• The Research Journal of the Costume Culture
• /
• v.21 no.2
• /
• pp.272-286
• /
• 2013

Mass customization is a marketing strategy to meet consumer needs for variation and uniqueness of products. Although there are quite a few studies quantitatively investigated the options provided by mass customization process, scholarly work related to mass customization has provided mixed results on consumer perception of complexity and their responses. The purpose of the study is to derive the factors that influence consumer complexity perception in online apparel mass customization process and consumers' needs to enhance mass customization services. Data were collected by conducting focus group interviews of which 29 participations in 4 groups. The results of the study suggested that consumers perceived complexity through mass customization process due to too many choice options. However, the effect of number of options on respondents' complexity perception was different depending on consumer characteristics such as consumer expertise and fashion involvement, and the characteristics of consumer preference development. Shopping context such as shopping purpose is another moderating factor. This study also suggests that a variety of marketing strategies which can enhance mass customization services affect the relationship between the number of options and consumers' complexity perception. The findings of the study provide academic and managerial implications.

• KSII Transactions on Internet and Information Systems (TIIS)
• /
• v.12 no.12
• /
• pp.6139-6160
• /
• 2018

For ease of use and access, web browsers are now being used to access and modify sensitive data and systems including critical control systems. Due to their computational capabilities and network connectivity, browsers are vulnerable to several types of attacks, even when fully updated. Browsers are also the main target of phishing attacks. Many browser attacks, including phishing, could be prevented or mitigated by using site-, user-, and device-specific security configurations. However, we discovered that all major browsers expose disparate security configuration procedures, option names, values, and semantics. This results in an extremely hard to secure web browsing ecosystem. We analyzed more than a 1000 browser security configuration options in three major browsers and found that only 13 configuration options had syntactic and semantic similarity, while 4 configuration options had semantic similarity, but not syntactic similarity. We: a) describe the results of our in-depth analysis of browser security configuration options; b) demonstrate the complexity of policy-based configuration of web browsers; c) describe a knowledge-based solution that would enable organizations to implement highly-granular and policy-level secure configurations for their information and operational technology browsing infrastructures at the enterprise scale; and d) argue for necessity of developing a common language and semantics for web browser configurations.

• Journal of Information Technology Services
• /
• v.19 no.6
• /
• pp.119-130
• /
• 2020

This work investigates how domestic or foreign ERP affects the relationship between risks associated ERP implementation and intention to adopt risk-mitigating options. We propose three risks such as ERP vendor risk, economic risk, and security risk should affect positively the intention to adopt the risk-mitigating options. To validate the impact of risks and to examine the difference between domestic and foreign ERP, we collected data from IT managers in small and medium sized logistics companies in South Korea using survey questionnaires. We validate the difference between domestic ERP and foreign ERP using multiple regression analyses. We find that IT managers using domestic ERP are willing to adopt risk-mitigating options for economic and security risk. In contrast, we find that IT managers using foreign ERP are willing to adopt risk-mitigating options for ERP-vendor risk. This work may provide IT managers in logistics industry a practical guideline of choosing either domestic or foreign ERP based on their risk preferences.

• Korea Trade Review
• /
• v.47 no.2
• /
• pp.103-120
• /
• 2022

This paper studies the possibility of options as an instrument for central bank to intervene foreign exchange market. As opposed to spot transaction or forward transaction, which impacts spot exchange rate only once, currency options can continuously resist a directional speculative pressure on spot market due to the dynamic delta hedging of OTC currency options market maker. This research also analyzes whether and how central banks can use currency options to lower exchange rate volatility and maintain (implicit) target zones in foreign exchange markets. It argues that short position rather than long position in options will result in market makers dynamically hedging their long option exposure in a stabilizing manner, consistent with the first objective. Selling a "Strangle" allows a central bank to increase the credibility of its commitment to a target zone, and could have a lower expected cost than spot market interventions. However, this strategy also exposes the central bank to an unlimited loss potential. Therefore these kinds of intervention strategies must be used in the short run and temporarily.

• East Asian Journal of Business Economics (EAJBE)
• /
• v.12 no.1
• /
• pp.35-42
• /
• 2024

Purpose: A railroad project is a complex system with large construction costs in the initial stage and ongoing operating costs over its lifecycle. Current railroad projects tend to be based on construction options, which leads to huge deficiencies in operating costs. This phenomenon results from a lack of appropriate tools to accurately estimate a railroad project's lifecycle costs. This study attempts to analyze the major components of railroad operating costs and to propose a decision-making system for analyzing the long-term lifecycle costs of railroad projects. Research design, data and methodology: We review the literature and analyze the current status of railroad operating costs in Korea and overseas. Based on previous projects, a framework for project options and operating costs is proposed. The framework is applied to actual railroad projects to demonstrate the validity of the model. Results: Case analysis shows that our framework is comprehensive in analyzing the primary aspects of railroad operating costs and plays an effective role in choosing various railroad project options. This study points out that the railway project operates inefficiently because estimating long-term costs without reflecting specific project options causes many errors. Conclusions: A major contribution of this study is the development of an improved framework for accurately estimating operating costs and providing policymakers and engineering firms with a holistic decision support system. Detailed components in estimating operating costs of the railroad business are discussed. And we present a decision-making tool that policymakers and private businesses can use in planning the railroad business.

• Journal of Auto-vehicle Safety Association
• /
• v.10 no.2
• /
• pp.50-55
• /
• 2018

Choosing automobile safety options is price-performance matter. The best fit options to buyer who has a certain driving habit are problem of MCDM (Multi Criteria Decision Making) because price of safety option, statistics of relating accident, consequence of accident, and driving habit are the multi criteria to be evaluated. In this paper, PROMETHEE-GAIA methodology is applied for solving this MCDM problem. The result shows that a different driving habit makes different choosing priority of safety options.

• Communications of the Korean Mathematical Society
• /
• v.31 no.1
• /
• pp.199-207
• /
• 2016

A chained option is a barrier option activated in the event that the underlying asset price crosses barrier or barriers prior to maturity in a specified order. In this paper, we study the pricing of chained options with the quanto property called the "Quanto chained option". A quanto chained option is a chained option starting at time when the foreign exchange rate has the multiple crossing of specified barriers. We provide closed-form formulas for valuing the quanto chained options based on probabilistic approach.

• New & Renewable Energy
• /
• v.2 no.2 s.6
• /
• pp.108-117
• /
• 2006

This paper focus on power development options for remote islands. Recently, in accordance with progress in distributed generation technologies including renewable energy sources, many options are possible as power development option for island. At first we estimate generation cost by generation technology then recommend and suggest some countermeasures and implementation for institutional improvement.

• Korean Journal of Mathematics
• /
• v.25 no.2
• /
• pp.229-246
• /
• 2017

This paper concerns barrier option of American type where the underlying price is monitored during only part of the option's life. Analytic valuation formulas of the American partial barrier options are obtained by approximation method. This approximation method is based on barrier options along with exponential early exercise policies. This result is an extension of Jun and Ku [10] where the exercise policies are constant.

• Bulletin of the Korean Mathematical Society
• /
• v.52 no.3
• /
• pp.947-953
• /
• 2015

Vecer derived a degenerate parabolic equation characterizing the price of Asian options with generally sampled average. It is well understood that there exists a unique probabilistic solution to Vecer's PDE but it remained unclear whether the probabilistic solution is a classical solution. We prove that the probabilistic solution to Vecer's PDE is indeed regular.