• Korean journal of food and cookery science
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• v.33 no.2
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• pp.228-236
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• 2017

Purpose: This study investigated beef restaurant's selection attributes using conjoint analysis in order to provide useful information to marketers and managers. Methods: A total of 320 questionnaires were distributed to consumers who visited a beef restaurant in August 2016, and 284 were completed (96.90%). Statistical analyses of data were performed using SPSS/Windows 22.0 for descriptive statistics and conjoint analysis. Results: The results of this study demonstrate the relative importance and level of each attribute for selecting beef restaurants. Price showed the greatest importance (34.86%), followed by origin of beef (27.52%), level of support services (25.72%), and variety of side dishes (11.90%). The optimum attribute combination was various side dishes (0.059), Korean beef (0.385), Very high service level (-0.291), and price of 8,000 won (-0.782). The most preferred beef restaurant gained 37.60% potential market share from choice simulation. There were significant differences in importance of attributes related to age of respondents. For respondents in their 20s and older than 50s, the first consideration was price. Respondents in their 30s considered the level of support services first while those in their 40s considered origin of beef first. Importance of attributes based on companion of respondents revealed that all respondents considered price first. Conclusion: This study contributes to development of marketing plans based on a customer's involvement level focusing on their primary selection criteria when choosing a beef restaurant. Additionally, marketers who manage beef restaurants can estimate the market share of imaginary beef restaurants from these results.

• Journal of Korean Society for Quality Management
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• v.47 no.4
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• pp.687-700
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• 2019

Purpose: The purpose of this study is to investigate the interaction effects between price determinants of artworks. We expand the methodology in art market by applying machine learning techniques to estimate the price of artworks and compare linear regression and machine learning in terms of prediction accuracy. Methods: Moderated regression analysis was performed to verify the interaction effects of artistic characteristics on price. The moderating effects were studied by confirming the significance level of the interaction terms of the derived regression equation. In order to derive price estimation model, we use multiple linear regression analysis, which is a parametric statistical technique, and k-nearest neighbor (kNN) regression, which is a nonparametric statistical technique in machine learning methods. Results: Mostly, the influences of the price determinants of art are different according to the auction types and the artist 's reputation. However, the auction type did not control the influence of the genre of the work on the price. As a result of the analysis, the kNN regression was superior to the linear regression analysis based on the prediction accuracy. Conclusion: It provides a theoretical basis for the complexity that exists between pricing determinant factors of artworks. In addition, the nonparametric models and machine learning techniques as well as existing parameter models are implemented to estimate the artworks' price.

• 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.

• Review of Culture and Economy
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• v.21 no.1
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• pp.85-104
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• 2018

The studies related to the price of artworks have focused on how factors that are determined on production level, such as artists and the artwork materials of the studies, affect the artwork prices. As 'Dansekhwa' is in the spotlight within local Korean art auction matket, this study would like to analyze the trend of the price changes of 'Dansekhwa' with its growing popularity among the public. We have estimated the price changes based on 4,199 auction data of 20 artists with top 20 auction prices selected by the Korean Art Price Appraisal Association, between 2005 and 2016. Also, in order to compare and analyze the price changes of the 'Dansekhwa' products, we have classified the 20 artists into groups of Dansekhwa and non-Dansekhwa. Starting from 2013, when Dansekhwa has first appeared, we applied the Difference in the Difference model(DiD) to estimate the result. As a result, the difference between two groups showed 71% of price difference due to the increase in popularity of Dansekhwa. This result proves that recognition level has an important role for increase in price of an artwork. Moreover, the fact that the formalized style of Dansekhwa has linked to the appreciation of the price means that production of information could play an essential role in growth of art market. As recognition level of Korean artists and their artworks is considerably low within the local art market, putting in the effort to increase the popularity of artworks among the public might be a helpful way to magnify the potential demand.

• Journal of the Korean Statistical Society
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• v.3 no.1
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• pp.17-30
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• 1974

There are a number of studies on the peculiarities of inflation in underdeveloped economies. These studies are, however, confined to the cases of Latin American countries, and the essence of methodologies applied in the studies is basically estimations of linear parameters of an extended quantity equation with lagged variables. As it is generally observed, inflation in most of underdeveloped economies are, to some extent, affected by non-economic factors such as political instability, social disorder, abrupt institutional changes, etc. Sometimes, these factors underlying the basic movement of price level change are reflected in such variables as quantity of money supply, income velocity, gross national product.

• Journal of Family Resource Management and Policy Review
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• v.9 no.2
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• pp.77-92
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• 2005

This study examined the differences on the amount of purchase of and willingness-to-pay more for organic products by socio-economic variables, knowledge and reliability of organic products, and concern for food. In addition the effects of the reliability and the price of organic products on the amount of purchase and willingness-to-pay more for organic products in the Path analysis. The results were below. First, consumers who had high education, were the age of 40's, high income, high level of knowledge and reliability for organic products were more likely to purchase organic products. Second, the level of willingness-to-pay more for organic Products were high when consumers with more than three children, not lowest level of health, and higher reliability. Third, the reliability of organic products impact the amount of purchase of organic products, but not the perception of organic products' price. Forth, both the reliability and the perception of those price impact the level of willingness-to-pay more for organic products.

• Journal of Korea Multimedia Society
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• v.14 no.9
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• pp.1152-1164
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• 2011

Stock price is stream data to change continuously. The characteristics of these data, stock trends according to flow of time intervals may differ. therefore, stock price should be continuously prediction when the price is updated. In this paper, we propose the new prediction system that continuously predicts the stock price according to the predefined time intervals for the selected stock item using HTM model. We first present a preprocessor which normalizes the stock data and passes its result to the stream sensor. We next present a stream sensor which efficiently processes the continuous input. In addition, we devise a storage node which stores the prediction results for each level and passes it to next upper level and present the HTM network for prediction using these nodes. We show experimented our system using the actual stock price and shows its performance.

• Journal of Distribution Science
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• v.22 no.4
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• pp.11-22
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• 2024

Purpose: This research delves into the various factors that influence the performance of restaurant businesses on social commerce platforms in Bangkok, Thailand. The study considers both internal and external factors, including but not limited to business characteristics and location. Moreover, this research also analyzes the effects of employing multiple social commerce platforms on business efficiency and explores the underlying reasons for such effects. Research design, data, and methodology: Restaurants can be classified into different price ranges: low, medium, and high. To further investigate, we employed natural language processing AI to analyze online reviews and evaluate algorithm performance using machine learning techniques. We aimed to develop a model to gauge customer satisfaction with restaurants across different price categories effectively. Results: According to the research findings, several factors significantly impact restaurant groups in the low and mid-price ranges. Among these factors are population density and the number of seats at the restaurant. On the other hand, in the mid-and high-price ranges, the price levels of the food and drinks offered by the restaurant play a crucial role in determining customer satisfaction. Furthermore, the correlation between different social commerce platforms can significantly affect the business performance of high-price range restaurant groups. Finally, the level of online review sentiment has been found to influence customer decision-making across all restaurant types significantly. Conclusions: The study emphasizes that restaurants' characteristics based on their price level differ significantly, and social commerce platforms have the potential to affect one another. It is worth noting that the sentiment expressed in online reviews has a more significant impact on customer decision-making than any other factor, regardless of the type of restaurant in question.

• Journal of Families and Better Life
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• v.27 no.3
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• pp.213-224
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• 2009

This research aims to analyze and compare the objective and subjective evaluation criteria for home appliances. In addition, this research examined the correlation between those evaluation criteria. Furthermore, consumers are divided by the level of the differences between those criteria; consumer groups whose subjective evaluation level for the quality of home appliances is greater than objective evaluation level, consumer groups whose subjective evaluation level is almost the same, and consumer groups whose subjective evaluation level for the quality of home appliances is lower than objective evaluation level, and this study investigated the differences those three groups by the socio-demographic characteristics and consumers' behavior in the stage of purchase. Results of this research could be summarized as follows. First of all, there were statistically significant between the level of the objective and subjective evaluation in the quality of home appliances. Second, when consumers purchased the expensive home appliance, imported-brand home appliance, home appliances in department store, the level of subjective evaluation level for the quality of home appliances is higher than objective evaluation level. Third, the level of satisfaction for the price, quality, AS, overall satisfaction, and the level of willingness to repurchase were higher in consumer groups whose subjective evaluation level was higher than objective evaluation level.

• Journal of Industrial Convergence
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• v.22 no.6
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• pp.13-23
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• 2024

In this study, the optimal level of CER issuance price in the energy industry was estimated using a real options considering the uncertainty of emission price. As a result of the analysis, the break-even point for CDM projects in the energy industry registered by UNFCCC from December 2012 to the end of 2021 was 0.64-36.69 euros per ton of CO2 for each individual project. More closely, the emission permit price that reaches the break-even point when NPVw/o CER+ NPVCER ≥ 0 is estimated to be 12.10 euros on average, and the emission permit price that reaches the break-even point when NPVw/o CER + NPVCER ≥ option value is estimated to be 12.63 euros on average. Meanwhile, the option value using real options to reduce business uncertainty is about 19% at the 1-5 euro per ton level, about 11% at the 5-10 euro per ton level, and about 5% at the 10-15 euro per ton level. It was analyzed that there was an effect of increasing emissions prices due to uncertainty reduction. The results of this study may be useful to greenhouse gas reduction project entities, including investors, project operators, and companies with potential mandatory reductions.