augmentation was performed with DBBM ($Bio-Oss^{(R)}$, Geistlich, Wolhusen, Switzerland), irradiated allogenic cancellous bone and marrow (ICB $cancellous^{(R)}$, Rocky Mountain Tissue Bank, Denver, USA), 3D-titanium membrane ($i-Gen^{(R)}$, Megagen, Daegu, Korea), resorbable collagen membrane (Collagen $membrane^{(R)}$, Genoss, Suwon, Korea), and A-PRF because there was approximately 4 mm labial dehiscence after implant placement. Five months after placing the implant, the second stage of implant surgery was performed, and healing abutment was connected after removal of the 3D-titanium membrane. Five months after the second stage of implant surgery was done, the final prosthesis was then delivered. Case 2. A 35-year-old female patient presented with discomfort due to pain and mobility of implant #21. Removal of implant #21 fixture was planned simultaneously with placement of the new implant fixture. At the first stage of implant surgery, GBR for horizontal augmentation was performed with DBBM ($Bio-Oss^{(R)}$), irradiated allogenic cancellous bone and marrow (ICB $cancellous^{(R)}$), 3D-titanium membrane ($i-Gen^{(R)}$), resorbable collagen membrane (Ossix $plus^{(R)}$, Datum, Telrad, Israel), and A-PRF because there was approximately 7 mm labial dehiscence after implant placement. At the second stage of implant surgery six months after implant placement, healing abutment was connected after removing the 3D-titanium membrane. Nine months after the second stage of implant surgery was done, the final prosthesis was then delivered. In these two clinical cases, wound healing of the operation sites was uneventful. All implants were clinically stable without inflammation or additional bone loss, and there was no discomfort to the patient. With the non-resorbable titanium membrane, the ability of bone formation in the space was stably maintained in three dimensions, and A-PRF might influence soft tissue healing. This limited study suggests that aesthetic results can be achieved with GBR using 3D-titanium membrane and A-PRF in the anterior maxilla. However, long-term follow-up evaluation should be performed.

The manage of a public office who 'Junsangseo(典牲署)' and Official Road(官路) of lower officials(參下官) at the 17th - 18th century (17~18세기 전생서(典牲署)의 관직 운영과 참하관(參下官)의 관로(官路))

  • Na, young hun
    • (The)Study of the Eastern Classic
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    • no.69
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    • pp.45-82
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    • 2017
  • This paper aims at concrete examination of the 'Official Road(官路)' of the late Joseon Dynasty through government administration of the 17th - 18th century 'Junsangseo(典牲署)'. Until now, the study of the central political system in the Joseon Dynasty was mainly studied by the politically important bureaucrat 'Dangsanggwan(堂上官)', and even if he studied the 'Official Road(官路)', he was a student from the a graduate of Mungwa(文科) and the 'Clean and imfortant Official(淸要職)' connected with it It was examined mainly. As a result, this research attempts to elucidate the routes of 'non - Clean and imfortant Official(非淸要職)' who have not been studied so far. However, it is difficult to deal with all the 'lower officials(參下官)' reaching 263 in total, so it was targeted at the 'Junsangseo(典牲署)' where the 'List of official(先生案)' exists in the 17th - 18th century. In chapter 2, we examined the historical value of 'List of official(先生案)' and were able to secure the confidence of the materials. In Chapter 3, we specifically examined the origins of officials from the 'Junsangseo(典牲署)', the official route, and the occupation. As a result, the 'Junsangseo(典牲署)' 'lower officials(參下官)' was predominantly from the 'Munum(門蔭)'. In addition, I confirmed that I was stepping on a public road that roughly promoted one rank. The number of days in office has also been promoted satisfying the court occupation days. Although this is an analysis limited to 'Junsangseo(典牲署)', it seems that 'lower officials(參下官)' of 'Junsangseo(典牲署)' had gone through routes and routes that were roughly similar to the 'lower officials' of the main office. If we can assume this, we can understand the character of the late Joseon Dynasty 'lower officials(參下官)' by understanding the character of 'lower officials(參下官)' of 'Junsangseo(典牲署)'. To declare this, more case analysis is necessary, and it is necessary to convert a lot of 'List of official(先生案)' data scattered nationwide into DB.

Immunostimulatory and Anti-Obesity Activity of Lonicera insularis Nakai Extracts in Mouse Macrophages RAW264.7 Cells and Mouse Adipocytes 3T3-L1 Cells (섬괴불나무(Lonicera insularis Nakai) 추출물의 면역자극 및 항비만 활성)

  • Yu, Ju Hyeong;Yeo, Joo Ho;Choi, Min Yeong;Lee, Jae Won;Geum, Na Gyeong;An, Mi-Yun;Jeong, Jin Boo
    • Korean Journal of Plant Resources
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    • v.35 no.4
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    • pp.417-427
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    • 2022
  • In this study, we investigated in vitro immuno-stimulatory and anti-obesity activity of fruit (LIF), leaves (LIL) and stems (LIS) from Lonicera insularis Nakai in mouse macrophages RAW264.7 cells and mouse pre-adipocytes 3T3-L1 cells. LIF, LIL and LIS increased the production of immunostimulatory factors such as nitric oxide (NO), inducible nitric oxide synthase (iNOS), interleukin-1β (IL-1β), cyclooxygenase-2 (COX-2), tumor necrosis factor-α (TNF-α) and activated phagocytosis in RAW264.7 cells. Inhibition of toll-like receptor 2/4 (TLR2/4) partly blocked LIF, LIL and LIS mediated production of immunostimulatory factors. In addition, inhibition of mitogen-activated protein kinases (MAPK) signaling attenuated the production of immunostimulatory factors induced by LIF, LIL and LIS. Based on these results of this study, LIF, LIL and LIS is thought to activate macrophages the production of immunostimulatory factors and phagocytosis through toll-like receptor 2/4 (TLR2/4) and MAPKs signaling pathway. In anti-obesity study, LIF reduced the lipid accumulation in 3T3-L1 cells. LIF increased the protein phosphorylation expressions such as AMP-activated protein kinase (AMPK), hormone sensitive lipase (HSL), adipose triglyceride lipase (ATGL) related to the lipolysis of the adipocytes. In addition, LIF increased the expression of proteins involved in energy metabolism and brown adipose tissues differentiation such as peroxisome proliferator-activated receptor gamma coativator 1α (PGC-1α) and PR domain-containing16 (PRDM16). These results suggest that LIF is involved in lipid accumulation inhibition through expressing the proteins such as lipolysis and differentiation of white adipocytes to brown adipocytes.

Behavior Analysis of Concrete Structure under Blast Loading : (I) Experiment Procedures (폭발하중을 받는 콘크리트 구조물의 실험적 거동분석 : (I) 실험수행절차)

  • Yi, Na Hyun;Kim, Sung Bae;Kim, Jang-Ho Jay;Choi, Jong Kwon
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.29 no.5A
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    • pp.557-564
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    • 2009
  • In recent years, there have been numerous explosion-related accidents due to military and terrorist activities. Such incidents caused not only damages to structures but also human casualties, especially in urban areas. To protect structures and save human lives against explosion accidents, better understanding of the explosion effect on structures is needed. In an explosion, the blast overpressure is applied to concrete structures as an impulsive load of extremely short duration with very high pressure and heat. Generally, concrete is known to have a relatively high blast resistance compared to other construction materials. However, information and test results related to the blast experiment of internal and external have been limited due to military and national security reasons. Therefore, in this paper, to evaluate blast effect on reinforced have concrete structure and its protective performance, blast tests are carried out with $1.0m{\times}1.0m{\times}150mm$ reinforce concrete slab structure at the Agency for Defence Development. The standoff blast distance is 1.5 m and the preliminary tests consists with TNT 9 lbs and TNT 35 lbs and the main tests used ANFO 35 lbs. It is the first ever blast experiment for nonmilitary purposes domestically. In this paper, based on the basic experiment procedure and measurement details for acquiring structural behavior data, the blast experimental measurement system and procedure are established details. The procedure of blast experiments are based on the established measurement system which consists of sensor, signal conditioner, DAQ system, software. It can be used as basic research references for related research areas, which include protective design and effective behavior measurements of structure under blast loading.

Changed in Growth and Chemical Properties of Plastic Film House by Earthworm Cast on Gymnocalycium mihanovichii var. 'Ihong' (비모란 선인장(Gymnocalycium mihanovichii var. 'Ihong') 시설재배에서 지렁이분변토시용에 따른 생육특성 및 토양 화학성 변화)

  • Choi, I-Jin;Cho, Sang-Tae;Kim, Young-Mun;Kim, Mi-Seon;Lee, Sang-Kweon
    • Korean Journal of Organic Agriculture
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    • v.22 no.4
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    • pp.731-742
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    • 2014
  • In the current study, we investigated effects of a combination of earthworm casting, environment-friendly by-product fertilizer, and cultivation soil of Gymnocalycium mihanovichii in a heavy fertilizing culture on diameter, height, numbers of tubercles, and chemical properties of soil thereby elucidating optimal mixture ratio for securing production as well as providing nutrients throughout cultivation period. The Gymnocalycium mihanovichii var 'Ihong', one of grafted cactus for export (Rootstock: 9 cm, Scion: $1.5{\times}1.3cm$ grafted cactus) was cultured in plastic houses of Agricultural Technology Center located in Naegok-dong, Seocho-gu, Seoul from June, 2013 through December, 2013. For the control group, a mixture of sand and fertilizer (50:50) was used as this ratio is widely utilized in farmhouses. In contrast, a variety mixtures of sand and earthworm casting that was produced with food wastes was compared; the mixture ratios were 80:20, 60:40, 40:60, 20:80, and 0:100 and pH for these mixtures were found to be similar each other (ranging between 7.1 and 7.4) which is in an appropriate range (pH 6.5-7.5) for cultivation of G. mihanovichii. The organic content was increasing along with increasing contents of earthworm casting ratio while it was lower than the treatment practice group (32-43 mg/kg vs. 55 mg/kg). The content of exchangeable cation was also increasing as the ratio of earthworm casting was elevated; although levels of $K^+$, $Na^+$, and $Mg^{2+}$ were lower than the treatment practice group, the level of $Ca^{2+}$ was higher ($9.1cmol^+/kg$ and $11.5-33.7cmol^+/kg$ in the treatment practice group and the earthworm casting group, respectively). Three months after grafting, diameters of G. mihanovichii were compared with the control group; consequently, there was a significant difference noted in between the earthworm casting group and the control group (31.39 mm vs. 32.46-37.59 mm). After 5 months, growth characteristics of G. mihanovichii were evaluated. Similarly, the diameter of G. mihanovichii was significantly increasing in the group with higher ratio of earthworm casting treatment (32.63 mm vs. 32.49-37.59 mm). The height of tubercles was 2.63 mm in the control group while it was significantly elevating along with the ratio of earthworm casting mixture. The more numbers of tubercles, the more incomes for farm-houses; as results, higher mixture ration of earthworm casting resulted more numbers of tubercles compared to the control group (2.7 vs. 3.2-8.3 ea). In particular, in the earthworm casting groups with 80% and 100% ratios, the numbers of tubercles were 6.2 and 8.3 ea, respectively, which is 2.5 times more than those of the control group. These results indicate that earthworm casting treatment may be utilized in G. mihanovichii farming houses for short term production of tubercles. In the group with 40% and 60% of earthworm casting mixture, the numbers of tubercles were found to be 4.5 and 4.8 ea, respectively which is higher than the control group as well; in these groups, there were no issues with soil drainage as well as moss formation. Given the analysis results of growth characteristics of G. mihanovichii, it was concluded that 40% and 60% of earthworm casting mixture might be the optimal ratios.