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Presentation and Representation of Modernity in Modern Architecture - On Exclusion of Ornament and Emergence of the surface - (근대주의 건축에서 모더니티 표상의 문제 - 장식의 배제와 표면의 부각을 중심으로 -)

  • Khang, Hyuk
    • Journal of architectural history
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    • v.15 no.4
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    • pp.37-56
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    • 2006
  • Introducing International Style, P. Johnson and H. R. Hitchcock gave three standards to be the Modern, volume and surface, regularity, and exclusion of applied decoration. In spite of the negation of stylistic, formal approach in the Modernist Manifestoes, one usually have understood Modernity in Architecture with its formal character, especially with no ornament and flat, abstract, white surface. Modernism as a new paradigm in architecture have emphasized that there is no representation of anything outside and only present architecture in itself. They said that Modernism only cared about the language of Architecture without figural reference. So apparently there is no way to prove to its Modernity with formal condition. Modernity is in Spirit and contents. But actually we understand well its existence by visual communication This study deals with this difficult situation how Modernity represents itself without visual media and asks the question how simultaneously it presents its thingness and materiality In order to analyse contradictory situation between representation and presentation in Modern Architecture we need to survey the historical process of changing position of ornaments and its meaning in time. With the crisis of representation the role of ornament have seriously changed and divided. It caused the two situation in pre-Modern Architecture. Firstly, Architecture tend to be a high art and formal expression became important much more. The Use of Ornament became a kind of fashion to show the power, class, money. Secondly, Ornament lost its cultural weight and the structure and material aspect became the central in architecture. Rational Structuralism would be the essential character in Modern Architecture. Here the theory of G. Semper and A. Loos on cladding(dressing) and Ornament can help its problems and limits. In the situation without conventional ornament Modernists need to present modernity with new media that only show the thing itself and by that it does not represent any thing else as like the value, idea outside buildings. They believed that only it concerned esthetics and morality in architecture. But in reality it referred to art and machines as like ships, aircraft, and cars. By excluding Ornament and showing the process of clearing, abstract, flat, white surface 'represent' Modernity by the indirect way referring the concept of transparency, reason, sanitation, tectonics, etc. An Ideology and myth intervened architectural discourse to make the doxa about the representation in Architecture. Surface must be a different kind of media and message that can communicate in different way with compared to conventional Ornament. Decorated Shed by R. Venturi and Post-Functionalism by P. Eisenman, that are the most famous post-modern discourse, shows well difficult and contradictory condition in contemporary architecture concerning representation and form, meaning and form.

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Research on the Actual Conditions of the Outpatients who Visited the Pediatrics Department in $\bigcirc\;\bigcirc$ University Oriental Medicine Hospital between 2005 and 2006 (2005${\sim}$2006년 모 대학 부속한방병원 학생건강클리닉에 내원한 외래 환자 실태조사)

  • Yoon, Kyung-Hee;Koh, Duck-Jae;Kim, Deog-Gon
    • The Journal of Pediatrics of Korean Medicine
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    • v.21 no.3
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    • pp.125-143
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    • 2007
  • Objective The purpose of this study was to investigate health and life style of pediatric outpatients who visited the oriental hospital. Methods The study was composed of 363 students from elementary school, middle school and high school who visited the pediatrics department in $\bigcirc\;\bigcirc$ university oriental medicine hospital between 2005 and 2006. Results 1. The group wasconsisted with 56% of male and 44% of female student and for the age distribution, 7.4% were elementary school students, 55.6% were middle school students, and 36.9% were high school students. 2. Usually the eldest child tends to visit hosipital more than the younger ones. 3. More than a half of those students' parent had University education or beyond that. 4. There were more students who had below the level of the height-weight curve than in the higher level. 5. The average study hours of the students were 3.67 hours. An average sleep hours was 6.18 hours. An average exercise hour was 1.16 hours and an average time for watching TV was 1.71 hours. 6. Many students had hard time to concentrate on the studying for a long time. 7. For the question about the reason why they got the poor grade, they answered because of the lower concentration, and they didn't put much effort on the studying. The most they concern about was their grade. 8. Most of the students who visited the clinic said they did not feel refreshed when they woke up in the morning, and, many of them said that they don't feel okay. 9. More than an half of the students wear glasses. 10. More than an half of the students answered that they often catch a cold when the weather changes a lot. 11. A lot of them had some digestive problems. 12. As they getting older, they said they often feel back pain and shoulder pain. 13. Many students felt irritated and got mad easily. Many of them felt bored about their study and stressed out because of their tests and the university entrance exams. 14. Most of the female students answered that they have irregular period or cramps. 15. 21% of them usually skip breakfast. 16. Many students enjoyed snacks. Most of them enjoyed snacks after school. As they go into higher grade, they would like to eat at night especially cookies, bread and fruits. Conclusions Further studies with larger sample size of students will be neededfor accurate results, and it would be better if we can compare the conditions of the students before treatments and after those.

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ADHD Simple Examination Using an OSGi Base USB Terminal System (OSGi 기반 USB 단말기 시스템을 이용한 ADHD 간편검사)

  • Han, Sang-Seok;Lee, Chang-Goo
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.9 no.3
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    • pp.664-673
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    • 2008
  • Recently, the ubiquitous is handled by maximum topic. New knowledge information and ubiquitous computing evolution have promoted new paradigm transfer and grand change. Also, need technology as powerful engineering approached fairly system and educational guidance side examination necessarily to overcome u-Learning base situation and studying obstacle situations. This treatise embodied handiness examination about attention shortage and excess obstacle (Attention Deficit Hyperactivity Disorder, low ADHD) who must solve so as to be square and level being increase trend in primary school using USB (Universal Serial Bus) terminal system that allow fetters to OSGi (Open Service Gateway Initiative). That OSGi base USB terminal system is easy preservation of information, safety of network, cost-cutting and maintenance by various ubiquitous system that server that load many USB terminals and OSGi uses an USB bus of high speed and construct network, there is advantage of concentration elevation and so on of week and ADHD handled in this treatise because early diagnosis and treatment are serious. The confirmed system application that can supplement paper and pens examination's shortcoming and could solve examination's problem which use computer, and help in student guidance through ADHD simpleexamination who utilize OSGi base USB terminal system. Is available by game system that system for human nature examination or intelligence test and general exam explaining and level studying, order style question investigation program, studying system for disabled person, majority that enforce in public in school this study finding does together.

A study on the Existential-Practical Perspective of Nietzsche's Philosophie (니체철학의 실존적-실천적 관점에 대한 연구)

  • Lee, Sang-bum
    • Journal of Korean Philosophical Society
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    • v.137
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    • pp.277-321
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    • 2016
  • Friedrich Nietzsche's philosophy embraces characteristics of existential philosophy and philosophical anthropology. In his book "Thus Spoke Zarathustra", Nietzsche defined human beings as an existence with innate possibility for change, beings that stand at the borderline between "the last man" and "the ${\ddot{u}}bermensch$", raising a question over the meaning of human being's existential healthiness. The anthropological symptoms that Nietzsche's philosophy deals with trigger existential problems, and healing these anthropological symptoms is a precedent to healing an existence. In Nietzsche's philosophy, the ${\ddot{u}}bermensch$ is presented as a prototype of practical man with a healthy existence, born from endeavors to heal the last man prototype of a decadence that was prevalent throughout Europe at the time. Nietzsche found the root cause of nihilism found in Europe in philosophy, religion, metaphysics, and Christianity, and attempted a genealogical investigation on this aspect. In so doing, a philosophical problem surfaced whereby only one truth was used to force diverse existential styles into a uniform style. Nietzsche intensively criticized philosophy and philosophers that only studied truths from metaphysical-Christian-moral perspectives, as they overlooked the foundation of true existence and presented human beings of a feeble mind and will as a result. Nietzsche emphasized the practical role of philosophy that can contribute to the human being's ascent and growth based on realistic conditions of human existence described as the earth, that philosophy that can serve as a basis for existential transformation of human beings and their lives. The task of philosophers is to lay the groundwork for the possibility of changes for all human beings and their realization. This existential practical foundation of philosophy can be called the ${\ddot{u}}bermensch$, as it is healthy man, the "greatest reality" as Nietzsche desired.

글로벌 아트페어(Global Art Fair) 비평적 읽기

  • Sim, Sang-Yong
    • The Journal of Art Theory & Practice
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    • no.6
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    • pp.51-76
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    • 2008
  • Nous obserbons dans le champs de l'art aujourd' hui, le changement radical provoquant $\'{e}$tant donn$\'{e}$ que le pouvoir du march$\'{e}$ de l'art s'augmente de plus en plus. C'est pour cela que le champ du discours de l'art n'est actuellement plus form$\'{e}$ par des notions esth$\`{e}$tiques artistiques, mais par celles qui sont r$\'{e}$serv$\'{e}$es au domaine de l'$\'{e}$conomie et du march$\'{e}$. Il n'est plus significatif de croire la valeur esth$\`{e}$tique de l'oeuvre d'art, puisque l'esth$\`{e}$tique elle-m$\^{e}$me ne fonctionne plus. Par contre, le syst$\`{e}$me de donner le prix $\`{a}$ l'oeuvre d'art fonctionne rigoureusement. En plus, cette situation s'aggrave $\'{e}$tant donn$\'{e}$ que la mondialisation du march$\'{e}$ de l'art s'installe avec rapidit$\'{e}$. Malgr$\'{e}$ la mondialisation de l'art, des gens qui habitent par exemple $\`{a}$ S$\'{e}$oul ne peuvent pas s' approcher facilement de ce qui se passe $\`{a}$ New York, le vrai centre de l'art contemporain. Dans cette situation, le champ de discours de l'art n'a pas d'autre solution de se r$\'{e}$tr$\'{e}$cir remaquablement et le sujet de discussion sur le grand art est remplac$\'{e}$ par celui du success de l'art. Cette recherche est arriv$\'{e}$e $\`{a}$ remarquer que le syst$\`{e}$me du foire internationale de l'art fonctionne comme une locomotive dans le march$\'{e}$ de l'art qui est le vrai dominateur de l'art contemporain. Aujourd'hui les grands clients du monde de l'art et les jeunes sp$\'{e}$ctateurs, les clients de l'avenir s'assemblent autour de quelques foires internationales r$\'{e}$put$\'{e}$s qui ont de l'autorit$\'{e}$. C'est ainsi que l'achat et la vante de l'oeuvres d'art est suffisamment mondialis$\'{e}$ et que le syst$\`{e}$me local du march$\'{e}$ est d$\'{e}$rang$\'{e}$ et s'$\'{e}$ffondr$\'{e}$gravement. Malgr$\'{e}$ la diff$\'{e}$rence significative, la majorit$\'{e}$ des galeries d'art lacaux s'oblige de suivre $\`{a}$ la suite du style du foire internationale de l'art. C'est la raison pour laquelle que cette recherche se fait une id$\'{e}$e nette que la prosp$\'{e}$rit$\'{e}$ actuelle du march$\'{e}$ de l'art n'est que la situation $\'{e}$conomique ou financi$\`{e}$re. A ce stade de la r$\'{e}$flexion, cette recherche arrivera $\`{a}$ poser une question primordiale ci-dessous: "Si l'art qu'on $\`{a}$ l'intention de proclamer ne serai plus possible de faire r$\'{e}$fl$\'{e}$chir sur la libert$\'{e}$ et la solidarit$\'{e}$ humain, la dignit$\'{e}$ de l'homme, cet art n'est plus autre chose que l'insignifiance. Au lieu de parcourir divers ph$\'{e}$nom$\`{e}$ne du march$\'{e}$ de l'art aujourd'hui, cette recherche fixera son attention sur la r$\'{e}$alit$\'{e}$ du foire internationales de l'art. Dans ce context, cette recherche sera compos$\'{e}$e par trois chapitres donc le premi$\`{e}$re essayera de r$\'{e}$pondre $\'{a}$ la question de son influence extraodinairement puissante. Le deuxi$\`{e}$me chapitre essayera d'analiser la r$\'{e}$alit$\'{e}$ et la source du pouvoir du foire internationale de l'art. Nous essayeront au troisi$\`{e}$me chapitre de configurer le point de vue critique qui permettra de bien comprendre notre sujet.

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Stress, Social Support and Coping of Adults According to Level of Self-Efficacy (성인의 스트레스, 사회적 지원과 대처: 자기효능감 수준별 분석)

  • Young-Shin Park;Ju-Yeon Son;Ok-Ran Song
    • Korean Journal of Culture and Social Issue
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    • v.23 no.2
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    • pp.295-332
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    • 2017
  • The main purpose of this research is to analyze stress, social support and coping behavior of adults based on their level of self-efficacy. A total of 899 adults (399 male; 500 female), each with a child attending either elementary and secondary school, participated in the study. The inter-rater reliability for the open-ended questionnaire utilized in the study was 93.4%, with a Kappa coefficient of .92. The range of Cronbach α for the variables measured through a quantitative method was .87~.92. The results were as follows: First, the representative responses to the question about their most painful stress experiences were, financial difficulties, child rearing and duties of workplace. The Lower Efficacy group, compared to the Upper Efficacy group, responded much more with financial difficulties related responses. There were significant differences in the level of stress symptoms according to level of self-efficacy. The Lower Efficacy group expressed stronger levels of stress symptoms when compared to the Upper Efficacy group. Second, in terms of social support, the participants responded that they received the most help from their family members, followed by none(self), and friends. When comparing the two efficacy groups, the Upper Efficacy group responded most frequently that they received social support from their family members, whereas the Lower Efficacy group indicated none. There were significant differences in the level of relational conflicts according to the level of self-efficacy. The Upper Efficacy group showed much less conflict in parent-child relations, spousal relations and relations with their boss, compared to the Lower Efficacy group. Third, for the type of social support participants received, the most frequent response was emotional support, followed by none, and advice. Relatively, when comparing the two groups with each other, the Lower Efficacy group responded more frequently with none, whereas for the Upper Efficacy group responded more frequently with advice. There were significant differences in the amount of emotional support received according to level of self-efficacy. The Upper Efficacy group received much more emotional support from their spouses and their bosses compared to the Lower Efficacy group. Fourth, the most frequently adopted coping style to stress was self-regulation, followed by direct problem solving, and nothing(none). The most frequent response for the Upper Efficacy group was direct problem solving, whereas for the Lower Efficacy group was nothing(none). There was a significant difference in coping efficiency to stress according to level of self-efficacy. The Upper Efficacy group coped more efficiently with stress than the Lower Efficacy group.

The Society Page of Newspaper of the colonized Korea, its politics of sentiment and modulation of social facts (식민지 신문 '사회면'의 감정정치 -사회적 사실들의 정치적 서사화)

  • Yoo, Sun Young
    • Korean journal of communication and information
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    • v.67
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    • pp.177-208
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    • 2014
  • This study inquires how human interest news on society section of newspapers had been modulated as multi-layered political narratives that would consistently have Koreans consider, realize and question on colonial situation as well as ethnic identity. Under totalitarian censorship of the colonial government, newspapers could not publish reports on political issues and current affairs, so society page of human interest such as crime, accident, conflict, disaster, and many kinds of sufferings of peoples to death would take great public attention and consequently be considered as a substitute of political section. Society page had enjoyed its influence on formation of public opinion of the colonized ethnic society and had maintained cultural-nationalist position ever since the founding of newspaper in mother-tongue in 1920. In colonial context, there is nothing non-political to the lives of the colonized, social facts would be necessary and happen to be modulated into a narrative that could trigger nationalist sentiment. For this end, news reporting of society section usually concentrated on aspects of 'Les Mis${\acute{e}}$rqbles', dramatic quality, and psychological factors in detail. Narrative style of news reporting got used to modulate factual informations with a proper taste of exaggeration, emotional expression, and commercial touch of exciting words. Even in a case of death by drug abuse, news was written to indicate what made him/her drive to miserable death on street, that is, what is de facto reason of all of social problems like as migration, hunger, leaving home, crime, suicide, violence, gambling, love affairs to death, adultery, and even opium habit. Those social problems and personal sufferings appeared up on newspaper 3rd page at daily base. Readers could acknowledge and identify what the real matter that should be resolved and then blame colonialism, capitalism, and militarism for those social problems. Journalists put values on inciting the colonized to realize the national and ethnic situation and feel sympathy for their people tied up by a common destiny. In this terms, news on society section of newspaper under Colonial Occupation were encoded as narratives of politically layered text and then decoded as intriguing sentiments against colonial dominance. I argue that society page of newspaper of colonial period engaged in a sort of cultural politics of sentiment and emotion which is a private area outside of imperial sight.

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Issue tracking and voting rate prediction for 19th Korean president election candidates (댓글 분석을 통한 19대 한국 대선 후보 이슈 파악 및 득표율 예측)

  • Seo, Dae-Ho;Kim, Ji-Ho;Kim, Chang-Ki
    • Journal of Intelligence and Information Systems
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    • v.24 no.3
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    • pp.199-219
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    • 2018
  • With the everyday use of the Internet and the spread of various smart devices, users have been able to communicate in real time and the existing communication style has changed. Due to the change of the information subject by the Internet, data became more massive and caused the very large information called big data. These Big Data are seen as a new opportunity to understand social issues. In particular, text mining explores patterns using unstructured text data to find meaningful information. Since text data exists in various places such as newspaper, book, and web, the amount of data is very diverse and large, so it is suitable for understanding social reality. In recent years, there has been an increasing number of attempts to analyze texts from web such as SNS and blogs where the public can communicate freely. It is recognized as a useful method to grasp public opinion immediately so it can be used for political, social and cultural issue research. Text mining has received much attention in order to investigate the public's reputation for candidates, and to predict the voting rate instead of the polling. This is because many people question the credibility of the survey. Also, People tend to refuse or reveal their real intention when they are asked to respond to the poll. This study collected comments from the largest Internet portal site in Korea and conducted research on the 19th Korean presidential election in 2017. We collected 226,447 comments from April 29, 2017 to May 7, 2017, which includes the prohibition period of public opinion polls just prior to the presidential election day. We analyzed frequencies, associative emotional words, topic emotions, and candidate voting rates. By frequency analysis, we identified the words that are the most important issues per day. Particularly, according to the result of the presidential debate, it was seen that the candidate who became an issue was located at the top of the frequency analysis. By the analysis of associative emotional words, we were able to identify issues most relevant to each candidate. The topic emotion analysis was used to identify each candidate's topic and to express the emotions of the public on the topics. Finally, we estimated the voting rate by combining the volume of comments and sentiment score. By doing above, we explored the issues for each candidate and predicted the voting rate. The analysis showed that news comments is an effective tool for tracking the issue of presidential candidates and for predicting the voting rate. Particularly, this study showed issues per day and quantitative index for sentiment. Also it predicted voting rate for each candidate and precisely matched the ranking of the top five candidates. Each candidate will be able to objectively grasp public opinion and reflect it to the election strategy. Candidates can use positive issues more actively on election strategies, and try to correct negative issues. Particularly, candidates should be aware that they can get severe damage to their reputation if they face a moral problem. Voters can objectively look at issues and public opinion about each candidate and make more informed decisions when voting. If they refer to the results of this study before voting, they will be able to see the opinions of the public from the Big Data, and vote for a candidate with a more objective perspective. If the candidates have a campaign with reference to Big Data Analysis, the public will be more active on the web, recognizing that their wants are being reflected. The way of expressing their political views can be done in various web places. This can contribute to the act of political participation by the people.

The Effects of Price Salience on Consumer Perception and Purchase Intentions (개격현저대소비자감지화구매의도적영향(价格显著对消费者感知和购买意图的影响))

  • Martin-Consuegea, David;Millan, Angel;Diaz, Estrella;Ko, Eun-Ju
    • Journal of Global Scholars of Marketing Science
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    • v.20 no.2
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    • pp.149-163
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    • 2010
  • Previous studies have shown that retail price promotion change consumers' purchase behavior and that retailers use price promotion more frequently. Keeping constant the benefits received by consumers, there are several ways for retailers to communicate a price promotion. For example, retailers can present a price reduction in absolute terms ($, ${\euro}$), percentage terms (%), or some combinations of these two methods (Della Bitta et al. 1981). Communicating a price promotion in different ways is similar to the framing of purchase decisions (Monroe 1990). Framing effects refers to the finding that subjects respond differently to different descriptions of the same decision question (Frisch 1993). Thus, the presentation of the promotion has an impact on consumer deal evaluation and hence retail sales. In fact, much research in marketing attests to the effects of price presentation on deal perception (Lichtenstein and Bearden 1989; Urbany et al. 1988; Yadav and Monroe 1993). In this sense, a number of marketing researches have argued that deal perceptions are also determined by the degree to which consumers are able to calculate the discounts and final purchase prices accurately (Estelami 2003a; Morwitz et al. 1998), which suggests that marketers may be able to enhance responses to discounts by improving calculation accuracy. Consequently, since calculation inaccuracies in the aggregate lead to the underestimation of discounts (Kim and Kramer 2006), consumers are more likely to appreciate a discounted offer following deeper processing of price information that enables them to evaluate a price discount more accurately. The purpose of this research is to examine the effect of different presentations of discount prices on consumer price perceptions. To be more precise, the purpose of this study is to investigate how different implementations of the same price promotion (semantic and visual salience) affect consumers' perceptions of the promotion and their purchase decisions. Specifically, the analysis will focus on the effect of price presentation on evaluation, purchase intentions and perception of savings. In order to verify the hypotheses proposed in the research, this paper will present an experimental analysis dealing with several discount presentations. In this sense, a2 (Numerical salience presentation: absolute and relative) x2 (Worded salience presentation: novel and traditional) x2 (Visual salience: red and blue) design was employed to investigate the effects of discount presentation on three dependent variables: evaluation, purchase intentions and perception of savings. Respondents were exposed to a hypothetical advertisement that they had to evaluate and were informed of the offer conditions. Once the sample finished evaluating the advertisement, they answered a questionnaire related to price salience and dependent dimensions. Then, manipulation checks were conducted to ensure that respondents remembered their treatment conditions. Next, a $2{\times}2{\times}2$ MANOVA and follow-up univariate tests were conducted to verify the research hypotheses suggested and to examine the effects of the individual factors (price salience) on evaluation, purchase intentions and perceived savings. The results of this research show that semantic and visual salience presentations have significant main effects and interactions on evaluation, purchase intentions and perception of savings. Significant numerical salience interactions affected evaluation and purchase intentions. Additionally, a significant worded salience main effect on perception of savings and interactions on evaluation and purchase intentions were found. Finally, visual salience interactions have significant effects on evaluation. The main findings of this research suggest practical implications that firms should consider when planning promotion-based discounts to attract consumer attention. Consequently, because price presentation has important effects on consumer perception, retailers should consider which effect is wanted in order to design an effective discount presentaion. Specifically, retailers should present discounts with a traditional style that facilitates final price calculation. It is thus important to investigate ways in which marketers can enhance the accuracy of consumers' mental arithmetic to improve responses to price discounts. This preliminary study on the effect of price presentation on consumer perception and purchase intentions opens the line of research for further research. The results obtained in this research may have been determined by a number of limiting conceptual and methodological factors. In this sense, the research deals with a variety of discount presentations as well as with their effects; however, the analysis could include additional salience dimensions and effects on consumers. Furthermore, a similar study could be carried out including a larger, more inclusive and heterogeneous sample of consumers. In addition, the experiment did not require sample individuals to actually buy the product, so it is advisable to compare the effects obtained in the research with real consumer behavior and perception.

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
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    • v.12 no.1
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    • pp.127-148
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    • 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.

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