• Title/Summary/Keyword: Opportunity cost

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Testing the Reliability of a Smartphone-Based Travel Survey: An Experiment in Seoul (스마트폰 기반 통행 행태 조사 자료 신뢰성 검증: 서울에서 수집된 자료를 바탕으로)

  • Lee, Jae Seung;Zegras, P. Christopher;Zhao, Fang;Kim, Daehee;Kang, Junhee
    • The Journal of The Korea Institute of Intelligent Transport Systems
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    • v.15 no.2
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    • pp.50-62
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    • 2016
  • With programmable applications that utilize sensors, such as global positioning systems and accelerometers, smartphones provide an unprecedented opportunity to collect behavioral data in an unobtrusive and cost-effective manner. This paper assesses the relative accuracy and reliability of the Future Mobility Sensing (FMS), a smartphone-based prompted-recall travel survey. We compared the data extracted from FMS with the data collected from the Korea Passenger Trip Survey (PTS), a traditional self-reported, paper-based travel survey. In total, 46 undergraduate students completed the PTS for seven consecutive days, while also carrying their smartphones with the activated FMS applications for the same time span. After completing the PTS, the participants validated their FMS data on the web-based prompted recall surveys. We then matched the validated FMS data with the PTS-based records. The FMS turns out to be superior in detecting short trips, which are usually under-reported in self-reported travel surveys. The reported PTS travel times are longer than for the FMS, suggesting that participants tend to overestimate their travel time in the PTS. This study contributes to the ongoing development of smartphone-based travel behavior data collecting methods.

The Effects of Female Labor Force Participation, Family Policies, and Gender Equality on Fertility Rate : Focused on OECD Countries (여성의 경제활동참가율이 출산율에 미치는 영향 : OECD 국가를 대상으로)

  • Hong, Sung-Hee
    • Journal of Family Resource Management and Policy Review
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    • v.25 no.2
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    • pp.41-52
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    • 2021
  • The purpose of this study is to examine how female labor force participation, family policies, and gender equality are related to fertility rate across countries. Multiple measures has been collected from various data sources(such as OECD, UNDP, and WVS) and the panel data set which includes (mostly) OECD countries range from 1990 to 2019 are analyzed. The major findings are as follows. First, based on OECD countries samples, female labor force participation is positively associated with the fertility rate, which implies that women's labor force participation does not lead to a reduction in fertility rate. Second, the length of paternity leave is positively associated with fertility rate whereas the direction is the opposite for the relationship between the length of maternity leave and fertility rate. This is attributed to the possibility that a longer period of maternity leave incurs the a higher opportunity cost of earning income, which leads to a reduced fertility rate. Third, countries with higher gender inequality index tend to have a higher fertility rate. Similarly, countries with higher gender equality value have a lower fertility rate. When the gender equality value is devideed into three sub-categories, education, politics, and employment, the gender equality value in education is the only sub-category which is negatively associated with the fertility rate. This study confirms that female labor force participation may not be a contributing factor in the lowering of fertility rate but instead can be positively associated with the fertility rate. Also, the results show that family policies or gender equality values can be significantly affect fertility rate.

Designing the Record Management Functions for Record Content Using Advantages of Cloud Storage (클라우드 저장소 장점을 활용한 기록 콘텐츠 관리기능 설계)

  • Yim, Jin-Hee
    • Journal of Korean Society of Archives and Records Management
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    • v.19 no.3
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    • pp.271-292
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    • 2019
  • Recently, the central administrative agency changed its business management system to cloud-based On-nara 2.0. To transfer and manage the records of the cloud business management system, the National Archives Service has developed and distributed a cloud-based records management system. It serves as an opportunity to maximize the benefits of cloud computing and redesign the records management to be more effective and efficient. The process and method of electronic record management can be transformed through digital technologies. First, we can change the transfer method for electronic records. When the business and the records management systems share the same cloud storage, it is possible to transfer the content files between the two systems without moving the contents files physically, thus copying only the metadata and reducing the cost and the risk of integrity damage. Second, the strategy for allocating storage space for contents can be conceived. Assuming that the cloud storage is shared by the business and the record management systems, it is advantageous to distinguish the storage location based on the retention period of the content files. Third, systems that access content files, such as records creation, records management, and information disclosure systems, can share the cloud storage and minimize the duplication of content files.

Estimation Study of Incremental Profit of the Imported Buff-tailed Bumblebee, Bombus terrestris, and Pollination Alternatives (서양뒤영벌 수입과 화분매개 대체안의 증분이익 추정 연구)

  • Yang, Dongjae;Kim, Sohee;Ji, Jeong-Yeon;Lee, Heungsik;Kim, Hyojoong
    • Korean Journal of Environment and Ecology
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    • v.33 no.4
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    • pp.408-421
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    • 2019
  • This study estimated and analyzed the incremental profits to compare the imported buff-tailed bumblebees, Bombus terrestris, and their pollination alternatives. A result of the analysis showed that the incremental profit, which is defined as the sales revenue minus the common production cost, was higher when using pollinator insects than when using the artificial pollination and that the incremental costs were lower when using domestic bumblebees or artificial pollination than when using imported bumblebees or honeybees. The incremental profits of each alternative were 46,801 million won for imported bumblebees, 47,170 million won for domestic bumblebees, 46,975 million won for honeybees, and 29,839 million won for artificial pollination. The incremental profit means the accounting profit that can be realized from each alternative. However, not all of the accounting profits can be attributed to pollen-mediated alternatives since they include potential costs such as imputed rent or normal profits. Considering the opportunity costs, which are the potential costs, it appears that the alternative of using imported bumblebees can lead to an economic loss. It means that fruit and vegetable farmers can expect additional economic profits if they choose other alternatives instead of using imported bumblebees.

A Study on Backup PNT Service for Korean Maritime Using NDGNSS (NDGNSS 인프라를 활용한 국내 해상 백업 PNT 서비스 연구)

  • Han, Young-Hoon;Lee, Sang-Heon;Park, Sul-Gee;Fang, Tae-Hyun;Park, Sang-Hyun
    • Journal of Navigation and Port Research
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    • v.43 no.1
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    • pp.42-48
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    • 2019
  • The significance of PNT information in the fourth industrial revolution is viewed differently in relation to the past. Autonomous vehicles, autonomous vessels, smart grids, and national infrastructure require sustainable and reliable services in addition to their high precision service. Satellite navigation system, which is the most representative system for providing PNT information, receive signals from satellites outside the earth so signal reception power is low and signal structures for civilian use are open to the public. Therefore, it is vulnerable to intentional and unintentional interference or hacking. Satellite navigation systems, which can easily acquire high performance of PNT information at low cost, require alternatives due to its vulnerability to the hacking. This paper proposed R-Mode (Ranging Mode) technology that utilizes currently operated navigation and communication infrastructure in terms of Signals of OPportunity (SoOP). For this, the Nationwide Differential Global Navigation Satellite System (NDGNSS), which currently gives a service of Medium Frequency (MF) navigation signal broadcasting, was used to validate the feasibility of a backup infrastructure in domestic maritime areas through simulation analysis.

An Empirical Study on the Profit Margin Adequacy of Korean General Insurance (국내 일반보험 예정이익률 적정성에 관한 실증연구)

  • Park, Geunyong;Kim, So-Yeun
    • The Journal of the Korea Contents Association
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    • v.21 no.6
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    • pp.588-597
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    • 2021
  • In Korea, the standard for calculating the profit of a general insurance, which constitutes the loading in the premium, is not specified, and most of the non-life insurance companies reflect 2~5% of the premium as profit margin. Although the transparency of pricing is required due to the nature of insurance products, there are insufficient standards and empirical studies on the determination of insurance price factors in the domestic insurance industry. In this study, we propose a method of calculating the expected profit margin of general insurance. A way for calculating the expected profit margin of the general insurance is to reflect the shareholder demand on the capital that the insurance company should secure against the risk of loss due to the profit/loss volatility, as a ratio to the insurance premium. Shareholders should be compensated for the risks associated with their insurance operations, and the opportunity cost of these shareholders is to be reflected in premiums. In this study, we calculate the amount of capital that the company should accumulate to prepare insurance risk for each product, and insurance risk is defined as the volatility of insurance operating profit/loss. And insurance risk is calculated using stochastic simulation based on Dynamic Financial Analysis (DFA) methodology. Finally, we calculate the expected profit margins for 25 products and analyzed the difference between those and the profit ratio of domestic general insurance.

Veterans Hospital Medical Expenses Increase & Decrease Characteristics and Convergence Phenomenon-Focusing on the implications of the medical support system for national veterans-

  • Yu, Tae Gyu
    • International Journal of Advanced Culture Technology
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    • v.9 no.1
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    • pp.16-21
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    • 2021
  • As the average age of national veterans has increased from 69 years old(2011) to 71 years old(since 2015) over the past five years, the overall medical service cost of veterans has increased by about 20%. The main cause of this phenomenon is 'ultra-aging', which accounts for 67% of veterans, while the proportion of health insurance patients aged 70 or older is 9%. Therefore, it is judged that the analysis of the trend of use of medical services at veterans hospitals in each region that is in charge of severe medical services of national veterans can serve as an opportunity to seek countermeasures for the severe medical system of national veterans. First of all, based on the details of major medical expenses (hospitalization, outpatient, pharmaceutical expenses) by region for the last 10 years(2010-2019), data significance was performed through a chi-square test, and the Central Veterans Hospital and Non-Central Veterans Hospital using EXCEL. 'Expected frequency' was calculated by year. By applying the CHITEST(observation frequency, expected frequency) function again, the p-value(p<0.05) was calculated, and the profit bias of each region's veterans hospital could be determined. The specific research method is for the last 10 years(2010-2019) for state-sponsored patients_outpatient treatment income, state-sponsored patients_hospitalization income, exempt patients_outpatients at the Central Veterans Hospital, Busan Veterans Hospital, Gwangju Veterans Hospital, Daegu Veterans Hospital, and Daejeon Veterans Hospital. A one-way analysis of variance was conducted to verify the significance of the difference between group averages on the status of 5 medical revenues of veterans hospitals in each of the 5 regions, including medical treatment income, reduced patients_hospitalization income, and reduced patients_medicine expenses. It was found to be significant(p<0.05) at all levels, including region and type. Finally, the bias in the profit structure of regional veterans hospitals was the highest in 2017(p=0.0004) and the lowest in 2013(p=0.0349). In addition, in the profit structure of the Veterans Hospital, the year in which the'regional' variable worked the most was 2019, and the year with the least affected was 2010. The order of the former is Jungang(=31,674,713), Busan(=12,314,614), Gwangju(=11,957,038), Daegu(=10,168,015), and Daejeon(=6,991,034), and the order of the latter is Jungang(=57,868,791), and Busan(=19,183,194). Gwangju(=17,904,712), Daegu(=15,656,034), and Daejeon(=14,377,395). In conclusion, the profit bias of veterans hospitals repeatedly raced the lowest(p=0.01986) and highest(p=0.03499) for the past five years(2010-2014) year by year, with the 'regional' variable being the most in the veterans hospital's profit structure It was identified as a major influence factor. On the other hand, for the last 5 years (2015-2019), the influence factors of the'regional' variable every year were in 2015(p=0.02015), 2016(p=0.01741), 2017(p=0.00045), and 2018(p=0.00394). in 2019(p=0.00227), a significant difference was confirmed at a very low level.

Determinants of U.S. Buyer Loyalty toward Gobizkorea.com: A Study Focused on Country Image, E-Service Quality, and Satisfaction (미국 바이어의 고비즈코리아에 대한 충성도 결정요인: 국가이미지, 서비스 품질 및 만족도를 중심으로)

  • Chung, Jae-Eun;Oh, Jeong Suk;Jeong, So Won
    • Korea Trade Review
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    • v.43 no.5
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    • pp.203-232
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    • 2018
  • Gobizkorea is an online B2B matching platform operated by the Small & Medium Business Corporation. Gobizkorea provides an opportunity for resource-poor SMEs to promote their products and exploit new market opportunities at low cost. The successful operation of Gobizkorea will contribute to the increased exports of Korean SMEs. Accordingly, the present study examined determinants of foreign buyer loyalty toward Gobizkorea.com focusing on country image, e-service quality, and satisfaction. One hundred two survey questionnaires were collected from U.S. buyers registered with Gobizkorea.com. Exploratory and confirmatory factor analysis confirmed three dimensions of e-service quality including information & efficiency, reliability & privacy, and prompt communication & delivery. The path analysis results showed that the country image of Korea significantly and positively affected these three dimensions of e-service quality. Information & efficiency and reliability & privacy positively influenced buyer satisfaction. Reliability & privacy and satisfaction had a positive impact on buyer loyalty. This study enhances the understanding of the foreign buyers use of the domestic e-market platform by examining of determinants of U.S. buyer loyalty toward Gobizkorea.

A Study on the Estimation Method of the Repair Rates in Finishing Materials of Domestic Office Buildings (국내 업무시설 건축 마감재의 수선율 산정 방안에 관한 연구)

  • Kim, Sun-Nam;Yoo, Hyun-Seok;Kim, Young-Suk
    • Korean Journal of Construction Engineering and Management
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    • v.16 no.1
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    • pp.52-63
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    • 2015
  • Business facilities among domestic architectures have rapidly been constructed along with domestic economic development. It is an important facility taking the second largest proportion next to apartment buildings among current 31 building types of fire department classification of 2012 year for urban architectures. The expected service life of business facilities is 15 years, but 70% of those in urban areas have surpassed the 15 year service life as of the present 2014. Thus, the demand for urgent rehabilitation of such facilities is constantly increasing due to the aging and performance deterioration of the facilities'main finishing materials. Especially, the business facilities are being used for the lease of company office or private office, and such problems as aging and performance deterioration of the facilities could cause less competitive edge for leasing and real estate value depreciation for the O&M (Operation & Management) agent and the owner, respectively. Therefore, an effective planned rehabilitation as a preventive measure according to the standardized repair rate by the number of years after the construction is in need in order to prevent the aging and performance deterioration of the facilities(La et al. 2001). Nonetheless, domestic repair/rehabilitation standards based on the repair rate are mainly limited to apartment buildings and pubic institutions, resulting in impractical application of such standards to business facilities. It has been investigated and analyzed that annual repair rate data for each finishing material are required for examination of the applicability of the repair rate standard for the purpose of establishment of a repair plan. Hence, this study aimed at developing a repair rate computation model for finishing materials of the facilities and verifying the appropriateness of the annual repair rate for each finishing material through a case study after collecting and analyzing the repair history data of six business facilities. The results of this study are expected to contribute to the planning and implementation of more efficient repair/rehabilitation budget by preventing the waste of unpredicted repair cost and opportunity cost for the sake of the business facilities' owners and O&M agents.

Effect of Capital Market Return On Insurance Coverage : A Financial Economic Approach (투자수익(投資收益)이 보험수요(保險需要)에 미치는 영향(影響)에 관한 이론적(理論的) 고찰(考察))

  • Hong, Soon-Koo
    • The Korean Journal of Financial Management
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    • v.10 no.1
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    • pp.249-280
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    • 1993
  • Recent financial theory views insurance policies as financial instruments that are traded in markets and whose prices reflect the forces of supply and demand. This article analyzes individual's insurance purchasing behavior along with capital market investment activities, which will provide a more realistic look at the tradeoff between insurance and investment in the individual's budget constraint. It is shown that the financial economic concept of insurance cost should reflect the opportunity cost of insurance premium. The author demonstrates the importance of riskless and risky financial assets in reaching an equilibrium insurance premium. In addition, the paper also investigates how the investment income could affect the four established theorems on traditional insurance literature. At the present time in Korea, the price deregulation is being debated as the most important current issue in insurance industry. In view of the results of this paper, insurance companies should recognize investment income in pricing their coverage if insurance prices are deregulated. Otherwise. price competition may force insurance companies to restrict coverage or to leave the market.

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