• The Journal of Economics, Marketing and Management
• /
• v.12 no.2
• /
• pp.1-10
• /
• 2024

Purpose: This study conducted an empirical study to estimate the loss aversion rate of individual investors in the Seoul condominium market. Research design, data and methodology: A survey was conducted with Seoul residents ranging from 30's to 60's with various backgrounds. Descriptive statistical analysis and a paired sample t-test were conducted using SPSS 27.0 statistical package. Results: The results of the t-test showed that Seoul residents are indeed more sensitive to loss than gains, as pointed out in various researches related to behavioral economics. Also, the loss aversion rate associated with KRW 50 million risk was found to be 2.14. Finally, the same question was asked with KRW 100 million risk, doubled associated risk of previous question, using the same scenario, and it's been verified that the loss aversion rate increases as the associated risk or stake increases. The loss aversion rate with double risk is 2.26 which is about 5% higher than the one with KRW 50 million risk. Conclusions: This study can help many groups of people in society who need to establish rewards and punishment policies within any organization. In particular, incorporating human cognitive biases, such as loss aversion can help the South Korean government shape more effective reward and punishment policies when building rewards and punishments using taxes.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
• /
• v.73
• /
• pp.65-90
• /
• 2017

The rule of warranty in English insurance law was established in the second part of the $18^{th}$ century by Lord Mansfield, who laid the foundations of the modern English law of insurance contract and developed very different rule of insurance law, especially in the field of warranty. At the time of Lord Mansfield, warranty, that is, the promise given by the assured, played an important role for the insurer to assess the scope of the risk. Legal environments, however, have changed since the age of Lord Mansfield. English and Scottish Commissions proposed very dramatic reform of law in the field of warranty law to reflect the changes of legal environment through the Insurance Act 2016. This article intends to consider the legal implications through the comparative analysis between the new regime of warranty in the Insurance Act 2015 and MIA 1906. The major changes in the Insurance Act 2015 are summarized as following. First, Basis of the contract clauses in non-consumer insurance contracts should be of no effect and representations should not be capable of being converted into warranties by means of a policy term or statement on the proposal form. This requirement should not be capable of being avoided by the use of a contract term and the arrangement of contracting out by parties should be of no effect. Secondly, The existing remedy for breach of warranty, that is, automatic discharge of the insurer's liability, should be removed. Instead, the insurer's libility should be suspended from the point of breach of warranty and reattach if and when a breach of warranty has been remedies. Thirdly, A breach of warranty should genally be regarded as remedied where the insured ceases to be in breach of it. In the other hand, for time-specific warranties which apply at or by an ascertainable time, a breach should be regarded as remedies, if the risk to which the warranty relates later, becomes essentially the same as that originally contemplated by the parties. Fourthly, where a term of an insurance contract relates to a particular kind of loss, or loss at a particular location/time, the breach of that term should only give the remedy in relation to loss of that particular kind of loss, or at a particular location/time. Finally, whether a term of an insurance contrat relates to loss of a particular kind of at a particular location/time should be determined objectively, based on whether compliance with that ther would tend to reduce the risk of the occurrence of that category of loss.

• International Journal of Internet, Broadcasting and Communication
• /
• v.11 no.3
• /
• pp.59-63
• /
• 2019

VoIP technology is a technology for exchanging voice or video data through IP network. Various protocols are used for this technique, in particular, RTP(Real-time Transport Protocol) protocol is used to exchange voice data. In recent years, with the development of communication technology, there has been an increasing tendency of services such as "Kakao Voice Talk" to exchange voice and video data through IP network. Most of these services provide a service with security guarantee by a user authentication process and an encryption process. However, RTP protocol does not require encryption when transmitting data. Therefore, there is an exposition risk in the voice data using RTP protocol. We will present the risk of the situation where packets are sniffed in VoIP(Voice over IP) communication using RTP protocol. To this end, we configured a VoIP telephone network, applied our own sniffing tool, and analyzed the sniffed packets to show the risk that users' data could be exposed unprotected.

• Communications for Statistical Applications and Methods
• /
• v.26 no.2
• /
• pp.103-129
• /
• 2019

The main goal of a case-control study is to learn the association between various risk factors and a primary outcome (e.g., disease status). Particularly recently, it is also quite common to perform secondary analyses of the case-control data in order to understand certain associations between the risk factors of the primary outcome. It has been repeatedly documented with case-control data, association studies of the risk factors that ignore the case-control sampling scheme can produce highly biased estimates of the population effects. In this article, we review the issues of the naive secondary analyses that do not account for the biased sampling scheme, and also the various methods that have been proposed to account for the case-control ascertainment. We additionally compare the results of many of the discussed methods in an example examining the association of a particular genetic variant with smoking behavior, where the data were obtained from a lung cancer case-control study.

• Proceedings of the Korean Institute of Building Construction Conference
• /
• 2020.06a
• /
• pp.218-219
• /
• 2020

The risk of a fire in a building is closely related to the usage of the building. In particular, all fires that occur in a building are not risky to safety of human life, and it is associated with the combustion area and the increase of total floor area of the building. Therefore, this study focused on safety of human life in terms of the statistics of fire with considering the aspect of growing fires and analyzed the statistical data of fire for 10 years. As for the analysis on fire, the time of occurrence by usages of buildings, frequency of occurrence and the ratio of casualties etc. were analyzed. It is expected that results of this study could be used for evaluations on a variety of parts in terms of design, construction and maintenance of buildings.

• Journal of Environmental Health Sciences
• /
• v.42 no.6
• /
• pp.419-429
• /
• 2016

Objectives: According to the new Chemical Control Act from the Korean Ministry of Environment (2014-259), workers handling hazardous chemicals should wear personal protective equipment (PPE). However the act simply states in basic phrases that every worker handling one or more of the 69 listed chemicals should wear PPE and does not consider the unique hazard characteristics of chemicals and work types. The main purpose of this study is to provide basic data to revise the act to suit particular work processes and situations. Methods: The hazard rank of the substances was classified based on hazardous characteristics such as LC50 and vapor pressure using matrix analysis. The workplace exposure risk of the substances was also determined through a matrix analysis based on the previously determined hazard ranks and the demands of manual handling together with the likelihood of accident frequency of the operation combined with the exposure of workers during spill accidents. Results: To meet the demands for developing subsequent guidelines for the risk-based application of PPE in hazardous workplaces, this study sorted the 69 listed chemicals into five hazardous categories based on their LC50 and vapor pressures, and also assigned exposure categories according to exposure vulnerability for various types of work which are frequently performed throughout the life cycle of the chemicals. Conclusion: In the next study, an exposure risk matrix will be produced using the hazard rank of chemicals and workplace exposure risk, and then PPE will be selected to suit the categories of the exposure risk matrix.

• Earthquakes and Structures
• /
• v.6 no.1
• /
• pp.19-43
• /
• 2014

A risk assessment framework for evaluating building structures is implemented in this study. This framework allows considering sources of uncertainty both on structural capacity and seismic demand. In particular randomness on seismic load, incident angle, material properties, floor mass and structural damping are considered; in addition the choice of fibre modelling versus plastic hinge model is also considered as a source of uncertainty. The main objective of this work is to study the contribution of these sources of uncertainty on the fragilities of steel and steel-reinforced concrete composite 3D building structures. The fragility curves are expressed in the form of a two-parameter lognormal distribution where vertical statistics in conjunction with metaheuristic optimization are implemented for calculating the two parameters.

• Safety and Health at Work
• /
• v.12 no.2
• /
• pp.261-267
• /
• 2021

Background: The series of serious industrial accidents in recent years at contractors to large companies has highlighted risk outsourcing as a real and urgent problem. This study aims to review the difference in the degree of risk exposure and the occurrence of industrial accidents depending on the type of company relations. Among in-house contractors, the focus will be on those handling hazardous chemicals that include companies for which outsourcing requires approval. Methods: This study uses the 9th wave of the Industrial Safety and Health Survey (2018). For determining the degree of risk exposure, the occurrence of industrial accidents, and industrial accident rate, multivariate, logistic, and fractional logit, regression analyses were used, respectively. Results: First, In-house contractors' degree of risk exposure is higher than that of the client companies. In particular, this gap is even greater for companies dealing with chemicals. Second, among only those that handle hazardous chemicals, in-house contractors do show a significantly higher rate of industrial accident occurrence. Third, In-house contractors have a significantly higher rate of industrial accidents from diseases than client companies. Conclusion: The analysis supports the intent of the legal amendment that strengthens the protection of in-house contracted workers who handle hazardous chemicals. Second, the results of this study suggest that safety and health management must go beyond legal compliance and ensure that it has substance and effectiveness. Last, there should be policy consideration is necessary to reduce attempts to hide industrial accidents.

• Journal of the Korean Society of School Health
• /
• v.36 no.3
• /
• pp.82-91
• /
• 2023

Purpose: This study aims to identify gender-based differences in factors related to smartphone overdependence among middle school students. Methods: The subjects of the study were middle school students who participated in the 16th Korea Youth Risk Behavior Survey (2020). Frequency analysis, the Rao-Scott χ² test, and multiple logistic regression were performed using SPSS 27.0. Results: Identified risk factors were grade level, self-reported health, self-reported happiness, loneliness, smoking, drinking, poor sleep quality, physical activity, and generalized anxiety disorder, which were commonly found in all participants. Additionally, stress was found related only in boys, while the residential area and depression showed associations only in girls. In particular, the more severe was the level of generalized anxiety disorder, the higher was the risk ratio of the high-risk group, compared to the potential-risk group. Conclusion: Based on the findings of the study, a customized strategy that considers gender differences should be developed in order to prevent smartphone overdependence in middle school students.

• Nutrition Research and Practice
• /
• v.6 no.1
• /
• pp.78-85
• /
• 2012

Whether the $FTO$ polymorphisms interact with environmental factors has not yet been evaluated in associations with metabolic syndrome (MS) risk. The present study investigated the association of the $FTO$ rs9939609 genotypes, body mass index (BMI), and lifestyle-related factors including smoking, alcohol drinking, physical activity, and diet with MS incidence. A population-based prospective cohort study comprised 3,504 male and female Koreans aged 40 to 69 years. At the beginning of the study, all individuals were free of MS and known cardiovascular disease. Incident cases of MS were identified by biennial health examinations during a follow-up period from April 17, 2003 to April 15, 2009. Pooled logistic regression analysis was applied to obtain relative odds (RO) of MS with its 95% confidence interval (CI). After controlling for potential MS risk factors, we observed no association between the rs9939609 genotypes and MS incidence. In analysis stratified by BMI, however, carriers with the $FTO$ risk allele whose BMI is $29kg/m^2$ or greater showed an approximately 6-fold higher RO (95% CI: 3.82 to 9.30) compared with non-carriers with BMI less than $25kg/m^2$. In particular, the association between the rs9939609 variants and MS risk was significantly modified by high BMI (P-value for interaction < 0.05). Such significant interaction appeared in associations with central obesity and high blood pressure among the MS components. Because carriers of the $FTO$ risk alleles who had BMI of $29kg/m^2$ or greater are considered a high risk population, we suggest that they may need intensive weight loss regimens to prevent MS development.