• The Journal of Fisheries Business Administration
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• v.44 no.1
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• pp.59-70
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• 2013

The purpose of this paper is to integrate various models of price formation and let the data choose the most proper model. After the data choose the proper model, one can analyze the price formation process and demand structures for fishery resources under the restriction of Korean fisheries regulations. This study suggests the integrated model including quasi-linear price formation model, Translog price formation model, AIDS price formation model and Lewbel price formation model as level variables. It also suggests another integrated model including AIDS price formation model, Rotterdam price formation model, Latinen-Theil price formation model and Neves price formation model as difference variables. The empirical results show that the AIDS price formation model is the most preferred in both level and difference variables of fishery resources. The estimated parameters show that all sample species have (-) sign of price flexibilities, thus following the law of demand. The scale flexibilities of all species are estimated as (-) sign, thus being adapted to the theory. The contribution and results are summarized as follows. First, the integrated model of fishery market demand has been developed and the data can choose the proper model without arbitrary choice of the researcher. Second, the fishery market demand structure could be analyzed in a way different from the ordinary demand analysis, which is based upon price flexibility and scale flexibility. Third, the integrated model for fishery resources can be used easily when catching restrictions are imposed by policies.

• The Journal of Fisheries Business Administration
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• v.40 no.1
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• pp.133-152
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• 2009

The purpose of this paper is to model price formation and analyze demand structures for fishes under the restriction of Korean fisheries regulations. This study suggests the model that the price of fish is formed by its quantity, expenditure, and habit persistence. In economic literature, such a fishery market demand is called the inverse demand with dynamic habit persistence. Based upon a static differential price formation model, the paper has generalized it dynamically incorporating habit persistence effects. The empirical results show that all the species have values less than one and (-) sign of price flexibilities, thus being price inflexible. The estimated habit adjustment coefficients are significant at the level of 1%. Especially, TAC species have the smaller values of them than those of other main fish species. The contribution and results are summarized as follows. First, the fishery market demand has a strong dynamic effects from habit persistence. Second, the fishery market demand structure could be analyzed in a way different from the ordinary demand analysis, which is based upon price flexibility, scale flexibility, and cross adjustment flexibility. Third, the limitation of this paper is that it ignores the increasing stock effects by catching restrictions, thus raising consumers' benefit in the future.

• Journal of the Korean Society of Costume
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• v.34
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• pp.37-56
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• 1997

The Korean Apparel industry has played an significant role for the econom-ic development in Korea which is mainaly due to the apparel exports to the world market. However the Koran apparel industry has confronted drastic changes in domestic and also in international market for the last several years. Korean apparel products have lost price competitiveness in international market because domestic labor costs have increased so fast and al-so newcomers such as China or other Asian countries have emerged as compet-itive producers. Furthermore domestic market has been saturated with the Korean apparel manufacturers and also with the foreign retailers. Therefore the Korean apparel industry should establish market-ing strategies in order to regain competitiveness. This study aims to analyze the factors for non-price competitiveness of Korean apparel industry and propose the way to regain competitiveness form the buyers' point of view. The present study utilize the survey data for the internet database which is established by the Cotton Incorporated. The results show that the Korean apparel industry is not competitive in terms of non-price factors such as minimum orders terms of payment preproduction stage use of new technolo-gy and lead times. These factors are not directly related to the price of product which is suggested to the buyers. However these are flexibility factors which play important roles in decision making process of buyers because they can reduce risks in uncertain business environment. Therefore the Korean apparel industry should establish global marketing strate-gies which can enhance non-price competitiveness as well as price competitiveness.

• Korean Journal of Organic Agriculture
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• v.23 no.4
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• pp.703-713
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• 2015

A Linear Approximated Inverse Almost Ideal Demand System, suggested by Eales and Unnevehr, is estimated with monthly data set of Korean fruits consumption. LA/IAIDS consists of 6 demand equations which correspond to domestically produced Hanrabong, overwintering mandarin, strawberry, melon and tomato with imported orange. The results indicate that price and scale flexibilities are negative, as expected. And the significance is that a 10% increase in imported orange quantity is associated with 5.5% declines in the price of Korean Hanrabong while the price of other fruits is minimally affected. In addition, the estimate of scale flexibility of Hanrabong (-2.96) is much smaller than any other fruit. Hanrabong farmer might be in the face of deficit operation as a consequence of the substitution effect if orange would be imported in accordance with the Korea-U.S. free trade agreement.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2006.11a
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• pp.435-439
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• 2006

The purposes of study is to propose a new method contract price adjustment in construction projects. The research method of this study includes a case analysis and questionnaire survey. The results of this study are as follows: 1) For improvement method of contract amount adjustment, enactment for legislation pertaining to computation methods such as military's organization through total unit cost, and price flexibility computation at the point of design modification were presented. 2) Arithmetic formulas for cases in which volume is deleted or modified below the price flexibility exemption amount or in which there is no change to quantity, at the occurrence of design modification resulting from price flexibility, were proposed.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.7
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• pp.214-221
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• 2018

The purpose of this study is to analyze the shipbuilding structure of field tangerine by ten days and by month. By estimating and analyzing the price flexibility function of field tangerines, this study determines whether the shipment control can stabilize and increase the income of field tangerine farmers and provides policy implication. Considering the overall market, a 1% increase in shipment volume indicates that the coefficient of price flexibility varies with ten days and month. The greatest decline is from late October to early January. Therefore, a greater necessity of shipment control is required during late October and early January. The coefficient of the dummy variable (DUM_Q) indicates the year in which the quality declines is statistically significant and sign. The coefficient of the dummy variable (DUM02) represents the year in which more than 7 days after the New Year holidays are in February is statistically significant and sign from early October to late January. Therefore, it can be seen that the necessity of shipment control is more required when New Year holidays are in February. The greatest decline in the coefficient of price flexibility is from October to December. Therefore, a greater necessity of shipment control is required during October and December. The signs of coefficients of DUM01 and DUM_Q dummy variable of the price flexibility function suggest that the need for shipment control is more important when quality is worse than better quality and that the necessity of shipment control is more required when New Year holidays are in February, respectively.

• The Journal of Fisheries Business Administration
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• v.41 no.2
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• pp.107-133
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• 2010

As policy makers are often concerned about dynamic effects of demand behavior and its welfare analysis by quantity changes, the paper shows how dynamic price formation systems can be built up to analyze the effect of policy options to the markets dynamically. The paper develops dynamic model of price formation for fish from the intertemporal optimization of the consumer choice problem. While the resulting model has a similar form of the error correction types of dynamic price formation system, it provides the rational demand behavior contrary to the myopic behavior of error correction demand models. The paper also develops appropriate tools of dynamic welfare analysis in quantity space using only short-run demand estimates both theoretically and empirically as a first attempt in the literature of price formation and fisheries. The empirical results of Korean fish markets show that the dynamic model and the welfare measures are reasonably plausible. The methodology and theory of this research can be applied and extended to the commodity aggregation, dynamic demand estimation, and dynamic welfare effects of regulation in the similar framework. Thus, it is hoped that this will enhance its applications to the demand-side economics.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.7
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• pp.670-676
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• 2017

The purpose of this study is to analyze the shipbuilding structure of Hallabong Tangorover ten-day and monthly intervals, to determine whether the shipment control can stabilize and increase the income of Hallabong Tangor farmers by estimating and analyzing the price flexibility function of Hallabong, and to derive the policy implication. Looking at the overall market, the 1% increase in shipment volume indicates that the coefficient of price flexibility varies with time. The largest decline is in late December and early January. The dummy variable indicating the year in which the quality drops somewhat is statistically significant from March to May, and the average of them is -0.337%. This implies a greater importance for quality control and shipment control when quality is worse than good quality. The price flexibility, which indicates price changes due to 1% increase in monthly shipment volume of Hallabong Tangor, varies with time. The coefficient of price flexibility was the highest at -0.46 in December, but prices fell slightly due to quality improvement and the increase in special demand of New Year's demand, which was -0.33% in January, -0.261% in February, -0.307% in March, and -0.318% in April. Since then, the amount of storage has been gradually exhausted, and the price flexibility has fallen slightly to -0.243% in May and -0.236% in June. DUM02, which represents the year when more than 7 days after the New Year holidays are in February is from February to June (+). This indicates that the price decrease due to increase in volume is less than that in January when the New Year is in February. This indicates a greater necessity for shipment control when New Year holidays are in January.

• Journal of Korea Technology Innovation Society
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• v.1 no.3
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• pp.374-385
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• 1998

This study is estimates telephone service demand based on empirical studies of telecommunication service demand model. First, the telephone charge(call price index) by each location and subscription fee bring about a negative effect to telephone distribution rate: while the other explanatory variables bring about a positive effect. Second, the flexibility of telephone charge in A location(relevant location) and the flexibility between the distance of A location and B location are negative values, while the flexibility of other explanatory variables is represented in a positive value. This means that the long distance call numbers from A location to B location are in inverse proportion against the phone charge(call price index) of A location and against the distance between A location and the distance of other locations except A location, while they are in direct proportion with an average call number per minute from A location to other locations except A location, and also with subscription numbers of A location, other subscribers in locations other than A location, and the total expenditures of A location.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.20 no.7
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• pp.555-561
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• 2019

This study analyzed the shipbuilding structure of House Tangerine over a ten day period and according to the month in Jeju. By estimating and analyzing the price flexibility function of House Tangerine, the aim was to determine if the shipment control can stabilize and increase the incomes of House Tangerine farmers and derive policy implications. The greatest decline in the coefficients of the ten-day price flexibility occurred in the equations from early June to late July. Therefore, the shipment control of House Tangerine is required more during early June and late July. The coefficient of DUM_Q, indicating the year in which the quality of House Tangerine is somewhat deteriorated, was statistically significant and had a (-) sign. The coefficients of DUM_SUK, indicating the year in which Chuseok (Korean Thanksgiving Day) was in October, was statistically significant and had a (-) sign in the middle and late October. The greatest decline in the coefficient of monthly price flexibility function occurred in July, June, and September. Therefore, shipment control is required more in July, June, and September. The (-) signs of the coefficients of DUM_Q and DUM_SUK suggest that the need for shipment control is more important when the quality is less than better quality and that the necessity of shipment control is required more when Chuseok is in October, respectively.