• Title/Summary/Keyword: The benefit estimation

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A Method to Determine the Purchasing Limits of Reservior Flooding Area by Rainfall Data Hydrologric Estimation (강우기록 및 수문계획에 의한 정수지수설지의 용지 현수험 결정방법)

  • 김주영
    • Magazine of the Korean Society of Agricultural Engineers
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    • v.11 no.3
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    • pp.1742-1748
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    • 1969
  • This is a method to determine the boundary line of reservoir flooding area which will be purchased. Until now, flood water level was used as the boundary line. By lowering this line from flood water level, purchasing cost of reservoir flooding area can be cut down. Sometimes, temporary flooding of arable land outside the boundary occurs. During the life of reservoir, flood damage to crop product on of this land must be indemified with net berefit from arable land between the bovndary line and normal water level. Following is the basic formula to determine the line. (Estimated flood damage to crop production of land outside the boundary line $\leqq$ Estimated net beneift from land between the boundary line and normal water level.) Minimum difference between both sides is needed to minimize the purchasing area. Flood damage and net benefit are estimated by hydrologic estimation with rainfall data and crop production estimation.

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Application of Constrained Bayes Estimation under Balanced Loss Function in Insurance Pricing

  • Kim, Myung Joon;Kim, Yeong-Hwa
    • Communications for Statistical Applications and Methods
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    • v.21 no.3
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    • pp.235-243
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    • 2014
  • Constrained Bayesian estimates overcome the over shrinkness toward the mean which usual Bayes and empirical Bayes estimates produce by matching first and second empirical moments; subsequently, a constrained Bayes estimate is recommended to use in case the research objective is to produce a histogram of the estimates considering the location and dispersion. The well-known squared error loss function exclusively emphasizes the precision of estimation and may lead to biased estimators. Thus, the balanced loss function is suggested to reflect both goodness of fit and precision of estimation. In insurance pricing, the accurate location estimates of risk and also dispersion estimates of each risk group should be considered under proper loss function. In this paper, by applying these two ideas, the benefit of the constrained Bayes estimates and balanced loss function will be discussed; in addition, application effectiveness will be proved through an analysis of real insurance accident data.

Maximum Likelihood (ML)-Based Quantizer Design for Distributed Systems

  • Kim, Yoon Hak
    • Journal of information and communication convergence engineering
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    • v.13 no.3
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    • pp.152-158
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    • 2015
  • We consider the problem of designing independently operating local quantizers at nodes in distributed estimation systems, where many spatially distributed sensor nodes measure a parameter of interest, quantize these measurements, and send the quantized data to a fusion node, which conducts the parameter estimation. Motivated by the discussion that the estimation accuracy can be improved by using the quantized data with a high probability of occurrence, we propose an iterative algorithm with a simple design rule that produces quantizers by searching boundary values with an increased likelihood. We prove that this design rule generates a considerably reduced interval for finding the next boundary values, yielding a low design complexity. We demonstrate through extensive simulations that the proposed algorithm achieves a significant performance gain with respect to traditional quantizer designs. A comparison with the recently published novel algorithms further illustrates the benefit of the proposed technique in terms of performance and design complexity.

Robust Pilot-aided Frequency Offset Estimation Scheme for OFDM-based Broadcasting System with Cyclic Delay Diversity

  • Shin, Won-Jae;You, Young-Hwan
    • KSII Transactions on Internet and Information Systems (TIIS)
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    • v.7 no.12
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    • pp.3055-3070
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    • 2013
  • This paper proposes an improved carrier frequency offset (CFO) and sampling frequency offset (SFO) estimation scheme for orthogonal frequency division multiplexing (OFDM) based broadcasting system with cyclic delay diversity (CDD) antenna. By exploiting a periodic nature of channel transfer function, cyclic delay and pilot pattern with a maximum channel power are carefully chosen, which helps to enable a robust estimation of CFO and SFO against the frequency selectivity of the channel. As a performance measure, a closed-form expression for the achievable mean square error of the proposed scheme is derived and is verified through simulations using the parameters of the digital radio mondiale standard. The comparison results show that the proposed frequency estimator is shown to benefit from properly selected delay parameter and pilot pattern, with a performance better than the existing estimator.

Economic-based approach for predicting optimal water pipe renewal period based on risk and failure rate

  • Kim, Kibum;Seo, Jeewon;Hyung, Jinseok;Kim, Taehyeon;Kim, Jaehag;Koo, Jayong
    • Environmental Engineering Research
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    • v.24 no.1
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    • pp.63-73
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    • 2019
  • This study suggests a method for calculating the benefits of water pipe renewal based on an estimate of the water supply suspension risk. The proposed method based on five benefit items is more direct and specific than other benefit estimation methods. In addition, a methodology evaluating the economics of pipe renewal based on pipe failure rate is proposed for estimating the optimal renewal point from an economic perspective. By estimating the optimal renewal period based on a yearly benefit cost ratio per pipe in a case study area, it was possible to draft an optimal renewal plan for the subject region from an economic perspective. Compared with other methodologies, a reasonable optimal renewal period was derived from an economic point of view. The result of this study may be used to develop future water pipe renewal plans. Moreover, the proposed methodologies and results derived from this study can be applied to asset management plans.

A Study on Cost-Benefit Analysis of BIM-based Integrated Design Process in Korean Architectural Offices (국내 설계사무소의 BIM기반 통합설계프로세스 도입에 따른 비용효과분석에 관한 연구)

  • Seo, Ji-Hyo;Choo, Seung-Yeon
    • Korean Journal of Computational Design and Engineering
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    • v.15 no.4
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    • pp.261-270
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    • 2010
  • These days, architectural projects are becoming larger and more complex. And lots of information occurs through each phases and areas. For these reason, it is emphasized that collaboration with other parts. Therefore we need more effective architectural design process. However, it is difficult to collaborate in early stage with existing design process and it causes unnecessary spending of time and cost because of 2D-based working system. For solving these problem, we should introduce BIM-based Integrated Design Process which makes it possible to collaborate with other parts from early stage. Now the AEC industry in Korea has been trying to introduce BIM, and promoting variety of related business. However, for actual application of this system, it is unfortunately necessary to change various system throughout the construction industry. And this will cause lots of effort and expense. It is essential that scientific analysis and evaluation of efficiency and validity about this investment, because estimation of the investment and accompanying effects will provide reasonable standard of judgment for investment decision. Thus, this research conducted Cost-Benefit Analysis about BIM-based Integrated Design Process compared to existing design process. It is expected that this paper can be used for preliminary data in the future BIM market.

A Benefit Analysis of Using Common Random Numbers When Optimizing a System by Simulation Experiments (시뮬레이션을 통한 시스템 최적화 과정에서 공통 난수 활용의 이점 분석)

  • 박진원
    • Journal of the Korea Society for Simulation
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    • v.9 no.4
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    • pp.1-10
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    • 2000
  • One of the primary goals of the simulation experiments is to understand the overall system behavior and to analyze the system, ultimately to optimize the system. Optimizing the system includes determining the optimum condition of the system parameters of interest. This paper is concerned with the simulation methodology for estimating the unknown objective function for the system of interest and optimizing the system with respect to the controllable factors. In the process of estimating the unknown objective function, which is assumed to be a second order spline function, we use common random numbers for different set of the controllable factors resulting in more accurate parameter estimation for the objective function. We will show some mathematical result for the benefit of using common random numbers.

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Development of the Optimal Reservoir Storage Determination Model for Supplying Rural Water (농업용 저수지 설계를 위한 저수량 최적화 모형의 개발)

  • 정하우;박태선;최진용
    • Magazine of the Korean Society of Agricultural Engineers
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    • v.40 no.2
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    • pp.69-80
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    • 1998
  • The optimal reservoir storage capacity is needed to be determined at the stage of reservoir planning. The reservoir storage capacity should be based on water balance between demand and supply, and meet the water deficity during the growing season. However, the optimal reservoir storage capacity should be determined considering benefit-cost analysis for the project. In this study, Two models are developed. The one is the RSOM(Reservoir Storage Optimization Model), that is consisted by three submodels, MROPER (Modified Reservoir OPERation model), RESICO(REservoir SIze and the construction COst computation) model. And the other is the BECA(BEnefit-Cost Anaysis) model. For model application, three districts, Chungha, Ipsil and Edong were selected. The relative difference of B/C ratio between project planning data and estimation by RSOM is 17.9, 15.0 and 7.3% respectively, which may be applicable for water resources development feasibility planning.

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Application of Risk Management to Forecasting Transportation Demand by Delphi Technique (Delphi기법을 통한 교통수요예측 Risk Management 적용 방안)

  • Chung, Sung-Bong
    • Journal of the Korea Safety Management & Science
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    • v.13 no.2
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    • pp.267-273
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    • 2011
  • Since 'The Act on Private Investment of The Infrastructure' was established in 1994, private investment as well as government's investment in transport infrastructure has been active. However investment in transport infrastructure has more risks than others' due to uncertainty both in traffic volume and in construction cost. In the current appraisal procedure of deciding transportation infrastructure investment, instead of risk management, the sensitivity analysis considering only the changes of benefit, cost and social discount rate which are main factor affecting economic feasibility is carried out. Therefore the uncertainty of various factors affecting demand, cost and benefit are not considered in feasibility study. In this study the problems in current investment appraisal system were reviewed. Using Delphi technique the major factors which have high uncertainty in feasibility study were surveyed and then improvement plan was suggested in the respective of classic 4 step demand forecasting method. The range estimation technique was also mentioned to deal with the uncertainty of the future.

An Economic Evaluation of an Integrated Service Platform of Open Access Research Papers (오픈액세스논문 통합서비스플랫폼의 경제성 평가)

  • Kwon, Nahyun;Pyo, Soon Hee;Lee, Jungyeoun;Kim, Wan Jong;Moon, Sunung
    • Journal of the Korean Society for Library and Information Science
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    • v.56 no.3
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    • pp.265-290
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    • 2022
  • An economic evaluation was conducted using cost-benefit analysis for an integrated service platform of open access research articles. The data needed for benefit measurement were collected by conducting a series of surveys to service beneficiaries, including 1,313 academic researchers, 49 bio-industry researchers, and 102 researchers in various industries. Cost-benefit analysis and sensitivity analysis were conducted after estimating the total costs for system construction and operations, anticipated direct and indirect benefits. With respect to the cost-benefit analysis limited to direct benefits, the estimated benefit was KRW 82 billion, which is about 14 times of the total costs for eight years of the entire business period. With respect to the cost-benefit analysis for both direct and indirect benefits, BCR was estimated to be about 98.9 and NPV to be KRW 538.8 billion, indicating that economic feasibility of the project was sufficiently secured. The results of this analysis may help securing the investment to the integrated service platform for OA research products, and the benefit estimation model developed in this study would be utilized as an assessment tool during the rest of this project.