• Title/Summary/Keyword: real value

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Estimating Profitability of Private Finance Investment Using Real Option : Quantifying Value of Overturn Share Ratio and Minimum Revenue Guarantee (실물옵션에 의한 민간투자사업 사업타당성 평가 : 초과수익분배비율 및 최소수입보장비율 가치 정량화)

  • Jung, Woo-Yong;Koo, Bon-Sang;Han, Seung-Heon
    • Proceedings of the Korean Institute Of Construction Engineering and Management
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    • 2008.11a
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    • pp.606-609
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    • 2008
  • Traditionally, the feasibility of the private investment is determined by NPV(Net Presented Value) based on DCF(Discounted Cash Flow) and the volume of government's subsidiary without quantifying the effect of overturn share ratio and MRG(Minimum Revenue Guarantee), these variables which can seriously effect on the economic feasibility. One of the most important reasons why these variables are not underestimated is that the quantifying methods are insufficiently or so complicatedly studied to apply practically the real project. Therefore, this study suggests the modified binominal option model to estimate the overturn share ratio and MRG and estimates how much these variables impact the private investment. Also, these results are helpful to estimate how much the government's subsidiary can be reduced.

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The Effect of Constructing an Cultural Environment on the Economic Revitalization within the Four Regions of Seoul (서울 4대 지역의 문화환경 조성으로 인한 지역경제 활성화 효과)

  • Park, Joung-Koo;Park, Jong-Sun;Kim, Myung-Sik
    • Journal of the Korean Institute of Landscape Architecture
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    • v.36 no.6
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    • pp.55-65
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    • 2009
  • This study examined how the construction of an environment of culture has affected economic revitalization within the four regions of Seoul. World Cup Stadium, Bookchon, Daehackro, and Seoul Forest were selected for study in consideration of the types and characteristics of cultural environments. The data were collected by questionnaire surveys, which were administered to local residents. The results found an increase in the value of real estate in Seoul Forest while the construction of a culture-based environment had a positive effect on shop sales, the provision of employment opportunities, and the generation of tourist-based income in Daehackro. Using regression analysis, the relative influence of a cultural environment on the value of real estate was greatest on the improvement of local image and the enhancement of cultural enjoyment. The results found that the enhancement of cultural enjoyment was the most prominent predictor of the provision of employment opportunities and an increase in the number of tourists.

Image Processing Algorithm for Weight Estimation of Dairy Cattle (젖소 체중추정을 위한 영상처리 알고리즘)

  • Seo, Kwang-Wook;Kim, Hyeon-Tae;Lee, Dae-Weon;Yoon, Yong-Cheol;Choi, Dong-Yoon
    • Journal of Biosystems Engineering
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    • v.36 no.1
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    • pp.48-57
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    • 2011
  • The computer vision system was designed and constructed to measure the weight of a dairy cattle. Its development involved the functions of image capture, image preprocessing, image algorithm, and control integrated into one program. The experiments were conducted with the model dairy cattle and the real dairy cattle by two ways. First experiment with the model dairy cattle was conducted by using the indoor vision experimental system, which was built to measure the model dairy cattle in the laboratory. Second experiment with real dairy cattle was conducted by using the outdoor vision experimental system, which was built for measuring 229 heads of cows in the cattle facilities. This vision system proved to a reliable system by conducting their performance test with 15 heads of real cow in the cattle facilities. Indirect weight measuring with four methods were conducted by using the image processing system, which was the same system for measuring of body parameters. Error value of transform equation using chest girth was 30%. This error was seen as the cause of accumulated error by manually measurement. So it was not appropriate to estimate cow weight by using the transform equation, which was calculated from pixel values of the chest girth. Measurement of cow weight by multiple regression equation from top and side view images has relatively less error value, 5%. When cow weight was measured indirectly by image surface area from the pixel of top and side view images, maximum error value was 11.7%. When measured cow weight by image volume, maximum error weight was 57 kg. Generally, weight error was within 30 kg but maximum error 10.7%. Volume transform method, out of 4 measuring weight methods, was minimum error weight 21.8 kg.

Valuation on the Photovoltaic Core Material Technology Using Black-Scholes Model: a Company's Case Study (블랙숄즈모형을 적용한 태양광 핵심소재 기술가치평가: 기업사례를 중심으로)

  • Lee, Dong-Su;Jeong, Ki-Ho
    • Journal of Korea Technology Innovation Society
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    • v.14 no.3
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    • pp.578-598
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    • 2011
  • This study estimates the value of photovoltaic core material technology, which is getting attention as a clean energy source. The estimation is based on the real option pricing model (ROPM). This study has two main contributions. The first is in the methodology. The process of modeling volatility, which is the most complicated stage in ROPM, is greatly simplified by using the stock price as a covariate representing the volatility of the real option's basic asset. The second contribution is the application of technology. In this study, the economic value of poly-silicon, a core material in the photovoltaic industry and recently surging in demand, is evaluated as a manufacturing technology. In a case study of a company in the photovoltaic industry, the stochastic process of a basic asset follows geometric Brownian motion (GBM), and the option value of firm A's poly-silicon manufacturing technology is estimated at 3.4 trillion won.

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Improving the Accuracy of a Heliocentric Potential (HCP) Prediction Model for the Aviation Radiation Dose

  • Hwang, Junga;Yoon, Kyoung-Won;Jo, Gyeongbok;Noh, Sung-Jun
    • Journal of Astronomy and Space Sciences
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    • v.33 no.4
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    • pp.279-285
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    • 2016
  • The space radiation dose over air routes including polar routes should be carefully considered, especially when space weather shows sudden disturbances such as coronal mass ejections (CMEs), flares, and accompanying solar energetic particle events. We recently established a heliocentric potential (HCP) prediction model for real-time operation of the CARI-6 and CARI-6M programs. Specifically, the HCP value is used as a critical input value in the CARI-6/6M programs, which estimate the aviation route dose based on the effective dose rate. The CARI-6/6M approach is the most widely used technique, and the programs can be obtained from the U.S. Federal Aviation Administration (FAA). However, HCP values are given at a one month delay on the FAA official webpage, which makes it difficult to obtain real-time information on the aviation route dose. In order to overcome this critical limitation regarding the time delay for space weather customers, we developed a HCP prediction model based on sunspot number variations (Hwang et al. 2015). In this paper, we focus on improvements to our HCP prediction model and update it with neutron monitoring data. We found that the most accurate method to derive the HCP value involves (1) real-time daily sunspot assessments, (2) predictions of the daily HCP by our prediction algorithm, and (3) calculations of the resultant daily effective dose rate. Additionally, we also derived the HCP prediction algorithm in this paper by using ground neutron counts. With the compensation stemming from the use of ground neutron count data, the newly developed HCP prediction model was improved.

Quantitative Real-time PCR using Lactobacilli as Livestock Probiotics (Real-time PCR을 이용한 가축생균제용 유산균 정량분석)

  • Choi, Yeon-Jae;Kim, Sun-Ho;Gu, Min-Jeong;Choe, Han-Na;Kim, Dong-Un;Cho, Sang-Bum;Kim, Su-Ki;Jeon, Che-Ok;Bae, Gui-Seok;Lee, Sang-Seok
    • Journal of Life Science
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    • v.20 no.12
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    • pp.1896-1901
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    • 2010
  • This study was conducted using quantitative real-time PCR using Lactobacilli as probiotics. Quantitative real-time PCR (RT PCR) was conducted via a method involving SYBR Green 1 and a probe. Plasmid DNA was cloned using the 16S-23S rRNA intergenic species region. Gene clones were diluted from $10^2$ to $10^{10}$. Standard curves were constructed via Ct values obtained from the results of Real-time PCR via the aforementioned SYBR Green 1 and probe method. Plasmid DNA was also cloned using the 16S-23S rRNA intergenic species region and the gene clones were diluted from $10^2$ to $10^{10}$ copy numbers via the probe method. Using RT PCR, a standard curve of plasmid DNA copy numbers was also determined. The slope value for the Y-axis intercept and $R^2$ value were measured as -3.346, 33.18, and 0.993, respectively, via the first method. For the second method, the slope value for the Y-axis intercept and $R^2$ were -3.321, 31.10 and 0.995, respectively. The PCR inhibitor could not express the detection curve at a copy number over $10^{10}$ via either method, owing to high DNA density. The DNA extract from probiotics was diluted without pre-culturing, and 16 products were amplified via both methods. The Ct value was 11.06~18.12 in the first method and 16.74~22.11 in the second method. Measured probiotics and log copy values were largely similar among the methods used. It was concluded that both methods are effective for analysis, but further research will be required to verify the optimal method.

Bit Operation Optimization and DNN Application using GPU Acceleration (GPU 가속기를 통한 비트 연산 최적화 및 DNN 응용)

  • Kim, Sang Hyeok;Lee, Jae Heung
    • Journal of IKEEE
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    • v.23 no.4
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    • pp.1314-1320
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    • 2019
  • In this paper, we propose a new method for optimizing bit operations and applying them to DNN(Deep Neural Network) in software environment. As a method for this, we propose a packing function for bitwise optimization and a masking matrix multiplication operation for application to DNN. The packing function converts 32-bit real value to 2-bit quantization value through threshold comparison operation. When this sequence is over, four 32-bit real values are changed to one 8-bit value. The masking matrix multiplication operation consists of a special operation for multiplying the packed weight value with the normal input value. And each operation was then processed in parallel using a GPU accelerator. As a result of this experiment, memory saved about 16 times than 32-bit DNN Model. Nevertheless, the accuracy was within 1%, similar to the 32-bit model.

Problems of certificate status validation methods using hash chain and their countermeasure (해쉬체인을 이용한 인증서 상태 검증 방법들의 문제점과 해결 방법)

  • Kang, Hyun-Joong;Ahn, Jeong-Hee
    • Journal of the Korea Society of Computer and Information
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    • v.13 no.1
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    • pp.161-167
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    • 2008
  • As the authentication and the integrity methods based on the hash chain are popular, several certificate status validation methods based on the same function are proposd at the moment. In NOVOMODO, a CA generates and releases the hash value to each user. In Jianying Zhou's framework and Jong-Phil Yang's framework, a user generates and releases the hash value to verifier. Therefore, the CA loads are distributed to each user. However, these frameworks are based on the assumption that the CA's secret key is not lost or compromised and the certificates issued by the CA are error-free. Therefore, these frameworks are not suitable in real PKI environments. In this paper, as one hash value generated by CA is included in the user's certificate in addition, the certificate revocation published by CA using that value can be managed. The hash value included in user's certificate is the same for all users. The computation costs, the storage amounts and the release costs are small in the CA. And we modify the procedure for the signature and its validation in Jong-Phil Yang's framework. Our solution is more suitable than those frameworks in real PKI environments.

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Investigating the Monetary Value of Bus Arrival Time Information (실시간 버스도착정보의 가치 측정에 관한 연구)

  • Bin, Mi-Young;Kim, Hyo-Bin
    • Journal of Korean Society of Transportation
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    • v.23 no.6 s.84
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    • pp.81-89
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    • 2005
  • Real-time bus arrival information within the Bus Information System (BIS) is an invaluable resource for users that demand accurate and up-to-date bus headway information while waiting at a bus stop. The associated benefits of such a system come in two folds, that is to 1) resolve the psychological uncertainty caused by the lack of real-time bus arrival information and 2) empower the user waiting at bus stops with the ability to reliably coordinate various tasks and errands, such as a quick trip into a convenience store or restroom without fear of missing a bus pick-up. This paper discusses the appropriate methodology with which to measure the economic value of reliable bus arrival information, with particular emphasis on the psychological uncertainty in users associated with the lack of real-time headway information at bus stops. Data regarding bus transit users' willingness to pay for such a service is obtained through questionnaire surveys, and the Contingent Valuation Method is used to analyze and derive the associated economic value. Our findings indicate the monetary value associated with a real-time bus arrival information system is approximately 132.5 won/min at the 0.3 significance level.

Accuracy Analysis of Network-RTK(VRS) for Real Time Kinematic Positioning (실시간 이동 측위 적용을 위한 Network-RTK(VRS) 정확도 분석)

  • No, Sun-Joon;Han, Joong-Hee;Kwon, Jay Hyoun
    • Journal of the Korean Society of Surveying, Geodesy, Photogrammetry and Cartography
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    • v.30 no.4
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    • pp.389-396
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    • 2012
  • As the demand on the precise positioning for the moving objects has been increased in the various industry field, many studies have been conducted to analyze real time kinematic technique and its practical usage. The main purpose of this study is to analyze the possibility of Network-RTK(VRS) in real-time kinematic positioning. So, the accuracy analysis has been conducted by comparing the Network-RTK(VRS) position with respect to the RTK position. As a result, Network-RTK(VRS) based on kinematic positioning has centimeter level of RMS in the ideal environment compared to RTK positioning. However, when the integer ambiguities was lost, the accuracy of Network-RTK was meter level. At that time, the quality value has been changed dramatically and shows big correlation with accuracy. When the position and height quality values are within 0.1m, the RMS of the horizontal and vertical position appears better than 10cm and 20cm, respectively. However, if the quality value is over 0.1m, the RMS increases to larger than a meter. Therefore, it is recommended to check the quality value when conducting Network-RTK(VRS) kinematic positioning to get the centimeter level accuracy.