• Journal of the Korean Society of Food Culture
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• v.7 no.2
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• pp.91-96
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• 1992

Eight hundred college students in Seoul area were surveyed for consumer behaviors and opinions about fast food restaurants at library, student center and class room from August 26 to 30, 1991. The result of this study showed that 70% of college students preferred to eat hamberger or chicken and 49% of them visited to fast food restaurants 1-3 times per month. The reasons given by students for patronizing fast food restaurants were the following, from most to least frequence: 'convenient', 'pleasant atmosphere', 'nice place to stay with friends', 'taste of food', 'speed of service', 'to be able to stay as long as I want', 'hygiene', 'variety of food price', 'nutritious food'. Majority of college students(71%) selected their food by preference, but 22% of them done by price. They were least satisfied with price and quantity of fast food. Therefore, it is important to develop domestic brand fast food restaurants to lower the price of fast food.

• Journal of Fisheries and Marine Sciences Education
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• v.27 no.6
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• pp.1610-1618
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• 2015

This study is aimed to estimate price interactions between wild caught fish and farmed fish on the Korean seafood market, using multivariate cointegration analysis. Major commercially important four wild caught fish (chub mackerel, hairtail, yellow croaker and spanish mackerel) and two farmed fish(oliver flounder and black rockfish) are selected as analytical target fish species. Between 2000 and 2013, monthly production and price data are used in this study. The results of cointegration test showed that there would be a long-term equilibrium relationship among 4 wild caught fish and 2 farmed fish. However, the results of exclusion test indicated that farmed fish might not contribute significantly to the long-run relationship, suggesting that farmed fish might be only a weak substitute for wild caught fish, but no significant interaction could be found.

• Architectural research
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• v.13 no.3
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• pp.49-56
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• 2011

Competitive bidding in construction is concerned with contractors making strategic decisions in respect of determination of bid price if contractors opt to bid. This study presents a strategy model for deciding optimum tender price with reflecting appropriate profit in competitive bidding using Bayesian regression analysis (BRA). The purpose of the developed model is to help contractors to secure suitable profitability by predicting the actual profit based on key variables. They may affect construction cost at bidding phase, ultimately which help contractors to secure high quality output. The model was tested empirically by application to a bidding dataset collected from a large South Korea contractor. BRA allows contractors to estimate more accurate actual profit by reflecting not only objective information but also subjective experiences and judgments. Consequently, the model can contribute to improvement of decision-making process for setting an optimum tender price.

• The Korean Journal of Financial Management
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• v.26 no.1
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• pp.65-94
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• 2009

The event of change in KOSPI 200 Index composition is one of the main subjects for the test of EMH. According to EMH, when a certain event is not related with firm's fundamental value, stock price should not change after the announcement of news. This hypothesis leads us to the conclusion of horizontal demand curve of stock. This logic was questioned by Shleifer(1986) and argued that downward sloping demand curve hypothesis was supported. But Harris and Gruel(1986) found a different empirical evidence that price reversal occurs in the long run, which is called price pressure hypothesis. They argued that short term price effect by large block trading (price pressure) is offset in the long run because these event is unrelated to fundamental value. Therefor, they argued that EMH can not be rejected in the long run. Until now, there are two empirical studies with Korean market data in this area. Using a data with same time period of $1996{\sim}1999$, Kweon and Park(2000) and Ahn and Park(2005) showed that stock price or beta is not significantly affected by change in index composition. This study retested this event expanding sample period from 1996 to 2006, and analyzed why this event was considered an uninformative events in the preceding studies. We analyzed a market impact by separating samples according to firm size and market condition. In case of newly enlisted firm, we found the evidence supporting price pressure hypothesis on average. However, we found the long run price effect in the sample of large firms under bearish markets. At the same time, we know that the number of samples under the category of large firms under bearish markets is relatively small, which drives the same result of supporting the hypothesis that change in index composition is a non-informative event on average. Also, the long run price effect of large size firms under bearish markets was supported by the analyses using trading volumes. On the other hand, in case of delisting from the index, we found the long run price effect but that was not supported by trading volume analyses.

• Korean Journal of Agricultural Science
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• v.43 no.1
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• pp.136-143
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• 2016

Garlic and onion are staple agricultural products to Koreans and also are important with regard to agricultural producers' income. These products' acreage responses are highly correlated with each other. Therefore, it is necessary to test whether there is a cointegration relationship between garlic acreage and onion acreage when one tries to estimate the acreage response's function. Based upon the test result of cointegration, it is confirmed that there is no statistically significant cointegration relationship between garlic acreage and onion acreage. In this case, vector autoregressive model is preferred to vector error correction model. This study investigated the dynamic relationship between garlic and onion acreage responses using vector autoregressive (VAR) model. The estimated results of VAR acreage response models show that there is a statistically significant relationship between current and lagged acreage of more than one lag. Therefore, it is recommended that government should consider the long-run period's relationship of each product's acreage when it plans a policy for stabilizing the supply and demand of garlic and onion. For the price variables, garlic price only affects garlic acreage response while onion price affects not only onion acreage response but also garlic acreage response. This implies that the stabilizing policy for onion price could have bigger effects than that for garlic price stabilization.

• Preventive Nutrition and Food Science
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• v.17 no.1
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• pp.71-77
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• 2012

Hangwa is a traditional food, corresponding to the current consumption trend, in need of marketing strategies to extend its consumption. Therefore, the purpose of this study was to analyze consumers’ consumption patterns and perception of Hangwa to increase consumption in the market. A questionnaire was sent to 250 consumers by e-mail from Oct 8~23, 2009 and the data from 231 persons were analyzed in this study. Statistical, descriptive, paired samples t-test, and importance-performance analyses were conducted using SPSS WIN 17.0. According to the results, Hangwa was purchased mainly 'for present' (39.8%) and the main reasons for buying it were 'traditional image' (33.3%) and 'taste' (22.5%). When importance and performance of attributes considered in purchasing Hangwa were evaluated, performance was assessed to be lower than importance for all attributes. The attributes in the first quadrant with a high importance and a high performance were ‘a sanitary process’, ‘a rigorous quality mark’ and ‘taste’, which were related with quality of the products. In addition, those with a high importance but a low performance were ‘popularization through advertisement’, ‘promotion through mass media’, ‘conversion of thought on traditional foods’, ‘a reasonable price’ and ‘a wide range of price’. In conclusion, Hangwa manufacturers need to diversify products and extend the expiration date based on technologies to promote its consumption. In terms of price, Hangwa should become more available by lowering the price barrier for consumers who are sensitive to price.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.54 no.2
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• pp.79-87
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• 2005

At present Cournot model is one of the most commonly used theories to analyze the gaming situation in oligopoly market. But there exist several problems to apply this model to electricity market. The representative one is to obtain the inverse demand curve able to be induced from the relationship between market price and demand response. In Cournot model, each player offers their generation quantity to accomplish maximum profit, which is accomplished by reducing their quantity compared with available total capacity. As stated above, to obtain the probable Cournot equilibrium to reflect real market situation, we have to induce the correct demand function first of all. Usually the correlation between price and demand appears on the long-term basis through the statistical data analysis (for example, regression analysis) or by investigating consumer utility functions of several consumer groups classified as residential, industrial, and commercial. However, the elasticity has a tendency to change continuously according to the total market demand size or the level of market price. Therefore it should be updated as trading period passes by. In this paper we propose a method for inducing and updating this price elasticity of demand function for more realistic market equilibrium.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.35 no.1
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• pp.1-9
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• 2012

It is well known that internet shoppers are very sensitive to sale prices. They visit the various shopping malls and collect the product information including purchase conditions for goods purchase decision-making. Recently the necessity of information support is increasing because of increase of information amount which is necessary and complexity of goods purchase decision-making process. The comparison shopping agent systems have provided price comparison information which is collected from various shopping malls to satisfy internet shoppers information craving. But the frequent price change caused by keen price competition is becoming the primary reason of information quality decline among price comparison sites. RSS which is a family of web feed formats used to publish frequently updated is applied even in on-line shopping malls. This paper develops a RSS product information collection system to get real-time product information. The proposed product information system consists of (1) web crawler module for searching RSS feed shopping malls automatically, (2) RSS reader module for parsing product information from RSS feed file, (3) product DB and (4) product searching module. Performance of the proposed system is higher than the comparison shopping agent systems when it is defined with the volume of collecting product information per unit time.

• Proceedings of the Korean Institute of Building Construction Conference
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• 2020.06a
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• pp.202-203
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• 2020

Unlike price calculation by cost accounting, which categorizes costs into material costs, labor costs, and miscellaneous expenses to determine the construction budget price, construction cost calculation based on Construction Standard Unit Prices utilizes unit prices extracted from market prices of items from projects already completed to estimate costs of similar construction projects. Although unit price information is collected through construction site surveys to revise these construction standard unit prices every year, but due to the limitations of the site survey method, it is difficult to quickly implement the rapid changes in the construction methods and market prices. As such, an important issue that arose was the identification of work items whose prices need urgent revision. This study conducted research on factors that need to be considered when developing online survey system for monitoring construction site market prices. This study is expected to enhance convenience for users, and provide an efficient data collection and management system for administrators.

• The Korean Journal of Franchise Management
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• v.14 no.4
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• pp.17-33
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• 2023

Purpose: This study divides choice attributes that can help strengthen the competitiveness of traditional markets into product, price, personnel, and physical evidence. This study also examines which choice attributes affect customer value perception, satisfaction, and loyalty. Research design, data, and methodology: The data were collected from 542 traditional customers aged 20 or older who frequently visit traditional markets across the country and analyzed using the Smart PLS 4.0 program. The survey was conducted with the help of an online survey company for a total of 14 days from April 7, 2023 to April 20, 2023. Result: First, product, price, and employee quality have a positive impact on utilitarian and hedonic value, but physical evidence does not. Second, product, price, and employee quality have a positive impact on hedonic and hedonic value. Second, utilitarian value has a positive impact on satisfaction and revisit intention. Third, hedonic value has a positive impact on satisfaction, but does not on revisit intention. Lastly, satisfaction has a positive impact on revisit intention. Conclusions: Based on the S-O-R model and the theory of consumption value, this study proposed and examined an integrated framework in which satisfaction leads to revisit intention through selection attributes acting on perceived value.