• Title/Summary/Keyword: price comparison

Search Result 533, Processing Time 0.025 seconds

Performance Comparison of Reinforcement Learning Algorithms for Futures Scalping (해외선물 스캘핑을 위한 강화학습 알고리즘의 성능비교)

  • Jung, Deuk-Kyo;Lee, Se-Hun;Kang, Jae-Mo
    • The Journal of the Convergence on Culture Technology
    • /
    • v.8 no.5
    • /
    • pp.697-703
    • /
    • 2022
  • Due to the recent economic downturn caused by Covid-19 and the unstable international situation, many investors are choosing the derivatives market as a means of investment. However, the derivatives market has a greater risk than the stock market, and research on the market of market participants is insufficient. Recently, with the development of artificial intelligence, machine learning has been widely used in the derivatives market. In this paper, reinforcement learning, one of the machine learning techniques, is applied to analyze the scalping technique that trades futures in minutes. The data set consists of 21 attributes using the closing price, moving average line, and Bollinger band indicators of 1 minute and 3 minute data for 6 months by selecting 4 products among futures products traded at trading firm. In the experiment, DNN artificial neural network model and three reinforcement learning algorithms, namely, DQN (Deep Q-Network), A2C (Advantage Actor Critic), and A3C (Asynchronous A2C) were used, and they were trained and verified through learning data set and test data set. For scalping, the agent chooses one of the actions of buying and selling, and the ratio of the portfolio value according to the action result is rewarded. Experiment results show that the energy sector products such as Heating Oil and Crude Oil yield relatively high cumulative returns compared to the index sector products such as Mini Russell 2000 and Hang Seng Index.

Outdoor Workers and Compensating Wage Differentials: A Comparison across Regions and Wage Levels (실외노동과 보상적 임금격차: 지역별·분위별 추이)

  • Jeong, Sangyun;Song, Changhyun;Kim, Yeonwoo;Lim, Up
    • Journal of the Korean Regional Science Association
    • /
    • v.38 no.2
    • /
    • pp.3-20
    • /
    • 2022
  • The purpose of this study is to explore the heterogeneity of compensating wage differentials for outdoor workers, under the threat of climate change and heatwave, by region and by wage quantile. This study conducted Oaxaca-Blinder decomposition, multiple regression analysis by region, and unconditional quantile regression analysis using the Korean Working Conditions Survey, which provides individual-level information on the working environment and worker's characteristics. The implications derived from the results of the study are as follows: For most variables, the endowment effect and the price effect were greater for indoor workers, while experience and gender played a role in narrowing the wage gap; The compensating wage differentials for outdoor workers were confirmed to be 2.4% nationwide, depending on the region however, the compensating wage differentials varied from 5 times of national average to nothing statistically significant; The higher the wage quantile, the greater the compensating wage differentials for outdoor workers, and statistically significant monetary compensation was not identified for some low-level outdoor workers. This study is meaningful as an early study that revealed the heterogeneity of compensating wage differentials for outdoor workers and suggested further research on the topic.

Design of High Efficiency Permanent Magnet Synchronous Generator for Application of Waste Heat Generation ORC System (폐열발전 ORC 시스템 적용을 위한 고효율 영구자석형 동기발전기 설계)

  • Yeong-Jung Kim;Seung-Jin Yang;Chae-Joo Moon
    • The Journal of the Korea institute of electronic communication sciences
    • /
    • v.18 no.1
    • /
    • pp.45-52
    • /
    • 2023
  • The power generation method using expensive diesel has operation problems such as high cost diesel generator and a lack of reserved power due to increase of power demand in some islands, requiring expansion of power generation facilities. To solve this problems, it is necessary to improve the efficiency of power generation facilities through an ORC(Organic Rankin Cycle) system application that uses waste heat as a heat source. Therefore, localized application technology of price competitive and highly reliable ORC power generation system is needed, and optimization technology of generators is having great effect, so this study performed two generator designs to get a high-efficiency generator with an optimized 30kW output. The comparison of simulation data for two designed models showed that a generator with SPM factor of 46.2% had an efficiency of 92.1% and a power ouput of about 23.2kW based on 12,000rpm, a generator with SPM factor of 44.46%, had a power output of 27.9kW and efficiency of 93.6% based on above rpm. For the verification of improved design model with SPM factor of 44.46%, the prototype test system with 110kW motor dynamometer was installed and got to the efficiency of 92.08% with conditions of the rated capacity 25kW at 12,000rpm, the test results of prototype generator showed the validity of generator design.

Comparison of Fast Food Consumption Patterns, Choice, and Satisfaction According to Age (연령에 따른 패스트푸드 이용실태, 선택, 만족도 비교)

  • Hong, Seung–Hee
    • Journal of Korea Entertainment Industry Association
    • /
    • v.13 no.5
    • /
    • pp.25-36
    • /
    • 2019
  • The purpose of this study was to investigate the effect of fast food intake, choice, and satisfaction on age among 311 people living in the metropolitan area. The frequency of fast food intake was high in the 20s and 30s, and those in the 40s and over 50s were low, showing a significant difference according to age. Costs for fast food purchases mainly ranged from 5,000 won to 7,000 won. Major sources of information on choosing fast food were mainly from friends and the internet in 20s, and mass media from over 30s. Thirty-nine percent of subjects responded that their dietary habits changed after fast food intake, and the most changes was to like spicy food, followed by eating-out times increased. The factors affecting the choice of fast food were mainly easy to eat, followed by time was not influenced and taste, and taste showed significant difference according to age. Among the subjects who were worried about fast food, 30s showed mainly increase in body weight and over 50s had health problem, and a significant difference was observed according to age. For the improvements in fast food intake, subjects answered in nutrition, hygiene and price in order. Fast food brands, services, menus were the most satisfied in 30s, and 40s were the most unsatisfied, and there was a significant difference. In conclusion, the frequency of fast food intake was higher in young people, and the choice of fast food and satisfaction appeared to be significantly influenced by age. Therefore, data are required to recognize and practice a balanced diet by activating studies on the fast food intake of middle-aged and elderly people and understanding consumer changes.

The Effects of Hot Temperature on Impulsive Behaviors: The Role of Product Types as a Moderator

  • Ahn, Hee-Kyung
    • Asia Marketing Journal
    • /
    • v.14 no.3
    • /
    • pp.27-48
    • /
    • 2012
  • Temperature and weather are all around us, quite literally. Furthermore, temperature and weather not only permeate our atmosphere, constantly affecting our visceral states of warmth and coldness, but they metaphorically permeate our language. People, products, and ideas can all be "hot" or "cold." Given this ubiquity, it is perhaps surprising that relatively little research has systematically examined the influence of temperature on choice and judgment. Temperature-related words such as "hot" and "cold" are often used to describe impulsive and calculated behaviors, respectively. These metaphoric connotations of thermal concepts raise the question as to whether temperature, psychological states and decision making are related to each other, and if so, how. The current research examines these questions and finds support for a relationship. Across one field study and one laboratory experiment, I demonstrate that both hot ambient room temperature (Spa) and hot temperature primes (words) trigger decision outcomes in line with the metaphoric association between hot temperature and impulsivity. In the field study, participants were recruited in hot (40-50 degrees Celsius) and cold (10 degrees Celsius) rooms at a spa. Participants were simply asked to indicate their willingness-to-pay (WTP) for three product categories (travel package, birthday dinner, and cell phone). The results showed that participants in the hot room in comparison to those in the cold room were willing to pay more for the same products. Next, I tested if our results would go beyond ambient temperature and would hold if I were to prime temperature concepts by using a different priming method (i.e., subliminal vs. supraliminal). In line with the previous findings in the spa, participants in the hot priming condition were more likely to choose the wrong answer for the bat and baseball question than those in the cold priming condition. In addition, product type (e.g., pleasure vs. necessity) can moderate the effect of hot temperature on impulsivity. Mood and arousal did not mediate participants' responses. My findings seem to suggest that the effects of temperature on decision outcomes can be attributed to metaphoric associations rather than incidental mood or arousal. The current research applies a novel perspective in understanding the relationship between temperature and judgment and decision making. Also, the results have practical implications for packaging, advertising, merchandising, and pricing of goods and services, as well as for public policy and awareness. One of the most natural implications of my findings would be that retailers would be better off carrying more impulse purchase items on hot days. Furthermore, point-of-purchase promotions encouraging impulse purchase is more likely to be effective in retail environments with higher temperature than with lower temperature. In addition, advertisements and product packages evoking hot temperature associations (e.g., beach, sunshine, summer) might lead consumers to pay higher price for the advertised product than those with cold temperature associations.

  • PDF

Analysis of Shipping Markets Using VAR and VECM Models (VAR과 VECM 모형을 이용한 해운시장 분석)

  • Byoung-Wook Ko
    • Korea Trade Review
    • /
    • v.48 no.3
    • /
    • pp.69-88
    • /
    • 2023
  • This study analyzes the dynamic characteristics of cargo volume (demand), ship fleet (supply), and freight rate (price) of container, dry bulk, and tanker shipping markets by using the VAR and VECM models. This analysis is expected to enhance the statistical understanding of market dynamics, which is perceived by the actual experiences of market participants. The common statistical patterns, which are all shown in the three shipping markets, are as follows: 1) The Granger-causality test reveals that the past increase of fleet variable induces the present decrease of freight rate variable. 2) The impulse-response analysis shows that cargo shock increases the freight rate but fleet shock decreases the freight rate. 3) Among the three cargo, fleet, and freight rate shocks, the freight rate shock is overwhelmingly largest. 4) The comparison of adjR2 reveals that the fleet variable is most explained by the endogenous variables, i.e., cargo, fleet, and freight rate in each of shipping markets. 5) The estimation of co-integrating vectors shows that the increase of cargo increases the freight rate but the increase of fleet decreases the freight rate. 6) The estimation of adjustment speed demonstrates that the past-period positive deviation from the long-run equilibrium freight rate induces the decrease of present freight rate.

Preliminary Study on Effect of the Field Correlation Factor for Increasing of the Accuracy in a Direct Reading Instruments on Photoionization Detector for Total Volatile Organic Compounds (총휘발성유기화합물 측정 직독식장비 정확도 향상을 위한 현장보정계수 활용 연구)

  • Sungho Kim;Gwangyong Yi;Sujin Kim;Hae Dong Park
    • Journal of Korean Society of Occupational and Environmental Hygiene
    • /
    • v.34 no.1
    • /
    • pp.67-76
    • /
    • 2024
  • Objectives: Direct reading instruments (DRIs) are widely used by industrial hygienists and other experts for preliminary survey and identifying source locations in many industrial fields. Photoionization detectors (PIDs), which are a form of hand-held portable DRIs, have been used for a variety of airborne vaporized chemicals, especially evaporated hydrocarbon solvents. The benefits of PIDs are high sensitivity between each chemical, competitive price, and portability. With the goal of increasing the accuracy of logged PID concentrations, previous studies have performed tests for the assessment of single chemical compounds, not mixtures. The purpose of this preliminary study was to measure mixtures with a PID and charcoal tube at the same time and compare the accuracy between them. Methods: A chamber test was implemented with different mixtures of hydrocarbon chemicals (acetone, isopropyl alcohol, toluene, m-xylene) and levels in the range of 14 to 864 ppm. Three PIDs and charcoal tubes were connected to the chamber and measured the chemical mixtures simultaneously. A comparison of accuracy and the PID group of concentrations with manufacture correction factor (M_CF) and field correction factor (F_CF) applied was performed. Results: The accuracy of the PID concentrations data-logged from the PID did not meet the accuracy criteria except for the mixture level B and C logged from PID No. 2, which was 18% of all tests for meeting accuracy criteria. The mean and standard deviation (SD) of concentration (ppm) of the charcoal tube followed by each mixtures' level were 10.37±0.26, 155.33±5.28, 300.80±11.65, and 774.93±22.65, respectively. When applying F_CF into the PID concentrations, the accuracy increased by nearly 82%. However, in the case of M_CF, none met the accuracy criterion. Between the PID there were differences of logged concentrations. Conclusions: In this preliminary study, the concentration of a logged PID with F_CF applied was a better way to increase accuracy compared to applying M_CF. We suggest that additional research is necessary to consider environmental factors such as temperature and humidity.

Comparison of NDVI in Rice Paddy according to the Resolution of Optical Satellite Images (광학위성영상의 해상도에 따른 논지역의 정규식생지수 비교)

  • Jeong Eun;Sun-Hwa Kim;Jee-Eun Min
    • Korean Journal of Remote Sensing
    • /
    • v.39 no.6_1
    • /
    • pp.1321-1330
    • /
    • 2023
  • Normalized Difference Vegetation Index (NDVI) is the most widely used remote sensing data in the agricultural field and is currently provided by most optical satellites. In particular, as high-resolution optical satellite images become available, the selection of optimal optical satellite images according to agricultural applications has become a very important issue. In this study, we aim to define the most optimal optical satellite image when monitoring NDVI in rice fields in Korea and derive the resolution-related requirements necessary for this. For this purpose, we compared and analyzed the spatial distribution and time series patterns of the Dangjin rice paddy in Korea from 2019 to 2022 using NDVI images from MOD13, Landsat-8, Sentinel-2A/B, and PlanetScope satellites, which are widely used around the world. Each data is provided with a spatial resolution of 3 m to 250 m and various periods, and the area of the spectral band used to calculate NDVI also has slight differences. As a result of the analysis, Landsat-8 showed the lowest NDVI value and had very low spatial variation. In comparison, the MOD13 NDVI image showed similar spatial distribution and time series patterns as the PlanetScope data but was affected by the area surrounding the rice field due to low spatial resolution. Sentinel-2A/B showed relatively low NDVI values due to the wide near-infrared band area, and this feature was especially noticeable in the early stages of growth. PlanetScope's NDVI provides detailed spatial variation and stable time series patterns, but considering its high purchase price, it is considered to be more useful in small field areas than in spatially uniform rice paddy. Accordingly, for rice field areas, 250 m MOD13 NDVI or 10 m Sentinel-2A/B are considered to be the most efficient, but high-resolution satellite images can be used to estimate detailed physical quantities of individual crops.

The Relationship Between DEA Model-based Eco-Efficiency and Economic Performance (DEA 모형 기반의 에코효율성과 경제적 성과의 연관성)

  • Kim, Myoung-Jong
    • Journal of Environmental Policy
    • /
    • v.13 no.4
    • /
    • pp.3-49
    • /
    • 2014
  • Growing interest of stakeholders on corporate responsibilities for environment and tightening environmental regulations are highlighting the importance of environmental management more than ever. However, companies' awareness of the importance of environment is still falling behind, and related academic works have not shown consistent conclusions on the relationship between environmental performance and economic performance. One of the reasons is different ways of measuring these two performances. The evaluation scope of economic performance is relatively narrow and the performance can be measured by a unified unit such as price, while the scope of environmental performance is diverse and a wide range of units are used for measuring environmental performances instead of using a single unified unit. Therefore, the results of works can be different depending on the performance indicators selected. In order to resolve this problem, generalized and standardized performance indicators should be developed. In particular, the performance indicators should be able to cover the concepts of both environmental and economic performances because the recent idea of environmental management has expanded to encompass the concept of sustainability. Another reason is that most of the current researches tend to focus on the motive of environmental investments and environmental performance, and do not offer a guideline for an effective implementation strategy for environmental management. For example, a process improvement strategy or a market discrimination strategy can be deployed through comparing the environment competitiveness among the companies in the same or similar industries, so that a virtuous cyclical relationship between environmental and economic performances can be secured. A novel method for measuring eco-efficiency by utilizing Data Envelopment Analysis (DEA), which is able to combine multiple environmental and economic performances, is proposed in this report. Based on the eco-efficiencies, the environmental competitiveness is analyzed and the optimal combination of inputs and outputs are recommended for improving the eco-efficiencies of inefficient firms. Furthermore, the panel analysis is applied to the causal relationship between eco-efficiency and economic performance, and the pooled regression model is used to investigate the relationship between eco-efficiency and economic performance. The four-year eco-efficiencies between 2010 and 2013 of 23 companies are obtained from the DEA analysis; a comparison of efficiencies among 23 companies is carried out in terms of technical efficiency(TE), pure technical efficiency(PTE) and scale efficiency(SE), and then a set of recommendations for optimal combination of inputs and outputs are suggested for the inefficient companies. Furthermore, the experimental results with the panel analysis have demonstrated the causality from eco-efficiency to economic performance. The results of the pooled regression have shown that eco-efficiency positively affect financial perform ances(ROA and ROS) of the companies, as well as firm values(Tobin Q, stock price, and stock returns). This report proposes a novel approach for generating standardized performance indicators obtained from multiple environmental and economic performances, so that it is able to enhance the generality of relevant researches and provide a deep insight into the sustainability of environmental management. Furthermore, using efficiency indicators obtained from the DEA model, the cause of change in eco-efficiency can be investigated and an effective strategy for environmental management can be suggested. Finally, this report can be a motive for environmental management by providing empirical evidence that environmental investments can improve economic performance.

  • PDF

Categorizing Quality Features of Franchisees: In the case of Korean Food Service Industry (프랜차이즈 매장 품질요인의 속성분류: 국내 외식업을 중심으로)

  • Byun, Sook-Eun;Cho, Eun-Seong
    • Journal of Distribution Research
    • /
    • v.16 no.1
    • /
    • pp.95-115
    • /
    • 2011
  • Food service is the major part of franchise business in Korea, accounting for 69.9% of the brands in the market. As the food service industry becomes mature, many franchisees have struggled to survive in the market. In general, consumers have higher levels of expectation toward service quality of franchised outlets compared that of (non-franchised) independent ones. They also tend to believe that franchisees deliver standardized service at the uniform food price, regardless of their locations. Such beliefs seem to be important reasons that consumers prefer franchised outlets to independent ones. Nevertheless, few studies examined the impact of qualify features of franchisees on customer satisfaction so far. To this end, this study examined the characteristics of various quality features of franchisees in the food service industry, regarding their relationship with customer satisfaction and dissatisfaction. The quality perception of heavy-users was also compared with that of light-users in order to find insights for developing differentiated marketing strategy for the two segments. Customer satisfaction has been understood as a one-dimensional construct while there are recent studies that insist two-dimensional nature of the construct. In this regard, Kano et al. (1984) suggested to categorize quality features of a product or service into five types, based on their relation to customer satisfaction and dissatisfaction: Must-be quality, Attractive quality, One-dimensional quality, Indifferent quality, and Reverse quality. According to the Kano model, customers are more dissatisfied when Must-be quality(M) are not fulfilled, but their satisfaction does not arise above neutral no matter how fully the quality fulfilled. In comparison, customers are more satisfied with a full provision of Attactive quality(A) but manage to accept its dysfunction. One-dimensional quality(O) results in satisfaction when fulfilled and dissatisfaction when not fulfilled. For Indifferent quality(I), its presence or absence influences neither customer satisfaction nor dissatisfaction. Lastly, Reverse quality(R) refers to the features whose high degree of achievement results in customer dissatisfaction rather than satisfaction. Meanwhile, the basic guidelines of the Kano model have a limitation in that the quality type of each feature is simply determined by calculating the mode statistics. In order to overcome such limitation, the relative importance of each feature on customer satisfaction (Better value; b) and dissatisfaction (Worse value; w) were calculated following the formulas below (Timko, 1993). The Better value indicates how much customer satisfaction is increased by providing the quality feature in question. In contrast, the Worse value indicates how much customer dissatisfaction is decreased by providing the quality feature. Better = (A + O)/(A+O+M+I) Worse = (O+M)/(A+O+M+I)(-1) An on-line survey was performed in order to understand the nature of quality features of franchisees in the food service industry by applying the Kano Model. A total of twenty quality features (refer to the Table 2) were identified as the result of literature review in franchise business and a pre-test with fifty college students in Seoul. The potential respondents of our main survey was limited to the customers who have visited more than two restaurants/stores of the same franchise brand. Survey invitation e-mails were sent out to the panels of a market research company and a total of 257 responses were used for analysis. Following the guidelines of Kano model, each of the twenty quality features was classified into one of the five types based on customers' responses to a set of questions: "(1) how do you feel if the following quality feature is fulfilled in the franchise restaurant that you visit," and "(2) how do you feel if the following quality feature is not fulfilled in the franchise restaurant that you visit." The analyses revealed that customers' dissatisfaction with franchisees is commonly associated with the poor level of cleanliness of the store (w=-0.872), kindness of the staffs(w=-0.890), conveniences such as parking lot and restroom(w=-0.669), and expertise of the staffs(w=-0.492). Such quality features were categorized as Must-be quality in this study. While standardization or uniformity across franchisees has been emphasized in franchise business, this study found that consumers are interested only in uniformity of price across franchisees(w=-0.608), but not interested in standardizations of menu items, interior designs, customer service procedures, and food tastes. Customers appeared to be more satisfied when the franchise brand has promotional events such as giveaways(b=0.767), good accessibility(b=0.699), customer loyalty programs(b=0.659), award winning history(b=0.641), and outlets in the overseas market(b=0.506). The results are summarized in a matrix form in Table 1. Better(b) and Worse(w) index indicate relative importance of each quality feature on customer satisfaction and dissatisfaction, respectively. Meanwhile, there were differences in perceiving the quality features between light users and heavy users of any specific franchise brand in the food service industry. Expertise of the staffs was labeled as Must-be quality for heavy users but Indifferent quality for light users. Light users seemed indifferent to overseas expansion of the brand and offering new menu items on a regular basis, while heavy users appeared to perceive them as Attractive quality. Such difference may come from their different levels of involvement when they eat out. The results are shown in Table 2. The findings of this study help practitioners understand the quality features they need to focus on to strengthen the competitive power in the food service market. Above all, removing the factors that cause customer dissatisfaction seems to be the most critical for franchisees. To retain loyal customers of the franchise brand, it is also recommended for franchisor to invest resources in the development of new menu items as well as training programs for the staffs. Lastly, if resources allow, promotional events, loyalty programs, overseas expansion, award-winning history can be considered as tools for attracting more customers to the business.

  • PDF