• Title/Summary/Keyword: economic loss function

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Economic Generation Allocation with Power Equation Constraints (모선 전력방정식을 제약조건으로 하는 경제적 발전력 연산방법)

  • Eom, Jae-Seon;Kim, Geon-Jung;Lee, Sang-Jung;Choe, Jang-Heum
    • The Transactions of the Korean Institute of Electrical Engineers A
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    • v.51 no.8
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    • pp.398-402
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    • 2002
  • The ELD computation has been based upon the so-called B-coefficient which uses a quadratic approximation of system loss as a function of generation output. Direct derivation of system loss sensitivity based on the Jacobian-based method was developed in early 1970s', which could eliminate the dependence upon the approximate loss formula. However, both the B-coefficient and the Jacobian-based method require a complicated Procedure for calculating the system loss sensitivity included in the constraints of the optimization problem. In this paper, an ELD formulation in which only the bus power equations are defined as the constraints has been introduced. Derivation of the partial derivatives of the system loss with respect to the generator output and calculation of the penalty factors for individual generators are not required anymore in proposed method. A comprehensive solution procedure including calculation of the Jacobians and Hessians of the formulation has been presented in detail. Proposed ELD formulation has been tested on a sample system and the simulation indicated a satisfactory result.

Analysis of Agricultural Regional Economic Effect by Spatial Dispersal of Wildfire in Korea (산불의 공간적 확산이 농촌지역경제에 미치는 영향 분석)

  • Kwon, J. Younghyun;Kim, Euijune
    • Journal of Korean Society of Rural Planning
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    • v.20 no.3
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    • pp.67-74
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    • 2014
  • The purpose of this study is to estimate regional economic effects of spatial diffusion of wildfire using Cobb-Douglas production function of agriculture and forestry. The analysis is applied to Gangwon and Gyeongbuk provinces where are the most damaged of wildfire in Korea. The damaged areas are derived from multiplied by the occurrence probability of wildfire and diffusion areas of wildfire for micro-spatial unit level with ArcGIS techniques. The models of wildfire provides that the spatial diffusion of wildfire increases with the rising of highest temperature and average wind speed. Through the production function, value added of Agriculture and Forest sectors get damaged where the Cos-converted slope aspect of mountains are toward the South. The production model provides reductions of regional value added by increasing damaged areas of wildfire. It reveals that the most damaged region is Andong city in Gyeongbuk province, where value added loss is 1.25 billion Won, which is about 0.72% of total value added in agriculture and forestry of the city. As a view of policy makers, it needs to be considered to establish prevention policies against wildfires because regional economic losses from wildfire are depending on geographical conditions and performances of the major industry related to wildfire's diffusion such as agriculture or tourism sector according to the result of analysis.

측정불확도를 응용한 오염토양부지 조사의 최적화 방안

  • 이종천
    • Proceedings of the KSEEG Conference
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    • 2003.04a
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    • pp.39-42
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    • 2003
  • 중금속으로 오염된 폐광산 주변부나 유류누출로 인한 토양오염 등과 같은 오염부지에 대한 환경조사는 그 결과를 토대로 환경계획이나 정책이 수립되므로 의사결정의 기초가 된다. 이때, 의사결정의 타당성은 오염부지 조사결과 오염도가 얼마나 정확하게 측정되었느냐에 따라 달리 평가되어 진다. 그러므로 이와 같은 환경조사는 측정결과의 불확실성이 감소되도록 정밀한 시료채취방법이나 분석방법을 고안하여 적용해야 한다. (중략)

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-Reliability Assessment of Nuclear Power Plants Considering the Qualitative Factors under Uncertainty- (원자력발전소에서 정성적 요인을 고려한 신뢰성 평가)

  • 강영식
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.23 no.54
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    • pp.167-177
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    • 2000
  • The problem of system reliability is very important issue in the nuclear power plant, because the failure of its system brings about extravagant economic loss, environment destruction, and quality loss. This paper therefore proposes a normalized scoring model by the qualitative factors order to evaluate the robust reliability of nuclear power plants under uncertainty. Especially, the qualitative factors including risk, functional, human error, and quality function factors for the robust justification has been also introduced. Finally, the analytical reliability and safety assessment model developed in this paper can be used in the real nuclear power plant.

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Economic Constant Stress Plans for Accelerated Life Testing (가속수명시험을 위한 경제적 일정스트레스 계획의 개발)

  • Seo, Sun-Keun;Kim, Kap-Seok
    • Journal of Korean Institute of Industrial Engineers
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    • v.25 no.4
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    • pp.517-526
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    • 1999
  • This paper deals with two economic optimal designs of constant-stress accelerated life test(ALT) where failure distribution follows one of location-scale family, i. e., exponential, Weibull, and lognormal distributions which have been ones of the popular choices of failure distributions. Two optimization criteria to develop ALT plans are the statistical efficiency per unit expected cost which consists of the fixed test cost, cost being proportional to the number of test units, and variable test cost depending on test period and stress level, and the expected loss which combines Taguchi's quadratic loss function and expected test cost. Optimum plan determines the low stress level, test units allocated to each stress, and censoring times at two stress levels under Type I censoring. The proposed ALT plans are illustrated with a numerical example and sensitivity analyses are conducted to study effects of pre-estimates of design parameters.

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A Study on the Farming Decision-making Process of Onion and Garlic Farmers by the Perspective of Behavioral Economics (양파와 마늘 농가의 행동경제학적 영농 의사결정 과정에 관한 연구)

  • Lee, Su-Mi;Kim, Ho
    • Korean Journal of Organic Agriculture
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    • v.32 no.1
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    • pp.25-37
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    • 2024
  • This study is to apply behavioral economics-an economics that studies actual human behavior based on cognitive psychology-to the farming decision-making process of onion and garlic farmers. Of behavioral economic theories, dual system theory and prospect theory (value function), heuristic and bias were surveyed and examined in the field. The reference point of farmers was farming experience of the previous year, and so they showed reference dependence and anchoring heuristic, not rational thinking on production cost plan. And they showed status quo bias that cultivated continuously the previous year or the present crop. This status quo bias is related to loss aversion propensity. Farmers did not usually change cultivating crops, in other words, they showed diminishing sensitivity-insensitive to those that the more revenue or loss was increased. This diminishing sensitivity is related to loss aversion propensity and status quo bias. Also, farmers had representativeness heuristic because they regarded auction price of Garakdong wholesale market as the standard price level despite various prices by production region. And farmers had the affect heuristic that they depended on producers' organization data more than the state-run research institute ones about cultivation intentions and actual situations.

Fragility curves and loss functions for RC structural components with smooth rebars

  • Cardone, Donatello
    • Earthquakes and Structures
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    • v.10 no.5
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    • pp.1181-1212
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    • 2016
  • Fragility and loss functions are developed to predict damage and economic losses due to earthquake loading in Reinforced Concrete (RC) structural components with smooth rebars. The attention is focused on external/internal beam-column joints and ductile/brittle weak columns, designed for gravity loads only, using low-strength concrete and plain steel reinforcing bars. First, a number of damage states are proposed and linked deterministically with commonly employed methods of repair and related activities. Results from previous experimental studies are used to develop empirical relationships between damage states and engineering demand parameters, such as interstory and column drift ratios. Probability distributions are fit to the empirical data and the associated statistical parameters are evaluated using statistical methods. Repair costs for damaged RC components are then estimated based on detailed quantity survey of a number of pre-70 RC buildings, using Italian costing manuals. Finally, loss functions are derived to predict the level of monetary losses to individual RC components as a function of the experienced response demand.

Method of Optimum Efficiency to Coefficient of Utilization for Single Phase Induction Motor (단상 유도전동기의 이용률 변동에 대한 최적효율 산정기법)

  • Kim, Yang-Ho;Kim, Young-Sun
    • The Transactions of the Korean Institute of Electrical Engineers P
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    • v.55 no.4
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    • pp.155-160
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    • 2006
  • In this paper, deduced suitable optimization to request output condition after taking closely characteristic data of single phase induction motor(SIM) which is the possibility becoming economic is coming to be demanded. Motor proper move connection data took advantage of result of existing data and iron loss and copper loss, mechanical loss took advantage of statistical data, and decide motor move laking advantage of saving data and secondary resistance and optimum purpose of method that is proposed through single phase induction motor and comparison performance evaluation having on the same output parameter. That decide material factor, electric power damage ratio, and coefficient of utilization for optimum function by method that search request output and optimum values of efficiency case by case and decided is proper that is saved after take magnetizing reactance relationship. This research result which it sees against a material expense with use coefficient of utilization which is included in loss expense decides the same plan variable back the place efficiency is useful and will be applied.

Optimum Mean Value and Lower Limit under a Quadratic Loss Function (이차손실함수 하에서 최적 공정평균 및 규격하한)

  • Hong, Sung-Hoon;Choi, Sung-Il;Lim, Hoon;Pan, Jae-Suk
    • Journal of Korean Society for Quality Management
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    • v.28 no.4
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    • pp.194-203
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    • 2000
  • This paper is concerned with an economic selection of both the process mean and the lower limit for a continuous production process with the quadratic loss function. It is assumed that the quality characteristic is normally distributed with a known variability. A profit model is developed which involves selling price, production cost, reprocessing cost and the cost which is incurred by imperfect quality. Methods of finding optimum values of the process mean and the lower limit are presented, and a numerical example is given.

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Determination of Optimum Process Mean and Screening Limits under a Taguchi's Loss Function (다구찌 손실함수 하에서 최적 공정평균 및 스크리닝 한계선의 결정)

  • Hong, Sung-Hoon
    • Journal of Korean Society for Quality Management
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    • v.28 no.2
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    • pp.161-175
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    • 2000
  • The problem of jointly determining the optimum process mem and screening limits for each market is considered in situations where there are several markets with different price/cost structures. Two inspection procedures are considered; an inspection based on the quality characteristic of interest, and an inspection based on a surrogate variable which is highly correlated with the quality characteristic. The quality characteristic is assumed to be a normal distribution with unknown mean and known variance. A Taguchi's quadratic loss function is utilized for developing the economic model for determining the optimum process mean and screening limits. A numerical example is given.

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