• Asia pacific journal of information systems
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• 제17권4호
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• pp.113-132
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• 2007

Price rigidity involves prices that do not change with the regularity predicted by standard economic theory. It is of long-standing interest for firms, industries and the economy as a whole. However, due to the difficulty of measuring price rigidity and price adjustments directly, only a few studies have attempted to provide empirical evidence for explanatory theories from Economics and Marketing. This paper proposes and validates a research model to examine different theories of price rigidity and to predict what variables can explain the observed empirical regularities and variations in price adjustment patterns of Internet-based retailers. I specify and test a model using more than 3 million daily observations on 385 books, 118 DVDs and 154 CDs, sold by 22 Internet-based retailers that were collected over a 676-day period from March 2003 to February 2005. I obtained a number of interesting findings from the estimation of our logit model. First, quality seems to play a role-I find that both price levels as proxies for store quality, and information on the quality of a product consumers have, affect online price rigidity. Second, greater competition(i.e., less industry concentration) leads to less price rigidity(i.e., more price changes) on the Internet. I also find that Internet-based sellers more frequently change the prices of popular products, and the sellers with broader product coverage change prices less frequently, which seem due to economic forces faced by these Internet-based sellers. To the best of my knowledge, this research is the first to empirically assess price rigidity patterns for multiple industries in Internet-based retailing, and attempt to explain the variation in these patterns. I found that price changes are more likely to be driven by quality, competitive and economic considerations. These results speak to both the IS and economics literatures. To the IS literature these results suggest we take economic considerations into account in more sophisticated ways. The existence and variation in price rigidity argue that simplistic assumptions about frictionless and completely flexible digital prices do not capture the richness of pricing behavior on the Internet. The quality, competitive and economic forces identified in this model suggest promising directions for future theoretical and empirical work on their role in these technologically changing markets. To the economics literature these results offer new evidence on the sources of price rigidity, which can then be incorporated into the development of models of pricing at the firm, industry and even macro-economic level of analysis. It also suggests that there is much to be learned through interdisciplinary research between the IS, economics and related business disciplines.

• KDI Journal of Economic Policy
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• 제40권3호
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• pp.45-68
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• 2018

We uncover a nexus between actual inflation, inflation perceptions and expectations in Korea through analyzing micro as well as aggregate data from the Consumer Survey. We document two novel findings. First, households' subjective perceptions of inflation exert more impact on expectation formation than actual inflation. Second, inflation perceptions are broadly in line with the trajectory of the inflation trend. This is attributable to the fact that changes in actual inflation have been generated mainly by the consumption items whose price changes are perceived more sensitively as those items are frequently bought or have a larger share in household expenditures. Conducting a cross-country comparison, we find that information rigidity in expectation formation process and the nexus between perceptions and expectations of inflation prove to be stronger in Korea. Additionally, we reconfirm the existing finding that the scope of information utilized for forming inflation expectations is fairly circumscribed.

• 산경연구논집
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• 제7권3호
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• pp.27-36
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• 2016

Purpose - Considering the importance of housing needs to real estate market, domestic studies on real estate prices from the perspective of demand are basically based on macro-data, but relatively few are associated with micro-data of urban real estate demand. We try to find a reliable relation of elasticity of demand and commercial housing market. Research design, data, and methodology - In this paper, we have derived housing demand theoretic method and have utilized micro-data of residential family housing survey of downtown area in Kunming City in October, 2015 to estimate income elasticity and price elasticity of housing demand respectively and make a comparative analysis. Results - The results indicate that income elasticity and price elasticity of families with owner-occupied housing are both larger than those of families with rental housing. Income elasticity of housing demand of urban residential families in Kunming is far below the foreign average and eastern coastal cities level, however, the corresponding price elasticity is far higher. Conclusions - We suggest that housing affordability of urban families in western China are constrained by the level of economic development, and the current housing price level has exceeded the economic affordability and psychological expectation of ordinary residents. Furthermore, noticing the great rigidity of housing demand, the expansion space of housing market for improvement and for commodity is limited.

• 대한치과기공학회지
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• 제28권2호
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• pp.321-329
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• 2006

The popularity of Ni-Cr-Mo based metal alloys for metal-ceramic crown have increased recently because of low price, superior yield strength and rigidity. the use of these alloys give them the potential advantage of thinner copping with the required rigidity for long span bridges. The purpose of this study was to assess the microstructures and mechanical properties of Ni-Cr-Mo-(Si,Al,Nb,Zr,Ti.Cu,Mm) based Alloys not containing beryllium(Be) related toxic effects. The abtained results indicated that as-cast these specimen alloys showed compositional and microstructural differences, and mechanical properties values of Ni69Cr20Mo5Si2Al4 alloy among these specimen alloys was found to be superior to those of commercial Ni-Cr based alloy using in market place today.

• 한국수자원학회:학술대회논문집
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• 한국수자원학회 2016년도 학술발표회
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• pp.194-194
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• 2016

Gansu, located in the northwestern region, is a typical agricultural province of arid, semiarid in China. The shortage of water resources is the biggest obstacle of Gansu Province's development, and the dry farming water-saving is the eternal theme of Gansu agricultural sustainable development. In recent years, intensify reform in Gansu, has walked out a successful way in the agricultural water-saving. Using the integrated river basin governance as opportunity, the total water-using quantity was regarded as rigidity to retrain, distributed to counties (districts), irrigated areas, towns, associations, groups step by step. Agricultural water price was substantially increased, with the surface water price from about $0.1RMB/m^3$ to more than $0.2 RMB/m^3$, and the ground water from zero to more than $0.1RMB/m^3$. Simultaneously, the difference water prices and over-quota water progression price markup were carried out. The transaction of water rights was encouraged to impel the peasant to establish the consciousness of saving-water. The regulatory documents were formulated to standardize the scope, condition, mode, program etc. of agriculture water-rights transaction, to guarantees the transaction of water rights is carries out in order. The pattern of farming was optimized and adjusted, reducing the high water-consumption crop, increasing economic crops with high benefit and low water-consumption, developing industrialized agricultures such as green house. The relative engineering and measuring facility were comprehensively improved, with the anti-seepage of canal system and the enforcement of dynamo-electric well, developing high-efficient water-saving irrigation and overall metering facilities. The water fine-grained management has realized, and obvious water-saving effect has obtained: water-using rate in the irrigation area by river water has brought up to 0.57 from 0.52, and by well water up to 0.84 from 0.76. Although the water price has increased, the proportion that the water rate expenditure accounted for the cost lasts decline, and the farmers' income has gone up. The peasants express, the used water is few, and it is few to till land, but the income is many, and life is better.

• 자원ㆍ환경경제연구
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• 제24권2호
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• pp.311-342
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• 2015

본 논문에서는 경제이론과 실증분석을 통하여 이명박 정부가 석유제품 시장에 개입한 논거를 평가하였다. 한국을 포함하여 세계적으로 정제산업은 과점이 보편적이며, 역차별적인 수준의 대외 시장개방에도 불구하고 석유제품 시장에서 국내 정유4사의 시장점유율이 높게 지속되는 이유는 정유4사가 국제적인 가격경쟁력을 보유하고 있고 MOPS 가격을 기준으로 경쟁적인 가격책정을 하고 있기 때문이다. 국내 세전 소비자가격은 일본의 가격과 '27개 EU권 국가의 가격들을 가중평균한 값'보다 통계적으로 유의하게 현저히 낮았다. 한국, 일본, 14개 EU권 국가들을 대상으로 가격 비대칭성의 존재여부와 상세내역을 분석한 결과, 휘발유의 경우 한국과 11개 EU권 국가, 경유의 경우 한국과 8개 EU권 국가에서 비대칭성이 있는 것으로 판별되었다. 가격 비대칭성은 다양한 경제 경영적 원인에 의해 다양한 제품과 시장구조에서 발생한다. 소비자 복지의 관점에서는 한국의 세전 소비자가격이 현저히 낮다는 점이 제일 중요하다.

• 국제지역연구
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• 제22권1호
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• pp.23-40
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• 2018

중국은 2000년대 들어 '삼농(三?)'문제(농민, 농업, 농촌)를 국가 최우선과제로 추진하고 있다. '삼농'문제 해결책의 하나인 농지유동은 최근 10여 년간 급속히 성장하였다. 특히 농지유동을 추진함에 따라 농촌경제가 발전하였으며 동시에 농가 생활수준도 크게 개선되었다. 그러나 전포방식 위주의 농지유동유형은 농가의 농지유출 의욕을 저해하여 궁극적으로 대규모 농지유동의 저해요인으로 작용하고 있다. 본 논문은 중국 농가의 농지유동유형 영향요인과 농지유동가격 결정요인을 분석하였고, 그 결과를 토대로 다음과 같은 시사점을 찾았다. 첫째, 농가들이 입고방법으로 농지를 유출하도록 지도해야 하고; 둘째, 계약기간을 장기화해야 하며; 셋째, 작물별 농지유동 대응책을 마련해야 하고; 넷째, 농지유출 농가에 대해 교육프로그램을 구축해야 한다.

• Industrial Engineering and Management Systems
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• 제9권2호
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• pp.107-120
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• 2010

In today's uncertain economic environment, the evaluation of safety for investment alternatives is of practical importance in manufacturing companies. This paper examines a method of quantitatively evaluating profitability and risk for multiple alternatives using the total-cost unit-cost domain. The paper assumes such factors as unit sales price, sales and production volume, unit variable cost, fixed cost, and yield for each alternative. The paper incorporates the relationship between production capacity and demand, distinguishing between cases of production capacity surplus and shortage for each year over the entire planning horizon. The paper investigates the case in which the values of each factor independently move in the direction of decreasing profit each year, and clarifies the procedure of comparing safety among multiple investment alternatives on a single consolidated total-cost unit-cost domain. The difficulty of the problem lies in the method of consolidating multiple total-cost unit-cost domains into a single domain since the combination of years of capacity surplus and shortage depends upon the change values in each factor under consideration. A systematic method of evaluating profitability as well as risk is presented, and the validity of the proposed method is verified using a numerical example.

• 대한건축학회논문집:구조계
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• 제35권1호
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• pp.29-36
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• 2019

In the past, social insurance premiums, such as national pension and national health insurance, is contained within the costs of construction projects, have been lowered due to price competition of companies participating in the bidding. The government is implementing the "Ex-post settlement system" to improve the problem. Therefore, the purpose of this study is to examine the concept of an Ex-post settlement system and background of its introduction and to identify problems in the management of the system. The problems of the Ex-post settlement system are: 1) avoiding the participation of construction workers, 2) the rigidity of the insurance premium settlement method in construction field, and 3) the cause of direct construction cost reduction. The ways to improve these problems are: 1) excluding social insurance premiums from construction project cost, 2) securing flexibility of the settlement method of insurance premiums in construction field, and 3) expanding the scope of persons eligible to participate in social insurance.

• 패션비즈니스
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• 제20권3호
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• pp.119-132
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• 2016

Weighting of silk fabrics have long been practiced in silk fabric trading based on the primary consideration of price-weight, and secondary one of quality improvement in handle, luster, and drape properties. Recent trend of practicing weighting of silk fabrics is, however, focused on the improvement of the handle, luster, drape, and other properties. During the finishing processes of synthetic fiber, nylon, comprising amide structure, include the use of tannic acid, especially in the dyeing. A multitude of studies are being implemented in terms of improving fastness to washing, fastness to light of dyed nylon product, or the light fastness of nylon 6 itself. In this study, the effects of various tannic acid treatments on the physical properties related to the handle of nylon 6 and silk fabrics are examined and reviewed. The effects of treatment condition of the tannic acid, e.g., the concentration of the aqueous tannic acid solution, treatment time, and temperature were investigated. As the concentration of the aqueous solution of tannic acid increased, the bending rigidity values of the silk and nylon 6 fabrics increased. The treated fabrics felt stiff to the touch. Within the mild conditions of bending employed in the bending measurement of KES, nylon 6 treated fabric specimen exhibited a trend of improvement of bending resiliency within the range of small bending deformation. The weight of treated fabrics have all increased. The air-permeability values decreased as the treatment concentration increased. However, the decrease tendency of air permeability values may be alleviated by adjusting the fabric count during the tentering or expanding processes, either by tension adjustment or heat treatment. Optimum conditions of the treatment for nylon 6 are 1.25% tannic acid concentration, bath temperature of $85^{\circ}C$, pH 3.1, and those for silk fabric treatment are 1.25% tannic acid concentration, bath temperature of $85^{\circ}C$, pH 3.1. The treatment conditions will lead to the improvement in the properties of fabrics for summer.