• Journal of Korean Society of Transportation
• /
• v.24 no.7 s.93
• /
• pp.139-148
• /
• 2006

In order to incorporate substitution effects between different transport modes in optimal road Pricing, relating economic theories and models have been reviewed. It includes unconstrained optimization problem of maximizing separable and non-separable social net benefit functions of different substitutable urban transport modes. In doing that, the problem and limitations such as path-independent conditions with the asymmetric Jacobian of the objective function have been reviewed. Consequently, a plausible way of deriving optimal road price under interdependent market conditions has been suggested so that the idea can help identifying desirable and acceptable urban transport policy alternatives in a more comprehensive way.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.17
• /
• pp.251-293
• /
• 2002

The study is a comparative and analytical study which comprises of the analysis of the rules of the buyer's right to withhold performance where the seller delivers defective goods or documents of three legal systems; the CISG, English law and Korean law. The purposes underlying this study are twofold. The first is to clarify the current position as to the right of withholding performance in the event of the seller's tender of defective goods or documents in Korean law, CISG and English law so that it may assist the parties in drafting the buyer's right to withhold performance in their own contract. The second is to compare the rules of one jurisdiction with those of other jurisdictions and to evaluate the rules in light of the practical functions and benefits of the right to withhold performance and the discipline of comparative law the basic question of which is whether a solution from one jurisdiction may facilitate the systematic development and reform of another jurisdiction. It shows that each jurisdiction does not have any provision or case law specifically dealing with the buyer's right to withhold performance where the seller delivers the goods which are defective in terms of quality or quantity. The absence of such provision or case in each jurisdiction has resulted in either disputes or uncertainty. However, the study executed in light of the primary functions and benefits of the right in practice and the discipline of comparative law reveals that, first, the view in English law which is against recognizing the right may not be justified when one considers the practical importance of having the right and the position taken by the CISG as a well developed and modernized law, second, the view in Korean law which argues that the principle of specific goods dogma on which it is based is extended even to substitutable or repairable goods cannot be also justified on the ground of one's ordinary expectation and the position under the CISG and English law which imposes a contractual duty to deliver non-defective goods on the seller insofar as the buyer's payment is deemed to be made in exchange for the seller's delivery of non-defective goods and they are substitutable or repairable. Regarding the right to withhold performance in the event of the seller's tender of defective documents, the study shows that the relatively detailed rules in English law may be utilized as a guideline to fill the gap in the CISG and Korean law in terms of the practicability and appropriateness to govern documentary sales. Furthermore, it is found that the position in English law which confers on the buyer the right to withhold performance for a trivial defect in documents may be unreasonable in terms of one's need to enable justice to be done in individual cases.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.2
• /
• pp.911-921
• /
• 2021

Indonesian oil palm plantation industry has chance to increase a sustainable competitive advantage. The creation of a sustainable competitive advantage is determined by the ability of the palm oil industry to utilize limited resources and capabilities. The purpose of this study was to analyze the determinants of the creation of sustainable competitive advantage (SCA) in the palm oil industry in Riau, Indonesia. The model framework uses organizational-level SCA dimensions. Four dimensions are used to measure SCA in the palm oil industry in Riau, namely value, scarce resource, inability to replicate, irreplaceable. Questionnaires were distributed to oil palm industry players in Riau with 81 respondents. The analysis technique uses Structural Equation Model with Partial Least Square (SEM-PLS). The results showed that the SCA in the palm oil industry in Riau was at a moderate level. Although the competitive advantage of being sustainable in the palm oil industry in Riau is in the medium category, test results on SCA dimensions found that each latent variable forms a significant SCA framework with a reflective constructive relationship model. The three dominant and recommended dimensions that shape the construction of SCA in the palm oil industry are value, scarce resource, and irreplaceable.

• Environmental and Resource Economics Review
• /
• v.16 no.2
• /
• pp.275-311
• /
• 2007

Hydrogen energy is emphasized as a substitutable energy of carbon-based energy system in the future, since it is non-depletable and clean energy. Long term vision of Korean government on the national energy system is to promote hydrogen energy by 15% of final energy demand until 2040. This study analyzes economic impacts of hydrogen energy development employing a dynamic CGE model for Korea. Frontier technology such as hydrogen energy is featured as slow diffusion at the initial stage due to the learning effect and energy complementarity. Without government intervention, hydrogen energy would be produced upto 6.5% of final energy demand until 2040. However, if government subsidizes sales price of hydrogen energy by 10%, 20%, and 30%, share of hydrogen energy would increase 9.2%, 15.2%, and 37.7% of final energy demand. This result shows that the slow diffusion problem of hydrogen energy as frontier technology could be figured out by market incentive policy. On the other hand, production levels of transportation sector would increase while growth rate of oil and electricity sectors would decline. Household consumption would be affected negatively since increase of consumption due to the price decrease would be overwhelmed by income reduction owing to the increase of tax. Overall, GDP would not decrease or increase significantly since total production, investment, and export would increase even if household consumption declines.