• Korean small business review
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• v.31 no.1
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• pp.73-88
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• 2009

This study examines the characteristics of 24 Korean hidden champions such as key success factors, core competences, strategic problems, and desirable future directions. The study categorized them into 8 types with Danny Miller's four trajectories and top manager's decision making style(rationality and passion). Danny Miller argued in his book, Icarus paradox, that outstanding firms will extend their orientations until they reach dangerous extremes and their momentum will result in common trajectories of decline. He suggested four very common success types: Craftsmen, Builders, Pioneers, Salesmen. He also suggested common trajectories of decline:Focusing(from Craftsmen to Tinkers), Venturing(from Builders to Imperialists), Inventing(from Pioneers to Escapists), Decoupling(from Salesmen to Drifts). In Korea, successful startups appear to possess three kinds of drive: Technology-drive, Vision-drive, Market-drive. Successful technology-driven firms tend to grow as craftsmen or pioneers. Successful vision-driven and market-driven ones tend to grow as builders and salesmen respectively. Korean top managers or founders seem to have two kinds of decision making style: Passion-based and Rationality-bases. Passion-based(passionate) entrepreneurs are biased towards action or proactiveness in competing and getting things done. Rationality- based ones tend to emphasis the effort devoted to scanning and analysing information to better understand a company's threats, opportunities and options. Consequently this study suggested 4*2 types of Korean hidden champions: (1) passionate craftsmen, (2) rational craftsmen, (3) passionate builders, (4) rational builders, (5) passionate pioneers, (6) rational pioneers, (7) passionate salesmen, (8) rational salesmen. These 8 type firms showed different success stories and appeared to possess different trajectories of decline. These hidden champions have acquired competitive advantage within domestic or globally niche markets in spite of the weak market power and lack of internal resources. They have maintained their sustainable competitiveness by utilizing three types of growth strategy; (1) penetrating into the global market, (2) exploring new service market, (3) occupying the domestic market. According to the types of growth strategy, these firms showed different financial outcomes and possessed different issues for maintaining their competitiveness. This study found that Korean hidden champions were facing serious challenges from the transforming economic structure these days and possessed the decline potential from their success momentum or self-complacence. It argues that they need to take a new growth engine not to decline in the turbulent environment. It also discusses how firms overcome the economic crisis and find a new business area in promising industries for the future. It summarized the recent policy of Korean government called as "Green Growth" and discussed how small firms utilize such benefits and supports from the government. Other implications for firm strategies and governmental policies were discussed.

• Journal of Korea Society of Industrial Information Systems
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• v.28 no.6
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• pp.53-62
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• 2023

This paper has suggested the necessity of introducing training contents using XR(Extended reality) technology as a way to lower the high rate of nursing accidents among unskilled technical personnel in domestic shipbuilding industry, focusing on cable pulling using winch. The occurrence rate of nursing accidents in the domestic shipbuilding industry was almost double(197.4%) (2017~2020) when compared with other manufacturing industries. In particular, it is worth noting that more than 31.8% of nursing accidents in the shipbuilding industry occurred among workers whose job experience is no more than 6 months. Most of new workers are seen to have hard time due to several factors such as lack of work information, inexperience, and unfamiliarity with the working environments. This indicates that it is essential to incorporate more effective training method that could help new workers become familiar with technical skills as well as working environments in a short period of time. Currently, education/training at the domestic shipyard is biased toward technical skills such as welding, painting, machine installation, and electrical installation. Contrary, even more important training required to get new workers used to the working environment has remained at a superficial level such as explaining ship building processes using 2D drawings. This may be the reason why it is inevitable to repeat similar training at OJT (On-the-Job Training) even at the leading domestic companies. Domestic shipbuilding industries have been attracting a lot of new workers thanks to recent economic recovery, which is very likely to increase the occurrence of disasters. In this paper, the introduction of training using XR technology was proposed, and as a specific example, the process of pulling cables using winches on ships was implemented as XR-based training content by using Unity. Using the developed content, it demonstrated that new workers can experience the actual work process in advance through simulation in a virtual space, thereby becoming more effective training content that can help new workers become familiar with the work environment.

• Journal of the Daesoon Academy of Sciences
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• v.46
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• pp.1-32
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• 2023

The purpose of this article is to critically reflect on the 2022 national curriculum on religions. The perspective of this reflection is that since the religious curriculum is meant to be a national curriculum, it should be applicable to all high school students, be shareable, and function as a place for meta-reflection regarding the proper use of the category of religion. For this purpose, I reviewed the form and content of the 2022 curriculum on religions in Section 2. The form of the 2022 curriculum on religions looks similar to the previously utilized curriculum. However, the main change is that the subject of religions was arbitrarily placed into the category of 'subjects for choosing a career.' And the 2022 curriculum on religions has two characteristics in terms of content: the orientation of 'making religious people (spiritual formation)' and the reemergence of the concept of 'pseudo-religion.' In Section 3, I delved into the orientation of 'making religious people through religious reflection' among the characteristics of the 2022 curriculum on religions. In this process, I discovered that the concept of 'reflection as a metacognitive technology,' which was the core of the prior curriculum and school education, was transformed into the concept of 'religious reflection,' and the concepts of spirituality and religiosity were also added. In Section 4, I delved into the dichotomy of 'religion and pseudo-religion.' 'Pseudo-religion' is a new focus in the 2022 curriculum on religions. In this process, I revealed that the concept of 'pseudo-religion' is a combination of an outdated administrative term of the Japanese Government-General of Korea during Japan's occupation of Korea, and as such, the term is inherently value-laden and harmful. I also revealed that determining 'pseudo-religion' in school education regenerates the colonial Japanese Government-General's biased attitudes toward Korean religions and forces teachers to 'invent' (detect or personally appraise) modern day pseudo-religions through arbitrary judgements. The 'curriculum to emphasize religious reflection and detect pseudo-religions in order to create religious people' can distort the subject of religion in the national curriculum as into a 'subject for religion (promotion or degradation).' If this distortion continues, the appropriateness of curriculum on religions existing within the national curriculum will eventually become a subject of debate.

• The Korean Society of Law and Medicine
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• v.24 no.4
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• pp.67-101
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• 2023

The utilization of generative AI in the medical field is also being rapidly researched. Access to vast data sets reduces the time and energy spent in selecting information. However, as the effort put into content creation decreases, there is a greater likelihood of associated issues arising. For example, with generative AI, users must discern the accuracy of results themselves, as these AIs learn from data within a set period and generate outcomes. While the answers may appear plausible, their sources are often unclear, making it challenging to determine their veracity. Additionally, the possibility of presenting results from a biased or distorted perspective cannot be discounted at present on ethical grounds. Despite these concerns, the field of generative AI is continually advancing, with an increasing number of users leveraging it in various sectors, including biomedical and life sciences. This raises important legal considerations regarding who bears responsibility and to what extent for any damages caused by these high-performance AI algorithms. A general overview of issues with generative AI includes those discussed above, but another perspective arises from its fundamental nature as a large-scale language model ('LLM') AI. There is a civil law concern regarding "the memorization of training data within artificial neural networks and its subsequent reproduction". Medical data, by nature, often reflects personal characteristics of patients, potentially leading to issues such as the regeneration of personal information. The extensive application of generative AI in scenarios beyond traditional AI brings forth the possibility of legal challenges that cannot be ignored. Upon examining the technical characteristics of generative AI and focusing on legal issues, especially concerning the protection of personal information, it's evident that current laws regarding personal information protection, particularly in the context of health and medical data utilization, are inadequate. These laws provide processes for anonymizing and de-identification, specific personal information but fall short when generative AI is applied as software in medical devices. To address the functionalities of generative AI in clinical software, a reevaluation and adjustment of existing laws for the protection of personal information are imperative.

• Journal of the Korean Society of Clothing and Textiles
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• v.32 no.12
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• pp.1837-1847
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• 2008

The goal of this study is to express the image of chameleons-that change their colors by light, temperature and its mood-into the sexy styles of corresponding coquettish temperamental people in Wearable Art. The method used in this study was experimenting various production mediums, including creating the textured stretch fabric, in the process of expressing the conceptual characteristics of the chameleon in Wearable Art. The concept of the work was a concoction of 'tempting', 'splendid', 'brilliant', 'fascinating', etc. that highlighted the real disposition of the chameleon. The futuristic preference of the researcher was also implicated. "Comfortable" and "enjoyable" concepts via motions were improved with the its completeness. The point of the design and production is to express symbolically the chameleon in real life, analyzing its sleek body lines, conditional colors changing, outer skins and the cubic textures. The coquettish temperamental image, the conceptual image of the chameleon, was also expressed by implication into the whole work. The entire line of this work is body-conscious silhouette. It was symbolically selected to image the outline of the chameleon that has the slim and sleek body. The exposed back is intended to express symbolically the projected back bones of the chameleon. The hood of gentle triangle line expresses the smooth-lined head part. The irregular hemlines represent the elongated chameleon's tale. The chameleon with its colors of vivid tones is characterized the colors changing by its conditions. This point was importantly treated in the working process by trying the effects that the colors are seen slightly different according to the light and angles. The material was given the effect that its surface colors are seen different in lights and angles because of the wrinkles protruded lumpy-bumpy. The various stones of red and blue tones are very similar to the skin tones of the real chameleon, and their gradation makes the effect that the colors are visibly changed with each move. The textures of the chameleon were produced via the wrinkle effect of smoke-shape, which is the result of using the elastic threads on the basic mediums stitched with 50/50 chiffon and polyester along with velvet dot patterns. The stretching fabric by the impact of the elastic threads is as much suitable for making the body-conscious line. The stones are composed of acrylic cabochon and gemstone. They are symbolically expressed the lumpy and bumpy back skin of the chameleon and produced the effect of the colors visibly different. The primary technique used in this dress is the draping utilizing the biased grains. The front body piece is connected to the hood and joined to the back piece without any seam. For the irregular hemline flares, leaving the several rectangular pieces with bias grains, they were connected by interlocking. What defines the clothes is the person in action. Therefore, what decides the completeness of clothes might be its comfortable and enjoyable feeling by living and acting people. The chameleon dress could also reach its goal of comforting and pleasing Wearable Art in the process of studying the techniques and effects that visibly differentiate the colors. It is considered as a main point of the Wearable Art, which is a comfortable enjoyable clothing tempered with the artistic beauty.

• Journal of Global Scholars of Marketing Science
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• v.20 no.2
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• pp.188-198
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• 2010

This study attempts to examine the influence that negative WOM (NWOM) has in an online context. It specifically focuses on the impact of the service failure description and the perceived intention of the communication provider on consumer evaluations of firm competence, attitude toward the firm, positive word of mouth and behavioral intentions. Studies of communication persuasiveness focus on "who says what; to whom; in which channel; with what effect (Chiu 2007)." In this research study, we examine electronic web posting, particularly focusing on two aspects of "what": the level of service failure communicated and perceived intention of the individual posting. It stands to reason electronic NWOM that appears to be trying to damage a product’s or firm's reputation will be viewed as more biased and will thus be considered as less credible. According to attribution theory, people search for the causes of events especially those that are negative and unexpected (Weiner 2006). Hennig-Thurau and Walsh (2003) state "since the reader has only limited knowledge and trust of the author of an online articulation the quality of the contribution could be expected to serve as a potent moderator of the articulation-behavior relationship. We therefore posit the following hypotheses: H1. Subjects exposed to electronic NWOM describing a high level of service failure will provide lower scores on measures of (a) firm competence, (b) attitude toward the firm, (c) positive word of mouth, and (d) behavioral intention than will subjects exposed to electronic NWOM describing a low level of service failure. H2. Subjects exposed to electronic NWOM with a warning intent will provide lower scores on measures of (a) firm competence, (b) attitude toward the firm, (c) positive word of mouth, and (d) behavioral intention than will subjects exposed to electronic NWOM with a vengeful intent. H3. Level of service failure in electronic NWOM will interact with the perceived intention of the electronic NWOM, such that there will be a decrease in mean response on measures of (a) firm competence, (b) attitude toward the firm, (c) positive word of mouth, and (d) behavioral intention from electronic NWOM with a warning intent to a vengeful intent. The main study involved a2 (service failure severity) x2 (NWOM with warning versus vengeful intent) factorial experiment. Stimuli were presented to subjects online using a mock online web posting. The scenario described a service failure associated with non-acceptance of a gift card in a brick-and-mortar retail establishment. A national sample was recruited through an online research firm. A total of 113 subjects participated in the study. A total of 104 surveys were analyzed. The scenario was perceived to be realistic with 92.3% giving the scenario a greater than average response. Manipulations were satisfactory. Measures were pre-tested and validated. Items were analyzed and found reliable and valid. MANOVA results found the multivariate interaction was not significant, allowing our interpretation to proceed to the main effects. Significant main effects were found for post intent and service failure severity. The post intent main effect was attributable to attitude toward the firm, positive word of mouth and behavioral intention. The service failure severity main effect was attributable to all four dependent variables: firm competence, attitude toward the firm, positive word of mouth and behavioral intention. Specifically, firm competence for electronic NWOM describing high severity of service failure was lower than electronic NWOM describing low severity of service failure. Attitude toward the firm for electronic NWOM describing high severity of service failure was lower than electronic NWOM describing low severity of service failure. Positive word of mouth for electronic NWOM describing high severity of service failure was lower than electronic NWOM describing low severity of service failure. Behavioral intention for electronic NWOM describing high severity of service failure was lower for electronic NWOM describing low severity of service failure. Therefore, H1a, H1b, H1c and H1d were all supported. In addition, attitude toward the firm for electronic NWOM with a warning intent was lower than electronic NWOM with a vengeful intent. Positive word of mouth for electronic NWOM with a warning intent was lower than electronic NWOM with a vengeful intent. Behavioral intention for electronic NWOM with a warning intent was lower than electronic NWOM with a vengeful intent. Thus, H2b, H2c and H2d were supported. However, H2a was not supported though results were in the hypothesized direction. Otherwise, there was no significant multivariate service failure severity by post intent interaction, nor was there a significant univariate service failure severity by post intent interaction for any of the three hypothesized variables. Thus, H3 was not supported for any of the four hypothesized variables. This study has research and managerial implications. The findings of this study support prior research that service failure severity impacts consumer perceptions, attitude, positive word of mouth and behavioral intentions (Weun et al. 2004). Of further relevance, this response is evidenced in the online context, suggesting the need for firms to engage in serious focused service recovery efforts. With respect to perceived intention of electronic NWOM, the findings support prior research suggesting reader's attributions of the intentions of a source influence the strength of its impact on perceptions, attitude, positive word of mouth and behavioral intentions. The implication for managers suggests while consumers do find online communications to be credible and influential, not all communications are weighted the same. A benefit of electronic WOM, even when it may be potentially damaging, is it can be monitored for potential problems and additionally offers the possibility of redress.

• Korean Journal of Heritage: History & Science
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• v.49 no.2
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• pp.86-103
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• 2016

'Sukchunjeahdo' illustration-book, which was left by Han, Pil-gyo(韓弼敎 : 1807~1878)in the late Joseon Dynasty, includes pictorial record paintings containing government offices, Eupchi, and Feng Shui condition drawn by Gyehwa(界畵) method Sabangjeondomyobeop(四方顚倒描法) and is the rare historical material that help to understand spatial structure and landscape characteristics. Youngyuhyun(永柔縣) and Sincheongun(信川郡) town, the case sites of this study, show Feng Shui foundation structure and placement rules of government offices in the Joseon Period are applied such as 3Dan 1Myo(三壇一廟 : Sajikdan, Yeodan, Seonghwangdan, Hyanggyo), 3Mun 3Jo(三門三朝 : Oeah, Dongheon, Naeah) and Jeonjohuchim(前朝後寢) etc. by setting the upper and lower hierarchy of the north south central axis. The circulation system is the pattern that roads are segmented around the marketplace of the entrance of the town and the structure is that heading to the north along the internal way leads to the government office and going out to the main street leads to the major city. Baesanimsu(背山臨水 : Mountain in backward and water in front) foundation, back hill pine forest, intentionally created low mountains and town forest etc. showed landscape aesthetics well suited for the environmental comfort condition such as microclimate control, natural disaster prevention, psychological stability reflecting color constancy principle etc. and tower pavilions were built throughout the scenic spot, reflecting life philosophy and thoughts of contemporaries such as physical and mental discipline, satisfied at the reality of poverty, returning to nature etc. For government office landscape, shielding and buffer planting, landscape planting etc. were considered around Gaeksa(客舍), Dongheon(東軒), Naeah(內衙) backyard and deciduous tree s and flowering trees were cultivated as main species and in case of Gaeksa, tiled pavilions and pavilions topped with poke weed in tetragonal pond were introduced to Dongheon and Naeah and separate pavilions were built for the purpose of physical and mental discipline and military training such as archery. Back hill pine tree forest formed back landscape and zelkova, pear trees, willow trees, old pine trees, lotus, flowering trees etc. were cultivated as gardening trees and Feng-Shui forest with willow trees as its main species was created for landscape and practical purposes. On the other hand, various cultural landscape elements etc. were introduced such as pavilions, pond serving as fire protection water(square and circle), stone pagoda and stone Buddha, fountains and wells, monument houses, flagpoles etc. In case of Sincheongun town forest(邑藪), Manhagwan(挽河觀), Moonmujeong(文武井), Sangjangdae(上場岱) and Hajangdae(下場岱) Market place, Josanshup<(造山藪 : Dongseojanglim(東西長林)>, Namcheon(南川) etc. were combined and community cultural park with the nature of modern urban park was operated. In this context, government office landscape shows the garden management aspect where square pond and pavilions, flowering trees are harmonized around side pavilion and backyard. Also, environmental design technique not biased to aesthetics and ideological moral philosophy and comprehensively considering functionality (shielding and fire prevention, microclimate control, etc.) and environmental soundness etc. is working.

• Korean Journal of Heritage: History & Science
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• v.39
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• pp.95-130
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• 2006

Japanese government college researchers, including Sekino Tadashi(關野貞), have conducted research studies and collected data, on overall Korean cultural relics as well as Silla tumuli(新羅古墳) in the early modern times under the Japanese imperialistic rule. They were supported by the Meichi government in the early stage of research, by the Chosun government-general, and by their related organizations after Korea was coIonialized to carry out investigations on Korean antiquities, fine arts, architecture, anthropology, folklore, and so on. The objective for which they prosecuted inquiries into Korean cultural relics, including Silla tumuli, may be attributed to the purport to find out such data as needed for the theoretical foundation to justify their colonialization of Korea. Such a reason often showed locally biased or distorted views. Investigations and surveys had been incessantly carried out by those Japanese scholars who took a keen interest in Korean tumuli and excavated relics since 1886. 'Korea Architecture Survey Reports' conducted in 1904 by Sekino in Korea gives a brief introduction of the contents of Korean tumuli, including the Five Royal Mausoleums(五陵). And in 1906 Imanishi Ryu(今西龍) launched for the first time an excavation survey on Buksan Tumulus(北山古墳) in Sogeumgangsan(小金剛山) and on 'Namchong(南塚)' in Hwangnam-dong, which greatly contributed to the foundation of a basic understanding of Wooden chamber tombs with stone mound(積石木槨墳) and stone chambers with tunnel entrance(橫穴式石室墳). The ground plan and cross section of stone chambers made in 1909 at his excavation survey of seokchimchong(石枕塚) by Yazui Seiyichi(谷井第一) who majored in architecture made a drawing in excavation surveys for the first time in Korea, in which numerical expressions are sharply distinguished from the previous sketched ones. And even in the following excavation surveys this kind of drawing continued. Imanishi and Yazui elucidated that wooden chambers with stone mound chronologically differs from the stone chambers with tunnel entrance on the basis of the results of surveys of the locational characteristics of Silla tumuli, the forms and size of tomb entrance, excavated relics, and so forth. The government-general put in force 'the Historic Spots and Relics Preservation Rules' and 'the Historic Spots Survey Council Regulations' in 1916, establishing 'Historic Spots Survey Council and Museum Conference. When museums initiated their activities, they exhibited those relics excavated from tumuli and conducted surveys of relics with the permission of the Chosun government-general. A gold crown tomb(金冠塚) was excavated and surveyed in 1921 and a seobong tomb(瑞鳳塚) in 1927. Concomitantly with this large size wooden chamber tombs with stone mound attracted strong public attention. Furthermore, a variety of surveys of spots throughout the country were carried out but publication of tumuli had not yet been realized. Recently some researchers's endeavors led to publish unpublished reports. However, the reason why reports of such significant tumuli as seobong tomb had not yet been published may be ascribed to the critical point in those days. The Gyeongju Tumuli Distribution Chart made by Nomori Ken(野守健) on the basis of the land register in the late 1920s seems of much significance in that it specifies the size and locations of 155 tumuli and shows the overall shape of tumuli groups within the city, as used in today's distribution chart. In the 1930s Arimitsu Kyoichi(有光敎一) and Saito Tadashi(齋藤忠) identified through excavation surveys of many wooden chamber tombs with stone mound and stone chambers with tunnel entrance, that there were several forms of tombs in a tomb system. In particular, his excavation survey experience of those wooden chamber tombs with stone mound which were exposed in complicated and overlapped forms show features more developed than that of preceding excavation surveys and reports publication, and so on. The result of having reviewed the contents of many historic spots surveyed at that time. Therefore this reexamination is considered to be a significant project in arranging the history of archaeology in Korea.

• Asia Marketing Journal
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• v.14 no.1
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• pp.83-98
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• 2012

In a market where new and used cars are competing with each other, we would run the risk of obtaining biased estimates of cross elasticity between them if we focus on only new cars or on only used cars. Unfortunately, most of previous studies on the automobile industry have focused on only new car models without taking into account the effect of used cars' pricing policy on new cars' market shares and vice versa, resulting in inadequate prediction of reactive pricing in response to competitors' rebate or price discount. However, there are some exceptions. Purohit (1992) and Sullivan (1990) looked into both new and used car markets at the same time to examine the effect of new car model launching on the used car prices. But their studies have some limitations in that they employed the average used car prices reported in NADA Used Car Guide instead of actual transaction prices. Some of the conflicting results may be due to this problem in the data. Park (1998) recognized this problem and used the actual prices in his study. His work is notable in that he investigated the qualitative effect of new car model launching on the pricing policy of the used car in terms of reinforcement of brand equity. The current work also used the actual price like Park (1998) but the quantitative aspect of competitive price promotion between new and used cars of the same model was explored. In this study, I develop a model that assumes that the cross elasticity between new and used cars of the same model is higher than those amongst new cars and used cars of the different model. Specifically, I apply the nested logit model that assumes the car model choice at the first stage and the choice between new and used cars at the second stage. This proposed model is compared to the IIA (Independence of Irrelevant Alternatives) model that assumes that there is no decision hierarchy but that new and used cars of the different model are all substitutable at the first stage. The data for this study are drawn from Power Information Network (PIN), an affiliate of J.D. Power and Associates. PIN collects sales transaction data from a sample of dealerships in the major metropolitan areas in the U.S. These are retail transactions, i.e., sales or leases to final consumers, excluding fleet sales and including both new car and used car sales. Each observation in the PIN database contains the transaction date, the manufacturer, model year, make, model, trim and other car information, the transaction price, consumer rebates, the interest rate, term, amount financed (when the vehicle is financed or leased), etc. I used data for the compact cars sold during the period January 2009- June 2009. The new and used cars of the top nine selling models are included in the study: Mazda 3, Honda Civic, Chevrolet Cobalt, Toyota Corolla, Hyundai Elantra, Ford Focus, Volkswagen Jetta, Nissan Sentra, and Kia Spectra. These models in the study accounted for 87% of category unit sales. Empirical application of the nested logit model showed that the proposed model outperformed the IIA (Independence of Irrelevant Alternatives) model in both calibration and holdout samples. The other comparison model that assumes choice between new and used cars at the first stage and car model choice at the second stage turned out to be mis-specfied since the dissimilarity parameter (i.e., inclusive or categroy value parameter) was estimated to be greater than 1. Post hoc analysis based on estimated parameters was conducted employing the modified Lanczo's iterative method. This method is intuitively appealing. For example, suppose a new car offers a certain amount of rebate and gains market share at first. In response to this rebate, a used car of the same model keeps decreasing price until it regains the lost market share to maintain the status quo. The new car settle down to a lowered market share due to the used car's reaction. The method enables us to find the amount of price discount to main the status quo and equilibrium market shares of the new and used cars. In the first simulation, I used Jetta as a focal brand to see how its new and used cars set prices, rebates or APR interactively assuming that reactive cars respond to price promotion to maintain the status quo. The simulation results showed that the IIA model underestimates cross elasticities, resulting in suggesting less aggressive used car price discount in response to new cars' rebate than the proposed nested logit model. In the second simulation, I used Elantra to reconfirm the result for Jetta and came to the same conclusion. In the third simulation, I had Corolla offer $1,000 rebate to see what could be the best response for Elantra's new and used cars. Interestingly, Elantra's used car could maintain the status quo by offering lower price discount ($160) than the new car ($205). In the future research, we might want to explore the plausibility of the alternative nested logit model. For example, the NUB model that assumes choice between new and used cars at the first stage and brand choice at the second stage could be a possibility even though it was rejected in the current study because of mis-specification (A dissimilarity parameter turned out to be higher than 1). The NUB model may have been rejected due to true mis-specification or data structure transmitted from a typical car dealership. In a typical car dealership, both new and used cars of the same model are displayed. Because of this fact, the BNU model that assumes brand choice at the first stage and choice between new and used cars at the second stage may have been favored in the current study since customers first choose a dealership (brand) then choose between new and used cars given this market environment. However, suppose there are dealerships that carry both new and used cars of various models, then the NUB model might fit the data as well as the BNU model. Which model is a better description of the data is an empirical question. In addition, it would be interesting to test a probabilistic mixture model of the BNU and NUB on a new data set.