• The Korean Journal of Financial Management
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• v.25 no.4
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• pp.145-182
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• 2008

As the life expectancy increases resulting in the aged society, the post-retirement life became one of the most important concerns of people. The long-term investment vehicles such as retirement savings and pension plans have been introduced to meet such demand of society. This paper examines the impact of asset allocation strategies on the long-term investment performance. Because of the unusually long investment horizon and the compounding effect, a suboptimal asset mix in a retirement plan can be a very costly and irreversible mistake. Instead of relying on anecdotal evidence to evaluate the merits of different allocation strategies, this paper performs various tests including stochastic dominance tests using both actual data and Monte Carlo simulated data that best fit the historical experience. The results indicate 1) the long-term investments perform better than the short-term investments, 2) the optimal asset allocation strategy for the long-term investments should be highly equity dominated.

• Journal of the Korean Mathematical Society
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• v.39 no.4
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• pp.543-558
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• 2002

We investigate the fragmentation process developed by Kolmogorov and Filippov, which has been studied extensively by many physicists (independently for some time). One of the most interesting phenomena is the shattering (or disintegration of mass) transition which is considered a counterpart of the well known gelation phenomenon in the coagulation process. Though no masses are subtracted from the system during the break-up process, the total mass decreases in finite time. The occurrence of shattering transition is explained as due to the decomposition of the mass into an infinite number of particles of zero mass. It is known only that shattering phenomena occur for some special types of break-up rates. In this paper, by considering the n-particle system of stochastic fragmentation processes, we find general conditions of the rates which guarantee the occurrence of the shattering transition.

• Journal of Korean Society of Transportation
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• v.1 no.1
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• pp.64-81
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• 1983

소비자 행태에 관한 신고전 경제이론을 통행수요의 분석에 그대로 적용하는데 문제 가 되는 특기 사항으로는 운임이외에 통행시간과 같은 서어비스 질도 통행수단의 선택에 영 향을 미친다는 점과 특정 두지점간의 통행에서 동일한 소비자도 여러 수송수단을 이용한다 는 점을 들수 있다. 본 연구의 주제는 이와같은 통행수요의 독특한 특성을 반영할 수 있는 소비자의 효용최대화모형의 설정과 이 모형에서 유도된 수요함수의 구조를 분석함에 있다. 상술하면, 통행시간 가치의 불확실성 아래에서 효용을 극대화하는 의사결정문제를 Stochastic Programming 모형으로 표현하였다. 또한 이 모형에서 유도된 특성 통행수단의 수요함수는 이 수단이 가장 유리한 시간가치의 범위에 대한 부정적분으로 표현되며 이 적분 범위와 피적분함수는 모든 경쟁수단의 운임과 통행수단의 함수로 정의됨을 증명하였다. 또 한 수요함수는 통행수요에 관한 통계분석모형에서 묵시적으로 가정되고 있는 통행수단간 대 체성(Property of gross substitute)과 대각방향우세성(Property of diagonal dominance)등의 특성을 가지고 있음을 보여 주었다.

• Journal of Korean Society of Forest Science
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• v.110 no.4
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• pp.577-589
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• 2021

Soil seed bank community contributes to the long-term conservation of plant diversity and vegetation dynamics, and their decreasing diversity and density with soil depth provide critical perspectives (deterministic and stochastic) for understanding the community disassembly process. We analyzed changes in species composition and diversity and structuring patterns by soil layer (top and bottom), including surface vegetation, in Gwangneung Forest, a mature forest with a vegetation climate in the temperate central part of the Korean Peninsula. From two layers of soil collected with a vertical difference of 10 cm, 934 specimens of 27 families, 40 genera, 44 species, three varieties, and 47 taxa, germinated. Although species diversity and germination density decreased in most comparative characteristics, including growth type, there was no statistical significance due to large deviations. Within-group variability of species composition was similar in the upper and lower soils, as was the decline pattern in co-occurred species (ζ-diversity) and change in species retention probability. The structuring process of the community composition in the two soil layers was fitted with an exponential correlation rather than a power function, demonstrating the dominance of the stochastic process. The pattern in diversity and species turnover according to soil depth in Gwangneung Forest was discovered to be structured by stochastic random events, such as seed vertical movement rather than interaction with trait characteristics.

• ALGAE
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• v.26 no.1
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• pp.51-60
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• 2011

Similar to other species of Gigartinaceae Chondrus crispus has an alternation of perennial, isomorphic gametophytic and sporophytic generations. As these two generations co-exist independently within populations and obtain their resources in a similar manner, intraspecific competition is expected. In populations within the southern Gulf of St. Lawrence, fronds of both generations of C. crispus occur in similar numbers. This equivalency can be related to substratum instability, where the population is dynamic with a high turn-over rate of genets. These observations support a stochastic hypothesis to account for distribution of gametophytes and sporophytes in this area. Along the Atlantic coast of Nova Scotia, where the substratum is stable, gametophytes are overwhelmingly predominant. Gametophytic predominance is greatest in the lower littoral zone where C. crispus is abundant and space is limited. Under the fucoid canopy where "free-space" exists, the gametophyte to sporophyte ratio is lower. Gametophytic and sporophytic fronds are distributed equally among different size-classes and size-distribution is not considered a competitive factor. Previous studies have shown that sporophytic fronds of C. crispus are more susceptible to infections by endophytic algae and other pathogens, and are more heavily grazed by herbivores than are gametophytic fronds. Thus, mechanistic factors are strongly implied in the selection of gametophytes in the Atlantic population.

• Advances in aircraft and spacecraft science
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• v.4 no.5
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• pp.585-611
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• 2017

This article covenants with the post buckling witticism of carbon nanotube reinforced composite (CNTRC) beam supported with an elastic foundation in thermal atmospheres with arbitrary assumed random system properties. The arbitrary assumed random system properties are be modeled as uncorrelated Gaussian random input variables. Unvaryingly distributed (UD) and functionally graded (FG) distributions of the carbon nanotube are deliberated. The material belongings of CNTRC beam are presumed to be graded in the beam depth way and appraised through a micromechanical exemplary. The basic equations of a CNTRC beam are imitative constructed on a higher order shear deformation beam (HSDT) theory with von-Karman type nonlinearity. The beam is supported by two parameters Pasternak elastic foundation with Winkler cubic nonlinearity. The thermal dominance is involved in the material properties of CNTRC beam is foreseen to be temperature dependent (TD). The first and second order perturbation method (SOPT) and Monte Carlo sampling (MCS) by way of CO nonlinear finite element method (FEM) through direct iterative way are offered to observe the mean, coefficient of variation (COV) and probability distribution function (PDF) of critical post buckling load. Archetypal outcomes are presented for the volume fraction of CNTRC, slenderness ratios, boundary conditions, underpinning parameters, amplitude ratios, temperature reliant and sovereign random material properties with arbitrary system properties. The present defined tactic is corroborated with the results available in the literature and by employing MCS.

• Journal of Ecology and Environment
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• v.45 no.3
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• pp.97-104
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• 2021

Background: Asarum sieboldii Miq., a species of forest understory vegetation, is an herbaceous perennial belonging to the family Aristolochiaceae. The metapopulation of A. sieboldii is distributed sparsely and has a short seed dispersal distance by ants as their seed distributor. It is known that many flowers of A. sieboldii depend on self-fertilization. Because these characteristics can affect negatively in genetic structure, investigating habitat structure and assessment of genetic structure is needed. A total of 27 individuals in a valley were sampled for measuring genetic diversity, genetic distance, and genetic differentiation by RAPDPCR. Results: The habitat areas of A. sieboldii metapopulation were relatively small (3.78~33.60 m²) and population density was very low (five to seven individuals in 20×20 m quadrat). The habitat of A. sieboldii was a very shady (relative light intensity = 0.9%) and mature forest with a high evenness value (J = 0.81~0.99) and a low dominance value (D = 0.19~0.28). The total genetic diversity of A. sieboldii was quite high (h = 0.338, I = 0.506). A total of 33 band loci were observed in five selected primers, and 31 band loci (94%) were polymorphic. However, genetic differentiation along the valley was highly progressed (G_st = 0.548, N_m = 0.412). The average genetic distance between subpopulations was 0.387. The results of AMOVA showed 52.77% of variance occurs among populations, which is evidence of population structuring. Conclusions: It is expected that a small-scale founder effect had occurred, an individual spread far from the original subpopulation formed a new subpopulation. However, geographical distance between individuals would have been far and genetic flow occurred only within each subpopulation because of the low density of population. This made significant genetic distance between the original and new population by distance. Although genetic diversity of A. sieboldii metapopulation is not as low as concerned, the subpopulation of A. sieboldii can disappear by stochastic events due to small subpopulation size and low density of population. To prevent genetic isolation and to enhance the stable population size, conservative efforts such as increasing the size of each subpopulation or the connection between subpopulations are needed.