• Journal of Fisheries and Marine Sciences Education
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• v.28 no.6
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• pp.1792-1800
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• 2016

This study is aimed to analyze the profitability of flatfish fry production farms in the Republic of Korea. The continuous and stable production of flatfish fries is one of important factors that increases the possibility of flatfish aquaculture's success. It is also the basis of aquaculture industry that estimates the quantity and quality of fishery products from aquaculture. Based on the surveyed data, production values and costs of flatfish fry production are estimated and compared to determine the profitability of flatfish fry production by farm. Results show that average return on sales of farms is 21.2%(12.4~26.3%), indicating that flatfish fry production would be profitable under the current production and market conditions. Sensitivity analyses of main variables (survival rate and selling price) indicate that the profitability of flatfish fry production farms can be significantly decreased when the survival rate and selling price would be slightly decreased.

• Asia pacific journal of information systems
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• v.20 no.3
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• pp.33-49
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• 2010

We empirically examine the impact of online auction knowledge and category-specific knowledge on the final price of online auctions. Specifically, we question how the relationship between buying and selling experiences affects the final prices of online auctions. Related to the trust between buyers and sellers, we examine the multiple interactions between a buyer-seller pairand aim to identify how these repeated transactions influence the final price. To contrast these effects with other product related factors, we focus on so called 'common value' auctions of vintage stamps on eBay, in which the ex-post value of the product is the same among participating agents’ perceived value. Online auction of stamps provides a representative setting to examine the relationship between market experience and the auction participation behavior in the common value auction, as it provides the book value of stamp as well as price variation across individual buyers with different expertise levels. Our analysis of over 3000 stamps auctions on eBay indicates a significantly high frequency of buyer-seller (pair) interactions, thus suggesting a 'relationship view' of auctions. The work validates five hypotheses derived from the existing theory in economics, marketing, and information systems. Through the common-value auction data, we find that seller's online auction experience and category-specific experience favor sellers by increasing the final price. However, buyer's online auction experience does not affect the final price, but buyer's category-specific experience favors buyers by decreasing the final price. We find that the trust between two trading parties increases the final price.

• Industrial Engineering and Management Systems
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• v.8 no.1
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• pp.1-13
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• 2009

This paper presents a coordinated planning model of price-dependent demand for a single-manufacturer and a single-retailer. The demand is assumed to be normally distributed, with its mean being price dependent. The manufacturer and retailer coordinate with each other to jointly and simultaneously determine the retail selling price and the retailer order quantity to maximize the joint expected total profit. This model is then compared to a 'returns' policy model where manufacturer buys back unsold items from the retailers. It is shown that the optimal total profit is higher for coordinated planning model than that for the returns policy model, in which the retail price is set by the retailer. A compensation or profit sharing scheme is then suggested and it is shown that the coordinated model with profit sharing yields a 'win-win' situation. Numerical results are presented to illustrate the profit patterns for both linear and nonlinear demand functions. The coordinated planning model, in addition, has a lower optimal price than for a returns policy model, which would result in higher sales, thus expanding the markets for the whole supply chain.

• Journal of the Korean Data and Information Science Society
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• v.28 no.4
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• pp.819-829
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• 2017

The aim of this study is to analyze intraday price momentum. When price trends are formed, price momentum is the phenomenon that future prices tend to follow the trend. When the market opened and closed, a U-shaped trading volume pattern in which the trading volume was concentrated was observed. In this paper, we defined price momentum as the 10 minute trend after market opening is maintained until the end of market. The strategy is to determine buying and selling in accordance with the price change in the initial 10 minutes and liquidating at closing price. In this study, the strategy was empirically analyzed by using minute data, and it showed effectiveness, indicating the presence of an intraday price momentum. A pattern in which returns are increasing at an early stage is called a J-shaped pattern. If the J-shaped pattern occurs, we have found that the price momentum phenomenon tends to be stronger than otherwise. The DTW algorithm, which is well known in the field of pattern recognition, was used for J-shaped pattern recognition and the algorithm was effective in predicting intraday price movements. This study showed that intraday price momentum exists in the KOSPI200 futures market.

• Journal of Korean Society of Forest Science
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• v.87 no.3
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• pp.391-403
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• 1998

The study was carried out to devise a proper measure to increase the income of mountain villagers by producing sap water of Acer mono, and to make the most of sap water as local specialty to contribute to the local economy of mountain villages. All the processes from collecting to marketing of sap water of Acer mono was investigated. The survey was done from mid-January to mid-February in the 3 major sap water collecting regions, Toji-myon Kurey-gun(Piagol area of Mt. Chiri), Okryong-myon Kwangyang city(Mt. Baekun), and Jookhack-ri Sunchon(Mt. Chokey). A total of 90 householders who collect sap water, to say again, 30 householders in each region, were interviewed personally to make up questionnaires. The habitual or general practices about collecting sap water, the selling price, the sales process, labor power to collect and carry down, carrying distance and facilities, sales income and side income, and family income were investigated and examined. Spots of collecting sap water were not concentrated but scattered all over the collecting area. Collecting method, collecting amount, sales process, and selling price varied with the village and region. Sap water was collected by tapping or boring method, the latter of which was widely used in lots of regions except in Sunchon. Although the amount of sap production per family varied with region, the average amount was about 1,350 liters. Of all the sap water collected, 44% was consumed by drinking of on-the-spot visitors and 36% was sold by order, etc. Sap water was sold at the price varying from 10,000 won to 60,000 won per 18 liters. The average selling price was 41,000 won, but selling prices of 43,000 won and 45,000 wan amounted to 38% and 25%, respectively.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.13 no.8
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• pp.3747-3756
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• 2012

This paper examines the effect of price ceiling regulation on the new apartment price. The analysis procedure of the study is divided into two parts, which stand for a case study on the effect of price control on the new apartment price and the survey of real estate experts on price ceiling regulation. The empirical results of our case study show that the selling price under price ceiling regulation is generally lower than that in the situation of price deregulation, in terms of the land development expense and construction cost. With regard to the survey results, more than half of respondents have opinions that price ceiling regulation has an impact on the new apartment price and lowers the price. They are equally divided pro and con regarding the problem of keeping or discarding the regulation.

• International Journal of Fuzzy Logic and Intelligent Systems
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• v.16 no.1
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• pp.72-80
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• 2016

Re-auction happens when a bid winner defaults on the payment without making second in-line purchase declaration even after determining sales permission. This is a process of selling under the court's authority. Re-auctioning contract price of real estate is largely influenced by the real estate business, real estate value, and the number of bidders. This paper is designed to establish a statistical model that deals with the number of bidders participating especially in apartment re-auctioning. For these, diverse factors are taken into consideration, including ratio of minimum sales value from the point of selling to re-auctioning, number of bidders at the time of selling, investment value of the real estate, and so forth. As an attempt to consider ambiguous and vague factors, this paper presents a comparatively vague concept of real estate and bidders as trapezoid fuzzy number. Two different methods based on the least squares estimation are applied to fuzzy regression model in this paper. The first method is the estimating method applying substitution after obtaining the estimators of regression coefficients, and the other method is to estimate directly from the estimating procedure without substitution. These methods are provided in application for re-auction data, and appropriate performance measure is also provided to compare the accuracies.

• Journal of the Korean Operations Research and Management Science Society
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• v.35 no.4
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• pp.17-31
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• 2010

This study investigates two-stage return policy and recycling issues in an e-marketplace supply chain consisting of consumers, a retailer and a manufacturer. The manufacturer, a focal company in the e-marketplace supply chain, considers the recycling of commercial returns so offers the retailer a buy-back contract of which transfer payment consists of a wholesale price and a buy-back price. Then, under the given contract offer, the retailer determines a selling price and a return policy to control consumers' demand and return requests. We consider the retailer's opportunistic behavior and supply chain coordination issues based on the principal-agent paradigm. We compare the first-best and second-best optima and conduct comparative static analyses to evaluate the performance results of the buy-back contract and provide important managerial implications.

• Proceedings of the KIEE Conference
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• 2006.10c
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• pp.533-535
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• 2006

Cleaning robot that is selling in present city has various cleaning algorithm. However, error of most products happens on progress direction by small obstacle that do not properly and miss cleaning thereby happens. There is robot that correct own position, but is hard to use in general home because economical strain is very big because is high price product very. In this paper measures angular velocity of robot using deviation sensor, and do to correct error using turning angular velocity and vertical angular velocity. Because detailed cleaning such as high pice style is available without addition of expensive hardware in middle and low price style cleaning product thereby, can possess price competitive power.

• Journal of Korean Institute of Industrial Engineers
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• v.29 no.3
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• pp.239-246
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• 2003

Individual items are produced continuously from an industrial process. Each item is checked to determine whether it satisfies a lower screening limit for the quality characteristic which is the weight of an expensive ingredient. If it does, it is sold at a regular price; if it does not, it is reprocessed or sold at a reduced price. The process mean may be adjusted to a higher value in order to reduce the proportion of the nonconforming items. Using a higher process mean, however, may result in a higher production cost. In this paper, the optimal process mean and lower screening limit are determined in situations where the probability that an item functions well is given by a logistic function of the quality characteristic. Profit models are constructed which involve four price/cost components; selling prices, cost from an accepted nonconforming item, and reprocessing and inspection costs. Methods of finding the optimal process mean and lower screening limit are presented and numerical examples are given.