• KDI Journal of Economic Policy
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• v.12 no.1
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• pp.127-148
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• 1990

A Milgrom-Roberts style signalling model of limit pricing is developed to analyze the possibility and the scope of limit pricing in general, noncooperative oligopolies. The model contains multiple incumbent firms facing a potential entrant and assumes an information asymmetry between incombents and the potential entrant about the market demand. There are two periods in the model. In period 1, n incumbent firms simultaneously and noncooperatively choose quantities. At the end of period 1, the potential entrant observes the market price and makes an entry decision. In period 2, depending on the entry decision of the entrant, n' or (n+1) firms choose quantities again before the game terminates. Since the choice of incumbent firms in period 1 depends on their information about demand, the market price in period 1 conveys information about the market demand. Thus, there is a systematic link between the market price and the profitability of entry. Using Bayes-Nash equilibrium as the solution concept, we find that there exist some demand conditions under which incumbent firms will limit price. In symmetric equilibria, incumbent firms each produce an output that is greater than the Cournot output and induce a price that is below the Cournot price. In doing so, each incumbent firm refrains from maximizing short-run profit and supplies a public good that is entry deterrence. The reason that entry is deterred by such a reduced price is that it conveys information about the demand of the industry that is unfavorable to the entrant. This establishes the possibility of limit pricing by noncooperative oligopolists in a setting that is fully rational, and also generalizes the result of Milgrom and Roberts to general oligopolies, confirming Bain's intuition. Limit pricing by incumbents explained above can be interpreted as a form of credible collusion in which each firm voluntarily deviates from myopic optimization in order to deter entry using their superior information. This type of implicit collusion differs from Folk-theorem type collusions in many ways and suggests that a collusion can be a credible one even in finite games as long as there is information asymmetry. Another important result is that as the number of incumbent firms approaches infinity, or as the industry approaches a competitive one, the probability that limit pricing occurs converges to zero and the probability of entry converges to that under complete information. This limit result confirms the intuition that as the number of agents sharing the same private information increases, the value of the private information decreases, and the probability that the information gets revealed increases. This limit result also supports the conventional belief that there is no entry problem in a competitive market. Considering the fact that limit pricing is generally believed to occur at an early stage of an industry and the fact that many industries in Korea are oligopolies in their infant stages, the theoretical results of this paper suggest that we should pay attention to the possibility of implicit collusion by incumbent firms aimed at deterring new entry using superior information. The long-term loss to the Korean economy from limit pricing can be very large if the industry in question is a part of the world market and the domestic potential entrant whose entry is deterred could .have developed into a competitor in the world market. In this case, the long-term loss to the Korean economy should include the lost opportunity in the world market in addition to the domestic long-run welfare loss.

• Korean Journal of Applied Biomechanics
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• v.15 no.4
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• pp.43-53
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• 2005

This study is to define how the difference of athletic change influence on the last regrasp after somersault in Belle movement of parallel bars. For his study, the following conclusion was produced by analysis of athletic change by means of three dimensional visual image in three athlete of nation. 1. As the picture of S1, there are total used time(2.01 sec), S3(2.17 sec) and S2(2.19 sec). In case of a short needed time, it is difficult for them to perform the remaining movement of the vertical elevating flight easily and comfortably, it is judged as performing the small movement with restrict swing. 2 In the change of body center sped by each event, it is calculated as $-89.1^{\circ}$ the narrowest in S1, $-81.96^{\circ}$ the widest and then $86.34^{\circ}$ in S3. In E3 event, average compound speed is 4.07m/s, S2 showed the fastest speed of 4.14m/s whereas S1 the narrowest angle of 3.95m/s. 3. A shoulder joint and coxa are the period of mention in E3. In E4 which was pointed out the longest vertical distance, S2 that is indicated the highest vertical height as the period of detach in parallel bars. showed -3.91m. This is regarded as a preparatory movement for dynamic performance after using effectively elastic movement of shoulder joint and coxa while easily going up with turning back movement. In the 5th phrase, long airborne time and vertical change position is showed as the start while regrasping securely air flight movement from high position. 4. In E5, a long flight time and a long vertical displacement were shown as the regrasp after somersault efficiently in high position with stability from the point of the highest peak of the center of the body. Especially, S2 is marked as a little bit long position, while S1 is reversely indicated as performing somersault and unstable motion in a low position. 5. In E3, at the point of the largest extension of the shoulder joint and hip joint the shoulder joint is largely marked in $182^{\circ}$ and the hip point $182^{\circ}$ in S2. The shoulder joint is marked at the smallest angle in $177^{\circ}$ and the hip point $176^{\circ}$ in S1. And S1 is being judged by its performance of the less self - confident motion with lessening a breath of swing. S2 makes the most use of flexion and extension of the shoulder joint and the hip joint effectively. It was performed greatly with swinging and dropping the rotary movement and the rotary inertia naturally. 6. In E6, as the point of regrasp of the upper arm in parallel bars it is recognized by the that of components of vertical and horizontal velocity stably. During this study, the insufficient thing and the study on the parallel bars at a real game later are more activated than now. If it is really used as the basic materials by means of Belle Picked Study of Super E level after Bell movement, you may perceive the technique movement previously and perform without difficulty. Especially, such technique as crucifix is quite advantageous for oriental people thanks to small body shape condition. In conclusion we will nicely prepare for our suitable environment to gradually lessen trials and errors by analyzing and studying kinematically this movement.

• Journal of Intelligence and Information Systems
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• v.22 no.4
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• pp.69-85
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• 2016

Successful relationship with loving partners is one of the most important factors in life. In psychology, there have been some previous researches studying the factors influencing romantic relationships. However, most of these researches were performed based on statistical analysis; thus they have limitations in analyzing complex non-linear relationships or rules based reasoning. This research analyzes commitment and persistence in heterosexual involvement according to styles of loving using a datamining technique as well as statistical methods. In this research, we consider six different styles of loving - 'eros', 'ludus', 'stroge', 'pragma', 'mania' and 'agape' which influence romantic relationships between lovers, besides the factors suggested by the previous researches. These six types of love are defined by Lee (1977) as follows: 'eros' is romantic, passionate love; 'ludus' is a game-playing or uncommitted love; 'storge' is a slow developing, friendship-based love; 'pragma' is a pragmatic, practical, mutually beneficial relationship; 'mania' is an obsessive or possessive love and, lastly, 'agape' is a gentle, caring, giving type of love, brotherly love, not concerned with the self. In order to do this research, data from 105 heterosexual couples were collected. Using the data, a linear regression method was first performed to find out the important factors associated with a commitment to partners. The result shows that 'satisfaction', 'eros' and 'agape' are significant factors associated with the commitment level for both male and female. Interestingly, in male cases, 'agape' has a greater effect on commitment than 'eros'. On the other hand, in female cases, 'eros' is a more significant factor than 'agape' to commitment. In addition to that, 'investment' of the male is also crucial factor for male commitment. Next, decision tree analysis was performed to find out the characteristics of high commitment couples and low commitment couples. In order to build decision tree models in this experiment, 'decision tree' operator in the datamining tool, Rapid Miner was used. The experimental result shows that males having a high satisfaction level in relationship show a high commitment level. However, even though a male may not have a high satisfaction level, if he has made a lot of financial or mental investment in relationship, and his partner shows him a certain amount of 'agape', then he also shows a high commitment level to the female. In the case of female, a women having a high 'eros' and 'satisfaction' level shows a high commitment level. Otherwise, even though a female may not have a high satisfaction level, if her partner shows a certain amount of 'mania' then the female also shows a high commitment level. Finally, this research built a prediction model to establish whether the relationship will persist or break up using a decision tree. The result shows that the most important factor influencing to the break up is a 'narcissistic tendency' of the male. In addition to that, 'satisfaction', 'investment' and 'mania' of both male and female also affect a break up. Interestingly, while the 'mania' level of a male works positively to maintain the relationship, that of a female has a negative influence. The contribution of this research is adopting a new technique of analysis using a datamining method for psychology. In addition, the results of this research can provide useful advice to couples for building a harmonious relationship with each other. This research has several limitations. First, the experimental data was sampled based on oversampling technique to balance the size of each classes. Thus, it has a limitation of evaluating performances of the predictive models objectively. Second, the result data, whether the relationship persists of not, was collected relatively in short periods - 6 months after the initial data collection. Lastly, most of the respondents of the survey is in their 20's. In order to get more general results, we would like to extend this research to general populations.