• Title, Summary, Keyword: Social welfare maximization

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A Study on Supplier's Bidding Strategies including Operating Reserve inan Electricity Market (발전 예비력을 포함한 전력시장에서의 공급자 입찰전략 연구)

  • Shin Jae Hong;Choi Seok Keun;Lee Kwang Ho
    • Proceedings of the KIEE Conference
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    • pp.713-715
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    • 2004
  • In an electricity market with an imperfect competition, participants make plans of biddings and transaction strategies to maximize their own profits. The market price and the quantity are concerned with the operation reserve as well as the bidding system and demand curves in an electricity market. This paper presents a model of the combined market , energy market and operating teserve market. The Nash equilibrium is analyzed by using a hi-level optimization , maximization of Social welfare (SW) and maximization of the producers' profits.

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A Study on the Supplier's Bidding Strategy Including Operating Reserve in an Electricity Market (발전 예비력을 포함한 전력시장에서의 공급자 입찰전략 연구)

  • Lee Kwang-Ho;Shin Jae-Hong
    • The Transactions of the Korean Institute of Electrical Engineers A
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    • v.54 no.4
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    • pp.199-204
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    • 2005
  • In an electricity market with an imperfect competition, participants make plans of bidding and transaction strategies to maximize their own profits. The market price and the quantity are concerned with the operation reserve as well as the bidding system and demand curves in an electricity market. This paper presents a market model combined by an energy market and an operating reserve market. The competition of the generation producers in the combined market is formulated as a gaming of selecting bid parameters such as intersections and slopes in bid functions. The Nash Equilibrium(NE) is analyzed by using a hi-level optimization; maximization of Social Welfare(SW) and maximization of the producers' profits.

A Study on Reliability Differentiated Pricing of Firm Capacity

  • Kim, Balho H.
    • Journal of Electrical Engineering and Technology
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    • v.8 no.1
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    • pp.40-45
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    • 2013
  • It is known that Reliability Differentiated Pricing (RDP) can improve the efficiency and benefits of consumers and producers. This paper examines the long-run social welfare maximization problem of the utility and presents a long-term reliability differentiated prices for firm capacity, based on customer outage costs. Then the applicability of the proposed pricing scheme is verified with a case study.

A Basic Study on Strategy Development for Improving the Management of Multicultural Family Support Centers (다문화가족지원센터 운영활성화를 위한 전략개발 기초연구)

  • Kang, Ki Jung;Park, Su Sun;Son, Seohee
    • Journal of Korean Home Management Association
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    • v.31 no.4
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    • pp.33-45
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    • 2013
  • This paper proposes strategy development to improve the management of Multicultural Family Support Centers by analyzing four Multicultural Family Support Centers (MFSCs) in Chungcheongnam-do. The research was conducted from September 2012 to January 2013. Future directions for the four MFSCs are established based on a SWOT analysis on both the internal and external environments of the centers. Various strategic directions for the four MFSCs were identified based on these analyses. For center A (urban type, college contract type), the strategic directions included the specialization strategy, systemization strategy, empowerment strategy, standardization strategy, and achievement maximization strategy. The strategic directions for center B (urban-rural combined type, social welfare center contract type) included the improvement of multiculture awareness, specialization strategy, human resource development strategy, and networking strategy. For center C (farming and fishing community type, direct management type by local authority), the strategic directions included the specialization strategy, activation strategy, qualification strategy, and networking strategy. For center D (farming and fishing community type, social welfare center contract type), the strategic directions included the specialization strategy, business standardization strategy, human resource development strategy, and network expansion strategy. The suggested management strategy development for the four MFSCs can provide implications for the management of MFSCs in other areas in Korea.

Influential Factors of Social Entrepreneurial Intention in Bangladesh

  • AKHTER, Ayeasha;HOSSAIN, Md. Uzzal;ASHEQ, Ahmed Al
    • The Journal of Asian Finance, Economics, and Business
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    • v.7 no.8
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    • pp.645-651
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    • 2020
  • The concept of social entrepreneurship (SE) is gaining attention in developing economies for the purpose of greater societal welfare maximization. Still, findings in the field of SE studies have been riddled with conflicting results and counterstatement. Also, the determinants of developing SE are not robustly investigated in developing economies like Bangladesh. This context has mobilized the authors of this current study to focus on determining student's intention to pursue SE as their career choice. Hence, the study aims to examine the predictive determinants of social entrepreneurial intentions (SEI) among Bangladeshi students. The study has investigated the influence of entrepreneurial self-efficacy, social support, prior experience, and educational support on SEI. The survey was conducted from a public university of Bangladesh, and 231 students participated in the study. Questionnaire items under each construct variable have been adopted from pre-tested research studies. Five-point Likert scale questionnaire was applied to measure the variables. SPSS version 23.0 has been used for statistical analysis through which correlation and multiple regression analysis were conducted to measure the impact of the independent variables on SEI. Results exhibited that self-efficacy, social support, and educational support positively and significantly predicted SEI, while prior experience does not influence SEI.

The analysis of nodal prices in the optimal power flow including a load model and the congestion of transmission lines (부하모델과 송전선로 혼잡을 고려한 최적조류계산의 모선가격 분석)

  • Kim, Moon-Young;Baek, Young-Sik;Song, Kyung-Bin
    • Proceedings of the KIEE Conference
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    • pp.425-427
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    • 2002
  • In a deregulated power market, a load model considered the characteristics of electric consumers is required and the congestion management of transmission lines should be resolved in a point of economic benefits. It is essential that the optimal power flow algorithm is applied to manage transmission line congestion. Therefore, in this paper, we implement the optimal power flow with object function of social welfare maximization based linear programming and analysis the nodal prices for generations and loads through a numerical study.

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An Analysis of Delivery Service in Electronic Commerce (전자상거래에서의 번들링 상품으로서의 택배서비스에 관한 분석)

  • Song Jae-do;Chun Se-hak;Joo Ji-ho;Kim Jae-cheol
    • Korean Management Science Review
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    • v.21 no.3
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    • pp.13-22
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    • 2004
  • We discuss that the proliferation of new types of retailers such as Internet shopping malls. home shopping systems, which use telecommunication media as means of providing information of products. makes delivery service generally available. Then. we show that the delivery service can be used strategically for profit maximization by intentionally homogenizing consumers and. furthermore, social welfare generally increases by this delivery service unless the cost of delivery service is higher than that of all consumer groups.

Productive Welfare and Re-inspection of Asian Values in Korea (한국의 생산적 복지와 아시아 가치의 재조명)

  • Kim, Yil-Jung
    • 한국사회복지학회:학술대회논문집
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    • pp.847-865
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    • 2000
  • In a broad range of socio-economic and political systems, we could be able to say that the common and highest goal of all nations is the well-being of the people. From this point of view, it can be seen that two significant historic developments were achieved in the 20th century. One was the maximization of productivity through the socially efficient distribution of resources and the other was the concept of national welfare, which assumes social responsibility for the basic livelihood of human beings. In this point, it is need not only to strengthen economic wealth, but also to redistribute resources equitably. Efficiency and equity, economic and growth, and national welfare emphasize the above-mentioned principle, but they are deeply interdependent in that the well-being of the people cannot be guaranteed in the presence of only one of those. This study aims to find out the equilibrium point those problems in the productive welfare policy in Korea. Finally, it is necessary to develop productive welfare systems in order to solve the issues well.

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A Study on the Optimal City Park Planning by Using Social Welfare function (사회후생함수를 이용한 최적 도시공단 계획에 관한 연구)

  • 서주환
    • Journal of the Korean Institute of Landscape Architecture
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    • v.16 no.3
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    • pp.1-6
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    • 1989
  • The current linear programming model as for city park planning has the following intrinsic constraints. First of all, it cannot explicity consider choice behaviors of people. Secondly, the objective function of linear programming model cannot sufficiently intergrate satisfactions of people. In order to overcome these weak points of linear programming model, the following extensions have been made in this paper. First of all, bionominal and multinominal logit models based upon logit models, utility maximization of people have been constructed, Secondly, based upon logit models, social welfare function has been constructed in order to aggregate satisfactions of people. By doing this, intrinsic oonstraints of linear programming model have been successfully overcome. In the future research, empirical study of the model developed in this paper will be necessary. By doing this, the construction of optimal investment plan for city parks will be possible.

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An Estimation of the Congestion Tolls Considering External Costs in Seoul (외부비용을 반영한 도시내 도로의 혼잡통행료 추정: 서울시를 대상으로)

  • PARK, Chanwoon;KIM, Sungsoo
    • Journal of Korean Society of Transportation
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    • v.33 no.6
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    • pp.520-530
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    • 2015
  • This paper formulates the methodologies to estimate optimal congestion tolls from long-run and short-run perspectives and applies them to the highways of Seoul. An optimal long-run congestion toll is estimated with an optimal volume-capacity-ratio to minimize the total costs which consist of two components: road construction and maintenance costs and traveler costs. By contrast, an optimal short-run congestion toll is estimated with a supply-demand equilibrium which is determined by using a speed-flow function and a disaggregate modal choice model. The results of a long-run analysis for the Seobu urban expressway suggest the optimal volume-capacity-ratio of 1.35 and the optimal congestion toll of 503 Won per automobile kilometer. By contrast, those of a short-run analysis for the Mia-ro urban arterial suggest 1.31 and 420 Won, respectively. Although our results are to some degree dependent on the interest rate and time value assumed, one basic conclusion holds up: the congestions toll tested could generate substantial gains in social welfare if applied to Seoul.