• Journal of the Korean Operations Research and Management Science Society
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• v.40 no.2
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• pp.43-61
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• 2015

The valuation of patents is very important, since technology competitiveness is crucial for firms to maintain global competitiveness. But, the patent valuation is difficult and challenging because of the uncertainty affecting their returns. Hence, we propose a patent valuation method by incorporating game theory into the real option model, which can not only potentially recognizes the effect of uncertainty on patent value, but also consider investment decision in a competitive market, as a game between firms. With the model, we can consider dynamic strategy involving an option of patent leveraging strategies enabling the firm to switch among compete, cooperate, or wait modes under different demand or competitive advantage condition.

• Asian Journal of Innovation and Policy
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• v.7 no.1
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• pp.178-189
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• 2018

In this paper, we present a case study of a new emerging business startup involved in smart house appliances. The irreversible investment concept and real-option theory are introduced as the fundamentals of the model. By using games theory we show that the startup's actions can trigger reactions from other firms. The first part covers initial the research and development stage, while the second part covers production and commercialization. The findings of this study suggest that, given a certain amount of initial investment, an open and shared innovation may lead to hurting a firm's investment while strengthening the competitors' position in the market. However, given the sensitivity analysis, when volatility and demand grow favorably, sharing R&D investment is not a bad option for a new player to adjust its position in the market while still maintaining positive returns.

• Environmental and Resource Economics Review
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• v.14 no.3
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• pp.753-773
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• 2005

This paper is a study of the investment dynamics focusing on crude oil supply by OPEC and non-OPEC. Oil supply capacity is first determined by a leader, OPEC, and by an aggregate that represents non-OPEC producers. OPEC wants to increase a gain from oil price increase while keeping its market share relative to non-OPEC's share. An investment rule model is developed for OPEC crude oil supply capacity in response to non-OPEC's decision. In presence of oil price uncertainty, oil price threshold is derived above which it is optimal for OPEC to expand oil supply capacity since otherwise the increased supply of non-OPEC results in weakening of OPEC market share in the world oil market. In addition, a lower threshold price is derived below which OPEC triggers a capacity reduction to regain its otherwise forgone profits. A simulation is provided for calculating the capacity expansion and reduction thresholds.

• Journal of the Korea Convergence Society
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• v.9 no.12
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• pp.169-174
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• 2018

The museum, run by the archives, should show historical facts about the president through objective records that are not fully evaluated. The wartime atmosphere should maintain solemnity to highlight the evidential value of records about history, but include an interesting element that allows visitors to come comfortably. It would be possible to accommodate 360 viewers at the same time, and it would be an option to limit the number of visitors considering the operation of weekend events and the donor honor hall. In this study, we established and presented an image integration plan centered on the color plan and the signature plan. Although the real image integration plan is a case study that starts with symbols and logos and is conducted through an integrated and systematic system through the basic design and application design system, it is considered to be a meaningful study in terms of practical use.