• Health Policy and Management
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• v.9 no.3
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• pp.70-94
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• 1999

This paper was performed for a cost-effectiveness analysis of pharmacologic treatment of hypercholesterolemia. Agents modeled were cholestyramine, gemfibrozil. bezafibrate, lovastatin, pravastatin, simvastatin. Pharmacologic effectiveness was estimated by regression from reported clinical trials. Pharmacologic effects were expressed as the percent change of blood cholesterol level. Cost estimates included patients' travel expenses and time loss as well as resource consumption in the health care sector. Bezafibrate was the most efficient agent for reducing total cholesterol levels, having an cost over 1 year of ￦31.400 per percent reduction in total cholesterol. Simvastatin (10mg/d) was also efficient(￦33,100 per percent reduction). Chole styramine(8g/d) was least efficient at ￦90,200. For low-density lipoprotein cholesterol. simvastatin(10mg/d) was most efficient, at ￦23,200 per percent reduction, followed by lovastatin(20mg/d) at ￦28,000. Gemfibrozil was least efficient at ￦77,800 per percent reduction. For high-density lipoprotein cholesterol. bezafibrate(400mg/d) was most efficient at ￦39,300 per percent increase of high-density lipoprotein cholesterol. Cholestyramine was least efficient at ￦514,700. Analyses combining low-density lipoprotein cholesterol and high-density cholesterol effects suggest that bezafibrate(600mg/d) and simvastatin (10mg/d) were most efficient for reducing cardiovascular risk. The cost-effectiveness analysis results show that both simvastatin and bezafibrate could be efficient treatment. Simvastatin provide more effective treatment at higher cost, whereas bezafibrate is more cost-effective, as it may be less effective, at lower cost. Therefore, clinicians should choose reasonable treatment according to the patient's needs This pharmacoeconimc analysis will provide a guideline for efficient pharmacologic treatment and also be reference data for pricing new drugs.

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.54 no.8
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• pp.396-400
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• 2005

This paper proposes the cost analysis on the energy efficient equipment when this equipment is participated in the demand-side bidding. Conventional demand-side bidding is exercised through load re-distribution. However if this load reduction is exercised by the use of high efficient equipment, its effect will be assumed to be more economical. This paper analyses this cost-benefit effect of high efficient equipment in the demand-side bidding.

• Proceedings of the KIEE Conference
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• 2003.07a
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• pp.65-67
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• 2003

This paper proposes the cost analysis on the energy efficient equipment when this equipment is participated in the demand-side bidding. Conventional demand-side bidding is exercised through load re-distribution. However if this load reduction is exercised by the use of high efficient equipment, its effect will be assumed to be more economical. This paper analyses this cost-benefit effect of high efficient equipment in the demand-side bidding.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.18 no.33
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• pp.161-171
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• 1995

When physical distribution cost can be correctly measured, its management can also be efficient. Thus the primary objective of the study is to develop systems for measuring correctly physical distribution cost. The systems have two aspects : the One is the consumption of the resourses(materials, labor service, the other services), the other is the creation of physical distribution services(transportation, storage, cargo, packing, distribution conversion, management). By measuring the cost through the systems, the commoditization of the physical distribution services is possible and measurement of the cost and revenue can also be reasonable ,which makes its management efficient.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2007.11a
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• pp.482-487
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• 2007

As the importance of logistics is increasing, Enterprises design the supply chain(SC) network to minimize the total costs considering inventory holding cost, transportation cost and apply the efficient strategies of supply chain based on SC network Calculating the logistics costs without reflecting the logistics components like the packaging cost, transportation related cost, storage cost, loading & unloading cost, and distribution costs, the companies should have many limitation to calculate the logistics cost of real enterprise and install the SC network reducing them. Therefore, this research is aimed at establishing SC strategies which can be an efficient alternative for a decision making on supply chain, based on existing reference and current logistics networks of 'L' company in Korea and analyzing interaction effects between strategies and influence on logistics cost by these strategies. As the method of analysis, we analyze the interaction effects between strategies as well as install the optimal SC network reflecting concrete logistics components from the viewpoint of total logistics costs. we expect that analysis method of this paper would be applied various industries and used the efficient tools for the decision mating by planing and execution of the logistics budget from enterprises.

• Korean Management Science Review
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• v.25 no.2
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• pp.89-109
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• 2008

As the importance of logistics is increasing, Enterprises try to design the supply chain(SC) network to minimize the total costs considering inventory holding cost, transportation cost and apply the efficient strategies of supply chain based on SC network. Despite of this efforts, Calculating the logistics costs without reflecting the real components of logistics like the packaging cost, transportation related cost, storage cost, loading & unloading cost, and distribution costs, the companies has many limitation to calculate the logistics cost of real enterprise. For overcoming such problem, this paper is aimed at establishing SC strategies which can be an efficient alternative for a decision making on supply chain, based on existing reference and current logistics networks of 'L' company in Korea. Also, we analyze the interaction effects between strategies as well as install the optimal SC network reflecting concrete logistics components from the viewpoint of total logistics costs using the simulation and statistic methods. we expect that analysis results of this paper would be applied various industries and be utilized to the efficient tools for the decision making by planing and execution of the logistics budget from enterprises.

• International conference on construction engineering and project management
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• 2009.05a
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• pp.1201-1208
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• 2009

A making a decision of construction cost has important meaning and function for both contractor and owner in construction projects. Especially, it should be premised that estimating the construction cost in efficient and rational way in public construction, which is invested by government funds, for efficient execution of the budget and investment as a side of government. The systematic methodology for estimating construction cost approximately of a river facility construction project has not yet been established because of its unique characteristics including its relatively small project size in terms of cost. On this study, It collect and analyze a river facility construction historical cost data for develop an approximate cost estimating model for river applied by typical embankment section method and rate application of the others activity type. And it verify suitability of model through a that result of application of real river facility construction statement at developed model. By this study, it is expected to reasonable and systematic estimating construction cost through application of developed model.

• The Journal of Fisheries Business Administration
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• v.46 no.3
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• pp.129-141
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• 2015

Because land based aquaculture is restricted by high investment per rearing volume and control cost, good management planning is important in Land-based aquaculture system case. In this paper master production planning was made to decide the number of rearing, production schedule and efficient allocation of water resources considering biological and economic condition. The purpose of this article is to build the mathematical decision making model that finds the value of decision variable to maximize profit under the constraints. Stocking and harvesting decisions that are made by master production planning are affected by the price system, feed cost, labour cost, power cost and investment cost. To solve the proposed mathematical model, heuristic search algorithm is proposed. The model Input variables are (1) the fish price (2) the fish growth rate (3) critical standing corp (4) labour cost (5) power cost (6) feed coefficient (7) fixed cost. The model outputs are (1) number of rearing fish (2) sales price (3) efficient allocation of water pool.

• The Journal of Industrial Distribution & Business
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• v.13 no.1
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• pp.11-21
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• 2022

Purpose: This study predicted cost asymmetry as a determinant of investment efficiency, and empirically analyzed the relationship between cost stickiness and investment efficiency. Research design, data and methodology: Using a sample of 4,382 Korean firm-year observations over 2011-2017 period, I examined the relationship between cost stickiness and investment efficiency. Asymmetrical cost behavior is measured as model of Homburg and Nasev (2008) and model of Park, Koo, and Pae (2012). Investment efficiency is measured as Chen, Hope, Li, and Wang (2011)'s model. Results: Firms with cost stickiness are less efficient in their investment than firms with non-cost stickiness. In other words, cost stickiness is an empirical result that supports the previous research on cost decision-making from perspective of managers pursuing private benefits due to information asymmetry. Conclusions: By showing that the manager's decision-making on the cost behavior affects the investment efficiency corresponding to capital management, the implications for the mechanism for efficient capital management are provided. Through the empirical results, it was shown that the cost stickiness is a product of opportunistic cost decision-making due to information asymmetry, and it is to present evidence that expands the meaning of the causes of asymmetric cost behavior.

• Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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• v.26 no.12
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• pp.50-55
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• 2012

This paper presents an application of optimization method for efficient operation in micro grid. For operational efficiency, the objective function in a diesel generator consists of the fuel cost function similar to the cost functions used for the conventional fossil-fuel generating plants. The wind turbine generator is modeled by the characteristics of variable output. The cost function of fuel cell plant considers the efficiency of fuel cell. Particle swarm optimization(PSO) and sequential quadratic programming(SQP) are used for solving the problem of microgrid system operation. Also, from the results this paper presents the way to attend power markets which can buy and sell power from upper lever grids by connecting a various generation resources to micro grid.