• Title/Summary/Keyword: Return Horizon

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Modeling New Generation Expansion Planning Problems for Applications in Competitive Electric Power Industries (전력시장에 적용 가능한 새로운 전원개발계획문제 모델링)

  • 김진호;박종배;박준호
    • The Transactions of the Korean Institute of Electrical Engineers A
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    • v.53 no.9
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    • pp.521-528
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    • 2004
  • The demise of the native franchise markets and the emergence of competitive markets in electricity generation service is substantially altering the way that operation and planning activity is conducted and is making it increasingly difficult for market participants such as generation firms to prospect the future electricity markets. Traditional generation expansion planning (GEP) problems which centrally determine the least-cost capacity addition plan that meets forecasted demand within pre-specified reliability criteria over a planning horizon (typically 10 to 20 years) is becoming no more valid in competitive market environments. Therefore, it requires to develop a new methodology for generation investments, which is applicable to the changed electric industry business environments and is able to address the post-privatization situation where individual generation firms seek to maximize their return on generation investments against uncertain market revenues. This paper formulates a new generation expansion planning problem and solve it in a market-oriented manner.

Determination of Work Schedule Type by Dynamic Programming (동적계획모형을 이용한 근무형태 결정)

  • 김중순;안봉근;손달호
    • Korean Management Science Review
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    • v.20 no.2
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    • pp.33-43
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    • 2003
  • In this paper we applied dynamic programming to determining work schedule type. In dynamic programming formulation, each day during a planning horizon represents a stage for which a decision is made. The alternatives are given by work schedule types that combine regular time, overtime, additional shift, and so on. In this case, their associated return function is labor cost. The state is defined as the amount of work time allocated to stage 1, stage 2,…, and current stage. A case study for a real manufacturing company was performed to apply dynamic programming to scheduling daily work hours during a week. The case study showed that total cost of our solution derived from dynamic programming decreased by about 6% as compared with the solution obtained from the previous method.

한국(韓國) 주식시장(株式市場)에서 주가(株價)는 비합리적(非合理的)로 결정(決定)되는가? - 주가결정모형(株價決定模型)의 실증분석(實證分析)을 중심(中心)으로 -

  • Kim, Gyu-Yeong
    • The Korean Journal of Financial Management
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    • v.10 no.2
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    • pp.239-262
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    • 1993
  • 본 연구에서는 한국 주식시장에서의 주가결정과정에 비합리적인 요소가 내포되어 있는지의 여부를 정가하기 위하여 Fama-French(1988)의 검증방법론을 이용하여 한국종합주가지수, 자본금규모별 주가지수, 산업 별 주가지수, 그리고 한경다우지수 등을 대상으로 실증분석을 실시하였다. 주가의 평균회귀과정(mean-reverting process)이 주식수익률들간의 음의 자기상관관계를 유발한다는 관찰에서 출발한 본 연구는 미국에서의 실증분석 결과와는 판이하게 주식수익률들이 2년까지의 수익률계산기간(return horizon)에서 지속적인 양의 자기 상관을 갖고 있음을 발견하였다. 본 연구에서 발견된 실증분식결과는 대상주가지수에 관계없이 일관성있는 패턴을 유지하고 있는데, 이는 Fama-French(1988)의 결과에 정면으로 배치된다. 따라서 본 연구에서의 실증분석 결과는 우리나라 주식시장의 경우 주가에 비합리적인 평균회귀요소(mean-reverting components)가 포함되어 있다는 가설을 지지하지 않는 것으로 해석 될 수 있을 것이다. 물론, 이것이 반드시 우리 주식 시장에서의 주가결정이 합리적으로 이루어진다는 것을 의미하지는 않으며, 단지 본 연구에서 주장되고 있는 것은 우리 주식시장에서의 주가결정과정을 랜덤웍과 평균회귀과정의 합성 혹은 평균회귀과정 그 자체로 모형화하려는 시도는 실증적 증거에 뿌리를 두고 있지 않다는

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Analysis on Korean Fund of Funds (국내 모태펀드의 성과에 대한 연구)

  • KANG, Won
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.14 no.6
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    • pp.1-9
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    • 2019
  • Since 2005, Korea Venture Investment Corp. (KVIC) has been managing Korean Fund of Funds (KFoF) which helped greatly the domestic venture capitals create their private funds. Its contribution, however, is not limited fetching the pump. When KFoF decides to invest in VC funds, it demands very strict rules the VC funds need to follow before and after their investments in private equities. Whether this tight control of investments does hinder GPs' creativity or rather enhance GPs' transparency and professionalism is an open question subject to empirical tests. If KFoF is only fetching the pump, and neither fund size or time horizon improves VC funds' return rates, then KFoF's involvement in VC funds should not be positively related to VC funds' return rates. If, on the other hand, KFoF harms GPs' creativity, KFoF's involvement should be negatively related to VC funds' performances. Still, if KFoF promotes GPs' transparency and professionalism, its presence in VC funds should positively affect the returns earned by VC funds. Even when KFoF only got to get quality VC funds because those GPs good enough to stand up to the tight conditions set forth by KFoF, the empirical implication will yield the same results. In this article, empirical tests are carried out using the data provided by Korea Venture Capital Association. The VC funds formed and liquidated from 2000 to 2018 are selected for the tests. The results show that VC funds with the presence of KFoF exceed VC funds without KFoF in returns, which supports the hypothesis that KFoF enhances transparency and professionalism of VC funds.

Integrating Ant Colony Clustering Method to a Multi-Robot System Using Mobile Agents

  • Kambayashi, Yasushi;Ugajin, Masataka;Sato, Osamu;Tsujimura, Yasuhiro;Yamachi, Hidemi;Takimoto, Munehiro;Yamamoto, Hisashi
    • Industrial Engineering and Management Systems
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    • v.8 no.3
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    • pp.181-193
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    • 2009
  • This paper presents a framework for controlling mobile multiple robots connected by communication networks. This framework provides novel methods to control coordinated systems using mobile agents. The combination of the mobile agent and mobile multiple robots opens a new horizon of efficient use of mobile robot resources. Instead of physical movement of multiple robots, mobile software agents can migrate from one robot to another so that they can minimize energy consumption in aggregation. The imaginary application is making "carts," such as found in large airports, intelligent. Travelers pick up carts at designated points but leave them arbitrary places. It is a considerable task to re-collect them. It is, therefore, desirable that intelligent carts (intelligent robots) draw themselves together automatically. Simple implementation may be making each cart has a designated assembly point, and when they are free, automatically return to those points. It is easy to implement, but some carts have to travel very long way back to their own assembly point, even though it is located close to some other assembly points. It consumes too much unnecessary energy so that the carts have to have expensive batteries. In order to ameliorate the situation, we employ mobile software agents to locate robots scattered in a field, e.g. an airport, and make them autonomously determine their moving behaviors by using a clustering algorithm based on the Ant Colony Optimization (ACO). ACO is the swarm intelligence-based methods, and a multi-agent system that exploit artificial stigmergy for the solution of combinatorial optimization problems. Preliminary experiments have provided a favorable result. In this paper, we focus on the implementation of the controlling mechanism of the multi-robots using the mobile agents.

Changes in the role of universities due to the age of lifelong education (평생교육 시대에 따른 대학의 역할 변화)

  • Choi, Son Hwan
    • The Journal of the Convergence on Culture Technology
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    • v.8 no.1
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    • pp.299-306
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    • 2022
  • Today, the paradigm of lifelong education has changed, emphasizing the role of universities as a lifelong educational institution. Re-opening a new horizon as a lifelong education institution that is not only centered on leisure education in the hierarchy where lifelong education can be afforded as before, or simply in line with changes in the social environment and the lengthened life cycle of the aging era. Let's propose a structured figure. Universities now have to create a virtuous circle structure that coexists not only with the role of the university itself, but with constant interaction with the local community. Adult learners, in particular, play a strong role in the development of their communities, so they are educated at the university to grow further and create structures that can return talent to the communities that go out into society. I should go. In the future, the university will actively open its doors to adult learners, position the university at the center of lifelong education, and in order to contribute to the development of the community, it will have to interact and cooperate with the community.

Claude Régy's Poetic Directing : The Aesthetics of Silence (끌로드 레지의 시적연출 : 침묵의 미학)

  • Ha, Hyung-Ju
    • Journal of Korea Entertainment Industry Association
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    • v.15 no.4
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    • pp.127-139
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    • 2021
  • This study is intended to review the poetic directing created by the aesthetics of silence of Claude Régy, a French director who carries out playwriting in silence, departing from conventions through the concept of "potentiality" proposed by Giorgio Agamben, an italian philosopher. Claude Régy stated, "What's fundamentally important is not to say what you want to say." Thus he tries to create the stage of "silence" rendered in overly slow, excessively segmented dialogues while selecting restrained minimal means. Agamben makes Bartleby who "prefers not to" as a cardinal model of his perfect potentiality, asserting that the nature of potentiality is revealed in the pause of actuality. As in Agamben's philosophy, Claude Régy's directing is also the "pause" of words and actions. This silence is not a return to actuality but a creation of the moment at which "the invisible" become visible. The silence of words or the silence of an empty stage with dim lighting is viewed by Agamben as potentiality that has "underlying passivity" and is "hospitable to non-existnece". In this light, this study is to create another direction for the theater arts of our time and the 21st century and to extend the horizon of new directional modes. It aldo reviews the concept of Agamben's "potentiality" that provides critical viewpoints to "the artist without content", works directed by Claude Régy who has created his own distinctive styles of direction with the aesthetics of "slowness" and "silence", L'intérieur by Maurice Maeterlinck and Quel'un va venir By Jon Fosse.

Literary Text and the Cultural Interpretation - A Study of the Model of 「History of Spanish Literature」 (문학텍스트와 문학적 해석 -「스페인 문학사」를 통한 모델 연구)

  • Na, Songjoo
    • Cross-Cultural Studies
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    • v.26
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    • pp.465-485
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    • 2012
  • Instructing "History of Spanish Literature" class faces various types of limits and obstacles, just as other foreign language literature history classes do. Majority of students enter the university without having any previous spanish learning experience, which means, for them, even the interpretation of the text itself can be difficult. Moreover, the fact that "History of Spanish Literature" is traced all the way back to the Middle Age, students encounter even more difficulties and find factors that make them feel the class is not interesting. To list several, such factors include the embarrassment felt by the students, antiquated expressions, literature texts filled with deliberately broken grammars, explanations written in pretentious vocabularies, disorderly introduction of many different literary works that ignores the big picture, in which in return, reduces academic interest in students, and finally general lack of interest in literate itself due to the fact that the following generation is used to visual media. Although recognizing such problem that causes the distortion of the value of our lives and literature is a very imminent problem, there has not even been a primary discussion on such matter. Thus, the problem of what to teach in "History of Spanish Literature" class remains unsolved so far. Such problem includes wether to teach the history of authors and literature works, or the chronology of the text, the correlations, and what style of writing to teach first among many, and how to teach to read with criticism, and how to effectively utilize the limited class time to teach. However, unfortunately, there has not been any sorts of discussion among the insructors. I, as well, am not so proud of myself either when I question myself of how little and insufficiently did I contemplate about such problems. Living in the era so called the visual media era or the crisis of humanity studies, now there is a strong need to bring some change in the education of literature history. To suggest a solution to make such necessary change, I recommended to incorporate the visual media, the culture or custom that students are accustomed to, to the class. This solution is not only an attempt to introduce various fields to students, superseding the mere literature reserch area, but also the result that reflects the voice of students who come from a different cultural background and generation. Thus, what not to forget is that the bottom line of adopting a new teaching method is to increase the class participation of students and broaden the horizon of the Spanish literature. However, the ultimate goal of "History of Spanish Literature" class is the contemplation about humanity, not the progress in linguistic ability. Similarly, the ultimate goal of university education is to train students to become a successful member of the society. To achieve such goal, cultural approach to the literature text helps not only Spanish learning but also pragmatic education. Moreover, it helps to go beyond of what a mere functional person does. However, despite such optimistic expectations, foreign literature class has to face limits of eclecticism. As for the solution, as mentioned above, the method of teaching that mainly incorporates cultural text is a approach that fulfills the students with sensibility who live in the visual era. Second, it is a three-dimensional and sensible approach for the visual era, not an annotation that searches for any ambiguous vocabularies or metaphors. Third, it is the method that reduces the burdensome amount of reading. Fourth, it triggers interest in students including philosophical, sociocultural, and political ones. Such experience is expected to stimulate the intellectual curiosity in students and moreover motivates them to continues their study in graduate school, because it itself can be an interesting area of study.