• The Journal of Fisheries Business Administration
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• v.37 no.1 s.70
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• pp.95-110
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• 2006

Japan's frozen shrimp future market is the only fisheries future commodity market in the world. This empirical study examines the lead and lag relationship between Japan frozen shrimp spot and future markets using the daily prices from August 1, 2002 to December 31, 2005. Frozen shrimp future contract is listed on Japan Kansai Commodities Exchange. Japan imports approximately 250,000 tons of frozen shrimp annually, of which just under 70,000 tons, nearly 30%, are black tiger shrimp. Approximately 90% of black tiger shrimp are caught in Indonesia, India, Thailand and Vietnam, and the two largest consumers of these shrimp are Japan and the U.S.A. Kansai Commodities Exchange adopts the India black tiger shrimp as standard future commodity. We use unit root test, Johansen cointegration test, Granger causality test, Vector autoregressive analysis and Impulse response analysis. However, considering the long - term relationships between the level variables of frozen shrimp spot and futures, we introduced Vector Error Correction Model. We find that the price change of frozen shrimp futures with next 1, 2, 3, 4, 5 month maturity have a strong predictive power to the change of frozen shrimp spot and the change of frozen shrimp spot also have a predictive power to the change of frozen shrimp with next 1, 2, 3 month maturity. But, the explanatory power of the frozen shrimp futures is relatively greater than that of frozen shrimp spot.

• Journal of Navigation and Port Research
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• v.41 no.2
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• pp.63-70
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• 2017

Despite the remarkable continual growth of the world cruise industry, studies have yet to be attempted on many revenue management problems in cruise operations. This paper suggests two schemes that can be easily applied to cruise revenue management: optimal dual pricing and passenger safety level. In optimal dual pricing, a pair of higher and lower prices is applied to cabin reservation through market segmentation. This scheme can be executed with a linear price-response function for the current unreserved cabins. A cruise line could benefit from this scheme to maximize reservation revenue while attaining full occupancy. The dual pricing scheme is also devised to produce only integer demands to suit real management practices. The life boat capacity is an additional service capacity unique to the cruise industry, catering to passengers' safety. The concept of passenger safety level is defined and computed for any passenger life boat capacity of a cruise ship. It can be used to evaluate the passenger safety of a cruise ship in operation, as well as to determine the number of life boat seats required for a new cruise ship. Hypothetical examples are used to illustrate the operation of these two schemes.

• Korean journal of food and cookery science
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• v.23 no.6
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• pp.930-939
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• 2007

The purpose of this study was to suggest ways for practical food coordination, by examining restaurant-visitor' expectation factors for food coordination in restaurants. Statistical analyses were carried out based on the statistical data collected via survey from the restaurant. visitors. For the data analysis, factor analysis, reliability analysis, frequency analysis, t-test, and ANOVA were applied, using the SAS 9.1(ver.) program. In the results for the general perception of food coordination, the degree of recognition by restaurant visitors for food coordination is not high. However, necessity for food coordination is highly recognized and a 70% of the respondents were positive in their response about an expropriation price. Fitty percent of the respondents indicated a positive response regarding the relationship between the visual effect of the food and a re-visit to the restaurant. Therefore, most restaurant visitors believe food coordination is necessary in restaurants, and expect to pay for it in price.

• Advances in Energy Research
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• v.7 no.2
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• pp.85-100
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• 2020

Distributed energy resources (DERs) are essential for coping with growing multiple energy demands. A microgrid (MG) is a small-scale version of the power system which makes possible the integration of DERs as well as achieving maximum demand-side management utilization. Hence, this study focuses on the analysis of optimal power dispatch considering economic aspects in a multi-carrier microgrid (MCMG) with price-responsive loads. This paper proposes a novel time-based demand-side management in order to reshape the load curve, as well as preventing the excessive use of energy in peak hours. In conventional studies, energy consumption is optimized from the perspective of each infrastructure user without considering the interactions. Here, the interaction of energy system infrastructures is considered in the presence of energy storage systems (ESSs), small-scale energy resources (SSERs), and responsive loads. Simulations are performed using GAMS (General Algebraic modeling system) to model MCMG, which are connected to the electricity, natural gas, and district heat networks for supplying multiple energy demands. Results show that the simultaneous operation of various energy carriers, as well as utilization of price-responsive loads, lead to better MCMG performance and decrease operating costs for smart distribution grids. This model is examined on a typical MCMG, and the effectiveness of the proposed model is proven.

• The Korean Journal of Food & Health Convergence
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• v.7 no.2
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• pp.1-10
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• 2021

The purpose of this study is to examine the impact of the service quality of delivery food on customers' emotional response and repurchase intention during the COVID19 pandemic. The proposed research model examined the effect on the service quality, customer sentiment response, and repurchase intention of delivery food. A questionnaire was distributed and measured for 300 consumers who had experience using food delivery services in the last 30 days. The questionnaires from previous researches were revised to fit the purpose of the present study. The survey results were analyzed to verify the reliability and validity of the measured variables. To verify the hypotheses a Structural Equation Modelling (SEM) was used for the study. The results showed that taste, price fairness, and package design positively affected emotional response; moreover, repurchase intention was enhanced by emotional response. This research analyzed the relationships between service qualities of delivery food, emotional response, and repurchase intention when customers consume delivery food during COVID19 in Korea. This study extends the delivery food literature by combining customers' emotional behavior with SEM model. The result suggested competitive strategic plans and development directions of food delivery companies in the rapidly increasing food delivery industry, providing implications for further research.

• Journal of Advanced Technology Convergence
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• v.3 no.2
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• pp.17-23
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• 2024

In this paper, we analyzed the impact of temperature and precipitation on agricultural product prices and predicted the prices of major agricultural products using TensorFlow. As a result of the analysis, the rise in temperature and precipitation had a significant effect on the rise in prices of cabbage, radish, green onion, lettuce, and onion. In particular, prices rose sharply when temperature and precipitation increased simultaneously. The prediction model was useful in predicting agricultural product price changes due to climate change. Through this, agricultural producers and consumers can prepare for climate change and prepare response strategies to price fluctuations. The paper can contribute to understanding the impact of climate change on agricultural product prices and exploring ways to increase the stability and sustainability of agricultural product markets. In addition, it provides important data to increase agricultural sustainability and ensure economic stability in the era of climate change. The research results will also provide useful insights to policy makers and can contribute to establishing effective agricultural policies in response to climate change.

• Journal of Industrial Convergence
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• v.22 no.5
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• pp.11-21
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• 2024

In the steel industry, there is a perception that "collusion has become a long-standing practice" and it is expected that the authorities' legal response to collusion will be strengthened in the future. This necessarily requires improving the accuracy of the legal response, the most important of which is to accurately identify whether the allegedly colluding firms actually did collude. This study focuses on the recent iron scrap price-fixing case and examines whether a single accused firm actually engaged in price-fixing in a situation where there is a mix of firms that acted independently of the collusion and firms that actually engaged in price-fixing. The results of the analysis allow us to infer that the accused steelmaker did not actually collude, which is consistent with the authorities' final judgment against the steelmaker. In the real world, some collusions are carried out by only a subset of firms in a market, and in these cases, there are often disputed firms as to whether or not they carried out the collusion. This study can serve as an analytic guide for industries, including the steel industry, to verify the behavior of individual firms, especially those whose collusive practices are disputed.

• Environmental and Resource Economics Review
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• v.24 no.4
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• pp.727-745
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• 2015

This paper analyzes the firms' optimization behavior in response to rising demand for non-priced renewable energy in the manufacturing industries by using an input distance function. The annual estimates of the shadow price of renewable energy is derived and the trend of its shadow price over time is analyzed. The degree of substitution of renewable energy for fossil-fuels is examined. The input-based Malmquist productivity index, defined as a composite of the technical efficiency and technical change measures, is measured. The contribution of renewable energy input growth to the Malmquist index is analyzed. Empirical results indicate that the shadow price of renewable energy declined at an average annual rate of 17% over the period 1992-2012. Substitutability between renewable energy and fossil-fuels was limited. On average, a 1% increase in renewable energy would decrease Malmquist index by 0.04% per year.

• Journal of the Korean Society of Food Culture
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• v.13 no.5
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• pp.423-430
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• 1998

The purposes of this study were to (a) measuring attitude and satisfaction of Yonsei university students towards contracted vs. rented university foodservices, (b) determine university students' overall satisfaction & perception regarding the factors improved towards university foodservice and (c) provide recommendation on marketing strategies for university foodservices. Questionnaires were hand delivered to 600 Yonsei University students by designated coordinators. A total of 549 questionnaires were usable; resulting in an 93% response rate. The survey was conducted between October 12 to October 18, 1995. Statistical data analysis was completed using the SAS Programs for descriptive analysis, T-test, ${\chi}^2-test$, ANOVA, Factor Analysis and Stepwise Multiple Regression. The results of this study can be summarized as follows: 1. Performance mean score for contracted foodservice management in terms of food, menu, price, hygiene, facilities was higher than for rented foodservice management. 2. The average satisfaction score for contracted foodservice management in terms of price was lower than for rented foodservice management. There was no gap between contracted foodservice management and rented foodservice management in overall satisfaction score and price satisfaction score. 3. Perception regarding the factors improved of thirteen factors to be improved except operating hours, waiting time, price, food quantity were perceived as better by students. 4. Perception regarding the factors improved have correlation with foodservice qualify attribute's performance. 5. According to multiple regression analysis, 92.05% of the variance in respondents' satisfaction score could be explained by procedure after meal, purchasing procedure, operating hours, availability of breakfast, waiting time, atmosphere, price, facilities, service endeavor to survey satisfaction in foodservice, availability of kitchen and wall space, portion size, taste of food, change of cafeteria name, the number of seats, and variety of menu.

• Journal of Korea Trade
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• v.25 no.1
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• pp.34-46
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• 2021

Purpose - This paper aims to analyze the impact of the terms of trade, export price, and import price on the Korean economy (that is, real GDP, CPI, money market rate, and real effective exchange rate), and vice versa in the simple vector autoregression. Design/methodology - We impose two assumptions, i.e., diagonality and bloc exogeneity, to correctly identify the impact of a factor to the others in the structural equation. With two contemporaneous assumptions in the structural VAR, this paper investigates the impacts of the terms of trade on the Korean economy and vice versa. Findings - Impulse responses to the shocks in the terms of trade and Korean economy show that 1) an impact of the terms of trade on the economy is different in export prices and in import prices. A higher export price is beneficial to the economy while a higher import price hurts the economy, and 2) an increase in real effective exchange rate and in interest rate constrains domestic production and lowers consumer prices. Originality/value - Unlike the conventional perception that a depreciation of a currency would promote exports and domestic production at the price of inflation, our result shows the opposite, and 3) real GDP and consumer prices are positively correlated. That is, an increase in real GDP does not only cause inflation, but an increase in consumer prices also promote domestic production. Yet, the only difference is that export prices and import prices end up higher with an increase in real GDP, but lower with inflation.