• Title/Summary/Keyword: Risk Estimation

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Risk Assessment for Noncarcinogenic Chemical Effects

  • Kodell Ralph L.
    • 대한예방의학회:학술대회논문집
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    • 1994.02a
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    • pp.412-415
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    • 1994
  • The fundamental assumption that thresholds exist for noncarcinogenic toxic effects of chemicals is reviewed; this assumption forms the basis for the no-observed-effect level/ safety-factor (NOEL/SF) approach to risk assessment for such effects. The origin and evolution of the NOEL/SF approach are traced, and its limitations are discussed. The recently proposed use of dose-response modeling to estimate a benchmark dose as a replacement for the NOEL is explained. The possibility of expanding dose-response modeling of non carcinogenic effects to include the estimation of assumed thresholds is discussed. A new method for conversion of quantitative toxic responses to a probability scale for risk assessment via dose-response modeling is outlined.

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Estimation of VaR Using Extreme Losses, and Back-Testing: Case Study (극단 손실값들을 이용한 VaR의 추정과 사후검정: 사례분석)

  • Seo, Sung-Hyo;Kim, Sung-Gon
    • The Korean Journal of Applied Statistics
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    • v.23 no.2
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    • pp.219-234
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    • 2010
  • In index investing according to KOSPI, we estimate Value at Risk(VaR) from the extreme losses of the daily returns which are obtained from KOSPI. To this end, we apply Block Maxima(BM) model which is one of the useful models in the extreme value theory. We also estimate the extremal index to consider the dependency in the occurrence of extreme losses. From the back-testing based on the failure rate method, we can see that the model is adaptable for the VaR estimation. We also compare this model with the GARCH model which is commonly used for the VaR estimation. Back-testing says that there is no meaningful difference between the two models if we assume that the conditional returns follow the t-distribution. However, the estimated VaR based on GARCH model is sensitive to the extreme losses occurred near the epoch of estimation, while that on BM model is not. Thus, estimating the VaR based on GARCH model is preferred for the short-term prediction. However, for the long-term prediction, BM model is better.

Estimation of the Number of Salmonellosis Using Microbial Risk Assessment Methodology (미생물 위해성 평가 방법을 이용한 살모넬라 발생수 추정)

  • 최은영;박경진
    • The Korean Journal of Community Living Science
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    • v.15 no.2
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    • pp.167-177
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    • 2004
  • The number of foodborne salmonellosis was estimated by using microbial risk assessment(MRA) methodology and the possibility of application was studied through comparison with previous results. The contamination levels of Salmonella sp. were estimated by using published domestic studies(1997∼2000) and monitoring data (1999∼2001) from food-safety related institutes. Data on food consumption came from the 2001 National Health and Nutrition Survey, and dose-response models from studies in other countries. Simulation results showed that there were 753,368 cases of salmonellosis in Korea in 1 year, which is about 115 times that reported in previous years and lower than the WHO's estimation increase. From these results, microbial risk assessment is likely to be available for estimation of the number of foodborne illnesses and determination of the order of priority in food-safety management. Butthe verification methods are not established and most of the data on contamination levels of foodborne bacteria, food consumption, and dose-response relationships have not been established. In addition, the actual conditions of circulation, storage and cooking must be studied further.

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Risk analysis of the old pipe networks for priority determination of renovation (노후 상수관망 개량 우선순위 결정을 위한 구역별 위험도 분석)

  • Lee, Jae Hyeon;Lee, Sang Mok;Park, Byung Soo;Kwon, Hyuk Jae
    • Journal of Korea Water Resources Association
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    • v.55 no.spc1
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    • pp.1167-1175
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    • 2022
  • In this study, management index method has been developed to estimate the level of deterioration, applied to Cheongju city, and compared with the previous estimation methods of deterioration level of water distribution system. From the results, distribution systems of Yullyang, Naedeok1 and Yongam2 are found to be seriously deteriorated. And it was also found that probability of pipe breakage was estimated as 3.21%, 4.64% which is highest level at the steel pipe of 200 mm and 300 mm diameter. It was found that risk degree was estimated as 0.2609, 0.2644 by using management index method in Naedeok1 which is the most dangerous distribution system in the city. It was also found that results of risk analysis by management index method have been similar with the results of safety analysis by reliability method and indirect estimation method of deterioration level. Therefore, newly developed management index method can be applied and may be useful to the estimation of deterioration level for the future maintenance and management of water distribution system.

A Methodology of Open BIM-based Quantity take-off for Schematic Estimation of the Frame Work in Early Design Stage

  • Hansaem Kim;Jungsik Choi;Inhan Kim
    • International conference on construction engineering and project management
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    • 2013.01a
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    • pp.419-425
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    • 2013
  • Recently AEC industry has required construction automation according to becoming large and complex. Thus BIM-based construction project is increased and used in whole fields of AEC industry. Quantity take-off and estimation fields are important factor for decision-making in conceptual and schematic design stages of construction projects. The purpose of this study improves reliability of the estimation through QTO based on Open BIM. Scope and method to apply QTO is to select conceptual design stage through LoD(Level of Detail) in AEC field and to extract information from BIM model through analysis of IFC structure. This study proceeds three step to make BIM model and check the model quality and calculate QTO. The methodology of QTO using IFC is to verify of result in this study and expects utilizing in design stage of construction projects. The result from this study is expected to decrease the risk factor and time of estimation in the project early phase through improving reliability of schematic estimation.

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Economic FX Rate Exposure Management and Invoicing Currency Determination (경제적(經濟的) 환율노출관리(換率露出管理)와 송장통화결정(送狀通貨決定))

  • Moon, Chang-Kuen;Yim, Chun-Ho
    • International Commerce and Information Review
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    • v.9 no.4
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    • pp.107-125
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    • 2007
  • With the rapidly increasing of Korean enterprises, the importance of foreign exchange(FX) risk management for the future operation generated from FDI contract is becoming the critical problem of international business. This type of FX risk, called as "economic exposure risk", requires us of the unique risk management principles and techniques. In this paper, we identify the properties of economic exchange rate exposure, analyze the identification and measurement processes of risk sources and strength, and perform the estimation of the main determinants and its profile effects of the invoicing currency for the efficient management of economic FX exposure.

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A Study on Risk Selection Behavior of Japanese Households: Focusing on the relationship between income level and hyperbolic discount (日本家計のリスク選択行動に関する研究 - 所得水準と双曲性の関係を中心に -)

  • Yeom, Dong-ho
    • Analyses & Alternatives
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    • v.4 no.1
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    • pp.105-123
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    • 2020
  • This study analyzes the risk selection behavior of Japanese households. The study approaches the view of 'the hyperbolic discount' which is used in behavioral economics based on the rise in mortgage lending by low-income households in the late 2000s. The study focuses on how households risk preferences vary by income levels. The study analyzes the relationship of attitude of household interest rate risk using Binomial Logistic and Heckman two-step estimation method assuming that there are only two types of Adjustable-Rate Mortgage and Fixed-Rate Mortgage. As a result of the empirical analysis, low-income households annual income tend to have a higher proportion of housing debt as same as higher interest rate risk preferences households in proportion to income growth and interest rate risk preferences. Those results indicate that there is possibility of a hyperbolic discount on low-income households in Japan, and support the hypothesis that low-income households are relatively higher household debt ratio because of high utility due to home purchase in the near future (short-term).

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