• Journal of Korean Society of Forest Science
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• v.98 no.3
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• pp.297-304
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• 2009

Bukhansan National Park is facing dramatic increase of visitors since no entrance fee charge effected in January of 2007. This study was carried out to estimate socio-psychological carrying capacity of Bukhansan National Park based on marginal utility theory model, provide management tactics by stages. 512 visitors to Bukhansan National Park were surveyed during the October of 2008. The data analysis indicated that sociopsychological carrying capacity was estimated as approximately 65,000 people per day for Bukhansan National Park.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.35
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• pp.41-69
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• 2007

This study analyzes some important implications for the forthcoming revision of eUCP through the methodology of expected utility maximization theory. The overall results are as follows. First, beneficiary with an initial wealth has a risk-averse utility in traditional letter of credit transaction, and he would be more risk-averse in eUCP transaction. Secondly, the beneficiary who has risk-averse utility will pay for the risk premium to reduce the risk of corruption of an electronic record by means of cost of loss reduction activities. Thirdly, the cost of loss reduction activities is represented by a convex cost function, Fourthly, a risk averse beneficiary pursues loss reducing activities to the point where the expected marginal product of loss reduction is less than its marginal cost. Fifthly, a more risk-averse eUCP beneficiary will always select a higher level of loss reduction as long as the effectiveness of loss reduction is certain. Sixthly, when the effectiveness of loss reduction is uncertain, the more risk-averse eUCP beneficiary does not necessarily choose a higher level of loss reducing activities. Finally, it would be more reasonable that eUCP Article 11 should protect eUCP beneficiary who pursues a higher level of loss reducing activities.

• Journal of Electrical Engineering and Technology
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• v.9 no.3
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• pp.803-811
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• 2014

The moment when Electrical Vehicle (EV) starts charging or discharging is one of the most important parameters in estimating the impact of EV load on the grid. In this paper, a decision-making problem of determining the start time of charging and discharging during allowed period is proposed and studied under the uncertainty of real-time price. Prospect theory is utilized in the decision-making problem of this paper for it describes a kind of decision making behaviors under uncertainty. The case study uses the parameters of Springo SGM7001EV and adopts the historical realtime locational marginal pricing (LMP) data of PJM market for scenario reduction. Prospect values are calculated for every possible start time in the allowed charging or discharging period. By comparing the calculated prospect values, the optimal decisions are obtained accordingly and the results are compared with those based on Expected Utility Theory. Results show that with different initial State-of-Charge ($SoC_0$) and different reference points, the optimal start time of charging can be the one between 12 a.m. to 3 a.m. and optimal discharging starts at 2 p.m. or 3p.m. Moreover, the decision results of Prospect Theory may differ from that of the Expected Utility Theory with the reference points changing.

• Journal of Korea Planning Association
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• v.54 no.3
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• pp.15-26
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• 2019

The development of science and transportation technology leads to the increase of inter - city networks that play an important role in urban growth. Overall, numerous studies based on network theory pay attention to positive effects of urban network on urban growth. However, some studies have pointed out the negative effects of inter-city interactions such as straw effects. This implies that the network between cities may not be positively correlated with urban growth, and that the direction of the influence may vary from a certain threshold, such as the marginal utility curve. In this context, the purpose of this study is to measure the impacts of network with central city on urban growth in the capital region and examine the relationship between urban network and growth. Two multiple regression models are employed with changes in population and employment as dependent variables. The urban network index and other control variables are used as independent variables. Especially, the urban network indexes are used in quadratic forms to examine non linear relations with urban growth such U-shape or an inverted U-shape. The results show that the relationships between networks with the central city and urban growth are not a simple linear, and the influence can be changed from the critical point.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.41 no.4
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• pp.220-227
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• 2018

The cooperative game theory consists of a set of players and utility function that has positive values for a subset of players, called coalition, in the game. The purpose of cost allocation method is to allocate the relevant cost among game players in a fair and rational way. Therefore, cost allocation method based on cooperative game theory has been applied in many areas for fair and reasonable cost allocation. On the other hand, the desirable characteristics of the cost allocation method are Pareto optimality, rationality, and marginality. Pareto optimality means that costs are entirely paid by participating players. Rationality means that by joining the grand coalition, players do not pay more than they would if they chose to be part of any smaller coalition of players. Marginality means that players are charged at least enough to cover their marginal costs. If these characteristics are all met, the solution of cost allocation method exists in the core. In this study, proportional method is applied to EOQ inventory game and EPQ inventory game with shortage. Proportional method is a method that allocates costs proportionally to a certain allocator. This method has been applied to a variety of problems because of its convenience and simple calculations. However, depending on what the allocator is used for, the proportional method has a weakness that its solution may not exist in the core. Three allocators such as demand, marginal cost, and cost are considered. We prove that the solution of the proportional method to demand and the proportional method to marginal cost for EOQ game and EPQ game with shortage is in the core. The counterexample also shows that the solution of the proportional method to cost does not exist in the core.

• Journal of the Korean Applied Science and Technology
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• v.40 no.5
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• pp.1001-1009
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• 2023

Flow is a concept closely related to intrinsic motivation and is considered a positive factor in sports performance in sports psychology. The purpose of this study was to confirm the addictive nature of Flow through previous studies and propose a new hypothesis that Flow may decrease intrinsic motivation in the long term, unlike previous studies. In line with adaptation level theory and the law of diminishing marginal utility, the satisfaction derived from Flow is continuously decreasing. At some point, the individual's progress is limited and they reach a point where they no longer experience FLOW. However, the individual will continue to try because the desire to experience FLOW again exists. However, failure to experience FLOW and repeated failure will lead to sadness, which will decrease intrinsic motivation.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.14 no.3
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• pp.1204-1227
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• 2020

The tradeoff between energy conservation and traffic balancing is a dilemma problem in Wireless Sensor Networks (WSNs). By analyzing the intrinsic relationship between cluster properties and long distance transmission energy consumption, we characterize three node sets of the cluster as a theoretical foundation to enhance high performance of WSNs, and propose optimal solutions by introducing rendezvous and Mobile Elements (MEs) to optimize energy consumption for prolonging the lifetime of WSNs. First, we exploit an approximate method based on the transmission distance from the different node to an ME to select suboptimal Rendezvous Point (RP) on the trajectory for ME to collect data. Then, we define data transmission routing sequence and model rendezvous planning for the cluster. In order to achieve optimization of energy consumption, we specifically apply the economic theory called Diminishing Marginal Utility Rule (DMUR) and create the utility function with regard to energy to develop an adaptive energy consumption optimization framework to achieve energy efficiency for data collection. At last, Rendezvous Transmission Algorithm (RTA) is proposed to better tradeoff between energy conservation and traffic balancing. Furthermore, via collaborations among multiple MEs, we design Two-Orbit Back-Propagation Algorithm (TOBPA) which concurrently handles load imbalance phenomenon to improve the efficiency of data collection. The simulation results show that our solutions can improve energy efficiency of the whole network and reduce the energy consumption of sensor nodes, which in turn prolong the lifetime of WSNs.

• Journal of Korean Society of Transportation
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• v.27 no.2
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• pp.157-168
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• 2009

The random utility theory and the multinomial logit model (including a more recent variant--the mixed multinomial logit) derived from it have constituted a back bone for theoretical and empirical analyses of various travel demand features including mode choice. In their empirical applications, however, it is customary to specify random utilities which are linear in modal attributes such as time and cost, and in socio-economic variables. The linearity helps easy derivation of important information such as value of travel time savings by calculating marginal rate of substitution between time and cost. In this paper the author focuses on the very linearity of the random utilities. Taking into account the fact that the mode chooser is also labour supplier, commodity consumer as well as leisure-seeker, the author sets up a maximization model of the traveller, which encompasses various economic activities of the traveller. The author derive from the model the indifference curve defined on the space of modal attributes, time and cost and investigate under what conditions the random utility of the traveller becomes linear. It turns out that there exist the conditions under which the random utility is really linear in modal attributes, but the property does not hold when the traveller has a corner solution on the space of modal attributes, or when the primary utility function of the traveller is directly affected by labour provided and/or the travel time itself. As a corollary of the analysis, a random utility is suggested, approximated up to the second order of the variables involved for empirical studies of the field.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.57
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• pp.111-135
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• 2013

This study analyzes some important spin-off effects of the provision, UCP600 Article 14(6), through the methodology of the expected utility maximization theory based on the state-contingent commodities model. Some technical implications of this study are as follows. First, the risk-averse beneficiary will choose to present his documents more than 5 days before expiry date by paying a higher risk premium (so-called cure period) for full assurance to cure documentary discrepancies, if expressed economically, he pursues loss reducing activities to the point where the expected marginal product of his activities is less than its marginal cost. Secondly, where the effectiveness of securing cure period is uncertain, the risk-averse beneficiary will choose to present documents just on the expiry date without securing any cure period by paying no risk premium. This study finally suggests the safe harbor standard should be optimal solution only if it is supplemented by the hidden reasonableness standard for balancing the conflicts of interest between beneficiaries and banks.

• Korean Management Science Review
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• v.32 no.1
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• pp.83-100
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• 2015

We analyze a duopoly competition when two firms face input cost increases. The objective of this study is to determine the firms' optimal strategy between a price increase and downsizing under conditions of a spatially differentiated market and consumers' diminishing utility on the product size. We develop a theoretical model of two competing firms offering homogenous products using the standard Hotelling model to determine how firms' optimal strategies change when facing input cost increases. In this paper, there are two types of duopoly competitions: symmetric and asymmetric. In the symmetric case, the two firms have the same marginal cost and are producing and selling identical products. In the asymmetric case, the two firms have different marginal costs. The results show that the optimal strategy decision depends on the size of the input cost increase and the cost differences between the two firms. We find that when two firms are asymmetric (i.e., they have different marginal costs), the two firms might choose asymmetric pairs of strategies in equilibrium under certain conditions. When the cost differences between the two firms are sufficiently large and the cost increase is sufficiently small, the cost leader chooses price increase, and the cost-disadvantaged firm chooses downsizing in equilibrium. This asymmetric strategy reduces price competition between two firms, and consumers are better off. When the cost differences between the two firms are sufficiently large, downsizing is the dominant strategy for the cost-disadvantaged firm. The cost-disadvantaged firm finds it more profitable to reduce the product size than to increase its price to reduce price competition, because consumers prefer downsizing to price increases. This paper might be a good starting point for further analytical research in this area.