• The Journal of Asian Finance, Economics and Business
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• v.7 no.6
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• pp.145-155
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• 2020

This study analyzes the degree of competition in the oil refinery market in Korea, which is considered an oligopoly market. The price of gasoline and diesel and the quantity of supply are used to identify the market competition. We also analyze whether the oil tax reduction policy has affected market competition. The competitiveness of the market was examined using monthly data from 2008 to 2019. Bresnahan-Lau method was employed to estimate the degree of competition in the oil refinery market, which is frequently used in the industrial studies. The analysis shows that the gasoline and diesel markets seem close to a perfect competitive market. Also, the tax cut has weakened market competition. In other words, the monopolistic power has increased in the market, so consumers have not benefit from the price cuts as much as tax cuts. Although the oil refinery market where four major companies are competing, the government's monitoring and price disclosure system help the market to be highly competitive as much as a perfect competition market. The tax cut, in the high oil price era, has a negative effect on the competition because of an information asymmetry about the price-setting process between suppliers and consumers.

• Journal of Korea Port Economic Association
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• v.33 no.3
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• pp.105-120
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• 2017

This study analyzed changes in the competitive structure of the global shipping container market and the appropriate capacity of the container fleet in Korea from three perspectives. The competitive market analysis applied the market concentration ratio and Hirschman-Herfindahl index, while the appropriate capacity analysis was based on the following three aspects: (1) Fleet capacity to secure competitiveness in the global shipping alliance; (2) Fleet capacity to increase national fleet coverage of domestic import and export container cargo; and (3) Fleet capacity analysis through the panel model considering the characteristics of the major shipping countries. Analysis of the global shipping container market reveals an oligopoly industry, and Korea's container fleet capacity is insufficient across all three analyses.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.54 no.2
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• pp.79-87
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• 2005

At present Cournot model is one of the most commonly used theories to analyze the gaming situation in oligopoly market. But there exist several problems to apply this model to electricity market. The representative one is to obtain the inverse demand curve able to be induced from the relationship between market price and demand response. In Cournot model, each player offers their generation quantity to accomplish maximum profit, which is accomplished by reducing their quantity compared with available total capacity. As stated above, to obtain the probable Cournot equilibrium to reflect real market situation, we have to induce the correct demand function first of all. Usually the correlation between price and demand appears on the long-term basis through the statistical data analysis (for example, regression analysis) or by investigating consumer utility functions of several consumer groups classified as residential, industrial, and commercial. However, the elasticity has a tendency to change continuously according to the total market demand size or the level of market price. Therefore it should be updated as trading period passes by. In this paper we propose a method for inducing and updating this price elasticity of demand function for more realistic market equilibrium.

• Proceedings of the KIEE Conference
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• 2005.11b
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• pp.168-170
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• 2005

At present Cournot model is one of the most commonly used theories to analyze the gaming situation in oligopoly market. But there exist several problems to apply this model to electricity market. The representative one is to obtain the inverse demand curve able to be induced from the relationship between market price and demand response. In Cournot model, each player offers their generation quantity to accomplish maximum profit, which is accomplished by reducing their quantity compared with available total capacity. As stated above, to obtain the probable Cournot equilibrium to reflect real market situation, we have to induce the correct demand function first of all. Usually the correlation between price and demand appears on the long-term basis through the statistical data analysis (for example, regression analysis) or by investigating consumer utility functions of several consumer groups classified as residential, industrial, and commercial. However, the elasticity has a tendency to change continuously according to the total market demand size or the level of market price. Therefore it should be updated as trading period passes by. In this paper we propose a method for inducing and updating this price elasticity of demand function for more realistic market equilibrium

• Journal of Korean Society of Industrial and Systems Engineering
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• v.33 no.3
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• pp.137-145
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• 2010

The objective of this paper is to evaluate the equilibrium price between PSTN and VoIP telephony services in the case of non-linear utility function. Currently there are two types of wired phone services we are known PSTN (Public Switched Telephone Network) and VoIP (Voice over Internet Protocol). The PSTN telephony which provide high quality service and VoIP which provides relatively low quality service form a vertically differentiated oligopoly. Therefore, the evaluation of the equilibrium price between PSTN and VoIP services is very important to wired phone service providers. The equilibrium price depends on the state of the service cost function has been proved different value. This paper was evaluated each equilibrium price for the state of the linear cost function and non-linear cost function. Subsequently, this paper analyzed the demand of both services and the equilibrium profit which can maximize the profit of both service providers.

• Journal of Korea Game Society
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• v.11 no.1
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• pp.159-168
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• 2011

Online game industry has achieved remarkable development not only in Korea, but also in the world with support from huge progress in information technology. By the way, there was calm period that top tier MMORPGs had held their ranks in oligopoly situation before Aion's appearance. At that time, NHNgames succeeded to penetrate into the market and settle down as a major player. In this context, this study will identify the factors of successful market entry strategy and draw helpful ideas by analyzing case of NHNgames which succeeded to enter the market of MMORPG through the basic strategic framework of Kalyanaram and Gurumurthy. This discussion will provide several implications for the solution of online game market penetration problem which might be never ended and for the way of industry's development.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.8 no.4
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• pp.1192-1207
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• 2014

Dynamic spectrum sharing is a key technology to improve spectrum utilization in wireless networks. The elastic spectrum management provides a new opportunity for licensed primary users and unlicensed secondary users to efficiently utilize the scarce wireless resource. In this paper, we present a game-theoretic framework for dynamic spectrum allocation where the primary users rent the unutilized spectrum to the secondary users for a monetary profit. In reality, due to the ON-OFF behavior of the primary user, the quantity of spectrum that can be opportunistically shared by the secondary users is limited. We model this situation with the renewal theory and formulate the spectrum pricing scheme with the Bertrand game, taking into account the scarcity of the spectrum. By the Nash-equilibrium pricing scheme, each player in the game continually converges to a strategy that maximizes its own profit. We also investigate the impact of several properties, including channel quality and spectrum substitutability. Based on the equilibrium analysis, we finally propose a decentralized algorithm that leads the primary users to the Nash-equilibrium, called DST. The stability of the proposed algorithm in terms of convergence to the Nash equilibrium is also studied.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.8 no.11
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• pp.3674-3710
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• 2014

In this tutorial, we integrate the concept of cognitive radio technology into game theory and supermarket game theory to address the problem of resource allocation in multiuser multicarrier cognitive radio networks. In addition, multiuser multicarrier transmission technique is chosen as a candidate to study the resource allocation problem via game and supermarket game theory. This tutorial also includes various definitions, scenarios and examples related to (i) game theory (including both non-cooperative and cooperative games), (ii) supermarket game theory (including pricing, auction theory and oligopoly markets), and (iii) resource allocation in multicarrier techniques. Thus, interested readers can better understand the main tools that allow them to model the resource allocation problem in multicarrier networks via game and supermarket game theory. In this tutorial article, we first review the most fundamental concepts and architectures of CRNs and subsequently introduce the concepts of game theory, supermarket game theory and common solution to game models such as the Nash equilibrium and the Nash bargaining solution. Finally, a list of related studies is highlighted and compared in this tutorial.

• Journal of the Korean Home Economics Association
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• v.20 no.4
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• pp.133-142
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• 1982

The Consumer Education is one of the rapidly raised problems in the process of recent Economic Growth. As the Society and its economy changes into Oligopoly, the nature and the scope of the Consumer Education also changes. However, We don't have an institutional, systematic education of consumers. Even the basic concepts of Consumer Education has not yet been established, because it is in an infant state. Thus, the aim of this paper is to establish the fundermental concepts of Consumer Education and to help settlement of the direction of Consumer Education. The conclusions are as following: First, Consumers as the objects of Consumer Education are limited to the Ultimate-Consumer; and they can divided into three groups-Individual Consumer, Consumer-Group, the Consuming Masses. Now were have to deal with not only the concept of Ultimate Consumer which limited to the Consumer, but deal with the realistic problems involving Citizens and Livers. Second, Consumer Education is systematic educational activity in order that Consumers can assume an subjective behavior for the purpose of improvement and support of their own rights in society. Third, Consumer Education which enforced Consumers' Cooperative Society and Goods Test is the movements of systematic resistance of consumers. The former aims at Economic Equilibrium, while the latter Informative Equilibrium. so, the two movements should channel the direction of Consumer Education in order to realize the Equilibrium.

• Journal of Information Technology Services
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• v.14 no.3
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• pp.131-146
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• 2015

The communications market can be characterized for its overflow of users, oligopoly business structure, 24/7 open service, incomplete sales, and operation of core platform function. These characteristics have lead users to continuously make complaints and suffer inconveniences, and thus the concept of user protection has come to receive attention. This study aims to propose solutions through communication channeling between businesses and users, based on website construction from the viewpoint of user protection. In particular, a research model was developed to display how the information symmetry of websites can be influential on the satisfaction, reliability, and continuous intention for using communication services. Total of 14 hypotheses were set to measure a significant degree of variables corelation and eight hypotheses were accepted finally. The analysis results showed that information symmetry of telecommunication service websites had a positive effect on intention for continuous usage. Through the research results, it is expected that communication service businesses will be able to consider important factors when constructing websites. Furthermore, the results are expected to be utilized as for ensuring users' continued usage of their communication services.