• Title/Summary/Keyword: probability choice model

Search Result 90, Processing Time 0.042 seconds

A Study on experiential consumption and development of the customized cosmetics on female university students in their 20s -Preliminary Study- (20대 여대생의 맞춤형화장품 체험소비 및 발전방향 연구)

  • Lee, Ha-yeon;Ju, Hyun-young;Kim, Gyu-ri
    • Journal of Digital Convergence
    • /
    • v.18 no.12
    • /
    • pp.595-606
    • /
    • 2020
  • To find out the a Study on experiential consumption and development of the customized cosmetics on female university students in their 20s, this study conducted sampling using probability sampling from cosmetics major students in S City from September 1 to October 30, 2020. In this study, a study model was designed for a total of 30 people and studied as an Experience-Consume Experimentation. First, the result of the pre-purchase survey revealed that skincare cosmetics had the highest percentage for being selected by 30 people for "the preferred cosmetic type per the perception regarding customized cosmetics." Second, the result of the pre-purchase survey revealed that 11 people answered skincare cosmetics, 1 person answered shade cosmetics, and 2 people answered fragrance products (perfume, diffusers, etc.) for "the experience type for customized cosmetics." Third, the result of the post-purchase survey revealed that 29 people are willing to recommend the products, while 1 person is not. For the appropriateness of the price, 23 people answered yes; 7 people answered no. for the characteristics of the experience, 24 people (80%) answered that they selected ingredients according to their skin type; 9 people answered that the price is cheap considering they received 1:1 consultation; 18 people answered that they made a choice per their preferences (skin type) rather than per brands; 3 people answered that their self-esteem is stronger as if they received personal care. Therefore, customized cosmetics are expected to increase the attractiveness and purchase rate of female students in their twenties given that 'Human Touch,' genetic analysis, and 'hyper-customization technology,' which requires new development of customized cosmetics experience consumption for female college students in their 20s.

Limit Pricing by Noncooperative Oligopolists (과점산업(寡占産業)에서의 진입제한가격(進入制限價格))

  • Nam, Il-chong
    • KDI Journal of Economic Policy
    • /
    • v.12 no.1
    • /
    • pp.127-148
    • /
    • 1990
  • A Milgrom-Roberts style signalling model of limit pricing is developed to analyze the possibility and the scope of limit pricing in general, noncooperative oligopolies. The model contains multiple incumbent firms facing a potential entrant and assumes an information asymmetry between incombents and the potential entrant about the market demand. There are two periods in the model. In period 1, n incumbent firms simultaneously and noncooperatively choose quantities. At the end of period 1, the potential entrant observes the market price and makes an entry decision. In period 2, depending on the entry decision of the entrant, n' or (n+1) firms choose quantities again before the game terminates. Since the choice of incumbent firms in period 1 depends on their information about demand, the market price in period 1 conveys information about the market demand. Thus, there is a systematic link between the market price and the profitability of entry. Using Bayes-Nash equilibrium as the solution concept, we find that there exist some demand conditions under which incumbent firms will limit price. In symmetric equilibria, incumbent firms each produce an output that is greater than the Cournot output and induce a price that is below the Cournot price. In doing so, each incumbent firm refrains from maximizing short-run profit and supplies a public good that is entry deterrence. The reason that entry is deterred by such a reduced price is that it conveys information about the demand of the industry that is unfavorable to the entrant. This establishes the possibility of limit pricing by noncooperative oligopolists in a setting that is fully rational, and also generalizes the result of Milgrom and Roberts to general oligopolies, confirming Bain's intuition. Limit pricing by incumbents explained above can be interpreted as a form of credible collusion in which each firm voluntarily deviates from myopic optimization in order to deter entry using their superior information. This type of implicit collusion differs from Folk-theorem type collusions in many ways and suggests that a collusion can be a credible one even in finite games as long as there is information asymmetry. Another important result is that as the number of incumbent firms approaches infinity, or as the industry approaches a competitive one, the probability that limit pricing occurs converges to zero and the probability of entry converges to that under complete information. This limit result confirms the intuition that as the number of agents sharing the same private information increases, the value of the private information decreases, and the probability that the information gets revealed increases. This limit result also supports the conventional belief that there is no entry problem in a competitive market. Considering the fact that limit pricing is generally believed to occur at an early stage of an industry and the fact that many industries in Korea are oligopolies in their infant stages, the theoretical results of this paper suggest that we should pay attention to the possibility of implicit collusion by incumbent firms aimed at deterring new entry using superior information. The long-term loss to the Korean economy from limit pricing can be very large if the industry in question is a part of the world market and the domestic potential entrant whose entry is deterred could .have developed into a competitor in the world market. In this case, the long-term loss to the Korean economy should include the lost opportunity in the world market in addition to the domestic long-run welfare loss.

  • PDF

A study on Air and High Speed Rail modal According to the Introduction of Low Cost Carrier Air Service (저비용항공 진입에 따른 항공과 고속철도수단 선택에 관한 연구)

  • Lim, Sam-Jin;Lim, Kang-Won;Lee, Young-Ihn;Kim, Kyung-Hee
    • Journal of Korean Society of Transportation
    • /
    • v.26 no.4
    • /
    • pp.51-61
    • /
    • 2008
  • Most of Korea's 15 local airports, with the exception Jeju, Gimpo and Gimhae airports, have been several billion Won in the red each year. It has been reported that one of the causes of the poor financial performance is inaccurate air traffic demand predictions. Under the situation, the entry of low-cost carrier air service using turbo-prop airplanes into the domestic airlines market gets a wide range of support, which is expected to promote the convenience of consumers and help to activate local airports. In this study, the authors (1) suggest a high-speed transport demand model among existing airlines, Korea Train Express (KTX) and low-cost carrier air service; (2) try to make low-cost air carrier demand predictions for a route between Seoul and Daegu through a stated-preference survey; and (3), examine possible effectiveness of selected policy measures by establishing an estimation model. First, fare has a strong influence for mode choice between high-speed transport modes when considering the entry of low-cost carrier air service between Seoul and Daegu. Even low-cost carrier air service fare is set at 38,000 won, which is considerably low compared with that of KTX, in the regions where the total travel time is the same for both low-cost carrier air service and KTX, the probability of selecting low-cost carrier air service is 0.1, which shows little possibility of modal change between high speed transportation means. It is suggested that the fare of low-cost air service between Seoul and Daegu should be within the range of from of 38,000 to 44,000 Won; if it is higher, the demand is likely to be lower than expected.

A Funding Source Decision on Corporate Bond - Private Placements vs Public Bond - (기업의 회사채 조달방법 선택에 관한 연구 - 사모사채와 공모사채 발행을 중심으로 -)

  • An, Seung-Cheol;Lee, Sang-Whi;Jang, Seung-Wook
    • The Korean Journal of Financial Management
    • /
    • v.21 no.2
    • /
    • pp.99-123
    • /
    • 2004
  • We focus in this study on incremental financing decisions and estimate a logit model for the probability a firm will choose a private placement over a public bond issue. We hypothesize that information asymmetry, financial risk, agent cost, and proprietary information may affect a firm's choice between public debt and private placements. We find that as the size of firm increases, the probability of choosing a private placement declines significantly. The age of the firm, however, is not a significant factor affecting the firm's choice between public and privately-placed bond. The coefficients on the firm's leverage and non-investment grade dummy are significantly positive, meaning firms with high financial risk and credit risk select private placements. The findings regarding agency-related variables, PER and Tobin's Q, are somewhat complex. We find significant evidence that firms with high PER prefer private placements to public bonds, suggesting that borrowers with options to engage in asset substitution or underinvestment are more likely to choose private placements. The coefficient of Tobin's Q is negative, but not significant, which weakly support the hold-up hypothesis. When we construct an interaction term on the Tobin's Q with a non-investment rating dummy, however, the Tobin's Q interaction term becomes positive and significant. Thus, high Tobin's Q firms with a speculative rating are significantly more likely to choose a private placement, regardless of the potential hold-up problems. The ratio of R&D to sales, proxy for proprietary information, is positively significant. This result can be interpreted as evidence in favor of a role for proprietary information in the debt sourcing decision process for these firms.

  • PDF

The Interpretation of Different Recreation Benefits According to Time Horizon in the Contingent Valuation Method (가상가치평가법(假想價値評價法)에서 시간범위(時間範圍)에 따른 휴양가치(休養價値)의 차이(差異) 해석(解析))

  • Kim, Joon-Soon
    • Journal of Korean Society of Forest Science
    • /
    • v.88 no.1
    • /
    • pp.117-123
    • /
    • 1999
  • Consumer surplus is to be a value concerning a time horizon. Especially it is very important how long time horizon would be chosen in contingent market. This study aimed to provide causes of difference recreation benefits through discount rate in many aspects. The data were collected by personal interviews with visitors in Songnisan National Park. The respondents answered yes or no, dichotomous choice, on recreation benefits according to a chosen time horizon, one year or five years. The probit model was used in the analysis. In order to avoid the truncation bias of upper bound, the median was chosen as the recreation benefits of visitor. As the result, the value was evaluated to be 16,569 Won for one year and 27,111 Won for five years. The discount rate is estimated 153% annually to coincide different recreation benefits. The reasons of the high discount rate were to be interpreted as following five types : (1)uncertainty of future consumption (2)increasing of probability of the substitution owing to increasing of time horizon (3)recognization of different time horizons (4) effect by the price ratio of goods and utility function (5) overestimation of the recreation benefits owing to a basic premium of payment vehicle.

  • PDF

Antibiotics Susceptability of Streptococcus pneumoniae Isolated from Pharynx in Healthy Korean Children and Choice of Proper Empirical Oral Antibiotics Using Pharmacokinetics/Pharmacodynamics Model (국내의 소아에서 분리된 폐구균의 항생제 감수성 양상 및 약력동학 모델을 이용한 적절한 항생제의 선택)

  • Paik, Ji Yeun;Choi, Jae Hong;Cho, Eun Young;Oh, Chi Eun;Lee, Jina;Choi, Eun Hwa;Lee, Hoan Jong
    • Pediatric Infection and Vaccine
    • /
    • v.18 no.2
    • /
    • pp.109-116
    • /
    • 2011
  • Purpose : Pneumococcus is one of the most important causes of invasive infection through the childhood period. In January 2008, the Clinical and Laboratory Standards Institute (CLSI) published revised penicillin breakpoints for Streptococcus pneumoniae and penicillin susceptibility rates of S. pneumoniae increased in Korea. This study was performed to determine the probability of oral amoxicillin for the empirical treatment achieving bactericidal exposure against pneumococcus using pharmacodynamics model. Methods : Twenty-three isolates of pneumococci were subjected to determine minimum inhibitory concentration (MIC) for ${\beta}$-lactams and macrolide. For the ${\beta}$-lactams, exposure of fT >MIC (time that free drug concentrations remain above the MIC) for 50% of the administration interval have determined the probability of target attainment (PTA), and regimens that had a PTA >90% were considered optimal. An analysis was performed by applying MIC of 23 isolates to a 5000-patient Monte Carlo simulation model. Results : Among 23 isolates from healthy children, 7 (30.4%) isolates were MIC ${\leq}$1.0 ${\mu}g$/mL and 19 (82.6%) were MIC ${\leq}$2 ${\mu}g$/mL for amoxicillin. Amoxicillin 40 mg/kg/day achieved PTA >90% at MIC ${\leq}$1.0 ${\mu}g$/mL but PTA decreased to 52% at MIC 2 ${\mu}g$/mL, whereas amoxicillin 90 mg/kg/day can predict 97% of PTA at MIC 2 ${\mu}g$/mL. Overall, oral amoxicillin 90 mg/ kg/day for the empirical treatment against pneumococcus can expect more successful response in Korean children. Conclusion : Considering the resistantce pattern of pneumococci in Korean children, we estimate that oral amoxicillin 90 mg/kg/day will provide a pharmacodynamic advantage for the empirical treatment against pneumococcus. And low dose amoxicillin or macrolide are expected to have higher chance of treatment failure than high dose oral amoxicillin.

Gentianae Macrophyllae Radix Water Extract Inhibits RANKL-Induced Osteoclastogenesis and Osteoclast Specific Genes (진교의 파골세포 분화 및 골 흡수 유전자 억제기전 연구)

  • Yang, Kyujin;Kim, Jae Hyun;Kim, Minsun;Ryu, Gwang-hyun;Moon, Jin-Ho;Lee, Hye-In;Jung, Hyuk-Sang;Sohn, Youngjoo
    • Korean Journal of Acupuncture
    • /
    • v.37 no.2
    • /
    • pp.63-75
    • /
    • 2020
  • Objectives : Osteoporosis is the most common bone disease and osteoporosis fracture is the leading cause of decreased life. Bisphosphonate and selective estrogen receptor modulators are the best choice of treatment for osteoporosis. However, when used for a long time, they increase the probability of side effect such as osteonecrosis of the jaw. Thus, it is crucial to develop alternative medicine to treat osteoporosis. Gentianae Macrophyllae Radix, a herbal medicine, is mainly to treat rheumatoid arthritis. However, the effect of the water extract of Gentianae Macrophyllae Radix (w-GM) on osteoporosis has not been investigated. Thus, we examine whether w-GM can inhibit osteoclast differentiation and bone resorption on receptor activator of nuclear factor kappa-B (NF-κB) ligand (RANKL)-treated RAW 264.7 cells. In this study, RAW 264.7 cells were used as an osteoclast differentiation model by treating them with RANKL. Methods : RAW 264.7 cells were used to determine the effect of w-GM on osteoclast differentiation and bone resorption. The number of tartrate-resistant acid phosphatase (TRAP)-positive cells, TRAP activity and pit formation assay were examined. In addition, protein expressions were measured by western blot and mRNA expressions were analyzed by reverse transcription polymerase chain reaction. Results : Treatment with w-GM inhibited the number of TRAP-positive cells, TRAP activity and pit area. In addition, w-GM decreased protein expression such as mitogen-activated protein kinase, NF-κB, c-Fos and nuclear factor of activated T-cells cytoplasmic 1 (NFATc1). It also inhibited the mRNA levels such as c-Fos, NFATc1, TRAP, NF-κB, calcitonin receptor and cathepsin K in RANKL-treated RAW 264.7 cells. Conclusions : These results suggest that w-GM has inhibitory effects via osteoclast differentiation, thus it could be a new medication for osteoporosis.

Analysis of Chinese Consumer Preference of Country of Origin for Apples based on National Organic Certification (사과의 국가별 유기인증 결합에 대한 중국 소비자 선호분석)

  • Kwon, Jae-Hyun;Kim, Jeong-Nyeon;Hong, Na-Kyoung;Kim, Tae-Kyun
    • Current Research on Agriculture and Life Sciences
    • /
    • v.32 no.4
    • /
    • pp.225-230
    • /
    • 2014
  • This study investigates the effect of organic certification of apples on consumer preference in China as a way to support the expanded export of Korean apples to China. A choice experiment was designed to analyze the apple consumption in China. A total of 298 Chinese consumers answered the survey, and multinomial logit models were used to analyze the results. Organic certification was identified as an important determinant of consumer preference for apples in China, affecting both the evaluation and choice of country of origin. The results also indicated that Korean organic certification significantly increased the probability of Chinese consumers choosing Korean apples. Thus, organic certification by the Korean government should be strengthened to promote apple exports to China, plus the results of this study may provide useful information to promote agricultural product exports and improve the organic certification system.

Features of sample concepts in the probability and statistics chapters of Korean mathematics textbooks of grades 1-12 (초.중.고등학교 확률과 통계 단원에 나타난 표본개념에 대한 분석)

  • Lee, Young-Ha;Shin, Sou-Yeong
    • Journal of Educational Research in Mathematics
    • /
    • v.21 no.4
    • /
    • pp.327-344
    • /
    • 2011
  • This study is the first step for us toward improving high school students' capability of statistical inferences, such as obtaining and interpreting the confidence interval on the population mean that is currently learned in high school. We suggest 5 underlying concepts of 'discretion of contingency and inevitability', 'discretion of induction and deduction', 'likelihood principle', 'variability of a statistic' and 'statistical model', those are necessary to appreciate statistical inferences as a reliable arguing tools in spite of its occasional erroneous conclusions. We assume those 5 concepts above are to be gradually developing in their school periods and Korean mathematics textbooks of grades 1-12 were analyzed. Followings were found. For the right choice of solving methodology of the given problem, no elementary textbook but a few high school textbooks describe its difference between the contingent circumstance and the inevitable one. Formal definitions of population and sample are not introduced until high school grades, so that the developments of critical thoughts on the reliability of inductive reasoning could not be observed. On the contrary of it, strong emphasis lies on the calculation stuff of the sample data without any inference on the population prospective based upon the sample. Instead of the representative properties of a random sample, more emphasis lies on how to get a random sample. As a result of it, the fact that 'the random variability of the value of a statistic which is calculated from the sample ought to be inherited from the randomness of the sample' could neither be noticed nor be explained as well. No comparative descriptions on the statistical inferences against the mathematical(deductive) reasoning were found. Few explanations on the likelihood principle and its probabilistic applications in accordance with students' cognitive developmental growth were found. It was hard to find the explanation of a random variability of statistics and on the existence of its sampling distribution. It is worthwhile to explain it because, nevertheless obtaining the sampling distribution of a particular statistic, like a sample mean, is a very difficult job, mere noticing its existence may cause a drastic change of understanding in a statistical inference.

  • PDF

Herbicidal Phytotoxicity under Adverse Environments and Countermeasures (불량환경하(不良環境下)에서의 제초제(除草劑) 약해(藥害)와 경감기술(輕減技術))

  • Kwon, Y.W.;Hwang, H.S.;Kang, B.H.
    • Korean Journal of Weed Science
    • /
    • v.13 no.4
    • /
    • pp.210-233
    • /
    • 1993
  • The herbicide has become indispensable as much as nitrogen fertilizer in Korean agriculture from 1970 onwards. It is estimated that in 1991 more than 40 herbicides were registered for rice crop and treated to an area 1.41 times the rice acreage ; more than 30 herbicides were registered for field crops and treated to 89% of the crop area ; the treatment acreage of 3 non-selective foliar-applied herbicides reached 2,555 thousand hectares. During the last 25 years herbicides have benefited the Korean farmers substantially in labor, cost and time of farming. Any herbicide which causes crop injury in ordinary uses is not allowed to register in most country. Herbicides, however, can cause crop injury more or less when they are misused, abused or used under adverse environments. The herbicide use more than 100% of crop acreage means an increased probability of which herbicides are used wrong or under adverse situation. This is true as evidenced by that about 25% of farmers have experienced the herbicide caused crop injury more than once during last 10 years on authors' nationwide surveys in 1992 and 1993 ; one-half of the injury incidences were with crop yield loss greater than 10%. Crop injury caused by herbicide had not occurred to a serious extent in the 1960s when the herbicides fewer than 5 were used by farmers to the field less than 12% of total acreage. Farmers ascribed about 53% of the herbicidal injury incidences at their fields to their misuses such as overdose, careless or improper application, off-time application or wrong choice of the herbicide, etc. While 47% of the incidences were mainly due to adverse natural conditions. Such misuses can be reduced to a minimum through enhanced education/extension services for right uses and, although undesirable, increased farmers' experiences of phytotoxicity. The most difficult primary problem arises from lack of countermeasures for farmers to cope with various adverse environmental conditions. At present almost all the herbicides have"Do not use!" instructions on label to avoid crop injury under adverse environments. These "Do not use!" situations Include sandy, highly percolating, or infertile soils, cool water gushing paddy, poorly draining paddy, terraced paddy, too wet or dry soils, days of abnormally cool or high air temperature, etc. Meanwhile, the cultivated lands are under poor conditions : the average organic matter content ranges 2.5 to 2.8% in paddy soil and 2.0 to 2.6% in upland soil ; the canon exchange capacity ranges 8 to 12 m.e. ; approximately 43% of paddy and 56% of upland are of sandy to sandy gravel soil ; only 42% of paddy and 16% of upland fields are on flat land. The present situation would mean that about 40 to 50% of soil applied herbicides are used on the field where the label instructs "Do not use!". Yet no positive effort has been made for 25 years long by government or companies to develop countermeasures. It is a really sophisticated social problem. In the 1960s and 1970s a subside program to incoporate hillside red clayish soil into sandy paddy as well as campaign for increased application of compost to the field had been operating. Yet majority of the sandy soils remains sandy and the program and campaign had been stopped. With regard to this sandy soil problem the authors have developed a method of "split application of a herbicide onto sandy soil field". A model case study has been carried out with success and is introduced with key procedure in this paper. Climate is variable in its nature. Among the climatic components sudden fall or rise in temperature is hardly avoidable for a crop plant. Our spring air temperature fluctuates so much ; for example, the daily mean air temperature of Inchon city varied from 6.31 to $16.81^{\circ}C$ on April 20, early seeding time of crops, within${\times}$2Sd range of 30 year records. Seeding early in season means an increased liability to phytotoxicity, and this will be more evident in direct water-seeding of rice. About 20% of farmers depend on the cold underground-water pumped for rice irrigation. If the well is deep over 70m, the fresh water may be about $10^{\circ}C$ cold. The water should be warmed to about $20^{\circ}C$ before irrigation. This is not so practiced well by farmers. In addition to the forementioned adverse conditions there exist many other aspects to be amended. Among them the worst for liquid spray type herbicides is almost total lacking in proper knowledge of nozzle types and concern with even spray by the administrative, rural extension officers, company and farmers. Even not available in the market are the nozzles and sprayers appropriate for herbicides spray. Most people perceive all the pesticide sprayers same and concern much with the speed and easiness of spray, not with correct spray. There exist many points to be improved to minimize herbicidal phytotoxicity in Korea and many ways to achieve the goal. First of all it is suggested that 1) the present evaluation of a new herbicide at standard and double doses in registration trials is to be an evaluation for standard, double and triple doses to exploit the response slope in making decision for approval and recommendation of different dose for different situation on label, 2) the government is to recognize the facts and nature of the present problem to correct the present misperceptions and to develop an appropriate national program for improvement of soil conditions, spray equipment, extention manpower and services, 3) the researchers are to enhance researches on the countermeasures and 4) the herbicide makers/dealers are to correct their misperceptions and policy for sales, to develop database on the detailed use conditions of consumer one by one and to serve the consumers with direct counsel based on the database.

  • PDF