• Management Science and Financial Engineering
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• v.19 no.1
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• pp.11-16
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• 2013

This paper derives an equilibrium asset price when there exist three kinds of traders in financial market: a risk-averse informed trader, noise traders, and risk neutral market makers. This paper is an extended version of Kyle's (1985, Econometrica) continuous time model by introducing insider's risk aversion. We obtain not only the equilibrium asset pricing and market depth parameter but also insider's value function and optimal insider's trading strategy explicitly. The comparative static shows that the market depth (the reciprocal of market pressure) increases with time and volatility of noise traders' trading.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.37 no.4
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• pp.145-153
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• 2014

In this paper, we study the bargaining strategy of a manufacturer who sells a product through the online and offline distribution channels. To do this, we derive and analyze the equilibrium solutions for both simultaneous and sequential bargaining games. The result shows that the optimal bargaining strategy heavily depends on the size of the online distribution channel's loyal customers and the difference between the retail prices of the online and the offline distribution channels. It is also shown that, in some cases, the online distribution channel has incentive to downsize its loyal customers and its retail price for a better bargaining outcome.

• Journal of Communications and Networks
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• v.12 no.3
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• pp.253-265
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• 2010

The problem of pricing for a telecommunication network is investigated with respect to the users' sensitivity to the pricing structure. A functional optimization problem is formulated, in order to compute price reallocations as functions of data collected in real time during the network evolution. No a-priori knowledge about the users' utility functions and the traffic demands is required, since adaptive reactions to the network conditions are sought in real time. To this aim, a neural approximation technique is studied to exploit an optimal pricing control law, able to counteract traffic changes with a small on-line computational effort. Owing to the generality of the mathematical framework under investigation, our control methodology can be generalized for other decision variables and cost functionals.

• International Journal of Reliability and Applications
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• v.8 no.2
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• pp.183-197
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• 2007

There is a growing trend for asset intensive industries to outsource maintenance services of their complex assets since outsourcing through service contract reduces upfront investments in infrastructure, expertise and specialised maintenance facilities. Estimation of costs for such contracts is complex and it is important to the user and the service providers for economic variability. The service provider's profit is influenced by many factors such as the terms of the contract, reliability of asset, and the servicing strategies, costs of resources needed to carryout maintenance. There is a need to develop mathematical models for understanding future costs to build it into the contract price. Three policies for service contracts are proposed in this paper considering the concepts of outsourcing maintenance service of assets to the service providers. Conceptual models are developed for estimating servicing costs of outsourcing through service contracts by considering time dependent failure mode.

• Journal of Global Scholars of Marketing Science
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• v.16 no.4
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• pp.1-11
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• 2006

Product quality of perishable food is significantly affected by the environment. Technological approaches for tracking and tracing such products have attracted increasing attentions in both research and practice. This paper studies how supermarket can maximize profits of selling perishable food through price adjustment based on real-ime product quality and values. This can be achieved by tracing the value of the perishable food based on an automatic product identification technology Radio Frequency Identification(RFID). With the support of the RFID, an optimization model can be developed to enable product tracking and tracing. The analysis of the model shows promising benefits of applying a dynamic pricing policy and obtains the optimal ordering decision in the respect of deterministic demand function.

• Journal of the Korean Ceramic Society
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• v.54 no.3
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• pp.217-221
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• 2017

Improvement studies of existing phosphors are needed for use in light emitting diodes (LEDs). Among the phosphors discovered recently, the SLA ($SrLiAl_3N_4:Eu^{2+}$) is a phosphor that has a narrow width. It is now known as a good red phosphor that meets the industry's needs for warm white (color temperature ranging from 2700 to 4000 K) and high CRI (> 80). However, SLA phosphors are obtained from difficult synthetic methods. All commercially available phosphors should be derived from the general solid state synthesis method. The phosphors produced by difficult synthetic methods will inevitably fall out of price competitiveness and will be scrapped. This study succeeded in synthesizing SLA ($SrLiAl_3N_4:Eu^{2+}$) phosphors by using a general solid phase synthesis method based on the reaction energy obtained from DFT calculations. As a result, we found an optimal solid state synthesis method for SLA phosphors.

• Proceedings of the KIEE Conference
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• 2003.11a
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• pp.438-440
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• 2003

This paper resents an application of an Artificial Neural Network(ANN) technique to forecast the short-term system marginal price(SMP). The forecasting of SMP is a very important factor in an electricity market for the optimal biddings of market participants as well as for the market stabilization of regulatory bodies. The proposed neural network scheme is composed of three layers. In this process, input data are set up to reflect market conditions. And the $\lambda$ that is the coefficient of activation function is modified in order to give a proper signal to each neuron and improve the adaptability for a neural network. The reposed techniques are trained validated and tested with the historical real-world data from korea Power Exchange(KPX).

• Journal of Biosystems Engineering
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• v.27 no.2
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• pp.107-116
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• 2002

This study was designed to analyze farmers' behavior on dealing with secondhand agricultural machinery and to device proper measures for promoting utilization of secondhand agricultural machinery. This objective was accomplished by using data which were analyzed, collected through questionnaires from 35 farmers on dealing with secondhand agricultural machinery. The main, realistic measures for promoting utilization of secondhand agricultural machinery, based on farmers' behavior, are as fellows: First, to make and offer a criteria fer evaluating the optimal price of secondhand agricultural machinery, which should be a effective measure for promoting farmers' dealing with them. Second. to establish a store to exhibit and sell secondhand agricultural machinery. This is the most important way to promote dealing with them. In the process of political supporting to establish the store, the equality of opportunity should be adopted to every organization want to deal secondhand agricultural machinery. Third, to strengthen financial supports for buying secondhand agricultural machinery and to assure A/S system.

• Journal of Korean Institute of Industrial Engineers
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• v.18 no.2
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• pp.51-63
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• 1992

It is commonly accepted that the demand forecasting data play a vital role in deciding strategic variables such as the optimal market entry time, the price structure and the production capacity etc. In case of the new product, however, it is hard to apply the well known regression-type methodologies. In this study, we survey the characteristics of various types of new product demand forecasting(NPDF) methodologies which are useful in case the historical data are not available. Further, we explore the possibility of incorporating the NPDF methodologies and develope the unified infra-structure of the NPDF methodologies. Finally we propose an integrated prototype of the NPDF model.

• Korean Journal of Optics and Photonics
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• v.9 no.5
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• pp.291-299
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• 1998

In the rear projection TV, the optimal system configurations of optical parts are presented, which are focused on competitive price and performances. From the initial design with five Seidel aberrations free, aspherization of the plastic lenses, and optimization with tolerances, a new lens consisting of two plastic and one glass lenses was designed. It is able to be used on current broadcast standard NTSC and digital TV in common. The developed CRT-lens assembly could display the 40 to 50 inch image and its resolution is more than 800 TV-lines.