• Title/Summary/Keyword: opportunity cost method

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Estimation of Welfare Change from Water Quality Degradation (수질 악화로 인한 후생변화의 추정)

  • Jeon, Chul-Hyun;Lee, Chung-Sun;Shin, Hio-Jung
    • Journal of Environmental Policy
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    • v.9 no.2
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    • pp.135-155
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    • 2010
  • The purposes of the paper are to estimate welfare change from water quality degradation by using contingent valuation method in Namdae stream of Gangrung and identify what factors of Namdae stream are important to Gangrun citizens. The study results show their total WTP per year and per household, \117,040 to improve Namdae stream quality from grade 3 to grade 1, including monetary WTP \87,502 plus opportunity cost of volunteering time for protection campaign, \29,538. The amount of total welfare change from water quality degradation based on the total WTP estimated above is calculated to be \27 billion of which the amount, as a sort of damage cost from water quality degraded, is so huge. All projects and policies related to natural environments, therefore, should consider both indirect and direct effects from them because natural environments have the irreversibility once degraded or deteriorated and would ultimately be influential on humans, both current and future generations, with tremendous amounts of time and costs beyond our imagination.

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Analysis of Changes in Power Generation of Each Power Generation Company by the Fine-Dust Seasonal Management System (미세먼지 계절관리제로 인한 발전사별 전력생산량 변화 분석)

  • Kim, Bu-Kwon;Won, Doo Hwan
    • Environmental and Resource Economics Review
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    • v.30 no.4
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    • pp.627-648
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    • 2021
  • The fine-dust season management system refers to the policy of implementing enhanced reduction measures in transportation, power, business and living sectors in winter, when fine dust levels are high. The fine dust season management system is a regulatory policy that causes social costs and transfers to various economic players. Equity is an important issue for the cost burden. Therefore, in this study, the cost of each power generator was analyzed using the coal power generation reduction amount of each power generator to verify that the cost of the power sector is evenly distributed. In particular, the effect of the fine dust season management system on coal power generation of power generators was analyzed by applying a synthetic control method that can identify the time-variable effect of the policy. It was confirmed that the fine dust season management system reduced volume of fuel and power generation in coal power plants, resulting in an increase in the cost of the power generation sector, even considering the effect of some power demand due to the COVID-19 crisis. However, it could be seen that these costs were not distributed equally among the generators, and that they were more costly to the specific generators.Social costs incurred by fine dust season management need to be improved so that stakeholders are equally burdened.

A Method for Determination of Nitrogen in Ruminant Feedstuffs and Products

  • Islam, M.R.;Ishida, M.;Ando, S.;Nishida, T.;Yamada, T.
    • Asian-Australasian Journal of Animal Sciences
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    • v.16 no.10
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    • pp.1438-1442
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    • 2003
  • A method for the determination of nitrogen in ruminant feedstuffs, products and excreta (e.g. milk and urine) using a spectrophotometer is developed, where samples processed for P determination are also used to determine N. Samples are digested with sulphuric acid and subsequently with hydrogen peroxide in Kjeldahl tubes. Digested solutions along with phenol and buffered alkaline hypochlorite reagents are incubated in a water bath at $37^{\circ}C$ for 30 min and presented in the spectrophotometer. The spectrophotometer set at 625 nm measures the concentration of N of each sample. Nitrogen in 261 of the samples was also determined by the classical Kjeldahl method in order to develop a relationship between N determined by the Kjeldahl method (Y) and the colorimetric method (X). The mean value of Y was as high as that of X (0.92 vs. 0.96; p>0.05). The colorimetric method predicted Kjeldahl N highly significantly (Y=0.985X-0.024, $R^2=0.993$, p<0.001; or more simply Y=0.974X, $R^2=0.993$, p<0.001). An analysis of regression found no difference (p>0.05; both t-test and F-test) between colorimetric (0.96% N) and adjusted (0.96% N) N. In comparison with the Kjeldahl method, the analytical capacity of N by colorimetric method increases greatly, where 200-300 determinations of N are possible in a working day. In addition, the system provides an opportunity to use not only the same digested solution for both N and P determination of a particular sample, but also uses the same spectrophotometer to assay both N and P. Therefore, the system may be attractive in situations where both elements of a sample are to be determined. In conclusion, the speed of N determination, low cost, efficient use of labour, time and reagents, fewer items of equipment, and the reduction of environmental pollution by reducing effluent and toxic elements are the advantages of this method of N determination.

A Study on the Section Change Using the Slip-Form Method (슬립폼 공법 적용 시 단면변화에 대한 고찰)

  • Suh, Jin-Sun;Han, Jun-Young;Im, Chil-Soon
    • Proceedings of the Korean Institute Of Construction Engineering and Management
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    • 2007.11a
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    • pp.123-128
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    • 2007
  • Already, core wall construction method for apartment wall structure and general building special areas applied the engineering method's appropriate examination. Also, trial and error depending on slip-form method is a good examination opportunity to consider. In the present paper's slip-form engineering method l)Casting concrete to slab in sliding 2)RC structure + SRC structure (part of segment) 3)Inside segment variation(straight line-diagonal-circle) are together while determining whether it is possible not to carry out actual construction work on the structure. Finally, small problems continuously appear on actual slip-form method application, design and engineering, starting with planning thoroughly the field examination and diagnosing the atmosphere, minimizing cost, secure work safety facilities characterized by good quality, slip-form research extension, development and decision-making.

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The Study on the Elaboration of Technology Valuation Model and the Adequacy of Volatility based on Real Options (실물옵션 기반 기술가치 평가모델 정교화와 변동성 유효구간에 관한 연구)

  • Sung, Tae-Eung;Lee, Jongtaik;Kim, Byunghoon;Jun, Seung-Pyo;Park, Hyun-Woo
    • Journal of Korea Technology Innovation Society
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    • v.20 no.3
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    • pp.732-753
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    • 2017
  • Recently, when evaluating the technology values in the fields of biotechnology, pharmaceuticals and medicine, we have needed more to estimate those values in consideration of the period and cost for the commercialization to be put into in future. The existing discounted cash flow (DCF) method has limitations in that it can not consider consecutive investment or does not reflect the probabilistic property of commercialized input cost of technology-applied products. However, since the value of technology and investment should be considered as opportunity value and the information of decision-making for resource allocation should be taken into account, it is regarded desirable to apply the concept of real options, and in order to reflect the characteristics of business model for the target technology into the concept of volatility in terms of stock price which we usually apply to in evaluation of a firm's value, we need to consider 'the continuity of stock price (relatively minor change)' and 'positive condition'. Thus, as discussed in a lot of literature, it is necessary to investigate the relationship among volatility, underlying asset values, and cost of commercialization in the Black-Scholes model for estimating the technology value based on real options. This study is expected to provide more elaborated real options model, by mathematically deriving whether the ratio of the present value of the underlying asset to the present value of the commercialization cost, which reflects the uncertainty in the option pricing model (OPM), is divided into the "no action taken" (NAT) area under certain threshold conditions or not, and also presenting the estimation logic for option values according to the observation variables (or input values).

Development of the Wireless Technique for Health Monitoring of Superconducting Motor (초전도 모터의 상태진단을 위한 데이터 신호 무선처리 기법개발)

  • Seo, K.C.;Lee, M.R.;Lee, J.H.;Kwon, Y.K.;Shon, M.H.
    • Proceedings of the KSME Conference
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    • 2004.11a
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    • pp.829-834
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    • 2004
  • This research is to development advanced health(condition) monitoring system of superconducting motors. Development of advanced condition monitoring systems offers the prospect of improved performance, assessment, and operation, simplified design, enhanced safety, and reduced overall cost of advanced and next generation superconducting motor. For advanced and next generation superconducting motor design, the opportunity exists to develop and implement real-time and continuous monitoring systems by integrating wireless and computational technique. Generally, condition monitoring and control of temperature is essential for managing the superconducting motor components, rotor and structures. In this research, development of advanced monitoring in low temperature and high speed operating environments offers the potential to greatly improve the control of harsh environments. In conventional method, slip rings have been used to acquire data from these sensors. However, the increase of sensors leads to vibration of the rotation axis and noise signals due to kinematics contact. In this study, the wireless data acquisition technique was employed to develop more stable monitoring system adequate for high speed rotating system.

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Investigation of the effect of weak-story on earthquake behavior and rough construction costs of RC buildings

  • Gursoy, Senol;Oz, Ramazan;Bas, Selcuk
    • Computers and Concrete
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    • v.16 no.1
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    • pp.141-161
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    • 2015
  • A significant portion of residential areas of Turkey is located in active earthquake zones. In Turkey occurred major earthquakes in last twenty years, such as Erzincan (1992), Kocaeli and $D{\ddot{u}}zce$ (1999), $Bing{\ddot{o}}l$ (2003), Van (2011). These earthquakes have demonstrated that reinforced concrete (RC) buildings having horizontal and vertical irregularities are significantly damaged, which in turn most of them are collapsed. Architectural design and arrangement of load-bearing system have important effect on RC building since architectural design criteria in design process provide opportunity to make this type of buildings safer and economical under earthquake loads. This study aims to investigate comparatively the effects of weak story irregularity on earthquake behavior and rough construction costs of RC buildings by considering different soil-conditions given in the Turkish Earthquake Code. With this aim, Sta4-CAD program based on matrix displacement method is utilized. Considering that different story height and compressive strength of concrete, and infill walls or their locations are the variables, a set of structural models are developed to determine the effect of them on earthquake behavior and rough construction costs of RC buildings. In conclusion, some recommendations and results related to making RC buildings safer and more economical are presented by comparing results obtained from structural analyses.

A Study on Conformity of Packing in International Sales of Contract (국제물품매매계약에서 포장의 계약적합성에 관한 연구)

  • Kim, Jae-Seong;Park, Se-Hun
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.54
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    • pp.123-144
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    • 2012
  • Seller shall deliver the goods with a perfect condition of packing or container in international trade. Unless otherwise seller shall warranty that the goods arrive at destination with a safe and economic value. Buyer may ask packing is to be made in specific condition or refuse to accept when the packing is not made in accordance with trade customs between among merchants. Especially packing is to be considered under the local law and process. Sometimes tax will be added to specific condition of packing for example glasses, metal sheet or others. Warning signs shall be included as form of both words and diagrams, and be in form of ensuring understanding in the local market. Wide range of warning signs can be used for communications and understanding of packing. Packing of a product can usefully symbolize a range of product information, or any relevant warnings, and give an opportunity for displaying messages of promoting the company and the goods. The seller may choose the best method to maintain its value but find a way to reduce packing cost, size for convenience during delivery, design, and local customs. There are many things to be considered for packing to seller. The purpose of packing is to protect the goods itself and to maintain its economic value during storage, delivery, transshipment, and distribution to end users.

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Injury Assessment and Analysis under Blast Load Using MADYMO (MADYMO를 이용한 폭발 하중에 따른 인체 상해평가 및 분석)

  • Choi, Ho-Min;Kim, Jae-Ki;Pack, In-Seok;Lee, In-Young;Kwon, Dae-Ryeong;Lee, Seok-Soon
    • Journal of the Korean Society of Manufacturing Process Engineers
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    • v.16 no.1
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    • pp.24-29
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    • 2017
  • There is a need for explosion experiments for explosion-related research. However, there are many restrictions in performing an actual experiment. Therefore, in this paper, an alternative method of overcoming the constraints of an explosion experiment has been conducted using a passenger behavior analysis program called MADYMO to assess and analyze the human body injury due to explosion load. To increase the reliability of the analysis, a drop test has been conducted with the analysis. We provide a new framework for performing the analysis. In future, we will further develop our research with the goal of reducing the opportunity cost for the study of the human body injury.

AC Servo Motor Control Using Low Voltage High Performance DSP (저전압 고성능 DSP를 이용한 AC 서보모터 제어)

  • 최치영;홍선기
    • Journal of the Semiconductor & Display Technology
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    • v.3 no.1
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    • pp.21-26
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    • 2004
  • Recently with the development of power switching device and DSP which has peripheral devices to control AC servo system, the servo technology has met a new development opportunity. Those things make it possible to reduce the time of developing a AC servo system. Fixed point DSP such as TMS320F240x, and TMS320F28x series have a disadvantage in calculating floating number where TMS320C32 or TMS320C31 are floating point DSP. However they usually become a complex hardware system to implement the AC servo system and it increases the cost. In this study, a DSP based AC servo system with a 3-phase PMSM is proposed. The newly produced DSP TMX320F28l2-version C which has the performance of fast speed, 150MIPS, and a rich peripheral interface such as a 12bit high speed AD converter, QEP(Quadrature Encoder Pulse) circuit, PDPINT(Power Drive Protect Interrupt), SVPWM module and dead time module are used. This paper presents a method to overcome fixed point calculating using scaling all parameters. Also space vector pulse width modulation (SVPWM) using off-set voltage and a digital PI control are implemented to the servo system.

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