• Title/Summary/Keyword: economic decision-making

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An Integrated Environment and Economic Evaluation Model for Building Reconstruction and Remodeling Projects (재건축과 리모델링 사업의 환경성${\cdot}$경제성 통합평가모델)

  • Lee Ju-Heon;Park Chan-Sik
    • Proceedings of the Korean Institute Of Construction Engineering and Management
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    • autumn
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    • pp.327-330
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    • 2002
  • Recently, the environmental sustainability has showed up one of the important considerations in the construction industry. However, the effective evaluation method for the decision-making on either reconstruction or remodeling of a project has not been developed so far. This paper presents an integrated evaluation model considering both environment and economic factors of a building project for which the decision making on either remodeling or reconstruction is needed. In order to develop the model, the characteristics of both types of projects were investigated and analyzed through the related literature review, and then appropriate evaluation criteria and analysis methodology to be used in the model were developed.

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The Water Resource Management Framework in New Zealand: A Case Study of Moving towards a Less Adversarial Approach

  • Davie, Tim
    • Proceedings of the Korea Water Resources Association Conference
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    • 2010.05a
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    • pp.82-90
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    • 2010
  • New Zealand appears to be a water rich country; however there are considerable water allocation issues. Mostly these revolve around balancing environmental concerns with economic development. The largest economic sector is agriculture which currently utilizes around 80% of the allocated water and has considerable potential to increase in size. The resource management framework that New Zealand has developed over the past twenty years revolves around local decision-making and sustainable management principles. As the demands for water have grown there has been growing concern that this framework is inadequate to deal with the issues of declining water quantity and quality through agricultural intensification. In Canterbury, the region with the highest water allocation and demand, a new approach is being trialed. The Canterbury Water Management Strategy (CWMS) recognizes the need for: ecological restoration for past damage; infrastructure development for increased irrigation; and the need to link infrastructure with more efficient use of water by both existing and new water users. These three elements are recognized as having equal value. The CWMS builds on the local decision-making concept but is deliberately aimed at consensus building in order to remove expensive and adversarial resource management hearings. It is practical enough to recognize that economic development is needed but that it need not proceed in conflict with the environment, but rather can be a means towards environmental improvement.

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Developing a comprehensive model of the optimal exploitation of dam reservoir by combining a fuzzy-logic based decision-making approach and the young's bilateral bargaining model

  • M.J. Shirangi;H. Babazadeh;E. Shirangi;A. Saremi
    • Membrane and Water Treatment
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    • v.14 no.2
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    • pp.65-76
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    • 2023
  • Given the limited water resources and the presence of multiple decision makers with different and usually conflicting objectives in the exploitation of water resources systems, especially dam's reservoirs; therefore, the decision to determine the optimal allocation of reservoir water among decision-makers and stakeholders is a difficult task. In this study, by combining a fuzzy VIKOR technique or fuzzy multi-criteria decision making (FMCDM) and the Young's bilateral bargaining model, a new method was developed to determine the optimal quantitative and qualitative water allocation of dam's reservoir water with the aim of increasing the utility of decision makers and stakeholders and reducing the conflicts among them. In this study, by identifying the stakeholders involved in the exploitation of the dam reservoir and determining their utility, the optimal points on trade-off curve with quantitative and qualitative objectives presented by Mojarabi et al. (2019) were ranked based on the quantitative and qualitative criteria, and economic, social and environmental factors using the fuzzy VIKOR technique. In the proposed method, the weights of the criteria were determined by each decision maker using the entropy method. The results of a fuzzy decision-making method demonstrated that the Young's bilateral bargaining model was developed to determine the point agreed between the decisions makers on the trade-off curve. In the proposed method, (a) the opinions of decision makers and stakeholders were considered according to different criteria in the exploitation of the dam reservoir, (b) because the decision makers considered the different factors in addition to quantitative and qualitative criteria, they were willing to participate in bargaining and reconsider their ideals, (c) due to the use of a fuzzy-logic based decision-making approach and considering different criteria, the utility of all decision makers was close to each other and the scope of bargaining became smaller, leading to an increase in the possibility of reaching an agreement in a shorter time period using game theory and (d) all qualitative judgments without considering explicitness of the decision makers were applied to the model using the fuzzy logic. The results of using the proposed method for the optimal exploitation of Iran's 15-Khordad dam reservoir over a 30-year period (1968-1997) showed the possibility of the agreement on the water allocation of the monthly total dissolved solids (TDS)=1,490 mg/L considering the different factors based on the opinions of decision makers and reducing conflicts among them.

A Consideration of the Decision-Making Efficiency Concerning the Removal of Oil Spills by Foreign Ships in the EEZ (EEZ내 외국 침몰선박 잔존유 제거 의사결정 효율화 방안 고찰)

  • Na, Song-Jin
    • Journal of the Korean Society of Marine Environment & Safety
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    • v.25 no.6
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    • pp.698-707
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    • 2019
  • The removal of oil spilled by the sinking of a foreign ship in Korea's Exclusive Economic Zone (EEZ) began in May 2019 four years after the ship sunk near Jeju Island. The cleanup was conducted by a foreign company that was contracted to the ship-owner's protection & indemnity (P&I) insurance company. In contrast to the time taken to begin the cleanup, the operation itself was completed in just 22days. Compared to similar cases, the decision to begin the removal was a delayed one. This study analyzes all 93 documents related to the ship's sinking and the eventual cleanup, confirming delays in administrative decision-making on the removal, and identifies factors that influenced this delay. These factors include a neglect of accident-related data verification, and other, legal, technical, environmental, and human aspects. Finally, this study suggests ways to improve decision-making efficiency. As the first study dealing with the cleanup in the EEZ, this research is expected to facilitate decision-making and influence the formulation of policies in the future.

A Study on the Rationality of Wives' Decision Making in Purchasing - comparisons, Between Working and nonworking Wives- (도시주부의 購買의사결정 합리성에 관한 연구 -취업주부와 비취업주부의 비교분석-)

  • Shim, Sook;Kim, Kee-Ok
    • Journal of Families and Better Life
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    • v.5 no.2
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    • pp.109-125
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    • 1987
  • Previous studies show that working wives in the market contribute to the family economy that affects the family member's behaviors as consumers. Accordingly, the consumer behavior among working wives would be differ form that among nonworking wives. As the number of working wives in the market is increasing, this study focuses on the estimation of the degree of rationality in purchasing decision making among wives in relation to their working status. Therefore, this study attempts to construct an rationality index of a purchasing decision making both at a high and a low involvement situation by working and nonworking wives, and analyzes the differences in the results of the two groups. This study also examines how the rationality indices vary with the selected socioeconomic variables. The data are obtained from self-administered questionnaires from a sample of 217 working and 191 nonworking wives at Seoul and Seongnam in 1986. The statistical methods used in this study are Factor Analysis, Multiple Regression, and Analysis of Variances. The major findings of this study are as follows; 1) The mean value of the rationality index among nonworking wives is higher than that among working wives. Under a high involvement situation, the mean value of the rationality index among working wives is negative. Therefore, it is likely that nonworking wives make purchasing decisions more rationally than working wives. 2) The higher the degree of wive's education, the more rational the purchasing decision making. Under a low involvement situation, the higher the monthly family income, the more rational the purchasing decision making . under the same situation, the shorter the duration of marriage , the more rational the purchasing decision making. 3) Under a low involvement situation, the rationality indices of working wives vary with their occupations. The rationality indices among those in selling and service jobs are lower than those among those in professional jobs. 4) The impact of the selected socio-economic variables on the degree of the rationality in purchasing decision making differs depending on whether the wife is working or not. Under a low involvement situation, the positive impact of the monthly family income on the rationality in purchasing decision making is stronger among nonworking wives than among working wives. Under the same situation, the negative impact of the duration of marriage on the rationality is stronger among nonworking wives than among working wives.

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A Study on the policy decision-making for the pilot project of herbal decoctions coverage in the National Health Insurance in 2012 (2012년 첩약 건강보험 급여화 시범사업 정책 결정에 관한 연구)

  • Hong, Minjung;Lim, Byungmook
    • Journal of Society of Preventive Korean Medicine
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    • v.24 no.2
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    • pp.83-94
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    • 2020
  • Backgrounds : To reduce the patients' economic burden of herbal decoctions use, in 2012, Korean government decided to implement the pilot project of herbal decoctions coverage in the National Health Insurance. Objectives : This study aimed to analyze the policy decision-making process for the pilot insurance project in 2012. Methods : Official documents, research papers, statistical reports, and news articles, etc. on the coverage of herbal decoctions were searched and collected. We used the Kingdon's Policy Stream Model to analyze how the policy of pilot project of herbal decoctions coverage was decided, and who were the main activists for the decision-making process. Results : Components to be included in the 'Problem stream' were the decline in the profits of Korean Medicine institutions, the contraction of the herbal decoctions use, and the fiscal surplus of National Health Insurance. In the 'Policy stream', there were several model studies for herbal decoctions coverage, and examples of herbal benefits in other social insurances. In the 'Political stream', there were the legislative initiatives by member of the National Assembly and the promotion of insurance coverage by the Association of Korean Medicine(AKOM), etc. Policy window for herbal decoctions coverage was opened by the combination of these three streams with the efforts of policy activists, such as the executives of AKOM, and policy researchers. Conclusions : The policy decision process for health insurance coverage of herbal decoctions was analyzed using Kingdon's model, and the analysis shows that the combination of political streams and entrepreneurs' competencies can be an important driving force in policy decision making.

An Analysis of Rank Correlation between the Apartment Purchase Price Decision Factor and Amenity decision Factor with cognition of the Consumer. (소비자가 인식하는 아파트 구매가격결정요인과 쾌적성 결정요인과의 순위적 관계분석)

  • 김형돈
    • Journal of the Korean housing association
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    • v.12 no.2
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    • pp.45-54
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    • 2001
  • The purpose of this research was to analyze the correlation between the Apartment Purchase Price Decision Factor and Amenity decision Factor with cognition of the Consumer. The result are as follows; 1. The correlation coefficient between the Apartment Price Decision Factor and Amenity decision Factor with cognition of the Consumer was 0.587. 2. The ranking of the purchase price factor which it prefers were analyzed orientation > sunlight > view > the rising price expectation > natural environment etc. And the ranking of the amenity were analyzed orientation > natural environment > view > sunlight > noise etc. 3. Consumer group was classified the location, sex, year of ages and unit scale. The rank correlation coefficient of (the significant was below 0.05) sex was 0.617~0.644, year of ages was 0.62~0.771 and unit scale was 0.762~0.852. This research proved the fact that the amenity correlated with the apartment purchase price decision factor, so amenity contained an economic value. And this result will be used in decision-making-process of apartment construction.

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The Primary Process and Key Concepts of Economic Evaluation in Healthcare

  • Kim, Younhee;Kim, Yunjung;Lee, Hyeon-Jeong;Lee, Seulki;Park, Sun-Young;Oh, Sung-Hee;Jang, Suhyun;Lee, Taejin;Ahn, Jeonghoon;Shin, Sangjin
    • Journal of Preventive Medicine and Public Health
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    • v.55 no.5
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    • pp.415-423
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    • 2022
  • Economic evaluations in the healthcare are used to assess economic efficiency of pharmaceuticals and medical interventions such as diagnoses and medical procedures. This study introduces the main concepts of economic evaluation across its key steps: planning, outcome and cost calculation, modeling, cost-effectiveness results, uncertainty analysis, and decision-making. When planning an economic evaluation, we determine the study population, intervention, comparators, perspectives, time horizon, discount rates, and type of economic evaluation. In healthcare economic evaluations, outcomes include changes in mortality, the survival rate, life years, and quality-adjusted life years, while costs include medical, non-medical, and productivity costs. Model-based economic evaluations, including decision tree and Markov models, are mainly used to calculate the total costs and total effects. In cost-effectiveness or costutility analyses, cost-effectiveness is evaluated using the incremental cost-effectiveness ratio, which is the additional cost per one additional unit of effectiveness gained by an intervention compared with a comparator. All outcomes have uncertainties owing to limited evidence, diverse methodologies, and unexplained variation. Thus, researchers should review these uncertainties and confirm their robustness. We hope to contribute to the establishment and dissemination of economic evaluation methodologies that reflect Korean clinical and research environment and ultimately improve the rationality of healthcare policies.

Decision-Makings of CoPS Innovation Strategy, Power and Dominant Design - the Case of SKT and KTF

  • Kim, Jong-Seok;Miles, Ian;Flanagan, Kieron
    • Proceedings of the Korea Technology Innovation Society Conference
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    • 2017.05a
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    • pp.219-219
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    • 2017
  • This study aims at examining each firm's decision-makings of complex product and system (hereafter CoPS) innovation strategy, so that it tries to reveal the nature and role of CoPS innovations strategy. And it designed a comparative case study along with qualitative methods, by having two mobile operators' digital rights management (hereafter DRM) innovation in South Korea's digital music service industry. Through literature review, this study formulated three research propositions: (i) Each firm's decision-makings of CoPS innovations strategy are analytical negotiation process among economic actors in an industry; (ii) Each firm's market power originated from its market share from the installed base through network effect and switching cost influence decision-makings of CoPS innovation strategies; (iii) Each firm's decision-makings of different CoPS innovation strategies are related to their intension of achieving better market power, consequently dominant design. Through empirical examination of two mobile operators' decision-makings of DRM innovation strategy, this study empirically verified three research propositions.

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A Study on the Type of Automatic Yard Operation for a Container Terminal

  • Choi, Hyung-Rim;Park, Nam-Kyu;Yoo, Dong-Ho;Kwon, Hae-Kyoung
    • Journal of Korea Port Economic Association
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    • v.22 no.2
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    • pp.61-82
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    • 2006
  • In order to cope with improvement of labor cost and cargo volume, Korean ports, especially Busan port, are in need of many new facilities. Of course, current facilities should be fully used, and at the same time it needs to make every effort to maximize its productivity as well as cost saving. To this end, this study has decided to focus on automatic yard operation suitable to the domestic container terminal environments, making a survey of many advanced container terminals, trying to find out their common factors, and finally suggesting several alternatives based on the combination of these factors. Also, this study has suggested the present value of initial investment and operating cost by alternative, and at the same time presented the relationship between cargo handling volume and cost/revenue of the optimal alternative, so that it may be of help in decision making.

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