• Korean Journal of Air-Conditioning and Refrigeration Engineering
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• v.20 no.5
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• pp.321-326
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• 2008

This paper presents and analyzes the effects of on-grid electricity cost, fuel price and initial capital cost of a CHP system, on the optimum DG and AC capacity and NPV, by using the ORNL CHP Capacity Optimizer, which was applied to a library in a university. By considering the current domestic energy cost and initial capital cost, it is shown that the installation and operation of the CHP system is not economical. However, with the current domestic CHP installation cost and fuel price, the NPV achieved by the installation of CHP system is greater when the on-grid electricity price is a factor of ${\times}1.5$ the present value. Regarding the initial capital cost of the CHP system, the reduction of the DG cost is much more economical than that of the AC cost, with respect to NPV. Electricity cost and fuel price have opposite effects on NPV, and NPV is more sensitive to an increase of the electricity cost than an increase of the fuel price.

• Journal of the Korean Society of Food Culture
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• v.25 no.5
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• pp.578-588
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• 2010

The purpose of this study was to investigate the effects of perceived price and servicescape on employee service quality, food and beverage quality, and customer value in Daegu Korean restaurants and to suggest methods for them to become the food mecca of Korea and the world. The samples for this study were customers of nine Korean restaurants in Daegu. A total of 368 questionnaires were analyzed with factor analysis, a reliability test, and a covariance structural analysis. The results showed that perceived price was positively related to employee service quality and food and beverage quality and that servicescape was positively related to employee service quality and food and beverage quality. However perceived price, servicescape, employee service quality, and food and beverage quality were not related to customer value. The reasons were that these factors did not influence perceived customer value in Daegu Korean restaurants. The Daegu municipal office should require these restaurants to develop distinguished employee service and food and beverage quality and conduct consistent marketing to Koreans and westerners, so that these restaurants can become the food mecca of Korea and the world.

• Journal of Fashion Business
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• v.16 no.6
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• pp.109-126
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• 2012

The purpose of this study was to examine the effect of price-attitude toward apparel products on shopping values and consumption behavior. The study was carried out in Deagu and Kyungbook area. Applying the convenience sampling, total 326 questionnaire were collected from university students who were randomly selected as participants. This study used frequency, factor analysis, reliability analysis, regression analysis, and t-test for data analysis. The finding are as follows. Price-attitude toward apparel products was categorized into information leading, price dignity, price discount, list price orientation, quality value and using coupons. Shopping tendency factors were found as pursuit of pleasure, pursuit of sociality, and pursuit of economic feasibility. Consumption behavior factors were categorized into impulsive buying, ostentatious consumption, utilization of internet information, possession of material and brand trust. Price-attitude toward apparel products had a significant effect on shopping values and consumption behavior. University students seemed to consider the value of money to be very important as well as economic feasibility. They utilized information from the internet to buy products with good quality and showed high usage level of coupons. And, university students who buy at a least price tried to show dignity with expensive brand products and they consider those brands express self-confidence.

• Culinary science and hospitality research
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• v.22 no.1
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• pp.61-69
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• 2016

Little is known regarding the impacts of product quality and branding on perceived price and purchase intention in international cafes, Selangor, Malaysia. This study tested the relationships among product quality, branding, perceived price, and purchase intention within the context of international cafes. A total of 301 customers at 6 international cafes in Selangor state in Malaysia completed questionnaires. It was found that product quality and branding positively influence perceived price. In addition, perceived price has a significant impact on purchase intention.

• Journal of Korean Society of Water and Wastewater
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• v.20 no.4
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• pp.527-534
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• 2006

Demand side management(DSM) is the newly raised issues in the water resources management in recent. Many of the policy tools among demand management, the most important measures might be a pricing system. Furthermore, the responses of consumers on the price for water consumption level is the key factor for policy making. Here, we estimated panel data for 167 regions and over 7 years periods in Korea. Compare to other previous studies the price elasticities were somewhat low. The estimated price elasticity was -0.05. It was because the short term estimated period may derive lower elasticities. However, it might be a recent trend after the continuous increment of water pricing and consumers not willing to decrease their residential water consumption with increasing water pricing. According to this results, water saving effect might be much smaller than we expect with pricing policy. However, It does not imply there is no price effects on water consumption and it's still meaningful as a tool of water management.

• ETRI Journal
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• v.6 no.4
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• pp.9-20
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• 1984

Communications is becoming a vital sector to lead Information Society in the nearfuture. In that sense the price system of its services is now being discussed seriously among the people who are directly and indirectly related to communications development. Input-Output analysis model developed by W. Leontief in early 1930's is a very useful tool to measure the price linkage effects in the national economy, which would be induced from the shift of a certain sector's price. 1980's I-0 table with 19 sectors is rear-ranged and applied to price analysis model, in which communications is treated as a exogenous sector, to see the price impacts generated from a change of telephone rate. With the results of this study, the authorities concerned with price policy can make their decisions more reasonable.

• Environmental and Resource Economics Review
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• v.11 no.2
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• pp.261-278
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• 2002

Based on the hedonic pricing method, this paper investigates the effect of air quality on the apartment price in Seoul. The empirical results show that both the structural variables such as years of construction, heating system, and size of apartment complex and accessability variables such as distances to subway station and parks provide statistically significant effects on the price of apartment, Especially, the dendity of sulfurous acid gas ($SO_2$) and ozone ($O_3$) in the air, indicating air quality, negatively affect the price of apartment, This implies that as the condition of air quality to become worse, apartment price decreases, Therefore, when the degree of aversion of apartment residents against the air pollution affects the formation of apartment's market price, the MWPT(Marginal Willingness to Pay) in order to improve the air quality 10% has been estimated as 36,000~39,000Won per month.

• Journal of Korean Society of Water and Wastewater
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• v.29 no.2
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• pp.171-182
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• 2015

The economic effects of sewage and wastewater treatment service (SWTS) sector on other sectors have been rarely investigated in the literature. This paper attempts to apply an inter-industry analysis to looking into the economic effects of the SWTS sector. To this end, the most recently published 2012 input-output table is used here. In particular, the SWTS sector is specified as exogeneous to identify the economic effects of the SWTS sector on other sectors. Production-inducing effect, value-added creation effect, and employment-inducing effect are quantified based on demand-driven model. Supply shortage effect and price pervasive effect are also analyzed employing supply-driven model and Leontief price model, respectively. The results show that production-inducing effect and value-added creation effect of a unit of investment or production in SWTS sector are estimated to be 1.7076 and 0.7392, respectively. The employment-inducing effect of one billion of investment or production in the SWTS sector is computed to be 11.0498 persons. The shortage effect of the SWTS sector amounts to 0.8417 won. The overall price effect of the 10% increase in the price of SWTS sector is calculated to be 0.0115%. This quantitative information can be utilized in predicting the economic effects of the SWTS sector-related activities or policy-making.

• The Journal of Fisheries Business Administration
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• v.40 no.2
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• pp.49-70
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• 2009

This study proviedes GARCH model(Bollerslev, 1986) to analyze the structural characteristics of price volatility in domestic aquacultural fish market of Korea. As a case study, flatfish and rock-fish are analyzed as major species with relatively high portion in an aspect of production volume among fish captured in Korea. For analyzing, this study uses daily market data (dating from Jan 1 2000 to June 30, 2008) published by the Noryangjin Fisheries Wholesale Market which is located in Seoul of Korea. This study performs normality test on trading volume and price volatility of flatfish and rock-fish as an advanced empirical approach. The normality test adopted is Jarque-Bera test statistic. As a result, first, a null hypothesis that "an empirical distribution follows normal distribution" was rejected in both fishes. The distribution of daily market data of them were not only biased toward positive(+) direction in terms of kurtosis and skewness, but also characterized by leptokurtic distribution with long right tail. Secondly, serial correlations were found in data on market trading volume and price volatility of two species during very long period. Thirdly, the results of unit root test and ARCH-LM test showed that all data of time series were very stationary and demonstrated effects of ARCH. These statistical characteristics can be explained as a reasonable ground for supporting the fitness of GARCH model in order to estimate conditional variances that reveal price volatility in empirical analysis. From empirical data analysis above, this study drew the following conclusions. First of all, from an empirical analysis on potential effects of seasonality and the day of week on price volatility of aquacultural fish, Monday effects were found in both species and Thursday and Friday effects were also found in flatfish. This indicates that Monday is effective in expanding price volatility of aquacultural fish market and also Monday has higher effects upon the price volatility of fish than other days of week have since it has more new information for weekend. Secondly, the empirical analysis led to a common conclusion that there was very high price volatility of flatfish and rock-fish. This points out that the persistency parameter($\lambda$), an index of possibility for current volatility to sustain similarly in the future, was higher than 0.8-equivalently nearly to 1-in both flatfish and rock-fish, which presents volatility clustering. Also, this study estimated and compared and model that hypothesized normal distributions in order to determine fitness of respective models. As a result, the fitness of GARCH(1, 1)-t model was better than model where the distribution of error term was hypothesized through-distribution due to characteristics of fat-tailed distribution, was also better than model, as described in the results of basic statistic analysis. In conclusion, this study has an important mean in that it was introduced firstly in Korea to investigate in price volatility of Korean aquacultural fishery products, although there was partially a limited of official statistic data. Therefore, it is expected that the results of this study will be useful as a reference material for making and assessing governmental policies. Also, it is looked forward that the results will be helpful to build a fishery business plan as and aspect of producer, and also to take timely measures to potential price fluctuations of fishery products in market. Hence, it is advisable that further studies related to such price volatility in fishery market will extend and evolve into a wider variety of articles and issues in near future.

• KDI Journal of Economic Policy
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• v.25 no.2
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• pp.137-170
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• 2003

Despite the great success of the derivatives market, several concerns were expressed regarding the additional volatilitystemming from program trading during the expiration of derivatives. This paper examines the impact of the expiration of the KOSPI 200 index derivatives on cash market of Korea Stock Exchange(KSE). The KOSPI 200 index derivatives market has a unique settlement price determination process. The settlement price for the expiration of derivatives is determined by call auction during the last 10 minutes after the trades for matured derivatives are finalized. We analyze typical expiration day effects such as price, volatility, and volume effects. With high frequency data, we find that there are strong expiration day effects in the KSE and try to interpret the results with the unique settlement procedures of the KOSPI 200 cash and derivatives markets.