• Title/Summary/Keyword: economic decision-making

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Decision Methods for Evaluation of Alternatives (대안 평가를 위한 의사결정 기법)

  • Nam, Kie-Chang;Hong, Sang-Pyo
    • Journal of Environmental Impact Assessment
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    • v.9 no.4
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    • pp.363-372
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    • 2000
  • For any particular development project or environmental regulations, decision-making criteria is required and conflicts among criteria should be resolved. It is necessary to investigate criteria that government agencies employ in making decisions that influence the environment. The evaluation of alternative development proposals and regulatory measures involves much more than environmental issues. Economic, technical, and social factors should be considered along with environmental impacts when making evaluations. Evaluation should be based on values of all individuals who may be affected by public or private decisions. There are many evaluation methods for determining how individuals and groups value alternative public actions. Numerous weighting-scaling methodologies can be used in such evaluations. These methodologies represent adaptations of multiple-criteria or multiple-attribute decision-making techniques. Environmental risk assessment which accounts for uncertainties in choosing among alternative policies and projects is increasingly used.

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Employed Mens' Retirement and Reemployment Decision Making (직장인의 퇴직 및 재취업결정에 관한 연구)

  • Hong, Sung-Hee
    • Journal of Family Resource Management and Policy Review
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    • v.11 no.2
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    • pp.1-19
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    • 2007
  • The purpose of this study was to analyze the affecting factors on employed mens' retirement and reemployment decision making. The focus was on the process of employed mens' decision on retirement and their reemployment decision after retirement from present job. The major findings were as follows ; First, the employed men who had a retirement plan were having more household income, more household net asset, more savings and investment for elderly life, and more positive attitude toward retirement. Second, the major factors affecting on having retirement plan or not were employed mens' age, household income, expected income after retirement, savings and investment for elderly life, job, and attitude toward retirement. Third, the major affecting factors on expected retirement age were employed mens' age, health status, job security, and attitude toward retirement. Forth, the employed mens' reemployment decision was affected from their household income, expected income after retirement, pension ownership, and attitude toward retirement. From the findings, it can be concluded that the employed mens' age, economic status, and attitude toward retirement played a important role in the process of retirement and reemployment decision making.

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The Effects of Clothing Benefits on Delay of Decision Making and Shopping Information in Internet Shopping (의복추구혜택에 따른 인터넷 구매결정 연기와 쇼핑정보이용에 관한 연구)

  • Kim, Han-Na
    • Journal of the Korean Society of Clothing and Textiles
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    • v.32 no.5
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    • pp.766-776
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    • 2008
  • The purpose of this study was 1) to identify the reasons for delay of decision making and the shopping information in internet shopping, 2) to classify consumers based on the clothing benefits, 3) and to examine the differences among consumer groups in the reasons for delay of decision making and the shopping information. The data were collected from a sample of 500 internet shopper aged from 20 to 40. This study used factor analysis, multiple regression analysis, Pearson's correlation analysis, cluster analysis and ANOVA. The results showed that the reasons for delay of decision making consisted of eight factors: Performance risk, Comparison shopping, Economic shopping, Social risk, Uncertainty, Expecting of market change, Product unsatisfaction, Passive shopping. The shopping information consisted of three factors: Product variety, Product information, Additional information. Five factors of clothing benefits were Economy, Figure compensation, Social position, Individuality, and Comfort. The respondents were classified into four groups by five factors of clothing benefits; Individuality seeking group, Low-benefits seeking group, Economy seeking group, Figure compensation/comfort seeking group. There were significant differences among groups in the reasons for delay of decision making and the shopping information among groups. Therefore, marketers need to provide different shopping information for delay closure by target groups.

College Students' Decision-Making Styles : An Analysis from the Perspective of Consumer Socialization (소비자사회화 관점에서 본 대학생소비자의 의사결점 스타일)

  • Kim Young-Seen;Park Ji-Young
    • Journal of Families and Better Life
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    • v.23 no.3 s.75
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    • pp.77-91
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    • 2005
  • This study conceptualized the factors affecting college students' consumer decision-making styles from the perspective of consumer socialization. A number of antecedent variables identified by preceding studies (age, gender, place where one grew up, job experience, main reason for working, amount of allowance, family income, socio-economic status) and socialization agents such as family, peers, mass media were included in the analysis. This study extends previous studies by examining a theoretical link between the antecedent variables and socialization agents. Three hundred and forty one undergraduate students in Daejeon were participated in this study. Stepwise multiple regression md path analysis were conducted. The results of this study are as follows: 1. Six consumer decision-making styles were identified. 2. The influence of the socialization agents, especially mass media and several antecedent variables, especially gender and main reason for working, played important roles in consumer decision-making styles. 3. Several antecedent variables, especially gender and family income, were related only with the influence of socialization agents. 4. Six path-analysis models that illustrate the relationships among the antecedent variables, the socialization agents and consumer decision-making styles were proposed.

A Political Economic Analysis of Environmental Policy, Redistributive Policy, and Economic Growth (환경정책, 재분배정책, 경제성장에 관한 정치경제학적 분석)

  • KIM, Jaehoon
    • KDI Journal of Economic Policy
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    • v.33 no.2
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    • pp.145-175
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    • 2011
  • We analyse an overlapping generation model in which economic agents, especially their income distribution, influence environmental policy and redistributive policy through political decision making process. In an economic equilibrium which doesn't consider political process, the introduction of environmental policy is shown to increase economic growth rate. In contrast to an economic equilibrium, environmental policy can be adopted when economic inequality reduces to a certain threshold in a political economic equilibrium. The adoption of environmental policy, on the other hand, incurs the demand of strengthened redistributive policy, which in turn decreases economic growth in a short run. We discuss broad policy implications based on our political economic analyses.

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Creating the Optimal Product Business Management System for Social and Enterprise Development

  • Liao, Shih-chung
    • Journal of Distribution Science
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    • v.11 no.6
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    • pp.21-30
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    • 2013
  • Purpose - This paper examines product design management, the current design focus of which has shifted to the need to produce innovation applications that can effectively respond to the market's consumption changes in a timely manner. Research design, data, methodology - This study discusses several methodologies that are widely used in experimental processes, such as fuzzy theory, multi-criteria decision-making theory, and managing decision making. The designers will better understand their customers by applying these methodologies. This study examines how the current trend in product innovation design observes customer needs, controls innovation, and stimulates design ability. Results - This paper takes innovative telephone design as an experimental case to investigate how to create a product using market-oriented and customized management concepts and creative design abilities. Conclusions - If accompanied by an innovative product value chain, a product can further the development of enterprise management, now the main element of every developed country's social and economic development.

A Study on a Remodelling Decision-Making Model for Existing School Facilities (기존학교시설(旣存學校施設)의 리모델링 의사결정(意思決定) 모델에 관한 연구(硏究))

  • Lee, Hwa-Ryong;Kim, Jin-Man;Kim, Jun-Tae
    • Journal of the Korean Institute of Educational Facilities
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    • v.8 no.2
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    • pp.5-12
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    • 2001
  • As the exiting school facilities become old and unfit for new curriculum, the systematical remodelling process based on its educational and physical functions is required. due to the inadequate maintenance and repairing practices, unnecessary costs are expended. Therefore, this study aims to establish a remodelling decision-making model for improving the educational environment of the existing school facilities. According to the budget system, it proposes the concept of remodelling that includes the activities of extension, reconstruction, repair and improvement. This study classifies the performance evaluation for school facilities as that of safety, durability and educational function, and articulates the assessment standards, methods and elements. In the end, it suggests a rational model for remodelling decision-making that can provide efficient and comprehensive remodelling process, economic and sustainable school development.

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Financial Structural and Operational Characteristics and Management Decision-making Behavior of the Red-figured Hospitals (적자병원의 재무구조 및 운영적 특성과 경영의사결정 행태)

  • Hwang, In-Kyoung
    • Korea Journal of Hospital Management
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    • v.4 no.2
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    • pp.305-329
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    • 1999
  • Financial ratio indicators of the 46 sample hospitals provided by the Korea Health Industry Development Institute, together with the survey data responded by the 57 sample hospitals, were analysed to identify the characteristics of the red-figured hospitals' financial structure, financial operational efficiency and management decision-making behavior, The financial characteristics identified through the analysis include high dependency to liabilities, high salary expenses and overhead costs, low profitability of the unduly large amount of fixed assets, and low managerial efficieny of inventory. The hospitals, in face of the IMF economic impasse, took the necessary decision-making and counter measures to cut down salary expenses, to increase the number of patient and medical revenue, and to reduce investment to fixed assets. Based on these findings this study suggested that the hospitals should take more active cost containment measures, financial structural reorganization, and developoment of the strategies that can contribute to increase of the number of patient and medical revenue and that do not. require much capital funds.

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A Study on the Financial Decision-making for Stock Value Maximization (주가극대화형(株價極大化型) 재무의사결정(財務意思決定)에 관(關)한 연구(硏究))

  • Chang, Soo-Ho
    • The Korean Journal of Financial Management
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    • v.1 no.1
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    • pp.1-27
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    • 1985
  • One of the most important research works in modern business enterpise is the relation between the purpose of business enterprise and decision making behavior of manager. It is because the coincidence of the former and the latter is considered an ideal type in evaluating the result of business management. Here I have set up assumptions in order to solve the above statements: (1) What purpose does the modern business enterprise set up and what kind of economic background does it have? (2) What is the theory of maximization of stock value among the purposes of business enterprise? (3) What kind of decision making do we do in the maximization of stock value in busiess administration? (4) How is the behavior of business financial manager's intention and decision made? The result pursued under the above assumptions shows that business manager's behavior of decision making is affected according to the degree that he gets some information, but basically is determined in consideration of his autonomous standpoint, namely the stability of business enterprise and the stability of manager himself while he faithfully performs his duty which is entrusted by stockholders. Therefore we come to the conclusion that there is a little gap between a manager's behavior of decision-making and the purpose of stock value maximization.

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The Effect of Meteorological Information on Business Decision-Making with a Value Score Model (가치스코어 모형을 이용한 기상정보의 기업 의사결정에 미치는 영향 평가)

  • Lee, Ki-Kwang;Lee, Joong-Woo
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.30 no.2
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    • pp.89-98
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    • 2007
  • In this paper the economic value of weather forecasts is valuated for profit-oriented enterprise decision-making situations. Value is estimated in terms of monetary profits (or benefits) resulted from the forecast user's decision under the specific payoff structure, which is represented by a profit/loss ratio model combined with a decision function and a value score (VS). The forecast user determines a business-related decision based on the probabilistic forecast, the user's subjective reliability of the forecasts, and the payoff structure specific to the user's business environment. The VS curve for a meteorological forecast is specified by a function of the various profit/loss ratios, providing the scaled economic value relative to the value of a perfect forecast. The proposed valuation method based on the profit/loss ratio model and the VS is adapted for hypothetical sets of forecasts and verified for site-specific probability of precipitation forecast of 12 hour and 24 hour-lead time, which is generated from Korea meteorological administration (KMA). The application results show that forecast information with shorter lead time can provide the decision-makers with great benefits and there are ranges of profit/loss ratios in which high subjective reliability of the given forecast is preferred.