• KDI Journal of Economic Policy
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• v.36 no.4
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• pp.1-32
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• 2014

Auction is widely used in allocation and procurement of resources due to its desirable properties: efficiency and revenue maximization. It is well-known, however, that auction may fail to achieve efficiency when allocative externalities exist. Such a result may happen in the auction of the resources that are very scarce, for example, radio spectrum. This is because allocation of the resources has effects on competition of the firms in the aftermarket, and thus a firm that utilizes the resources less efficiently may make a higher bid to lessen competition. This paper shows first that efficient allocation may not be achieved by auction even when the number of bidders is 2, while it is shown in the literature that auction may result in inefficient allocation when the number of bidders is greater than or equal to 3. There exist 2 firms, who make a bid to win the scarce resources that increase the value or decrease the production cost of their own product. After the auction ends, the firms engage in Bertrand competition on the Hotelling line. Inefficient allocation may happen even under the second-price auction rule, and it happens only when the firms are different in the initial value or the initial cost of their products as well as in the value of the auctioned resources. The firm who has been the leader loses a large portion of the market if it fails to win the auction, and thus makes a high bid even when the other firm can use the resources more efficiently. Allocative efficiency Pareto improves when the smaller firm's bid counts more than the leader's bid. This paper suggests a modified rule that the smaller firm wins the auction when its bid multiplied by some constant is greater than the leader's bid. The multiplier can be calculated from the market shares. It is equal to 1 when the two firms are the same, and is increasing in the leader's market share. Allocation is efficient in a strictly larger set of parameters under the modified rule than under the standard second-price auction rule.

• The Korean Journal of Financial Management
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• v.20 no.2
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• pp.95-126
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• 2003

This paper introduces multifractal processes and presents the empirical investigation of the multifractal asset pricing. The multifractal stock price process contains long-tails which focus on Levy-Stable distributions. The process also contains long-dependence, which is the characteristic feature of fractional Brownian motion. Multifractality introduces a new source of heterogeneity through time-varying local reqularity in the price path. This paper investigates multifractality in stock prices. After finding evidence of multifractal scaling, the multifractal spectrum is estimated via the Legendre transform. The distinguishing feature of the multifractal process is multiscaling of the return distribution's moments under time-resealing. More intensive study is required of estimation techniques and inference procedures.

• Journal of the Korean Society for Marine Environment & Energy
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• v.18 no.4
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• pp.304-309
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• 2015

To evaluate the degree of contamination caused by oil spill accident in the sea, the in-situ sensors which are based on the scientific method are needed in the real site. The sensors which are based on the fluorescence detection theory can provide the useful data, such as the concentration of oil. However these kinds of sensors commonly are composed of the ultraviolet (UV) light source such as UV mercury lamp, the multiple excitation/emission filters and the optical sensor which is mainly photomultiplier tube (PMT) type. Therefore, the size of the total sensing platform is large not suitable to be handled in the oil spill field and also the total price of it is extremely expensive. To overcome these drawbacks, we designed the fluorimeter for the oil spill detection which has compact size and cost effectiveness. Before the detail design process, we conducted the experiments to measure the excitation and emission spectrum of oils using five different kinds of crude oils and three different kinds of processed oils. And the fluorescence spectrometer were used to analyze the excitation and emission spectrum of oil samples. We have compared the spectrum results and drawn the each common spectrum regions of excitation and emission. In the experiments, we can see that the average gap between maximum excitation and emission peak wavelengths is near 50 nm for the every case. In the experiment which were fixed by the excitation wavelength of 365 nm and 405 nm, we can find out that the intensity of emission was weaker than that of 280 nm and 325 nm. So, if the light sources having the wavelength of 365 nm or 405 nm are used in the design process of fluorimeter, the optical sensor needs to have the sensitivity which can cover the weak light intensity. Through the results which were derived by the experiment, we can define the important factors which can be useful to select the effective wavelengths of light source, photo detector and filters.

• Korean Business Review
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• v.11
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• pp.101-122
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• 1998

This study is to analyze the effect of product involvement on consumer purchase process. From review on previous involvement literatures, enduring product involvement can be defined as "a person's arousal and motivational state activated by product on the basis of his basic value, objective and ego-relevance." To evaluate the effect of involvement on product purchase process, 11 hyphotheses concerning behavioral aspects which is expected to comprise consumer purchase process and to be influenced by degree of involvement were constructed: prepurchase information search, alternative brand comparision, utilization of product attribute, brand differentiation, brand commitment, product knowledge, influence of reference group, dependence on price, price awareness, cognitive dissonance and purchase optimization. Hyphotheses are tested with data from 388 housewives through 20 item involvement scale developed with multi-dimensional perspective on involvement. The scale successfully provides rank order of 8 selected products expected to cover the spectrum of product involvement: formal clothes, coffee, washing machine, shampoo, perfume, detergent, soft drink, pain-reliever as the order of product involvement. Major findings of this study are as follow. First of all, incresed differences were found in hihg involvement product like formal clothes with respect to the degree of prepurchase information search, alternative brand comparision, utilization of product attribute, influence of reference group in any method of analysis. Secondly, invlovement should be interpreted as a consumer characteristic rather than a product one. This means that consumers involve themselves with products, instead products themselves do not have any involvement.

• KOREAN JOURNAL OF CROP SCIENCE
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• v.57 no.3
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• pp.296-300
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• 2012

Discrimination of geographic origin of agricultural products is a important issue in Korea because the price difference between Korean domestic and imported cereals is a key among some reasons. NIRS (Near Infrared Reflectance Spectroscopy) has been applied to classify the geographical origin of soybeans. Total 135 samples (Korean domestic 92 and foreign 43) were used to obtain calibration equation through 400~2,500 nm wavelength. The math treatment with 1st derivative and 4 nm gap and the modified partial least squares(MPLS)regression was outstanding for calibration equation. The standard error of calibration and determination coefficient in calibration set(n=115) was 6.65 and 0.98, respectively. And it showed that the extra 20 samples for validation equation were identified their authentication correctly. This study describes that the application of NIRS would be possible for discrimination of geographical origin between Korean domestic and imported soybeans.

• The Proceeding of the Korean Institute of Electromagnetic Engineering and Science
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• v.17 no.3 s.59
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• pp.63-73
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• 2006

Auctions have been traditionally used to find the current price of goods when little is known about their true value. A special auction methodology, called a 'simultaneous multiple round auction', is available to auction radiofrequency spectrum where all lots are simultaneously on of for over multiple rounds of bidding. This type of auction is especially useful when there are lots that are of essentially equal value and substitutable, except that different bidders may prefer different combinations of lots. By using multiple rounds, a bidder has the opportunity to gather information concerning the value of individual lots and can change strategy by shifting the bidding to another preferred combination if one combination becomes too expensive. Information is released in three main ways during an auction: Bidder Status; High Bids; and Bandwidth Value.

• Korean Journal of Heritage: History & Science
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• v.53 no.4
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• pp.136-149
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• 2020

It is generally believed that Douglas Fir timber imported from North America is used in repair work for Korean wooden heritage sites due to an insufficient supply of extra-large sized Korean pine timber. Based on this understanding in the cultural heritage repair field, Cultural Heritage Repair Business Entities ("CHRBE") prefer North American Douglas Fir timber which is more easily acquired on the market than large Korean pine timber. However, if CHRBE use large quantities of foreign-origin wood in the heritage repair field, this presents the threat of negative domestic impacts on cultural heritage such as breaching the preservation principal and ultimately weakening material authenticity. Therefore, this study aims to investigate the current supply status of large Korean pine timber through examination of existing research, interviews with experts engaged in CHRBE, and timber mills. With this information, the authors seek to identify whether the market supply of large Korean pine timber is indeed insufficient or not. In addition to this, this paper identifies the reasons why large Korean pine timber is not widely used if such timber supply is actually sufficient. In order to propose suggestions regarding the issues above, the authors study the distribution channel for large Korean pine timber and the price spectrum of this timber through examination of price information from the public agencies under the Korea Forest Service, research papers from the Cultural Heritage Administration, and estimation documents from timber mills. This paper also identifies two main opinions about why Korean timber has not been commonly used in the Korean heritage repair field. The first opinion is that the supply of large Korean pine timber really is insufficient in Korea. However, the second opinion is that it is hardly used due to inappropriateness of the government's procurement and estimation system, despite the fact that the supply of the timbers on the market is actually sufficient. Through the aforementioned research, this paper comes to the conclusion that the second opinion has strong grounds in many aspects. In terms of suggestions, alternative routes are proposed to stimulate the use of large Korean pine timber via supply by the 'Korea Foundation for Traditional Architecture and Technology' and surveys of the price spectrum of the timber, etc.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.14 no.6
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• pp.2709-2734
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• 2020

The growing demand to make wireless data services 5G compatible has necessitated the development of an energy-efficient approach for an effective new wireless environment. In this paper, we first propose a cognitive sensor node (CSN) based game theory for deriving energy via a primary user-transmitted radio frequency signal. Cognitive users' time was segmented into three phases based on a time switching protocol: energy harvest, spectrum sensing and data transmission. The proposed model chooses the optimal energy-harvesting phase as the effected factor. We further propose a distributed energy-harvesting model as a utility function via pricing techniques. The model is a non-cooperative game where players can increase their net benefit in a selfish manner. Here, the price is described as a function pertaining to transmit power, which proves that the proposed energy harvest game includes Nash Equilibrium and is also unique. The best response algorithm is used to achieve the green connection between players. As a result, the results obtained from the proposed model and algorithm show the advantages as well as the effectiveness of the proposed study. Moreover, energy consumption was reduced significantly (12%) compared to the benchmark algorithm because the proposed algorithm succeeded in delivering energy in micro which is much better compared to previous studies. Considering the reduction and improvement in power consumption, we could say the proposed model is suitable for the next wireless environment represented in 5G.

• Journal of Satellite, Information and Communications
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• v.8 no.1
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• pp.8-13
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• 2013

It is necessary to develop the next generation FTS which is suitable for our environment and effectively operates many launch vehicles. Standard tone, Secure tone, MHA, EFTS and DSSS are studied for the next generation FTS. FTS requires a high quality of performance and reliability because of their specific mission. And few FTSs are needed but the price is very expensive. Therefore we must investigate a part of the FTS whether the part can be reused for a part of the next FTS. In this paper, we use CCDF of the transmitted signal from FTS as the method to study a possibility of reusing HPA used in the present system. The simulation results show that PEP of Standard tone is 0.21dB and Secure tone and MHA has the same PEP. CPFSK's PEP is 1.81dB and PEP of DSSS using BPSK modulation is 2.6dB.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.11 no.11
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• pp.5301-5323
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• 2017

Small cell deployment offers a low-cost solution for the boosted traffic demand in heterogeneous cellular networks (HCNs). Besides improved spatial spectrum efficiency and energy efficiency, future HCNs are also featured with the trend of network architecture convergence and feasibility for flexible mobile applications. To achieve these goals, dual connectivity (DC) is playing a more and more important role to support control/user-plane splitting, which enables maintaining fixed control channel connections for reliability. In this paper, we develop a tractable framework for the downlink SINR analysis of DC assisted HCN. Based on stochastic geometry model, the data-control joint coverage probabilities under multi-frequency and single-frequency tiering are derived, which involve quick integrals and admit simple closed-forms in special cases. Monte Carlo simulations confirm the accuracy of the expressions. It is observed that the increase in mobility robustness of DC is at the price of control channel SINR degradation. This degradation severely worsens the joint coverage performance under single-frequency tiering, proving multi-frequency tiering a more feasible networking scheme to utilize the advantage of DC effectively. Moreover, the joint coverage probability can be maximized by adjusting the density ratio of small cell and macro cell eNBs under multi-frequency tiering, though changing cell association bias has little impact on the level of the maximal coverage performance.