• Korean Journal of Mathematics
• /
• 제16권2호
• /
• pp.233-242
• /
• 2008

We deal with the closed forms of European option pricing for the general class of volatility asset model and the jump-type volatility asset model by several methods.

• 벤처창업연구
• /
• 제11권2호
• /
• pp.157-165
• /
• 2016

이 논문은 미시(微視)기반레벨에서 (at Micro-Foundations level) PBR(등급에 의한 가격책정)도구를 개발하여 PBR이 어느 상황에서든 가격책정(Pricing)의 기준과 비즈니스모델평가에 대한 일반적인 기준으로 사용될 수 있음을 주장하고 있다. 본 논문은 우선 구매력과 지불/구매의향 (Willingness to Pay/Purchase: WTP)을 동시에 지니고 있는 현시니즈(Explicit Needs)로부터 WTP모델을 유도하여 WTP수준과 WTS(willingness to supply/sell: 공급/판매의향) 수준간의 간격에 대한 서열척도(ordinal scale)를 취하여 PBR방법을 개발하였다. 구체적으로 고객이 기대하는 이상적 마케팅믹스인 최선의 SPEC (Solution, Price Indicator by WTP, Encouragement, Channel)과 기업이 제공하는 실제 마케팅믹스 (Marketing Mix) 4P에 대하여 우선 각 구성요소 마다마다를 상호 개별적으로 비교할 뿐만 아니라 전체를 하나로 인식하여 상호 비교함으로써 PBR방법을 개발한 후 이를 적용한 몇 가지 예시를 통해서 PBR방법이 실제로 비즈니스모델을 평가하는데 사용될 수 있음을 보여 준다. 결론적으로 본 논문은 어떤 상황에서든 PBR이 가격책정과 비즈니스모델의 평가도구로서 유용하게 사용될 수 있다고 주장한다.

• 대한교통학회지
• /
• 제25권5호
• /
• pp.183-193
• /
• 2007

전통적으로 혼잡통행료는 교통시설의 한계사회비용과 한계개인비용의 차이를 혼잡통행료로 부과함으로써 사용자 균형(user equilibrium)상태의 도로망을 체계최적(system optimum)으로 유도하는 한계비용가격(marginal cost pricing) 또는 최적혼잡통행료(first-optimal pricing)이론에 근거를 두고 있다. 이러한 이론을 기초로 본 연구에서는 가변수요를 갖는 다계층 도로이용자를 대상으로 링크 최적혼잡통행료의 이론적 특성을 살펴보고 혼잡통행료 징수에 따른 계층간 그리고 지역간 형평성을 분석하기 위한 방법론을 연구한다. 여기서, 도로이용자가 경험하는 경로통행비용은 시간요소(통행시간)와 화폐요소(혼잡통행료)의 2가지 판단기준으로 구성되고 시간가치에 의해 하나의 단위로 전환(trade off)이 가능하다. 경로 통행비용이 시간단위로 환산될 경우, 최적혼잡통행료는 시간단위 체계최적 조건으로부터 도출될 수 있고 경로통행비용이 화폐단위로 환산될 경우, 최적혼잡통행료는 화폐단위 체계최적 조건으로부터 도출될 수 있다. 따라서 본 연구에서는 이러한 체계최적 조건으로부터 도출된 최적혼잡통행료를 산정하는 모형을 개발하고 이를 통하여 계층간 형평성을 살펴본다.

• Management Science and Financial Engineering
• /
• 제11권3호
• /
• pp.95-107
• /
• 2005

As online shopping malls have emerged as a substantial shopping channel, they have used various sales promotion strategies to acquire new customers. Most of these strategies have been applied by offline malls for years. One, loss-leader pricing, is a type of promotional pricing in which stores sell well known products below their marginal cost, in order to attract customers and induce them to purchase more goods through impulse buying. This strategy is based on the expectation that customers will factor transaction costs into their purchasing decisions. However, its application to online malls fails to recognize that transaction costs are lower online, and that customers will behave differently as a result. Our study predicts that loss-leader pricing will not work online because online malls entail lower searching and moving costs than offline malls The study examines the effectiveness of loss-leader pricing with empirical data from a survey as well as log data from a Korean online shopping mall. The results show that while loss-leader pricing does attract customers to online shopping malls, it encourages cherry-picking rather than impulse purchases of regular-price goods.

• 한국통신학회논문지
• /
• 제30권8B호
• /
• pp.562-568
• /
• 2005

본 논문은 방송통신 융합형 음성서비스라는 신규통신서비스가 시장에 등장했을 경우 어떻게 가격을 설정할 것인지에 관한 내용이다. 우선 가격결정방법 및 결정시스템에 대한 기존 문헌조사를 바탕으로 기 연구된 방법론의 문제점을 도출 한 후 "신서비스 시장진입 가격결정을 위한 기업의 가격설정 의사결정모형 제안하고 있다. 이후 본 논문에서 제시하고 있는 모형에 기반하여 신규 서비스인 방송통신 융합형 음성서비스의 초기 시장진입가격 결정하는 일련의 분석과정을 통하여, 논문에서 제시하고 있는 가격결정모형이 실제 기업에서 충분히 활용할 수 있는 현실적인 의사결정시스템 모형이 될 수 있는 타당성을 검증하고자 한다.

• 대한전기학회논문지:전력기술부문A
• /
• 제51권1호
• /
• pp.37-44
• /
• 2002

This Paper suggests reasonable pricing mathod fur Reactive Power in Optimal Power Flow for the system analysis. Under restructuring, not only real power pricing but also reactive power pricing is important for the system analysis and operation. If people just focus on real power pricing, the Generators may no generate reactive power voluntarily, because the Generators may not recover the cost of the reactive power generation. So making a reasonable reactive power pricing is becoming more important than any other time. In this paper, the authors set a Proper Power factor and price the portion of the reactive power that exceeds the power factor using Interior Point Method. By applying this method, the System operator can use this strategy for the analysis of reactive power generation pricing and the Generator can get the motivation to generate reactive power. The author develops fully optimized fast Primal Dual Interior Point Method with sparsity technique and applies this method to Reliability Test System (RTS24) and KEPCO 674 bus system (684 buses. 1279 lines). It shows adaptability and usefulness.

• The Journal of Asian Finance, Economics and Business
• /
• 제8권12호
• /
• pp.183-189
• /
• 2021

Transfer pricing is a matter of concern for countries. It affects the interests of the parties involved in the commercial transaction. Through manipulation of prices in transactions, businesses take advantage of tax rates in a country to adjust profits for economic gain. This affects the fairness and rationality of economic transactions between related parties. The article uses a two-year time series from 2018 to 2019 of 50 foreign direct investment enterprises in Vietnam. The article uses ordinary least squares to test the hypotheses of the research model. The article uses four independent variables related to ownership structure affecting transfer pricing decisions including total ownership, organization ownership, concentration ownership, and area ownership. Research results show that two variables have a positive influence on transfer pricing decisions including total ownership and organization ownership. Organization ownership has a higher degree of influence than total ownership. To be able to control transaction activities related to transfer pricing, Vietnam's state management agencies need to pay attention to perfecting the legal framework based on supplementing and amending regulations related to transfer pricing. Legal regulations need to be regulated based on international common practices to ensure uniformity on a global scale.

• The Journal of Asian Finance, Economics and Business
• /
• 제9권2호
• /
• pp.133-140
• /
• 2022

The impact of State management factors on transfer pricing activities of foreign direct investment enterprises in Vietnam is examined in this study. This adds to the empirical evidence on factors affecting transfer pricing activities of foreign-invested enterprises in Vietnam. A questionnaire survey of officials directly involved in the inspection of transfer pricing activities is used as the research method. The study yielded 226 questionnaires. The author chose 210 questionnaires after deleting those that were ineligible due to a large number of blank cells. The following procedures are used to process the data from the satisfied votes: Cronbach's Alpha test to measure the reliability of the scale; Exploratory factor analysis to break down data into smaller sets of variables to discover the underlying structure; Descriptive analysis to describe the underlying quantitative features of the data; Correlation and regression analysis to evaluate the relationship between variables with the support of SPSS 25 software. Inspection pressure, professional inspector qualifications, and inspector role, State control organization, inspector professionalism, legal corridor on transfer pricing control, macroeconomic situation, and investment environment have a positive impact on state management on transfer price operations, according to research findings. The author has provided solutions to increase the efficiency of State management on transfer pricing operations of foreign-invested businesses in Vietnam based on the research findings.

• Asia Marketing Journal
• /
• 제16권1호
• /
• pp.35-69
• /
• 2014

The impact of competition on pricing has been studied in the context of counterfactual merger analyses where expected optimal prices in a hypothetical monopoly are compared with observed prices in an oligopolistic market. Such analyses would typically assume static decision making by consumers and firms and thus have been applied mostly to data obtained from consumer packed goods such as cereal and soft drinks. However such static modeling approach is not suitable when decision makers are forward looking. When it comes to the markets for durable products with indirect network effects, consumer purchase decisions and firm pricing decisions are inherently dynamic as they take into account future states when making purchase and pricing decisions. Researchers need to take into account the dynamic aspects of decision making both in the consumer side and in the supplier side for such markets. Firms in a two-sided market typically subsidize one side of the market to exploit the indirect network effect. Such pricing behaviors would be more prevalent in competitive markets where firms would try to win over the battle for standard. While such qualitative expectation on the relationship between pricing behaviors and competitive structures could be easily formed, little empirical studies have measured the extent to which the distinct pricing structure in two-sided markets depends on the competitive structure of the market. This paper develops an empirical model to measure the impact of competition on optimal pricing of durable products under indirect network effects. In order to measure the impact of exogenously determined competition among firms on pricing, we compare the equilibrium prices in the observed oligopoly market to those in a hypothetical monopoly market. In computing the equilibrium prices, we account for the forward looking behaviors of consumers and supplier. We first estimate a demand function that accounts for consumers' forward-looking behaviors and indirect network effects. And then, for the supply side, the pricing equation is obtained as an outcome of the Markov Perfect Nash Equilibrium in pricing. In doing so, we utilize numerical dynamic programming techniques. We apply our model to a data set obtained from the U.S. video game console market. The video game console market is considered a prototypical case of two-sided markets in which the platform typically subsidizes one side of market to expand the installed base anticipating larger revenues in the other side of market resulting from the expanded installed base. The data consist of monthly observations of price, hardware unit sales and the number of compatible software titles for Sony PlayStation and Nintendo 64 from September 1996 to August 2002. Sony PlayStation was released to the market a year before Nintendo 64 was launched. We compute the expected equilibrium price path for Nintendo 64 and Playstation for both oligopoly and for monopoly. Our analysis reveals that the price level differs significantly between two competition structures. The merged monopoly is expected to set prices higher by 14.8% for Sony PlayStation and 21.8% for Nintendo 64 on average than the independent firms in an oligopoly would do. And such removal of competition would result in a reduction in consumer value by 43.1%. Higher prices are expected for the hypothetical monopoly because the merged firm does not need to engage in the battle for industry standard. This result is attributed to the distinct property of a two-sided market that competing firms tend to set low prices particularly at the initial period to attract consumers at the introductory stage and to reinforce their own networks and eventually finally to dominate the market.

• Journal of Electrical Engineering and Technology
• /
• 제6권1호
• /
• pp.8-13
• /
• 2011

Reliability differentiated pricing (RDP) is known to improve the efficiency and benefits of consumers and producers. Outage costs representing the economic and non-economic consequences of service curtailments to customers can be used as an effective parameter of RDP in electricity markets. This paper examines the theoretical aspects of an RDP scheme, and derives the optimal decisions of consumers and electric utilities for long-term transactions. The proposed RDP is demonstrated through a case study on a wheeling service.