• Industrial Engineering and Management Systems
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• v.7 no.1
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• pp.44-50
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• 2008

Focusing on the exponential smoothing method equivalent to (1, 1) order ARMA model equation, a new method of estimating smoothing constant using exponential smoothing method is proposed. This study goes beyond the usual method of arbitrarily selecting a smoothing constant. First, an estimation of the ARMA model parameter was made and then, the smoothing constants. The empirical example shows that the theoretical solution satisfies minimum variance of forecasting error. The new method was also applied to the stock market price of electrical machinery industry (6 major companies in Japan) and forecasting was accomplished. Comparing the results of the two methods, the new method appears to be better than the ARIMA model. The result of the new method is apparently good in 4 company data and is nearly the same in 2 company data. The example provided shows that the new method is much simpler to handle than ARIMA model. Therefore, the proposed method would be better in these general cases. The effectiveness of this method should be examined in various cases.

• Journal of Korean Society of Water and Wastewater
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• v.27 no.5
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• pp.555-560
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• 2013

A cost analysis method for pretreament processes of a large scale seawater desalination plant was considered using a cost estimation model, WaTER (Water Treatment Estimation Routine). This model is based on cost functions of U.S. EPA to conduct economic analysis of water treatment facilities. A virtual seawater desalination plant which has pretreatment production capacity of $100,000m^3$ per day was chosen as a model plant. Dual media filtration and microfiltration systems were compared as pretreatment process, and the following reverse osmosis process was modeled. As a result, microfiltration showed a price competitiveness in condition of operating with reverse osmosis process by reducing the loads of water treatment and membrane cleaning despite it's high annual cost.

• Journal of Technology Innovation
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• v.12 no.3
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• pp.97-109
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• 2004

According to "structure-conduct-performance" paradigm in IO, market structure (concentration) determines conduct (R&D investments), and conduct yields market performance (ratio of price to marginal cost). Previous empirical studies on Schumpeter Mark I, II assumed that the explanatory variable (market structure) and the disturbance are uncorrelated in the R&D equation. In this situation, Ordinary Least Squares (OLS) estimates of the structural parameters are inconsistent, because the endogeneous variables (R&D and market structure) can be determined simultaneously. So, in this study, full information (or system methods) estimation is used to test Schumpeter hypothesis since joint estimation can as well bring efficiency gains in the seemingly uncorrelated regressions (SUR) setting.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.1242-1247
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• 2009

The sudden changes in the construction market and the progressively intensifying price wars have amplified the importance of the construction cost estimation in the initial and planning phases of construction projects. However the methodologies and process of estimating construction cost in the planning and design phase are not standardized in the domestic market, in contrast to the markets of more developed countries. Therefore this paper proposes a new approximate estimation model to be used from the initial stages of construction projects. This methodology that extracts, modifies and synthesizes comparable elements of previous cases. This will introduce the foundation for the implementation of systems with improved usability and applicability.

• International conference on construction engineering and project management
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• 2017.10a
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• pp.133-137
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• 2017

Nuclear power plants in Korea are usually built based on a duplicated model; so the project cost data of the preceding unit can be used as reference when estimating the project cost for the succeeding unit. However, since the contracting method is oriented towards the price, empirical factors such as making top-down estimations using the reverse calculation method based on the completion cost of the preceding unit is dominant. In order to develop a project cost database to resolve such problems, the detailed cost boundary of the project cost data must be categorized by project and by system. This study proposes a method to connect the code of account with the base quantities and the IAEA account, and proposes a database structure for the development of a project cost estimation system. The estimation system developed in the future is expected to utilize the proposed project cost data structure.

• Environmental and Resource Economics Review
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• v.23 no.4
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• pp.719-746
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• 2014

This study attempts to estimate the value of the water quality improvement by deriving the equilibrium price of the water pollutant emission permit for the imaginary water pollutant emission trading market. It is reasonable to say that there is already an implicit social agreement for the unit value of water pollutant, when the government set the Total Water Pollutant Loading System for the major river basin as a part of the Comprehensive Measures for Water Management, particularly for the Nakdong River Basin. Therefore, we can derive the unit value of water pollutant emission, which is already implied in the pollution allowance for each city or county by the Total Water Pollutant Loading System. Once estimated, it will be useful to the economic assessment of the water quality related projects. An imaginary water pollutant emission trading system for the Nakdong River Basin, where Total Water Pollutant Loading System is already effective, is constructed for the estimation of the equilibrium price of water pollutant permit. By estimating marginal abatement cost curve or each city or county, we can compute the equilibrium price of the permit and then it is regarded as the economic value of the water pollutant. The marginal net benefit function results from the relationship between the emission and the benefit, and then the equilibrium price of permit comes from constructing the excess demand function of the permit by using the total allowable permit of the local government entity. The equilibrium price of the permit would be estimated to be $1,409.3won/kg{\cdot}BOD$. This is within reasonable boundary compared for the permit price compared to foreign example. This permit price would be applied to calculate for the economic value of the water quality pollutants, and also be expected to use directly for the B/C analysis of the business involved with water quality change.

• Knowledge Management Research
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• v.6 no.1
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• pp.19-32
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• 2005

The reliability of technology valuation depends on, among other things, the reliability of the discount rate estimate. The weighted average cost of capital, generally accepted as discount rate, consists of cost of equity and cost of debt. The model used to estimate the cost of equity for publicly traded firms can not be used directly for small-sized venture firms. In addition, the estimation of cost of debt become very difficult, given the limited and volatile price history, because these small-sized venture firms do not have associated credit ratings. Since two kinds of cost of capital for the small-sized venture firms can not be estimated directly from market data, this study suggests statistical frame works for estimating unknown two kinds of cost of capital. The estimates of underlying cost of capital will help determine the size of appropriate discount rate with logical and scientific way when the technology valuation for small-sized venture firms is made. This study also suggests the necessity of the risk premium for the technology competitiveness to improve the estimation of the appropriate discount rate for small-sized venture firms.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.51 no.12
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• pp.630-637
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• 2002

This paper proposed a new diffusion model considering DSM rebate program's support conditions. The proposed method used some aspects of the rebate program such as support qualifications, annual support volume, and support level per appliance as following : The support qualifications were limited as the consumer which can get the rebate program's benefit, the annual support volume was constrained as the fixing budget and the support level per appliance was considered by high-efficient appliance actuality price. This paper also proposed a new method that used neural network as its parameter estimation moth[,4 for the diffusion model. The diffusion model and its parameter estimation method are expected to be able to analyze the diffusion characteristics of high-efficient appliance through the rebate program and the effects of rebate program's support conditions. Also, these will be able to evaluate the impacts and to analyze the cost-effectiveness of Energy Efficiency Demand-Side Management(EEDSM) resources. The case study is performed on the high-efficient lighting appliance rebate program of Korea by using the suggested diffusion model and estimation method and thus verified its validity.

• Journal of Forest and Environmental Science
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• v.24 no.3
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• pp.151-154
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• 2008

Dramatic price increases of fossil fuels and the economic development of emerging nations accelerates the transformation of forest lands into monocultures, e.g. for biofuel production. On this account, cost efficient methods to enable the monitoring of land resources has become a vital ambition. The application of remote sensing techniques has become an integral part of forest attribute estimation and mapping. The aim of this study was to evaluate the potentials of the kNN method by combining terrestrial with remotely sensed data for the development of a pixel-based monitoring system for the small scaled mosaic of different land use types of the off-reserve forests of the Goaso forest district in Ghana, West Africa. For this reason, occurrence and distribution of land use types like cocoa and non-timber forest resources, such as bamboo and raphia palms, were estimated, applying the kNN method to ASTER satellite data. Averaged overall accuracies, ranging from 79% for plantain, to 83% for oil palms, were found for single-attribute classifications, whereas a multi-attribute approach showed overall accuracies of up to 70%. Values of k between 3 and 6 seem appropriate for mapping bamboo. Optimisation of spectral bands improves results considerably.

• Journal of Environmental Science International
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• v.18 no.4
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• pp.355-367
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• 2009

Comparison study on the land surface temperatures, which are calculated from four different algorithms for MODIS data, was carried out and the characteristics of each algorithm on land surface temperature estimation were also analysed in this study. Algorithms, which are well used for various satellite data analysis, in the comparisons are proposed by Price, Becker and Li, Ulivieri et al., and Wan. Verification of estimated land surface temperature from each algorithm is also performed using observation based regression data. The coefficient of determination ($R^2$) for daytime land surface temperature estimated from Wan's algorithm is higher than that of another algorithms at all seasons and the value of $R^2$ reach on 0.92 at spring. Although $R^2$ for Ulivieri's algorithm is slightly lower than that for Wan's algorithm, the variation pattern of land surface temperature for two algorithms are similar. However, the difference of estimated values among four algorithms become small at the region of high land surface temperature.