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Analysis of Hierarchical Competition Structure and Pricing Strategy in the Hotel Industry

  • BAEK, Unji;SIM, Youngseok;LEE, Seul-Ki
    • The Journal of Asian Finance, Economics and Business
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    • v.6 no.4
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    • pp.179-187
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    • 2019
  • This study aims to investigate the effects of market commonality and resource similarity on price competition and the recursive consequences in the Korean lodging market. Price comparison among hotels in the same geographic market has been facilitated through the development of information technology, rendering little search cost of consumers. While the literature implies the heterogeneous price attack and response among hotels, a limited number of empirical researches focus on the asymmetric and recursive pattern in the competitive dynamics. This study empirically examines the price interactions in the Korean lodging market based on the theoretical framework of competitive price interactions and countervailing power. Demonstrating superiority to the spatial lag model and the ordinary least squares in the estimation, the results from spatial error model suggest that the hotels with longer operational history pose an asymmetric impact on the price of the newer hotels. The asymmetry is also found in chain hotels over the independent, further implying the possibility of predatory pricing. The findings of this study provide the evidence of a hierarchical structure in the price competition, with different countervailing power by the resources of the hotels. Theoretical and managerial implications are discussed, with suggestions for future study.

Environmental awareness and economical profits of replacing gas turbines in gas compressor stations: A case study of Polkalleh station in Iran

  • Sadrnejad, Amin;Noorollahi, Younes;Sadrnejad, Tohid
    • Environmental Engineering Research
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    • v.21 no.2
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    • pp.132-139
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    • 2016
  • In early 90s the worldwide awareness about the energy crisis and global warming had been increased and emission reduction (by improving energy efficiency), as well as increasing the capacity of clean and renewable energies, showed themselves as the most important steps towards the sustainable development approach. However, investigations on Iran's environmental situation show huge decline in recent decades and apparently there is no sense of urgency about these issues through the vision of Iranian politicians. In this article the idea of replacing the old gas turbines of Polkalleh natural gas compressor station - as one of the main compressor stations of Iran - with newer and more efficient gas turbines is evaluated, emphatically for reducing greenhouse gases emissions and their environmental costs and decreasing natural gas consumption as well. Clearly such idea is costly, but analyzing its economic impacts, huge declines in annual costs and greenhouse gases emissions can be seen as well. So an investment about $95 million can decrease 40% of Polkalleh compressor station annual costs, 25% of natural consumption and 30% of $CO_2$ and $NO_x$ emissions. Besides the simple payback period of this investment is about 2.5 years from the cut-expenses of annual costs.

Flow Visualization in Realistic Arterial Bypass Graft Model

  • Singh, Megha;Shin, Se-Hyun
    • International Journal of Vascular Biomedical Engineering
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    • v.3 no.1
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    • pp.1-5
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    • 2005
  • Background: Coronary atherosclerosis artery disease is the leading cause of morbidity and mortality. Coronary artery bypass grafting (CABG) which utilizes the saphenous vein graft, has helped in alleviating the suffering of these patients. Newer techniques are being developed to improve upon the techniques. Still there is significant number of failures, leading to re-grafting or re-vascularization. Some studies have helped in identifying the high and low shear stress regions. Further studies based on their realistic models are required. Material, methods and results: we developed the realistic model of fully blocked right coronary with bypass graft placed at angle of $5^0$ with curvature similar to that of artery. Pulsatile flow of birefringent solution through this model by polarized light was visualized. The images of complete flow field in the model were recorded and analyzed. Regions of high flow disturbances which are prone to further changes are identified. Existence of recirculation in the blocked coronary may initiate new blood-tissue interactions deleterious to bypass graft. Conclusion: Our study shows that by selecting the procedure to place bypass graft at minimum angle with curvature similar to that of artery and smooth sutures may improve the life span of the graft. This study also identified that coronary blocked regions contributing by recirculation flow at the proximal and distal regions of bypass which may require further studies.

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Model development in freshwater ecology with a case study using evolutionary computation

  • Kim, Dong-Kyun;Jeong, Kwang-Seuk;McKay, Robert Ian (Bob);Chon, Tae-Soo;Kim, Hyun-Woo;Joo, Gea-Jae
    • Journal of Ecology and Environment
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    • v.33 no.4
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    • pp.275-288
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    • 2010
  • Ecological modeling faces some unique problems in dealing with complex environment-organism relationships, making it one of the toughest domains that might be encountered by a modeler. Newer technologies and ecosystem modeling paradigms have recently been proposed, all as part of a broader effort to reduce the uncertainty in models arising from qualitative and quantitative imperfections in the ecological data. In this paper, evolutionary computation modeling approaches are introduced and proposed as useful modeling tools for ecosystems. The results of our case study support the applicability of an algal predictive model constructed via genetic programming. In conclusion, we propose that evolutionary computation may constitute a powerful tool for the modeling of highly complex objects, such as river ecosystems.

A Study on Pleat Expression Shown in Greek Sculpture (그리스 조각에 나타난 주름 표현에 관한 연구)

  • Lee, Eui-Jung;Kang, Kyung-Ae
    • Journal of the Korea Fashion and Costume Design Association
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    • v.15 no.4
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    • pp.157-173
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    • 2013
  • In the pleats of the statue in the ancient Greece, a vivid expression is included about clothing, which has organic relationship with a human body. This study examined about diverse expressions of pleats that were shown in the Greek sculpture, based on understanding about a pleat meaning and function, and clothes. As a result, the clothes, which were shown in the statue in the ancient Greece, were reflecting spirit and fashion of the times. The pleats, which were expressed in clothing, are closely related to a human body and simultaneously are those that a sculptor showed own creative intention in a work by reflecting a historical demand, thereby having become an important element of dominating the image in the whole clothing. Also, a change and development in expression were being progressed according to a flow of each period. Amidst what expressiveness based on lines are excellent, the unity and the dynamic formative characteristic were forming the mainstream. The design-based elements related to these characteristics are judged to possibly give many inspirations to designers in the modern fashion design sphere, which is mixed diverse styles, and are considered to be able to be helpful even for establishing newer and more creative design.

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Commercialization of Microencapsulated Electrophoretic Displays

  • McCreary, Michael
    • 한국정보디스플레이학회:학술대회논문집
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    • 2006.08a
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    • pp.524-524
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    • 2006
  • For decades, the pursuit of volume commercialization of low-power reflective displays with a paper-like look has been an unfulfilled dream. While steady technical progress was made throughout the late 1990s, there were still no volume products incorporating electronic paper displays (EPD) on the market. Now, microencapsulated electrophoretic display technology, also called electronic ink, has moved into volume production with a frontplane laminate (FPL) display component called E Ink Imaging Film™. This film is coated roll to roll on a flexible plastic substrate and integrated into a display module. Today, all-plastic segmented displays are being shipped as well as displays with electronic ink FPL being driven by glass TFT backplanes. A roadmap to active matrix flexible electrophoretic displays is being enabled by rapid technical progress on flexible TFT backplanes by a variety companies. Each of the approaches to these backplanes and flexible active matrix displays has different advantages for the various market segments being pursued including large format flexible displays for e-news and other reader applications, rollable displays for compact readers, and high resolution small format displays up to 400 ppi that can have fully integrated drive electronics to reduce size and drive down costs. Backplane approaches include Si on plastic, organic transistors on plastic, and Si transistors on flexible stainless steel substrate. Progress is also being made on next generation inks, including more reflective inks with higher contrast ratios. A full color 6 inch, 170 pixel per inch (PPI) active matrix display using a newer generation ink has been developed and this will be described and demonstrated. Large format segmented flexible displays will also be described.

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Maintenance Case and Cost Analysis for University Facilities (대학시설물의 유지보수 건수 및 비용 분석)

  • Shin, Myeoung-Ha;Lee, Chan Sik
    • Journal of the Korean Institute of Educational Facilities
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    • v.23 no.6
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    • pp.27-34
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    • 2016
  • Although the scale and number of university facilities have increased, the maintenance of these facilities has not been efficient as maintenance costs incurred during facility operation periods, as well as management time, have not been sufficiently considered. In this study, the maintenance record data of national universities was compared and analyzed to analyze factors that incur maintenance costs according to the uses and costs of the facilities. According to the results, the number of cases of maintenance and repair work for basic educational facilities was shown to be the largest, accounting for 79%. The number of maintenance and repair work occurred according to work type was examined. According to the results, the highest ratio of maintenance and repair work occurred in the field of construction, specifically, the maintenance costs required for facility supplementation accounted for the highest ratio. Maintenance costs per unit area decreased over time in the newer university facilities, while showing a tendency to increase in older university facilities. However, there were cases where maintenance costs did not show any trends due to factors such as the limited maintenance budgets owing to the characteristics of public service facilities and facilities in the stage of deterioration or destruction after the stage of stabilization. This study is considered to be helpful for efficient university facility maintenance plans and budget calculations.

The Development of Textile Designs by Using Images of Lotus - Focused on Images of Digital Photograph - (연(蓮) 이미지를 활용한 직물디자인 개발 - 디지털 사진 이미지를 중심으로 -)

  • Jung, Jin-Soun
    • Journal of the Korean Society of Costume
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    • v.61 no.9
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    • pp.50-59
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    • 2011
  • Recently the word "digital" is widely used in almost every field and is dominating this generation. Digital has become the most significant characteristic representing the 21st century, and is leading change across wide range of our life-styles in our culture and thoughts. New art is in harmony with digital in the 21st century. Digital photography is simpler, faster and newer than the analog system of the past. From ancient times, the nature has been the subject of art, and many designers have studied the ways to create beauty from nature. In this study, I chose the lotus as the subject material of textile design development. The lotus invokes a sense of stillness, and nestles many fluid elements, including the curved fluid lotus, rhythmic lotus petal, sinuous lotus leaf, radial vein, lotus pip and oval seed. Therefore, I tried to use these elements of lotus for development of textile design. For this purpose, I photographed the lotus with a digital camera as equipment of design development. Then, on computer, I have developed six textile designs through the process of modification and editing by using the adobe illustrator program.

Analytical solution of the Cattaneo - Vernotte equation (non-Fourier heat conduction)

  • Choi, Jae Hyuk;Yoon, Seok-Hun;Park, Seung Gyu;Choi, Soon-Ho
    • Journal of Advanced Marine Engineering and Technology
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    • v.40 no.5
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    • pp.389-396
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    • 2016
  • The theory of Fourier heat conduction predicts accurately the temperature profiles of a system in a non-equilibrium steady state. However, in the case of transient states at the nanoscale, its applicability is significantly limited. The limitation of the classical Fourier's theory was overcome by C. Cattaneo and P. Vernotte who developed the theory of non-Fourier heat conduction in 1958. Although this new theory has been used in various thermal science areas, it requires considerable mathematical skills for calculating analytical solutions. The aim of this study was the identification of a newer and a simpler type of solution for the hyperbolic partial differential equations of the non-Fourier heat conduction. This constitutes the first trial in a series of planned studies. By inspecting each term included in the proposed solution, the theoretical feasibility of the solution was achieved. The new analytical solution for the non-Fourier heat conduction is a simple exponential function that is compared to the existing data for justification. Although the proposed solution partially satisfies the Cattaneo-Vernotte equation, it cannot simulate a thermal wave behavior. However, the results of this study indicate that it is possible to obtain the theoretical solution of the Cattaneo-Vernotte equation by improving the form of the proposed solution.

A Study on the Spray Characteristics of Flash Boiling Using Two Component Mixing Fuel (2성분 혼합연료를 이용한 감압비등 분무특성에 관한 연구)

  • Myong, Kwang-Jae;Yoon, Jun-Kyu
    • Journal of Advanced Marine Engineering and Technology
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    • v.33 no.4
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    • pp.451-458
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    • 2009
  • This experimental study was conducted to investigate macroscopic characteristics of the flash boiling spray with tow component mixing fuel. Homogeneous Charge Compression Ignition (HCCI) is a newer combustion method for internal combustion engines to reduce nitrogen oxide and particulate matter simultaneously. But it is difficult to put this combustion method to practical use in an engine because of such problems as instability of combustion in low load operating conditions and knocking in high load operating conditions. In HCCI, combustion characteristics and exhaust emissions depend on conditions of air/fuel mixture and chemical reactions of fuel molecules. The fuel design approach is achieved by mixing two components which differ in properties such as density, viscosity, volatility, ignitability and so on. We plan to apply the fuel design approach to HCCI combustion generated in a real engine, and examine the possibility of mixture formation control using the flash boiling spray. Spray characteristics of two component fuel with a flash boiling phenomenon was investigated using Shlieren and Mie scattering photography. Test fuel was injected into a constant volume vessel at ambient conditions imitated injection timing BTDC of a real engine. As a result, it was found that a flash boiling phenomenon greatly changed spray structure, especially in the conditions of lower temperature and density. Therefore, availability of mixture formation control using flash boiling spray was suggested.