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REFERENCE LINKING PLATFORM OF KOREA S&T JOURNALS
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Journal of the Korean Operations Research and Management Science Society
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The Korean Operations and Management Science Society
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Volume & Issues
Volume 36, Issue 4 - Dec 2011
Volume 36, Issue 3 - Sep 2011
Volume 36, Issue 2 - Jun 2011
Volume 36, Issue 1 - Mar 2011
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Electronic Commerce and Environmental Welfare: An Analysis of Optimal Taxation
Lee, Sang-Ho ;
Journal of the Korean Operations Research and Management Science Society, volume 36, issue 1, 2011, Pages 1~11
This article examines the impact of electronic commerce on environmental welfare. In particular, we analyze a game model of price competition between offline and online firms when consumption taxes are imposed on both offline and online transactions that produce environmental pollution. We investigate the properties of optimal taxation between offline and online markets and demonstrate that there is an optimal difference between the two taxes, depending upon not only the transaction cost between offline and online consumption, but also the environmental damage cost. We also investigate the effect of tax-free online transactions on tax revenues, and the financial feasibility of the optimal taxation.
Spurious Mean-Reversion of Stock Prices in the State-Space Model
Choi, Won-Hyeok ; Jun, Duk-Bin ; Kim, Dong-Soo ; Noh, Jae-Sun ;
Journal of the Korean Operations Research and Management Science Society, volume 36, issue 1, 2011, Pages 13~26
In order to explain the U-shaped pattern of autocorrelations of stock returns i.e., autocorrelations starting around 0 for short-term horizons and becoming negative and then moving toward 0 for long-term horizons, researchers suggested the use of a state-space model consisting of an I(1) permanent component and an AR(1) stationary component, where the two components are assumed to be independent. They concluded that auto-regression coefficients derived from the state-space model follow a U-shape pattern and thus there is mean-reversion in stock prices. In this paper, we show that only negative autocorrelations are feasible under the assumption that the permanent component and the stationary component are independent in the state-space model. When the two components are allowed to be correlated in the state-space model, we show that the sign of the auto-regression coefficients is not restricted as negative. Monthly return data for all NYSE stocks for the period from 1926 to 2007 support the state-space model with correlated noise processes. However, the auto-regression coefficients of the ARIMA process, equivalent to the state-space model with correlated noise processes, do not follow a U-shaped pattern, but are always positive.
A Heuristic Algorithm for the Periodic Heterogeneous Fleet Vehicle Routing Problem
Yoon, Tae-Yong ; Lee, Sang-Heon ;
Journal of the Korean Operations Research and Management Science Society, volume 36, issue 1, 2011, Pages 27~38
In this paper, we deal with the periodic heterogeneous fleet vehicle routing problem (PHVRP). PHVRP is a problem of designing vehicle routes in each day of given period to minimize the sum of fixed cost and variable cost over the planning horizon. Each customer can be visited once or more times over the planning horizon according to the service combinations of that customer. Due to the complexity of the problem, we suggest a heuristic algorithm in which an initial solution is obtained by assigning the customer-day and the customer-car simultaneously and then it is improved. A performance of the proposed algorithm was compared to both well-known results and new test problems.
The Use of Local Outlier Factor(LOF) for Improving Performance of Independent Component Analysis(ICA) based Statistical Process Control(SPC)
Lee, Jae-Shin ; Kang, Bok-Young ; Kang, Suk-Ho ;
Journal of the Korean Operations Research and Management Science Society, volume 36, issue 1, 2011, Pages 39~55
Process monitoring has been emphasized for the monitoring of complex system such as chemical processing industries to achieve the efficiency enhancement, quality management, safety improvement. Recently, ICA (Independent Component Analysis) based MSPC (Multivariate Statistical Process Control) was widely used in process monitoring approaches. Moreover, DICA (Dynamic ICA) has been introduced to consider the system dynamics. However, the existing approaches show the limitation that their performances are strongly dependent on the statistical distributions of control variables. To improve the limitation, we propose a novel approach for process monitoring by integrating DICA and LOF (Local Outlier Factor). In this paper, we aim to improve the fault detection rate with the proposed method. LOF detects local outliers by using density of surrounding space so that its performance is regardless of data distribution. Therefore, the proposed method not only can consider the system dynamics but can also assure robust performance regardless of the statistical distributions of control variables. Comparison experiments were conducted on the widely used benchmark dataset, Tennessee Eastman process (TE process), and showed the improved performance than existing approaches.
The Effects of Accounting-Based Performance Feedback and Market-Based Performance Feedback on Technological Search
Park, Sung-Hee ; Park, Kyung-Min ;
Journal of the Korean Operations Research and Management Science Society, volume 36, issue 1, 2011, Pages 57~68
This paper examines how multiple performance feedbacks influence firm's technological search, using two types of indicators : accounting-based performance and market-based performance. Also we investigate how CEO's attention shift depends on firm specific factors such as firm size and outsider ownership. For empirical analysis, we utilized financial data on 675 manufacturing firms in Korea during the period between 1998 and 2009. The results show that technological search based on accounting-based performance feedback is moderated by focal firm's size. However, as outsider ownership increases, technological search increases in response to market-based performance feedback.
Buyer-Supplier Collaboration and Benefit-Sharing Strategy in a Supply Chain
Yoo, Seung-Ho ;
Journal of the Korean Operations Research and Management Science Society, volume 36, issue 1, 2011, Pages 69~84
In this study, based on the principal-agent paradigm, we investigate a joint cost reduction activity in a buyer-supplier supply chain where a buyer motivates its operations department and a supplier to reduce the supply chain's production cost. We construct a benefit-sharing model based on the target cost scheme, a basic philosophy in practice which has not been explored in previous studies. The model also incorporates various supply chain issues such as the cooperation of multiple agents, the opportunity loss, and the degree of strategic relationship between the buyer and the supplier. Based on the analysis of the principal-agent model, we investigate the benefit-sharing rule to control agents' actions, and we also provide important managerial implications into supply chain practices via extensive comparative static analyses.