• Title, Summary, Keyword: Social welfare maximization

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An Economic Approach to the Rational Development and Use of Marine Resources (II) (해양자원의 합리적 개발.이용에 관한 경제학적 연구(II))

  • 유동운
    • The Journal of Fisheries Business Administration
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    • v.14 no.1
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    • pp.19-43
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    • 1983
  • Mankind has made traditional use of various ocean resources in such several forms as fish, plants food, means of transportation, and military purpose, followed by the recent exploitation of offshore subsoil or sea-bed minerals, energies, and utilization of ocean space. These available ocean resources come from the marine natural environment which has a distinct feature in view of the relationship between human wants and their capacity to meet them. Though these socially basic resources however bring forth the so-called scarcity or differential rent, their communal nature of ownership dissipates free gifts of nature endowed to society as a whole. Thus to maximize these rents and social welfare thereof, rents should be secured and preserved through a well-defined arrangements of property-ownership as well as appropriate comparison of competing uses of marine resources, taking full cognizance of their irreversible adverse effects of a specific choice on the alternatives. Here I showed the sources of rent yielded from the multiple uses of navigation, fishery, mariculture, minerals, and recreation site, and also summarized the presently widely-known analytic tool to measure these rents with emphasis on due care of the telescopic faulty of the appraiser in charge, viewed from the communal point, Finally, as communal property is in strict sense owned by the public at large, notwithstanding the restricted communal ownership at government or local governments control, effectiveness of competition I expect should be kept while transferring claims of these resources from the legal owner to private enterprise as well as while extracting their rent by her. In particular, various national or social objectives look forward to tile maximization of social efficiency. Discretionary system in noncompetitive method thus, is exceptionally suggested because of probable suspicion from the public whether these resources are transferred as a give away or not in discretion. And these realized rent payments, I propose, should be wisely taken advantage of in advancement of scientific research in marine nature to bring an incremental rent therefrom successively.

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Optimal Road Congestion Pricing under Inter-dependent Market Conditions (Theoretical Review) (상호의존적 교통시장하의 최적 도로혼잡통행료 연구(이론적 고찰))

  • Yun, Jang-Ho;Yeo, Hong-Gu
    • Journal of Korean Society of Transportation
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    • v.24 no.7
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    • pp.139-148
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    • 2006
  • In order to incorporate substitution effects between different transport modes in optimal road Pricing, relating economic theories and models have been reviewed. It includes unconstrained optimization problem of maximizing separable and non-separable social net benefit functions of different substitutable urban transport modes. In doing that, the problem and limitations such as path-independent conditions with the asymmetric Jacobian of the objective function have been reviewed. Consequently, a plausible way of deriving optimal road price under interdependent market conditions has been suggested so that the idea can help identifying desirable and acceptable urban transport policy alternatives in a more comprehensive way.

Two-Stage Model for Security Network-Constrained Market Auction in Pool-Based Electricity Market

  • Kim, Mun-Kyeom
    • Journal of Electrical Engineering and Technology
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    • v.12 no.6
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    • pp.2196-2207
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    • 2017
  • This paper presents a two-stage market auction model in a pool-based electricity market, which explicitly takes into account the system network security. The security network-constrained market auction model considers the use of corrective control to yield economically efficient actions in the post-contingency state, while ensuring a certain security level. Under this framework, the proposed model shows not only for quantifying the correlation between secure system operation and efficient market operation, but also for providing transparent information on the pricing system security for market participants. The two-stage market auction procedure is formulated using Benders decomposition (BD). In the first stage, the market participants bid in the market for maximizing their profit, and the independent system operator (ISO) clears the market based on social welfare maximization. System network constraints incorporating post-contingency control actions are described in the second stage of the market auction procedure. The market solutions, along with the BD, yield nodal spot prices (NSPs) and nodal congestion prices (NCPs) as byproducts of the proposed two-stage market auction model. Two benchmark systems are used to test and demonstrate the effectiveness of the proposed model.

The Effect of Job Stress and Burnout by Job Environment of Care-givers on Job Satisfaction (요양보호사의 직무환경에 따른 직무스트레스와 소진이 직무만족에 미치는 영향)

  • Jeong, Yun-Mo;Kang, Young-Sig
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.11 no.10
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    • pp.3688-3699
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    • 2010
  • The purpose of this study is to understand attributes, stress and burnout related to job environment of healthcare facilities workers for the aged, care-givers, analyze the effect of these factors on job satisfaction, and improve their organizational task to help advance the quality of life and the healthcare facilities for the aged. A survey was made on 129 care-givers working in the healthcare facilities for the aged(care facilities, in-home facilities for the aged) located in Jeonbuk Gunsan area. This study showed that sub-factors of care-givers' job environment such as human environment, compensation system and job expertise have a significant effect on the job burnout, stress and satisfaction. This means that a well-organized compensation system, which is proportionate to the job expertise and ability for human environment, and achievement of innovative thinking, will make a positive relationship, reduce the job burnout and stress, and improve the job satisfaction at the same time. Compared to the rapid increase of old aged patients for long-term care and care-givers' real role and job in the facilities, the job specialization has to be guaranteed to improve job environment of care-givers as various beneficial workers for welfare - professional workers - and the compensation system needs to be properly systematized according to their job capacity. Consequently, the production and participation of professionals with high self-esteem may raise organizational commitment through the maximization of job satisfaction by the participation and devotion to the organization of more professionals by removing factors, which can reduce the frequent job burn-out and stress of care-givers.