• 한국경영정보학회:학술대회논문집
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• 2007.06a
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• pp.661-666
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• 2007

MMORPG, massively multi-players in online role-playing game, is the most popular genre in online games. Because large number of players interacts with each other, virtual worlds in MMORPG are alike communities of real worlds. Moreover, players in virtual worlds trade game items with real money. This paper is to find impacts of real-money trading into real worlds, and game operators, by using two-period model between players of the game and the game operator. It was found that real-money trading benefits game operators, and there exists optimal supply of game items to maximize the profit of game operator. Moreover we found that the income disparity in real worlds could be decreased when real-money trading is allowed To support the analytical model, we used an empirical analysis using real-money trading data, and find the relationship among play time of MMORPG, transaction volume of real-money trading, and price of game items. In empirical analysis, it was found that real-money trading benefits game operators. Moreover, it was found that play time and price have positive relationship.

• Journal of Korea Game Society
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• v.9 no.1
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• pp.33-41
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• 2009

In this paper we tried to figure out the types of real money trade of game items, and in order to study it we examined the Leveling System of MMORPG which is a perfect competitive market and how the closed structure of the game economy emits real money trade. The over production of the MMORPG's leveling system which is a perfect competitive market increases the amount of currency in circulation and then induces arbitrage due to mudfalation inside the game. In order to improve this problem, there are three methods of resolutions. The first is stabling the game economy by spontaneous order among the game users, but this is much local than the artificial order which takes a long time and evokes discrepance in MMORPG competitive characteristic. Secondly, legislational regulations from the government could improve the problem, but this method doesn't grant information or services as non-material labor in which it couldn't follow up the developing speed of the game market. Finally, delicate modulation among game items by the designer isn't possible to constrain them, and there is a limited reason that it couldn't control the increase of currency which is the main factor of arbitrage.

• The Journal of Industrial Distribution & Business
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• v.8 no.5
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• pp.7-13
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• 2017

Purpose - The purpose of this paper is to analyze the relationship between the real exchange rate and the output, which is based on the macroeconomic equilibrium theory in China. Its aim will be to verify whether the change in the real exchange rate has a significant effect on the output or not. Research design, data, and methodology - This study endeavors tries to investigate the correlation among economic variables under the macroeconomic market (the commodity market and the money market) equilibrium. So, time-series data from 1990 to 2016 is applied to establish a vector auto-regression (VAR) model so as to perform an empirical analysis. Results - The empirical results reveal that an increase in the real exchange rate will result in an increase in the output in the short run. However, the empirical results also indicate that this kind of mechanism cannot work in the long run. Conclusions - The effect of a decrease of real exchange rate on output is significant in the short run. Also, this paper suggests that the total supply and the total demand can promote economic growth. The fiscal and money policy play a significant role in economic growth in China as well.

• IE interfaces
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• v.12 no.3
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• pp.414-423
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• 1999

A nuclear power plant requires a huge amount of initial investment and long construction lead time. As we expect that there may exist a relationship between investment and construction lead time, a number of researchers have reported that nearly a half of investments is incurred due to time factors such as the time value of money and inflation or escalation rates. Therefore, we investigated in this paper a relationship between the initial investment and the construction lead time of a nuclear power plant construction, and proposed a method for a trade-off analysis between the annual equivalent worth and the investment alternatives to reduce the construction lead time. Finally, we presented a real case to numerically explain the steps of the method presented in this paper.

• The Journal of Industrial Distribution & Business
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• v.9 no.6
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• pp.15-24
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• 2018

Purpose - The adjustment of one country's monetary policy can cause the macroeconomic change of other countries. Due to this, this paper attempts to analyze the impact of China's monetary policy on South Korea's exchange rate. Research design, data, and methodology - Based on the flexible-price monetary model, sets of annual time series from 1980 to 2017 are employed to perform an empirical estimation. The vector error correction model is also used to exploit the short-run relationship between both of them. Of course, the South Korea's real GDP, the China's real GDP, South Korea's interest rate, the South Korea's interest rate and the South Korea's monetary supply are treated as independent variables in this paper. Result - The long-run findings reveal that the China's money supply has a negative effect on South Korea's exchange rate. Respectively, the short-run findings depicts that the China's money supply has negative a effect on South Korea's exchange rate. Of course, other variables selected in this paper also have an effect on South Korea's exchange rate whatever positive or negative. Conclusions - As the empirical evidence shows, the China's monetary policy has a negative effect on South Korea's exchange rate whenever in the long run or in the short run.

• Journal of Korea Game Society
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• v.11 no.2
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• pp.45-56
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• 2011

The concept, means, value chain, the persons concerned and possible issues of game item trading in cash are analyzed in this study. The trading is characterized by not only being performed with its own unique business model but also causing issues related to delicate social problems, such as digital contents distribution, work place and gambling. The way of game item trading in cash and its value chain have been changed with game market growth for the past years. I analyzed in this article the new concept of game item trading in cash that is different from the past. Also, analysis on several issues related to game item trading in cash is conducted.

• The Journal of Industrial Distribution & Business
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• v.9 no.6
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• pp.77-85
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• 2018

Purpose - The purpose of this study is to subdivide trade transaction-centered structure in a logistics/distribution industry system to apply blockchain, to establish and resolve with which types of technology, and to provide policy direction of government institution and technology to apply blockchain in this kind of industry. Research design, data, and methodology - This study was conducted with previous researches centered on cases applied in various industry sectors on the basis of blockchain technology. Results - General fields of blockchain application include digital contents distribution, IoT platform, e-Commerce, real-estate transaction, decentralized app. development(storage), certification service, smart contract, P2P network infrastructure, publication/storage of public documents, smart voting, money exchange, payment/settlement, banking security platform, actual asset storage, stock transaction and crowd funding. Blockchain is being applied in various fields home and abroad and its application cases can be explained in the banking industry, public sector, e-Commerce, medical industry, distribution and supply chain management, copyright protection. As examined in the blockchain application cases, it is expected to establish blockchain that can secure safety through distributed ledger in trade transaction because blockchain is established and applied in various sectors of industries home and abroad. Parties concerned of trade transaction can secure visibility even in interrupted specific section when they provide it as a base for distributed ledger application in trade and establish trade transaction model by applying blockchain. In case of interrupted specific section by using distributed ledger, blockchain model of trade transaction needs to be formed to make it possible for parties concerned involved in trade transaction to secure visibility and real-time tracking. Additionally, management should be possible from the time of contract until payment, freight transfer to buyers through land, air and maritime transportation. Conclusions - In order to boost blockchain-based logistics/distribution industry, the government, institutionally, needs to back up adding legal plan of shipping, logistics and distribution, reviewing standardization of electronic switching system and coming up with blockchain-based industrial road maps. In addition, the government, technologically, has to support R&D for integration with other high technology, standardization of distribution industry's blockchain technology and manpower training to expand technology development.

• Human Ecology Research
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• v.61 no.3
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• pp.475-492
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• 2023

This study investigated player responses to microtransactions in freemium Massively multiplayer online roleplaying games (MMORPG), specifically focusing on the game LostArk using English language review data. To this end, structural topic modeling was employed and the following six microtransaction-relevant topics were identified: microtransactions, developer issues, real money trade (RMT), random number generator (RNG) upgrade system, game content, and collectibles & adventure. The first four topics were classified as being "not recommended". However, the proportions of microtransaction-related topics were relatively lower than the other topics. Additionally, this study did not extract keywords related to unfairness and unethical issues in previous microtransaction research. The last two topics, game content, and collectibles & adventure were "recommended" topics, indicating positive functions of microtransactions such as enhancing the game experience by purchasing virtual items. Moreover, it was found that players who do not engage in microtransactions can still be satisfied through continuous game content updates. Additionally, an examination of the interaction effect between time and recommendation status revealed that while the frequency with which the six microtransaction-related topics were mentioned increased over time in the reviews, the ratio of recommendations to non-recommendations varied differently. This study contributes to game-related research by revealing players' authentic opinions on microtransactions in freemium MMORPGs, thereby providing practical implications for game companies.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.6
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• pp.109-116
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• 2020

The study examines the nexus between financial development and economic growth in India during Q1: 1996 to Q3: 2018. This study employs time-series data of real GDP and ratio of broad money to GDP as a proxy for economic and financial development, respectively. The data are obtained from RBI database on the Indian economy. All variables are seasonally adjusted using X12-arima technique and expressed in natural logarithm form. Non-linear Autoregressive Distributed Lag (NARDL) bound test has been used to check for cointegrating relationship of these two variables. Empirical findings suggest that, unlike in the short run, in the long run financial development does impact economic growth positively. Further, a symmetric effect of positive and negative components of financial development is found for the Indian economy, whereas the effect of control variable like exchange rate and trade openness is in consonance with common economic intuition. Exchange rate is in consonance with intuitive economic logic that a fall in exchange rate makes exports cheaper and increases the quantity of export, which improves the balance of payment and leads to a rise in aggregate demand, hence improves economic growth. This paper contributes to the existing literature on India by breaking down financial indicator into positive and negative components to examine the finance-growth relationship.

• Asia pacific journal of information systems
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• v.18 no.3
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• pp.45-65
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• 2008

The rapid growth of the Internet has increased the amount of transmission of personally identifiable information. At the same time, with new Internet related technologies, organizations are trying to collect and access more personal information than before, which in turn makes individuals concern more about their information privacy. For their successful businesses, organizations have tried to alleviate these concerns in two ways: (1) by offering privacy policies that promise certain level of privacy protection; (2) by offering benefits such as financial gains or convenience. In this paper, we interpret these actions in the context of the information processing theory of motivation. This paper follows Hann et al.(2007)'s methods to analyze Internet users privacy concerns in Korea and tries to compare the findings. Our research objectives are as follows: First, we analyze privacy concern mitigation strategies in the framework of the expectancy theory of motivation. Subsequently, we show how the expectancy theory based framework is linked o the conjoint analysis. We empirically validate the predictions that the means to mitigate privacy concerns are associated with positive valences resulting in an increase in motivational score. In order to accommodate real-life contexts, we investigate these means in trade-off situation, where an organization may only be able to offer partially complete privacy protection and/or promotions and/or convenience, While privacy protection (secondary use, improper access) are associated with positive valences, we also find that financial gains can significantly increase the individuals' motivational score of a website in Korea. One important implication of this empirical analysis is that organizations may possess means to actively manage the privacy concerns of Internet users. Our findings show that privacy policies are valued by users in Korea just as in the US or Singapore. Hence, organizations can capitalize on this, by stating their privacy policy more prominently. Also organizations would better think of strategies or means that may increase online users' willingness to provide personal information. Since financial incentives also significantly increase the individuals' motivational score of website participation, we can quantify the value of website privacy protection in terms of monetary gains. We find that Korean Internet users value the total privacy protection (protection against errors, improper access, and secondary use of personal information) as worthy as KW 25,550, which is about US 28. Having done this conjoint analysis, we next adopt cluster analysis methodology. We identify two distinct segments of Korea's internet users-privacy guardians and information sellers, and convenience seekers. The immediate implication of our study is that firms with online presence must differentiate their services to serve these distinct segments to best meet the needs of segments with differing trade-offs between money and privacy concerns. Information sellers are distinguished from privacy guardians by prior experience of information provision, To the extent that businesses cannot observe an individual's prior experience, they must use indirect methods to induce segmentation by self-selection as suggested in classic economics literature of price discrimination, Businesses could use monetary rewards to attract information sellers to provide personal information. One step forward from the societal trends that emphasize the need of legal protection of information privacy, our study wants to encourage organizations and related authorities to have the viewpoints to consider both importance of privacy protection and the necessity of information trade for the growth of e-commerce.