• Journal of Global Scholars of Marketing Science
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• v.13
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• pp.71-88
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• 2004

Although the factors that affect the width of latitude of price acceptance is well documented, the attempt to develop a practice-oriented methodology to calibrate the region of price insensitivity (i.e., a latitude of price acceptance) for a given individual brand has been relatively rare. The researcher aims to try to full this gap by developing a conjoint analysis-based procedure that can be applied to many industries. Furthermore, we examine the difference in the latitude of price acceptance between on- and off-line transaction in stock industry in Korea. The conjoint analysis-based procedure was applied to measure the disaggregate price response curve for individual stock investment both on- and off line transaction channel. The curves from the samples enable us to estimate the individual choice probabilities corresponding to applied price points. Using t-test the differences in mean choice probabilities between the list price and another price point were tested, through which we can get the latitude of price acceptance for a given brand in stock market. These procedures were tested in on- and off-line stock market in South Korea. The results showed that investors on off-line channel have wider latitudes of price acceptance than the investors on on-line transaction system.

• Proceedings of the Korean Society for Applied Microbiology Conference
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• 2004.06a
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• pp.282-287
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• 2004

• The Transactions of The Korean Institute of Electrical Engineers
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• v.65 no.9
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• pp.1577-1582
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• 2016

Now we are facing severe environmental issues such as global warming. Due to these, the concerns about eco-friendly energy have been increased. Kyoto protocol and Copenhagen climate change conference are circumstantial evidence of it. With these trends, the interests for the Electric Vehicles(EVs) which do not emit any harmful gases have gradually been raised. Unfortunately, however, massive connection of EVs to the power system could cause negative impacts such as voltage variations, frequency variations and increase of demand power. To prevent the mentioned issues, KEPCO adopts Time-of-Use(ToU) price for EVs charging. Nevertheless, it is important to verify the propriety of the charging system. In this paper, therefore, we used pre-introduced price elasticity concept to predict possible Demand Response(DR) on charging of EVs. And analyzed possible demand power increase according to various price elasticities. Simulation results show that given ToU based charging system would not enough to control the increase of demand power by EVs on the power system. It is concluded, therefore, additional methods and/or algorithms are required.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.54 no.2
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• pp.79-87
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• 2005

At present Cournot model is one of the most commonly used theories to analyze the gaming situation in oligopoly market. But there exist several problems to apply this model to electricity market. The representative one is to obtain the inverse demand curve able to be induced from the relationship between market price and demand response. In Cournot model, each player offers their generation quantity to accomplish maximum profit, which is accomplished by reducing their quantity compared with available total capacity. As stated above, to obtain the probable Cournot equilibrium to reflect real market situation, we have to induce the correct demand function first of all. Usually the correlation between price and demand appears on the long-term basis through the statistical data analysis (for example, regression analysis) or by investigating consumer utility functions of several consumer groups classified as residential, industrial, and commercial. However, the elasticity has a tendency to change continuously according to the total market demand size or the level of market price. Therefore it should be updated as trading period passes by. In this paper we propose a method for inducing and updating this price elasticity of demand function for more realistic market equilibrium.

• KIEE International Transactions on Power Engineering
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• v.5A no.4
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• pp.403-411
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• 2005

At present, the Cournot model is one of the most commonly used theories to analyze the gaming situation in an oligopoly type market. However, several problems exist in the successful application of this model to the electricity market. The representative one is obtaining the inverse demand curve able to be induced from the relationship between market price and demand response. In the Cournot model, each player offers their generation quantity to obtain maximum profit, which is accomplished by reducing their quantity compared with available total capacity. As stated above, to obtain the probable Cournot equilibrium to reflect the real market situation, we have to induce the correct demand function first of all. Usually the correlation between price and demand appears over the long-term through statistical data analysis (for example, regression analysis) or by investigating consumer utility functions of several consumer groups classified as residential, industrial, and commercial. However, the elasticity has a tendency to change continuously according to the total market demand size or the level of market price. Therefore it should be updated as the trading period passes by. In this paper we propose a method for inducing and updating this price elasticity of demand function for more realistic market equilibrium.

• Journal of the Korean Society of Clothing and Textiles
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• v.27 no.5
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• pp.475-484
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• 2003

The objectives of this study were to investigate the consumers' general perceptions and attitudes in response to the leaflet fashion advertisements, and to examine how much differently the level of price and the advertisement type affect brand images and consumers' buying intentions. Subjects for this study were 192 female university students in the twenties. Through the pre-test, several casual brands with such various the level of price as high, middle. and low were selected. Stimuli consisted of 8 photographs of the advertisements types which were manipulated according to the price level(highㆍmiddle & low) and the advertisements type(generalㆍleaflet). The results showed that consumers got the information on the fashion products mostly from the advertisements in magazines. It was also found that consumers showed the highest interests on the design and the discount rate of prices in the leaflet fashion advertisements. The price range(highㆍmiddle & low) of casual brands had significantly affected on the brand image and the consumers' buying intention. And the higher the prices of casual brands were, the worse brand images were when products were advertised by fashion leaflets. The advertisements types(generalㆍleaflet) gave some influences only on the brand image. Based on these results, marketing strategies of fashion advertising would be ,suggested.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.6 no.12
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• pp.3133-3151
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• 2012

The optimal price strategy selection of two bounded rational cognitive mobile virtual network operators (MVNOs) in a duopoly spectrum sharing market is investigated. The bounded rational operators dynamically compete to sell the leased spectrum to secondary users in order to maximize their profits. Meanwhile, the secondary users' heterogeneous preferences to rate and price are taken into consideration. The evolutionary game theory (EGT) is employed to model the dynamic price strategy selection of the MVNOs taking into account the response of the secondary users. The behavior dynamics and the evolutionary stable strategy (ESS) of the operators are derived via replicated dynamics. Furthermore, a reward and punishment mechanism is developed to optimize the performance of the operators. Numerical results show that the proposed evolutionary algorithm is convergent to the ESS, and the incentive mechanism increases the profits of the operators. It may provide some insight about the optimal price strategy selection for MVNOs in the next generation cognitive wireless networks.

• Science of Emotion and Sensibility
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• v.7 no.1
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• pp.29-40
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• 2004

Even though rhythm is considered theoretically and practically as a form element influencing consumer's aesthetic response on product design, researches on it relatively less performed than other product aesthetic elements. And also existing researches have only suggested rhythm as one of aesthetic elements in product design but they haven't suggested overall insight on how to apply rhythm into product design. This study tested how rhythm expression in product design affects consumer's aesthetic response according to price level and brand hierarchy. The result shows that rhythm is clearly one of aesthetic elements. And rhythm expression increase consumer's aesthetic response in low priced product condition regardless of brand hierarchy. But in high priced product condition, rhythm expression decreases consumer's aesthetic response because of perceived risk. Only when in high prestige brand condition, consumer's aesthetic response remains high because of trade-off relationship between perceived risk and brand equity. The result of this study enables designers to understand characteristics of rhythm. Also, the result can give companies the useful way on how to use rhythm element as a strategic tool if they consider their brand equity level and product's price level.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.60 no.6
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• pp.1091-1096
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• 2011

Currently, the concern about the environment is the issue all over the world, and in particular, carbon emissions of the power plants will not be able to disregard from the respect of generation cost. This paper proposes DR (demand response) as a method of reducing carbon emissions and therefore, carbon emissions cost. There are a number of studies considering DR, and in this paper, the effect of DR is focused on the side of carbon emission reduction effect considering Time-Of-Use (TOU) program, which is one of the most important economic methods in DSM. Demand-price elasticity matrix is used in this paper to model and analyze DR effect. Carbon emissions is calculated by using the carbon emission coefficient provided by IPCC (Intergovernmental Panel on Climate Change), and generator's input-output characteristic coefficients are also used to estimate carbon emission cost as well as the amount of carbon emissions. Case study is conducted on the RBTS IEEE with six buses. For the TOU program, it is assumed that parameters of time period partition consist of three time periods (peak, flat, off-peak time period).

• The Journal of Asian Finance, Economics and Business
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• v.4 no.2
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• pp.5-17
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• 2017

The main objective of the study is to measure the vulnerability of Indonesia's financial system stability in response to external shocks, including from regional economies namely three biggest Indonesia major trading partners (China, the U.S and Japan) and other external factors (oil price and the federal funds rate). Using Autoregressive Distributed Lag (ARDL) model and Orthogonalized Impulse Response Function (OIRF) with quarterly data over the period Q4 2002 - Q1 2016, results confirm that, 1) oil price response has the largest effect to Indonesia financial stability system and the effect period is the longest compared to others, represented by NPL and IHSG; 2) among those three economies, only China's economic growth has significantly positive effect to Indonesia financial stability system. Based on the findings it is better for the authorities to: 1) Diversify international trade commodities by decreasing share of oil, gas, and mining export and boosting other potential sectors such as manufacture, and fisheries; 2) Ensure the survival of Indonesia large coal exporter companies without neglecting burden of national budget; and 3) Create buffer for demand shock from specific countries by diversifying and increasing share of trading from other countries particularly from ASEAN member states.