• The Journal of Fisheries Business Administration
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• v.26 no.2
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• pp.75-92
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• 1995

This paper tried to estimate the pass - through of exchange rate changes to export price of fishery products using export price function. The results are as follows : 1) The variable of fluctuation of exchange rate of Won(equation omitted) to Yen(equation omitted)(variable E2) is more powerful explanatory variable than that of Won to U.S. dollar to explain the fluctiation of export price of fishery products(varible $P_{t}$)- 2) The variable of fish catches(variable K $P_{t}$) is also found to be a statistically significant varible but that of producer price index is not found. 3) The variable E2 have statistically a more influence on variable $P_{t}$ than variable K $P_{t.}$ 4) The estimation shows us that 1% of fluctuation of variable E2 could result in 0.9978% of fluctuation of variable $P_{t.}$

• East Asian Economic Review
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• v.20 no.4
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• pp.427-445
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• 2016

We review research using departures from the law of one price to measure the advent of globalization in Europe and Asia. In an application, we then study the role of distance and time in statistically explaining price dispersion across 32 Swedish towns for 19 commodities from 1732 to 1914. The resulting large number of relative prices (502,689) allows precise estimation of distance and time effects, and their interaction. We find an effect of distance that declines significantly over time, beginning in the 18th century, well before the arrival of canals, the telegraph, or the railway.

• Environmental and Resource Economics Review
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• v.31 no.2
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• pp.261-290
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• 2022

Although market stabilization measures have been triggered in the K-ETS, carbon price is still under uncertainty. Considering Korea's 2030 enhanced reduction target announced in October 2021, it is crucial to have practical stabilization measures to appropriately deal with price uncertainty. This study examines the quantitative effects of a price collar, which is considered as a means of alleviating price uncertainty, on expected cumulative emissions and abatement costs. There are three main scenarios: carbon tax, emissions trading system, and emissions trading system with a price collar. Monte Carlo simulation was conducted to reflect uncertainty in emission. There are several results as follows: 1) In a price collar, domestic emission target is likely to be achieved with a lower expected abatement cost than other scenarios. In addition, there is a small amount of excess emissions in this research and it would be not critical(0.1% excess than target); 2) Prohibiting banking increases the expected abatement cost. This is because firms can not intertemporally reallocate allowances to match the firm's optimal emissions path; 3) With the adoption of a price collar, government's net revenue can be positive even if the government's purchase volume of emissions allowances is more than sales volume. This is because the government sells them at price ceiling and purchases them at price floor.

• International Journal of Advanced Culture Technology
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• v.8 no.1
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• pp.62-70
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• 2020

As an effective means of price discrimination, some suppliers offer trade credit to the distributors in order to stimulate the demand for the product they produce. The availability of the delay in payments from the supplier enables discount of the distributor's selling price from a wider range of the price option in anticipation of increased customer's demand. Since the distributor's lot-size is affected by the demand for the customer, the distributor's lot-size and the selling price determination problem is interdependent and must be solved at the same time. Also, in many common business transactions, the distributor pays the shipping cost for the order and hence, the distributor's ordering cost consists of a fixed ordering cost and the shipping cost that depend on the order quantity. In this regard, we deal with the joint lot-size and price determination problem when the supplier allows delay in payments for an order of a product. The positive effects of credit transactions can be integrated into the EOQ (economic order quantity) model through the consideration of retailing situations, where the customer's demand is a function of the distributor's selling price. It is also assumed that the distributor's order cost consists of a fixed ordering cost and the variable shipping cost. We formulate the distributor's mathematical model from which the solution algorithm is derived based on properties of an optimal solution. A numerical example is presented to illustrate the algorithm developed.

• Asia pacific journal of information systems
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• v.20 no.3
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• pp.33-49
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• 2010

We empirically examine the impact of online auction knowledge and category-specific knowledge on the final price of online auctions. Specifically, we question how the relationship between buying and selling experiences affects the final prices of online auctions. Related to the trust between buyers and sellers, we examine the multiple interactions between a buyer-seller pairand aim to identify how these repeated transactions influence the final price. To contrast these effects with other product related factors, we focus on so called 'common value' auctions of vintage stamps on eBay, in which the ex-post value of the product is the same among participating agents’ perceived value. Online auction of stamps provides a representative setting to examine the relationship between market experience and the auction participation behavior in the common value auction, as it provides the book value of stamp as well as price variation across individual buyers with different expertise levels. Our analysis of over 3000 stamps auctions on eBay indicates a significantly high frequency of buyer-seller (pair) interactions, thus suggesting a 'relationship view' of auctions. The work validates five hypotheses derived from the existing theory in economics, marketing, and information systems. Through the common-value auction data, we find that seller's online auction experience and category-specific experience favor sellers by increasing the final price. However, buyer's online auction experience does not affect the final price, but buyer's category-specific experience favors buyers by decreasing the final price. We find that the trust between two trading parties increases the final price.

• Journal of Digital Convergence
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• v.14 no.6
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• pp.157-165
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• 2016

The purpose of this study was to analyze the effect of the shipping industry real economy index on the stock prices of domestic shipping companies. The parameters used in this analysis were the stock price of H Company in South Korea and shipping industry real economy indices including BDI, CCFI and HRCI. The period analysis was from 2012 to 2015. The weekly data for four years of the stock price index of shipping companies, BDI, CCFI, and HRCI were used. The effects of CCFI and HRCI on the stock price index of domestic shipping companies were analyzed using the VAR model, and the effects of BDI on the stock price index of domestic shipping companies were analyzed using the VECM model. The VAR model analysis results showed that CCFI and HRCI had negative effects on the stock price index, and the VECM model analysis results showed that BDI also had a negative effect on the stock price index.

• Journal of the Korean Society of Food Culture
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• v.25 no.5
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• pp.544-557
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• 2010

This study was performed with Korean adults to investigate Makgeolli drinking behavior, preference, and perception about Makgeolli and health, as well as Makgeolli complaints and prices. A survey questionnaire was formulated to obtain information on demographic variables, drinking habits, and perceptions about Makgeolli's function, price, and complaints. The questionnaire was distributed to 468 adults living in the capital area. The results are as follows. Makgeolli (16.1%) was third preferred, following Soju (45.1%) and beer (30.7%), and no significant differences were observed by gender and income, but the preference for Makgeolli increased with increasing age (p<0.001). According to the survey, the largest reason both genders drank Makgeolli was that it tastes good. Men preferred Makgeolli for its health effects and cheap price, while women preferred it for the atmosphere while drinking it. Also, older people and those with higher incomes preferred drinking Makgeolli for its health effect rather than its good taste (p<0.001 for each). No significant difference was observed by gender for the question "Do you think that Makgeolli has a health-promoting effect?" Overall, 51% of the subjects gave positive answers and only 5.9% gave negative answers. Significantly, older people and those with a higher income had a higher rate of answering positively to this question. Belching (45.1%) and headache (29.9%) were the most common symptoms among the side effects of drinking Makgeolli. No significant difference was observed by gender or income, but older people had a higher rate of belching and fewer headaches than younger people (p<0.001). Women had a significantly higher rate of perceiving that Makgeolli was cheap than men. Age and income differences did not influence price perception. To the question "What is the ideal price for high quality Makgeolli", 32.1% answered that the present rate (1,000 won) was ideal, and 59.4% answered that a price between 1,000 and 2,000 won was ideal. These results indicate that the high preference for Makgeolli is due to its good taste and health effects. However, belching and headache caused by drinking Makgeolli were the most common complaints and, thus, must be solved. Some opinions indicated that Makgeolli must eliminate its low-quality image, but, according to this survey, most subjects answered that the ideal price of higher-quality Makgeolli should be increased slightly, which would cause price resistance.

• The Journal of Fisheries Business Administration
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• v.28 no.2
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• pp.87-105
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• 1997

The objective of this study is to analyze the effects of the oyster seed selection on profitability of the oyster aquaculture business The results of the analysis are as follows ; 1) The comparison of profitability among four different oyster seed applied to the four different scale : 1ha, 3ha, 5ha, and 10ha. The results of the comparison show that, for all scale, the artificial oyster seed is more profitable than the natural oyster seed or the natural oyster seed imported from Japan. 2) There are four important determinant variables of profitability to aquaculture business. In the order of their effect, it is oyster price, quantity of production, labor cost, and seed price. 3) If differences of price between the artificial hardening oyster seed and the natural hardening oyster seed are more less 1,430 won, the former is better. 4) The effect of increasing income of fishermen are estimated about 58.5 billion won or 102 billion won from the artificial oyster seed on the oyster aquaculture.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 2005.05a
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• pp.798-805
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• 2005

Estimating the effects of price increase on a company's sales is important task faced by managers. If consumer has prior information on price increase or expect it, there would be stockpiling and subsequent drops in sales. In addition, consumer can suppress demand in the short run. Above factors make the sales dynamic and unstable. We develop a time series model to evaluate the sales patterns with stockpiling and short term suppression of demand and also propose a forecasting procedure. For estimation, we use panel data and extend the model to Bayesian hierarchical structure. By borrowing strength across cross-sectional units, this estimation scheme gives more robust and reasonable result than one from the individual estimation. Furthermore, the proposed scheme yields improved predictive power in the forecasting of hold-out sample periods.

• The Journal of Economics, Marketing and Management
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• v.11 no.4
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• pp.77-87
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• 2023

Purpose: In a business, it is very important to be able to pay attention to consumers. When making a purchase, consumers will first evaluate until they make a purchase decision. This study was conducted to analyze the effects of price, promotion, and product quality on consumer purchasing decisions on poultry feed. Research design, data, and methodology: The research was conducted quantitatively using the Google Form Survey instrument to collect respondent data. The population of this research is poultry feed consumers in Indonesia. Ninety-two respondents participated in this study. Results: The findings revealed that all the independent variables used in this research contribute significantly to determining customer purchase decisions. Conclusions: The results of the study found that price, promotion, and product quality had positive and significant effects on consumer purchasing decisions for poultry products