• 산경연구논집
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• 제7권3호
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• pp.27-36
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• 2016

Purpose - Considering the importance of housing needs to real estate market, domestic studies on real estate prices from the perspective of demand are basically based on macro-data, but relatively few are associated with micro-data of urban real estate demand. We try to find a reliable relation of elasticity of demand and commercial housing market. Research design, data, and methodology - In this paper, we have derived housing demand theoretic method and have utilized micro-data of residential family housing survey of downtown area in Kunming City in October, 2015 to estimate income elasticity and price elasticity of housing demand respectively and make a comparative analysis. Results - The results indicate that income elasticity and price elasticity of families with owner-occupied housing are both larger than those of families with rental housing. Income elasticity of housing demand of urban residential families in Kunming is far below the foreign average and eastern coastal cities level, however, the corresponding price elasticity is far higher. Conclusions - We suggest that housing affordability of urban families in western China are constrained by the level of economic development, and the current housing price level has exceeded the economic affordability and psychological expectation of ordinary residents. Furthermore, noticing the great rigidity of housing demand, the expansion space of housing market for improvement and for commodity is limited.

• 한국수자원학회논문집
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• 제40권11호
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• pp.869-876
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• 2007

본 연구는 수자원정책의 효율성 제고를 위한 판단 자료 제공을 목적으로 업종별 공업용수의 한계생산가치 및 공업용수의 가격탄력성을 추정하였다. 두 가지 형태의 생산함수를 설정하여 추정한 공업용수의 한계가치 및 가격탄력성을 추정 결과를 보면 공업용수의 한계가치는 산업별로 차이가 있으나 공업용수의 평균 가격에 비하여 매우 큰 것으로 추정되었으며 가격탄력성 추정결과는 가격 현실화 정책 효과가 있음을 보여주고 있다.

• 대한전기학회논문지
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• 제41권9호
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• pp.994-1002
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• 1992

With regard to price elasticity and cross elasticity of electricity, optimal generation expansion planning method including load management effect is suggested. In addition, optimal peak time price can be determined simultaneously, and we adopt peak time tariff as load management strategy. Instead of using hourly marginal demand curves where we can get customer surplus, we used chronological load curve with constraints to preserve social welfare. This method is proved useful in short-term generation expansion planning.

• 대한가정학회지
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• 제40권7호
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• pp.101-118
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• 2002

This study examined the levels and trends in the household expenditure in both public and private education. Between 1982 and 2000, the level of the total educational expenditure increased by 5% in each year on average, increased by 2.2% for public education, and by 11.4% for private education. On the public educational expenditure, the consumption expenditure elasticity was 0.2 and the price elasticity was 1.49. On the private educational expenditure, the consumption expenditure elasticity was 1.5 and became below 1 after 1998, and the price elasticity was 2.63. The results indicated that the educational expenditure was necessary rather than luxurious and there was excess demand for private education. The level of the educational expenditure would continue to increase without reforms both in the supply and demand sides.

• East Asian mathematical journal
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• 제34권3호
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• pp.239-248
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• 2018

In this paper, we derive a closed-form formula of a second-order approximation for a European corrected option price under stochastic elasticity of variance model mentioned in Kim et al. (2014) [1] [J.-H. Kim, J Lee, S.-P. Zhu, S.-H. Yu, A multiscale correction to the Black-Scholes formula, Appl. Stoch. Model. Bus. 30 (2014)]. To find the explicit-form correction to the option price, we use Mellin transform approaches.

• 대한교통학회지
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• 제22권2호
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• pp.7-18
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• 2004

본 논문은 현재 물류부문에서 그 비중이 증가하고 있는 택배시장의 고객을 대상으로 고객의 선호도에 따른 적절한 시장세분화의 구축과 그 필요성을 제시하였다. 본 연구에서는 택배서비스의 가격탄력성을 측정하기 위해 Conjoint 분석을 이용한 효익세분화 방법을 이용하였다. 분석결과 택배고객은 그 특성에 따라 상이한 가격탄력성을 가지고 있으며, 그 탄력성에 따라 고객을 세분화할 수 있었다. 따라서 이러한 분석은 향후 택배고객을 세분화 할 경우 유용한 도구로 사용될 수 있으며, 고객의 욕구를 만족시킬 수 있는 기회를 제공해 줄 수 있을 것이다.

• 대한전기학회:학술대회논문집
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• 대한전기학회 2000년도 하계학술대회 논문집 A
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• pp.379-381
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• 2000

In the new electric industry, many of generators and consumers exist in competitive market and electric price is determined by the response of suppliers and consumers. Power supply and consumption make change the electric price and social welfare depends on the elasticity that indicates sensitivity to changes of price related on the electric demand or supply. If elasticity is changed, social welfare that represents the sum of producers and customers surplus will be changed together. This paper investigates the change of the social welfare depending on the elasticity, and presents the propriety of competitive electric market.

• 한국인구학
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• 제25권2호
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• pp.271-291
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• 2002

도시가구의 원시자료를 활용하여 가구의 인구학적 특성을 감안한 수요체계의 추정을 통한 수요탄력성을 산출한 결과 주류소비의 총지출 탄력성은 0.71 정도로 비교적 필수적인 지출항목으로 판명되었다. 한편 가격탄력성은 기간중 평균 1.93으로 주류소비는 가격에 매우 탄력적이며 그 추세는 최근에 들어 보다 더욱 탄력적으로 변하는 경향이 확인되었다.

• Journal of the Korean Society for Industrial and Applied Mathematics
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• 제20권2호
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• pp.123-135
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• 2016

This article deals with the pricing of Asian options under a constant elasticity of variance (CEV) model as well as a stochastic elasticity of variance (SEV) model. The CEV and SEV models are underlying asset price models proposed to overcome shortcomings of the constant volatility model. In particular, the SEV model is attractive because it can characterize the feature of volatility in risky situation such as the global financial crisis both quantitatively and qualitatively. We use an asymptotic expansion method to approximate the no-arbitrage price of an arithmetic average Asian option under both CEV and SEV models. Subsequently, the zero and non-zero constant leverage effects as well as stochastic leverage effects are compared with each other. Lastly, we investigate the SEV correction effects to the CEV model for the price of Asian options.

• Journal of Preventive Medicine and Public Health
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• 제40권5호
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• pp.371-380
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• 2007

Objectives: To determine the impact of cigarette prices on the decision to initiate and quit smoking by taking into account the interdependence of smoking and other behavioral risk factors. Methods: The study population consisted of 3,000 male Koreans aged ${\ge}20$. A survey by telephone interview was undertaken to collect information on cigarette price, smoking and other behavioral risk factors. A two-part model was used to examine separately the effect of price on the decision to be a smoker, and on the amount of cigarettes smoked. Results: The overall price elasticity of cigarettes was estimated at -0.66, with a price elasticity of -0.02 for smoking participation and -0.64 for the amount of cigarettes consumed by smokers. The inclusion of other behavioral risk factors reduced the estimated price elasticity for smoking participation substantially, but had no effect on the conditional price elasticity for the quantity of cigarettes smoked. Conclusions: From the public health and financial perspectives, an increase in cigarette price would significantly reduce smoking prevalence as well as cigarette consumption by smokers in Korea.