• The Transactions of the Korean Institute of Electrical Engineers A
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• v.53 no.1
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• pp.67-72
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• 2004

This paper addresses the bidding strategies of generating firms in a competitive market where the firms are provided with payment for generating reactive power. Reactive support for voltage control is an integral and critical part of power system operations. Since reactive support is unbundled in a competitive market under open access transmission, it is treated as one of ancillary services. The operation costs and opportunity costs for reactive support are compensated by payment to the firms, hence their bidding strategies will be affected. The opportunity costs are evaluated from the foregone profits of a generator in making sales in real power market by providing reactive support instead of real power. Game theory approach is used to analysis the transaction strategies of real power by the bimatrix method in this paper. Through computing the Nash equilibrium in a sample system, an incentive of a generator for improving the reactive generating capacity is found to be effective and the variations of the profits are analyzed as the demand power factor changes.

• ETRI Journal
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• v.31 no.3
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• pp.304-314
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• 2009

Component-based software reuse has been generally regarded as a promising approach to improving software productivity and quality within software development. However, progress in component-based software reuse has been slower than expected. Much of the software reuse literature points to the lack of software components that can maximize users' benefits as the most important source of the slow progress. Considering that the underlying processes behind component-based software reuse are strikingly similar to commercial software marketing, this paper attempts to identify the aspects of software components that consumers value and to establish relationships between the identified aspects and consumer behavior in the software component market. More specifically, this paper focuses on the perceived subjective features of software components. This study was conducted in a web-based artificial market environment called "SofTrade."

• The Transactions of the Korean Institute of Electrical Engineers A
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• v.51 no.12
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• pp.638-646
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• 2002

This paper presents an efficient algorithm for evaluating the Profit and revenue of generating units in a competitive electricity market based on the probabilistic production costing technique. The accurate evaluation of the profit and revenue of generating units for long-term perspectives is one of the most important issues in a competitive electricity market environment. For efficient calculation of the profit and revenue of generating units under the equivalent load duration curve(ELDC), a new approach to figure out the marginal plants and the corresponding market clearing prices during a time period in a probabilistic manner is developed. The mathematical formulation and illustrative application of the suggested method is presented.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.29 no.3
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• pp.87-95
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• 2006

In this paper, an approach for analyzing brand loyalty and brand switching behavior in car insurance market is presented. A two-choice model by Blumen, et al. that uses Markov chain is adopted as a main technique for estimating brand parameters. Survey data have been collected through personal interviews with questionnaires. Following the application of the model to the data, it is found that there are five leading companies in car insurance market where the number of potential brand switchers is larger than that of brand loyal customers. Therefore, differentiation of this product along with the conversion of this low-involvement product to a high-involvement one could make car insurance stand out against a somewhat undifferentiated field of competitors.

• Journal of Families and Better Life
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• v.7 no.1
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• pp.43-57
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• 1989

In the materialistic societies, individuals get money return according to the importance of their roles. But unlike wage workers who are engaged in market production , housewives engaged in home production do not get that return. It is because the result of home production is not transacted in the market and the price is not given to it, so the value of home production is not estimated. Hence this study trcognizes again the value of home production, suggests the estimation methods of it in input and output based on home production systems and attempts to actualize those methods socially. This home production develops the human attributes of family members to act as a member of a society and potentially contributes to home income and Gross National Products, so it has social and economic value. In spite of that significance, the value of home production is not estimated, so its nor recognized and housewives engaged in home production are not acknowledged their ability. Hence based on home production systems form input to output, this study suggested opportunity cost method and market cost method in input, method by saving money expenditure, hybrid method and method by comparing with market in output.

• Asian Journal of Business Environment
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• v.5 no.1
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• pp.37-41
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• 2015

Purpose - The study was designed to explore and examine the business relationships of the owners and the employees of Market Basket to analyze the implications of their recent turbulence and decisions. This article focused on two issues - business profit and labor union - to describe the uniqueness of this case. Design, methodology, data, and approach - This article, based on its purpose, applied all three approaches of case studies that are identified and described by Stake (1995), instrumental, intrinsic, and collective, to present the core nature of the issue and to improve and gain a clear understanding of this particular phenomenon. Results - The analysis of this case clearly indicates that seemingly dichotomous concepts of profit and employee welfare are not necessarily antithetical to each other Conclusions - The instant case of Market Basket serves as a testimonial for the rejection of the basic premises of corporate profits and labor unions. This case serves as a model and a practical example for many large retailers, especially the family operated retailers, and workers throughout the world.

• Environmental and Resource Economics Review
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• v.11 no.4
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• pp.557-579
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• 2002

In recent days, it has been significantly suggested that the promotion of sustainable forest management will play an important role in ameliorating atmospheric carbon. In this respect, we intend to investigate the dynamic impact of the global timber market on carbon flux of forest through net carbon release into the atmosphere. For this purpose, we integrated the TSM 2000 with TCM to simulate the projection of net carbon release of the global timber market over 90 years, starting 1995. As a result, we identified that the global timber market increases the carbon dioxide concentration about l.9% over next 90 years; hence results in a positive effect on global warming. For sensitivity analysis, we performed these procedures under three different timber demand growth scenarios.

• International Journal of Computer Science & Network Security
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• v.21 no.11
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• pp.207-215
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• 2021

The aim of the article is to study the role of informal institutions in the development of the financial services market. The study outlines the concepts of scholars to identify the main types of informal institutions. The mechanism of research of influence of the informal factor on functioning of economic object is developed. The main types of informal institutions are systematized. The main informal institutions influencing the development of the financial services market are considered. The application of a synergetic approach to the consideration of the impact of the institution of trust on the financial services market is proposed.

• Proceedings of the Korean Institute of Intelligent Systems Conference
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• 2007.11a
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• pp.283-286
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• 2007

This paper proposes a genetic algorithm (GA) approach to instance selection in case-based reasoning (CBR) for the prediction of Korea Stock Price Index (KOSPI). CBR has been widely used in various areas because of its convenience and strength in complex problem solving. Nonetheless, compared to other machine learning techniques, CBR has been criticized because of its low prediction accuracy. Generally, in order to obtain successful results from CBR, effective retrieval of useful prior cases for the given problem is essential. However, designing a good matching and retrieval mechanism for CBR systems is still a controversial research issue. In this paper, the GA optimizes simultaneously feature weights and a selection task for relevant instances for achieving good matching and retrieval in a CBR system. This study applies the proposed model to stock market analysis. Experimental results show that the GA approach is a promising method for instance selection in CBR.

• Journal of Navigation and Port Research
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• v.35 no.7
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• pp.589-596
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• 2011

Terminal market has rapidly crashed and market rates have taken a sharp plunge. The substantial throughput decrease resulted from the world economic downturn has been a finishing blow to the terminal operators in Busan. Every terminal operator is taking cost saving as its first priority and accelerating structural reform and downsizing. Under the desperate situation, the need of effective cost analysis would be highly required to effectively control operation cost and to develop new services to satisfy the different needs of the customers. Furthermore, terminal operators could reduce unnecessary activities and concentrate their resource on the more cost-effective process through the operation cost analysis. In order to suggest a new framework of the cost control of container terminals, this paper seeks to analyze terminal costs based on ABC approach by processing actual data.