• Journal of the Korean Society of Tobacco Science
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• v.27 no.2
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• pp.235-243
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• 2005

The government continuously increases cigarette price to reduce the smoking rates. Opinions of cigarette makers and Ministry of Health and Welfare on the effect of cigarette price hike are sharply opposed. This dispute is important because there is possibility of additional increase of cigarette price by 500 won. Therefore, as an inquiry into existing studies for the effect of cigarette price hike on tobacco product, namely analysis of the effect of cigarette price hike consumption, we empirically analyzed the effect of cigarette excise tax hike through establishing improved analytic models considering time trend. As a result, it is substantiated that time trend in the effect of cigarette excise tax hike is certainly exist and early impact is heavy. However, the amount of cigarette consumption is recovered to the level of the average in 5 months. Since it is proved that the long term effect of cigarette price hike is immaterial, health authority should reconsider the plan of additional raising cigarette price by 500 won.

• Environmental and Resource Economics Review
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• v.11 no.4
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• pp.525-556
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• 2002

This paper investigates effect of gasoline price liberalization on price elasticity of gasoline demand. By using a model where a consumer optimizes her gasoline consumption and number of visits to gas station, we derive price elasticity of gasoline demand and its response to variation of size and frequency in price changes. It shows that price elasticity is decreased with increase in the size and frequency when the price rises. Since price liberalization increases the frequency but reduces the size, the effect of the liberalization on the price elasticity may not be determined. However, price liberalization can make the elasticity higher when the size reduction effect exceeds the frequency increase effect, which is consistent with empirical evidence provided by existing studies.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.38
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• pp.47-68
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• 2008

I have observed the validity of open-offer from a point of European contract law in comparison with International Trade Law in this paper. Generally we know that an offer is an expression of willingness bo be bound to the contract. In English law if there are no intention it will be considered such as circulation of price lists or catalogues. As for French law these activities could be considered as an offer. However German law is closer to English law as to an offer. A contract which does not ascertained price is open-price terms and it can be applied not only for general commercial contracts but also for franchise or for distributorship agreements especially in Europe. When open-price terms applied to reserve a exclusive right to the contract the validity of contract can be a serious matter between principals. In English law an offer must be sufficiently complete to be capable of acceptaqnce. English law does not require that price terms should be indicated on offer. English law allow a open-price terms in the contract. In French law a contract will be valid in the absense of a price which is either determined or objectively determinable. A price by the market price of similar products is not enough to be valid offer. It should be recognized and accepted objectively by third parties. French law require that price terms should be indicated on offer. Open-price terms are not enough to be an effective offer. However German law shows more flexible than French law. In German law if the price is not fixed in the contract there are four ways to determine it. The seller may determine the price by the time of deliver. By reason of thess backgrounds I have made comparison with European contract law and International trade law on the validity of open-price offer in this paper. It seems that we are not familiar with open-price terms although franchise contract or special terms of contract have been increased in these days. So I hope this paper will be helpful to show a new point of view.

• Journal of the Korean Society of Clothing and Textiles
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• v.25 no.6
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• pp.1025-1036
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• 2001

This paper explores the effects of price discount frequency on consumer evaluation of clothing brand equity as well as the impact on consumers who exhibit different consumer characteristics. Following a preliminary investigation, two clothing brand groups were identified according to the frequency of their price discounts, one with a high frequency of price discounts, the other with a low frequency. Each brand group consisted of three women's clothing brands. A questionnaire was developed and administered to 351 females between the ages of nineteen and thirty-four in October 2000. The questionnaire included questions on evaluations on clothing brand equity (i.e., perceived quality, brand image, perceived value, reliability and brand knowledge), on consumer characteristics (i.e., clothing knowledge, clothing evaluative criteria, price perception and demographic characteristics), as well as on price discount frequency. Statistical tests, such as factor analysis. t-test and pearson's correlation, were used to analyze the data. Results of this research showed that price discount frequency negatively impacted consumer perception of clothing brand equity. The negative influence was particularly strong on the perceived quality and brand image dimensions of brand equity. The findings also suggested the effect of price discount frequency on consumer assessment of clothing brand equity was related to consumer characteristics as well. The equity of the clothing brand group with a low frequency of price discounts was positively related to clothing knowledge, price-quality inference, price-prestige inference, sale prone-ness. price mavenism, valuing the fashionable and symbolic uses of clothing and family income. On the other hand, it was negatively related to low price consciousness. The equity of the clothing brand group with a high frequency of price discounts was positively related to utilitarian economic aspects of clothing values as well as to low price consciousness. To establish and maintain high brand equity, marketers must pay attention to the frequency of price discount as it may have a negative impact on clothing brand equity.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.13 no.8
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• pp.3747-3756
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• 2012

This paper examines the effect of price ceiling regulation on the new apartment price. The analysis procedure of the study is divided into two parts, which stand for a case study on the effect of price control on the new apartment price and the survey of real estate experts on price ceiling regulation. The empirical results of our case study show that the selling price under price ceiling regulation is generally lower than that in the situation of price deregulation, in terms of the land development expense and construction cost. With regard to the survey results, more than half of respondents have opinions that price ceiling regulation has an impact on the new apartment price and lowers the price. They are equally divided pro and con regarding the problem of keeping or discarding the regulation.

• International Journal of Human Ecology
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• v.10 no.1
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• pp.75-86
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• 2009

The direct impacts of individual materialism on price perceptions and price perceptions on patronage behavior have been limited in previous research. This study examined the impact of materialism on consumer perceptions of clothing price and the influence that price perceptions have on store patronage by consumers. Using factor analysis and stepwise regression analysis, results indicated that materialistic values revealed four factors (pursuit of happiness, acquisition centrality, success, and practical-consuming). Materialistic four values influence consumer attitudes toward the positive and negative roles of price. In turn, patronage is predicted by positive and negative price-perception. Implications and future research directions are also discussed.

• Journal of the Korean Society of Clothing and Textiles
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• v.37 no.6
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• pp.737-749
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• 2013

As more famous and luxurious fashion brands enter the online market, the changes in the online market include those in the composition of merchandise, price image, and consumer behavior. Focusing on these changes, this study examines the relation of consumer price attitude and impulse buying behavior towards internet apparel purchases. Data were obtained from 377 males and females in their 20s-40s who purchased apparel from an internet mall. Convenience sampling through the internet was performed. Collected data were analyzed by descriptive statistics, factor analysis, t-test, ANOVA, Duncan test, and regression analysis using SPSS for Windows 12.0. The results of this study are as follows. First, four dimensions of consumer price attitudes towards internet apparel purchases were found that included price-quality/prestige, sale, value for money, and low price orientation. Second, the influence of consumer price attitude on impulse buying is significant. As the price attitude of price-quality/prestige orientation and sale orientation increases, impulse buying orientation is stronger. Third, there are partially significant differences on the sub-dimensions of consumer price attitude and the influence of price attitude on impulse buying by gender and age. This study will be of help to internet companies by providing information in regards to a price attitude-based marketing strategy and an adequate response to customer impulse buying.

• Journal of the Korean Society of Clothing and Textiles
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• v.27 no.8
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• pp.1004-1013
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• 2003

This study addressed an ill-understood issue of a price response model and a monopolistic price interval of fashion goods. The concept of monopolistic price interval introduced by Gutenberg has been rarely applied to the fashion goods, which is known as price sensitive goods. Thus, this study examined the price insensitive zone of the blue jean. The data of 268 respondents were analyzed using Choice-based Conjoint (CBC) analysis and t-test. Considering brand consideration set as a price determinant, we found the presence of monopolistic price interval of the jean. The results obtained from the CBC analysis showed that the bigger the size of brand consideration set, the shorter the monopolistic interval. This implied that the consumer who had a small brand consideration set was more likely to have a longer monopolistic price interval than the one who had a large brand consideration set, since the consumer with a small consideration set tended to value brand itself more than price. Although significant monopolistic price intervals were shown only for the three jean brands out of the seven, to reduce the size of brand consideration set and to increase brand loyalty were found important in maximizing firms'financial profits.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.51
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• pp.133-158
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• 2011

The purpose of this study is to analyze one of CIETEC(China International Economic and Trade Arbitration Commission) Award on the dispute arising from Cotton Sale Contact which deals with damages and reduction of the price. Especially this case focused on the effect of reduction of the price to damages. The purpose of damages is to place the aggrieved party in as good a position as if the other party had properly performed the contract. So court costs and attorney's fee should be regarded as the loss, because these are caused by consequence of the breach which is recoverable. With the same reason, overpaid taxes should also regard as the loss. It is not impossible, however, to claim both damages and reduction of the price for same loss at the same time. It means buyer could not claim damages for the same loss, once he already claimed reduction of the price. So Korean companies should consider which remedy is proper to himself under the circumstances. He should choose reduction of the price when market price is down. In case of rising market price, he should consider follows: first, it is better to choose damages based on current price(Art.76), if upswing of non-conformity price is higher then upswing of market price. Second, it is better to choose general rule for measuring damages(Art.74), if upswing of market price is higher then upswing of non-conformity price.

• Journal of Information Technology Services
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• v.6 no.2
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• pp.19-33
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• 2007

The current advance of IT and the e-commerce triggers the wide practice of dynamic pricing in all industries although the price discrimination has been very cautiously applied in the limited areas in the past. The price discrimination which offers different prices for each customer depending on their preference and buying behaviors has recently gained attention as it could provide superior benefits to sellers. The wide adoption of price discrimination, on the other hand, is reported to face buyer resistances and complaints. Our limited understanding on the perception of price fairness, which we think is key concept in the price discrimination on the Internet-enabled transactions, motives us to investigate factors that affect the perception of price fairness. This study focuses on illusion of control and lateral customer relationship to investigate their effects on price fairness in online auction and group purchase context. By conducting laboratory experiments, our study demonstrates that customers' perception on illusion of control in price determination and advantageous lateral customer relationship significantly affect price fairness perception in both online auction and group purchase environment. The findings are expected to provide researchers and managers with useful insights to develop better pricing strategies and design effective dynamic pricing mechanisms.