• Journal of the Korean Home Economics Association
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• v.41 no.7
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• pp.157-168
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• 2003

The purposes of this study were to explore the rural women's labor by measuring labor value economically. To achieve the purpose, this study applied four methods : replacement cost method individual function, replacement cost method generalist, opportunity cost method and shadow wage method. The results of this study were as follows: 1) Time used for agricultural work and household work by with women were 5.3 hours and 3.8 hours each. 2) According to the methods used, the amounts of valuing rural women's labor were varied and ranged from 23,000 won to 43,000 won per day. This study might help recognize the degree of rural women's labor contribution to the household income of farm households and improve the socio-economic status of rural women through showing the productivity of the rural women's labor.

• Proceedings of the KIEE Conference
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• 2005.07a
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• pp.751-753
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• 2005

In this raper, Economic value of reserve margin i.i presented by opportunity cost for Korean power system, and the level of compensation for spinning reserve that is necessary to operate power system stably is proposed. The generator that is giving up for opportunity to participate in energy market must take opportunity cost. it is relative to not only whole demand level but also marginal cost of each resource. In this paper, assume that all resource in Korea is equivalent to six generator for simulation. and we evaluate value of reserve in the time of high demand and low demand. Also we propose the way to improve a evaluation method by examine relationship between capacity payment and value of reserve.

• The Korean Journal of Community Living Science
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• v.13 no.1
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• pp.25-40
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• 2002

Recently the rural women's role has been changed from assisting men to leading major farm work. However, contribution of women in the rural area has not beers fairly evaluated. Hence, it has been difficult for the rural women to receive the reasonable compensation if they injured, had some disasters or were divorced. Therefore this study tried to suggest economic methods such as market cost approach, opportunity cost method and shadow wage method for evaluating rural women's labor. It might provide some information for helping to establish the status of rural women as a income earner through estimating money value of labor contributed by rural women and furthermore, be useful information to improve the efficiency of farm labor by exploring the relationship between value of labor and actual income. Hence, it might help improve the economic situation and life at home of rural women, solve difficulties in the real life and reduce disparity of economic distribution between urban and rural area.

• Journal of the Korean Home Economics Association
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• v.40 no.10
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• pp.161-176
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• 2002

This study is a basic research for the estimation of the value of unpaid household labor within the national economy system to be reflected in the related policy-making. By measuring economic value of unpaid household labor and estimating the ration to GDP, this study attempted to confirm the productivity of the unpaid household labor and thus contribute to the improvement of socio-economic status of women. Especially, it focused on the development of a standard of estimating unpaid household labor as a method applicable to the present economic and legal system. To organize the method of economic valuation of unpaid household labor and calculate the ration to GDP, this study used three approaches: replacement cost method individual function, replacement cost method generalist and opportunity cost method. Although the estimated result revealed that the economic value of unpaid household labor showed a great extent of deviation according to the estimating methods and the wage rate, total value of household labor ranged from one hundred and thirty eight to two hundred and thirty trillion wens, about 28-48% of GDP in Korea.

• 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.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.3
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• pp.157-165
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• 2020

This paper estimates the optimum level of reserves in Vietnam based on the approach of reserves' cost-benefit and sovereign risk which is one of developing countries' characteristics. The cost of reserves is the opportunity cost when holding reserves. The benefit of reserves is the loss due to country's default in case that there is no reserves to finance external debt payment. The optimum reserves is found out by minimizing the total of opportunity cost and loss due to country's default with the probability of default. Through the usage of HP Filter method for calculating the loss due to country's default, ARDL regression for the risk premium model and lending rate of VND as proxy for opportunity cost together with the Vietnamese economic data in the period of 2005 - 2017, the empirical results show that the optimum reserves in Vietnam is almost higher than the actual reserves during the research period except the point of Q3/2008 and the last point of research period - Q4/2017. Therefore, Vietnam should continue to increase reserves for safety but Vietnam does not need pushing quickly the speed of increasing reserves. In addition, controlling Vietnamese optimum reserves is necessary to help the actual reserves become reasonable.

• Journal of the Korean Operations Research and Management Science Society
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• v.26 no.4
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• pp.83-97
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• 2001

Net Present Value (NPV) criterion has been the most widely used criterion to evaluate investment opportunities. However, the analysis based on the NPV criterion falls to consider the managerial flexibility of deferring decisions until major uncertainty is resolved. Recently, real options method attracted a lot of attention as a Powerful approach to address the problem. If investment decision is deferred, the value of the investment opportunity increases but opportunity cost increases at the same time. Therefore, it is important to decide the optimal timing how long the decision can be deferred. In this paper, we developed a model deciding the optimal decision timing. Using the real options approach, the model derived the optimal deferring time until a decision is made. Then, the model was applied to a Korean mobile telecommunications company who wants to invest on the wireless resale business. We believe that this model would be very useful to overcome the problem of NPV decision criterion. With this approach, we can make contingent decisions based on the observation of uncertainly resolutions.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• autumn
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• pp.359-364
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• 2003

The loss of potential opportunity profit which is consisting in the partial markups of the corporation would taking placed in related with the time-delay deeply, has customarily disregarded in contract adjustment under the principles of denial of cost accounting method, declined conjecture in the point of benefits and protection of the law in scope of compensation and the restricted conditions of constant contract. It is being resulted from that the policies of the general principles of accounting standards which is subjected to ask an objective data and evidence, and the denial system as a debt derived from imperfect legal theory applied by current law. Therefore, it is necessitated to find if any irrationality in the positive system is and further to draw an improved reasonable measures to adopt by review of constant system preparing tile reasonableness with the method of suitable quantification devices provided that any time-delay is induced by the party.

• Journal of Family Resource Management and Policy Review
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• v.17 no.2
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• pp.55-74
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• 2013

This research developed standardized satellite accounts for household production to measure the entire production in Korea using representative Korean data. This study utilized standardized methods for measuring the expenditure and consumption of expendable supplies as an element of intermediate goods in household production. The results of this research can be summarized as follows. First, the total value of household production in Korea in 2009 turned was 268 trillion won, which would be 10.16% of the GDP, based on using the method of replacement by specialty for estimating the value of housework, while it was 356 trillion won, which would be 13.5% of the GDP (2,636 trillion won), based on the method of opportunity cost. Second, the economic value of labor invested in household production was 220 trillion won when using the data from 12 main corresponding wages in the market, while it was 203 trillion won when using the method of total replacement, which used the wages of housekeepers, and 290 trillion won when using the method of opportunity cost in measuring the value of housework labor. Third, in estimating the proportion by section in terms of the total value of household production, the portion of labor in household production was measured from 76% to 82%, depending on the methods used, which is the most significant section. These results indicate that housework has the characteristics of labor-centered work. On the other hand, the value of expenditure on and consumption of expendable supplies, as one element of intermediate goods, is 63 trillion won, which is 17.7% (using the method of opportunity cost in measuring the labor of housework) of household production. Also, the value of capital goods, as the other element of intermediate goods is 2.3 trillion won, which is 0.9% (using the method of opportunity cost) of household production. In conclusion, as an element of household production, housework labor was higher in household production than expenditures on expendables, especially for cooking, cleaning, and caring for children. In the future, people should be cautious about estimating that the amount of household work could be reduced, as women's labor in the market and the household work produced by the market will increase.

• Journal of KIBIM
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• v.1 no.1
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• pp.18-25
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• 2011

Construction cost estimation in the early phase provides the opportunity to make reasonable decisions related to the project. For estimating this cost, various methods have been developed. But several problems have been recognized like accuracy, relation beteewn design and cost etc. In this study, we developed the method of cost estimating for building parts. The modified method has defferent ratio of space functions to calculate cost more correctly. Also historical cost data is used in this modified method for architects to estimate cost conveniently. By this modified method, we expects architects should easily design buildings based on cost.