• Title/Summary/Keyword: Rational expectation

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The recent trend and determinants of service diversification in Korean hospital (우리나라 병원의 서비스 다각화추세와 관련요인분석)

  • Lee, Sun-Hee;Kim, Han-Joong;Cho, Woo-Hyun
    • Journal of Preventive Medicine and Public Health
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    • v.24 no.1 s.33
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    • pp.16-28
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    • 1991
  • Service diversification is recognized as an important strategy against turbulent environmental change. This study is designed to find out the trend of service diversification in Korean health care organizations and also to identify factors associated with the degree of service diversification. Data were collected from 69 hospitals out of 71 hospitals with over 300 beds. Important findings are summarized below. 1. Types of diversification are closely related to hospital size. Large hospitals have a tendency to provide sophisticated services requiring specialized skills and equipment, while small hospital have concentrated their efforts on health screening programs. 2. The more competitive and bigger hospitals are, the greater number of services that provide. Also, hospitals operating rational management information systems provide more services. Contrary to the expectation hospitals with a low performance during last 3 years showed more service diversification. 3. A trend of more diversification was observed in hospitals whose chief executive officer used a prospector strategy. 4. A multiple regression analysis revealed that bed size, competitive environment, degree of rational management, and the growth pattern were significantly associated with the service diversification.

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On the Effect of Regional Consumption toward Regional Income in Korea - An Application of Panel Cointegration - (한국의 지역소비가 지역소득에 미치는 영향 분석 - 패널공적분에 의한 접근 -)

  • Rhee, Hyun-Jae
    • Journal of the Korean Regional Science Association
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    • v.33 no.2
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    • pp.25-37
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    • 2017
  • The paper is basically designed to investigate how regional consumption affects to regional income in Korea by introducing a model with panel cointegration, rational expectation and FM-OLS cointegration methodology. Empirical evidence reveals that the regional income could be stimulated by manipulating the regional consumption due to the fact that current regional consumption and first-lagged regional income are positively related to the level of regional income. Although there exists a possibility to increase the regional income which is associated with a spending multiplier in the group of regions with highly calculated MPC, but not in the groups of regions with middle and low calculated MPCs. To this end, it could be tentatively concluded that market-oriented system should be implemented elaborately to enable that the spending multipliers are appropriately operated in these two groups.

Modeling Spatial Patterns of an Overheated Speculation Area (투기과열지역의 공간패턴 모형화)

  • Sohn, Hak-Gi
    • Journal of the Korean Geographical Society
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    • v.43 no.1
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    • pp.104-116
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    • 2008
  • Overheated speculation areas which have high potential of becoming speculative are the target of many real estate policies. This paper proposes a model for spatial patterns of house price volatility and suggests a spatial pattern of overheated speculation areas. House prices are determined by economic behaviors of sellers and buyers who have rational or adaptive expectations. Spatial patterns of house price volatility are formed by tendencies of their economic behavior. If there is a majority of adaptive sellers and buyers in an area, it may appear as a "hotspot" by showing high volatility of house prices and simultaneous price increases. Overheated speculation areas are formed by adaptive sellers and buyers who want to realize maximum expectation profit, therefore these areas patterns are defined as hotspot patterns of price volatility.

Consumer Misperceptions, Product Liability Law and Product Safety

  • Lee Jong-In
    • International Journal of Human Ecology
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    • v.6 no.2
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    • pp.63-72
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    • 2005
  • This paper considered the impact of changing the product liability rule from consumer to producer liability on product safety under asymmetric information. In particular, it has been attempted to remove several constraints on antecedent studies. The main results of the study are as follows: under the misperception of the risk on a product, consumers may underestimate the probability of product failure. In this case, the accident rate can be lowered under the producer's liability rule. However, even under the asymmetric information, a consumer's estimation on the probability may be converged with the expected risk level, which could be called the 'rational expectation.' In this situation the probability of product failure can be lowered under the strict liability with contributory negligence. Additionally, it is possible to reduce the probability of product failure when a legal rule that imposes liability on cheapest cost avoider is admitted.

Average Correction for Compensation of Differential Column Shortening in High-rise Buildings (이동 평균법을 이용한 고층 건물의 부등축소량 보정 기법)

  • Park, Sung-Woo;Choi, Se-Woon;Park, Hyo-Seon
    • Journal of the Computational Structural Engineering Institute of Korea
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    • v.23 no.4
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    • pp.395-401
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    • 2010
  • The vertical members of structures are shortened as time goes on. Because structures have been high-rising and atypical there should be different axial loads among vertical members and it causes differential column shortenings. The differential column shortening add stresses to connections, make slab tilt, and damage to non-structural components. To reduce these influences compensation is need. The rational compensation means the exact expectation of amounts of column shortenings and the reasonable corrections. The expectation of column shortenings are more exact as researched, however, there is little research about the compensation. This paper presents the average correction method and the constraints for differential column shortenings considering errors due to the construction precision. The relations between constraints and the number of correction groups give an objective criterion for decision of constraints.

A Empirical Study on Expectations Hypothesis of the Term Structure of Implied Volatility in Kospi 200 Options Market (KOSPI 200 주가지수옵션시장에서 내재변동성 기간구조의 기대가설검정에 관한 연구)

  • Kang, Byung-Young;Min, Kyung-Tae
    • The Korean Journal of Financial Management
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    • v.22 no.2
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    • pp.91-105
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    • 2005
  • Using Campa and Chang's Expectations Hypothesis model, We test the expectations hypothesis in the term structure of volatilities in options on KOSPI 200 by using daily dosing prices from January 1999 to December 2003. In particular, it addresses whether long-dated volatilities are consistent with expected future short-dated volatilities, assuming rational expectation. Our results do not support the expectations hypothesis : long-term volatilities rise relative to short-term volatilities, but the increases are not matched as predicted by the expectations hypothesis. In addition, an increase in the current long-term volatilities relative to the current short-term volatilities is followed by at a random.

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Drivers' Learning Mechanism and Route Choice Behavior for Different Traffic Conditions (교통상황에 따른 운전자의 경로선택과 학습행동에 관한 연구)

  • 도명식;석종수;김명수;최병국
    • Journal of Korean Society of Transportation
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    • v.21 no.3
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    • pp.97-106
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    • 2003
  • When a route choice is done under uncertainty, a driver has some expectation of traffic conditions that will occur according to the route chosen. This study tries to build a framework in which we can observe the learning behavior of the drivers' expectations of the travel time under nonstationary environment. In order to investigate how drivers have their subjective expectations on traffic conditions in response to public information, a numerical experiment is carried out. We found that rational expectations(RE) formation about the route travel time can be expressed by the adaptive expectation model when the travel time changes in accordance with the nonstationary process which consists of permanent shock and transient shock. Also, we found that the adaptive parameter of the model converges to the fixed value corresponding to the route conditions.

Measurement of Nursing Service Quality using SERVQUAL Model (SERVQUAL 모델을 이용한 간호 서비스 질 측정)

  • Lim, Ji-Young;Kim, So-In
    • Journal of Korean Academy of Nursing Administration
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    • v.6 no.2
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    • pp.259-279
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    • 2000
  • This study is a descriptive analytic research measuring nursing service quality, using SERVQUAL model, to make fundamental data and strategies for nursing service improvement. Data were collected by self-reported questionnaire from 202 patients and 142 nurses, from June 7 to 14, 1999. The reliability of instrument were adequate(Cronbach ${\alpha}=.94$). SAS program was utilized for statistical analysis of collected data. The results were as follows; 1. There was a gab between patient's expectation and perception on nursing service(Gap B). Gap D was indicated an affecting factor to decide nursing service quality. Gap C was indicated an indirect affecting factor of nursing service quality. Because it was not statistically significant in total item analysis, but in individual item analysis, 7 items were appeared statistically significant. Gap A was not a gap occurrence factor of nursing service quality. 2. Focuses of nursing service quality improvement strategies were; (1) to direct qualitative improvement of nursing service in order to correspondence patient's nursing service expectation. (2) to make nurse's service activity modified because nurse's practice were not reached patient's expectation level. (3) to need internal, external factor analysis affecting nurse's service activity. 3. Nursing service quality was decided by rather environmental inappropriateness provided nursing service than itself. Therefore, to make nursing service quality improvement, it is required to improve nursing service environment. For this, followings are required; (1) to strengthen nurse's education on lower part of nursing service satisfaction and QI activities. (2) to balance demand and supply of nursing personnel. 3) to fix computerized system for reducing other duties weight except nursing care through analysis of nursing activity. (4) to construct rational cooperating system among related departments. 4. The important parts for nursing service quality improvement were indicated as follows: (1) Gap B: 'prompt reaction', 'examination symptom before patient's complaint', 'hearted nursing service reducing patient's dissatisfaction', 'explanation goals of nursing activities', 'having special Knowledge enough', 'maintenance position comfortably', 'management of patient's physical hygiene'. (2) Gap C: 'maintenance physical safety', 'explanation about hospital rules and facilities'. (3) Gap D: 'tender, safe injection and wound care'. Because above items are mostly improved through nurse's attitude change and quality improvement, it is required to establish nursing standardization and to strengthen nurse's clinical education. As the based on above results, followings are suggested; 1. SERVQUAL model is very useful to make strategies for nursing service quality improvement because it indicates multiple factors affecting hap occurrence. 2. At individual items analysis of Gap C, statistically significant 7 items appeared higher nurse's perception level than patient's perception level on nursing service were trouble perception level on nursing service quality improvement. So. it need further research to analysis about these difference occurring factors. 3. At analysis of Gap D, it is indicated that in nursing service performance process, multiple factors lowing nursing service quality were intruded. So it needs further research to analysis what these factors are and how each factors affect on nursing performance process. 4. nursing service quality measurement is changeable according to sample select time or sampled subject's characteristics. So to develope strategy for nursing service quality improvement is based on the results of periodical analysis.

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A Study for Heavy Duty Coating by Corrosion of the Steel Bridge (철도용 강교량의 부식에 대한 중방식 도장의 특성연구)

  • Kong, Byung-Seung;Kim, Min-Ho
    • Proceedings of the KSR Conference
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    • 2007.11a
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    • pp.345-351
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    • 2007
  • The research which it sees will confront to the coating with paint material and a coating with paint public law application of the river bridge and it will present it will sleep and it will execute, it will reach and a comparison - an analysis from the research which it tries to respect middle of special environment the polyurethane system which is a method coating with paint system and fluorine resin system, against a ceramic system it executed more an objectivity and rational fundamental data. With research method against each coating with paint evening sunlight a research investigation material and structure, it separated with spatial-temporal characteristic and economic viewpoint it executed. When considering overview from material viewpoint, fluorine resin system ceramic system polyurethane system pure with it is judged with the fact that it is excellent. There is a possibility of saying that the coefficient of friction of the fluorine resin system which uses the weapon quality zinc end coating compound ever so hard and polyurethane system is excellent ceramic system than from structure viewpoint. That fluorine resin system = polyurethane system ceramic system pure with it is excellent, it is judged from spatial-temporal characteristic viewpoint. It measures but it considered an internal troubles year grudge in the standard which becomes disturbance the place where it executes the market the expectation life person of the general bridge against 100 years the result fluorine resin system polyurethane system ceramic system which compares a materials unit cost pure with it appeared.

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A Study on the Air Travel Demand Forecasting using time series ARIMA-Intervention Model (ARIMA-Intervention 시계열모형을 활용한 제주 국내선 항공여객수요 추정)

  • Kim, Min-Su;Kim, Kee-Woong;Park, Sung-Sik
    • Journal of the Korean Society for Aviation and Aeronautics
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    • v.20 no.1
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    • pp.66-75
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    • 2012
  • The purpose of this study is to analyze the effect of intervention variables which may affect the air travel demand for Jeju domestic flights and to anticipate the air travel demand for Jeju domestic flights. The air travel demand forecasts for Jeju domestic flights are conducted through ARIMA-Intervention Model selecting five intervention variables such as 2002 World Cup games, SARS, novel swine-origin influenza A, Yeonpyeongdo bombardment and Japan big earthquake. The result revealed that the risk factor such as the threat of war that is a negative intervention incident and occurred in Korea has the negative impact on the air travel demand due to the response of risk aversion by users. However, when local natural disasters (earthquakes, etc) occurring in neighboring courtiers and global outbreak of an epidemic gave the negligible impact to Korea, negative intervention incident would have a positive impact on air travel demand as a response to find alternative due to rational expectation of air travel customers. Also we realize that a mega-event such as the 2002 Korea-Japan World Cup games reduced the air travel demand in a short-term period unlike the perception in which it will increase the air travel demand and travel demands in the corresponding area.