• Title/Summary/Keyword: Cost-benefit analysis

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Effects of Technology-Based Self-Service (TBSS) Ordering and Delivery Service on Customer Satisfaction and Repurchasing Decision (TBSS를 이용한 주문, 배송서비스가 고객만족도 및 재구매 의도에 미치는 영향)

  • Park, Kwan-Soo;Choi, Hwa-Yeol
    • Management & Information Systems Review
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    • v.31 no.4
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    • pp.309-337
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    • 2012
  • This study aims to suggest theoretical models and background for the analysis of antecedent factors such as customer satisfaction and repurchasing decision by use of Technology-Based Self-Service (TBSS) delivery service. Specifically, the study have focused on the analysis that after the values of customer satisfaction and repurchasing decision were transformed into the values of Cost-Benefit analysis and then compared with the values of result benefits, process benefits, financial costs and non-financial costs. After analysis, it was found that ordering and delivery service by use of TBSS has a positive influence on customer satisfaction in terms of result benefits, process benefits, time savings and financial cost savings. In addition, it was confirmed that sub-category of customer satisfaction such as overall satisfaction, satisfaction for expectations, satisfaction for ideals has also a positive impact on repurchasing decision. It is expected that the results of this study will help analyze the customer satisfaction and repurchasing decision and provide a practical help for a business.

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Analysis of importance by category for quantitative economic evaluation of multi-utility tunnel (공동구의 정량적 경제성 평가를 위한 항목별 중요도 분석)

  • Cho, Choong-yeun;Sim, Young-Jong;Kim, Hun-kyom;Lee, Pil-yoon;Lee, Min-jae
    • Journal of Korean Tunnelling and Underground Space Association
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    • v.20 no.1
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    • pp.119-130
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    • 2018
  • The VE/LCC study on the existing multi-utility tunnel examined the economical feasibility of the collective area through the cost-benefit analysis of the ten major routes of Seoul for the benefit (7 items) and the cost (5 items) through quantitative methods. In this paper, we analyzed the economic efficiency of 61 sectors by adding 3 items (reduced traffic accident, reduced vehicle noise, social-economic loss). The reduced traffic accident item is an improvement of the traffic accident cost that can be saved by the implementation of the project, and the reduced vehicle noise item is an indicator of the amount of noise change caused by the implement of the business. Finally, the social-economic loss items represent the impact on the local economy due to the construction of the multi-utility tunnel. The amounts of the additional items were compared and items added in the open type and tunnel type multi-utility tunnel were analyzed for each analysis. Result on the analysis, it analyzed the items applied to the basic and detail models in the economic evaluation of the multi-utility tunnel design, and makes it possible to evaluate the economic efficiency more efficiently. The economic evaluation of the basic and detailed models including the items presented in this study will be often used in the design of the multi-utility tunnel design.

Economic Feasibility Analysis of Applepear(Ping Guo Li) Farm Development in Yanbian Area in China ('사과배' 원 조성사업의 경제적 타당성분석 - 중국 연변지역을 중심으로 -)

  • Zhao, Lan-Hua;Lim, Jae-Hwan
    • Korean Journal of Agricultural Science
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    • v.29 no.1
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    • pp.55-65
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    • 2002
  • The most representative fruit in Yanbian area is Applepear(Ping Guo Li). It has been a important resource of farm income. According to the economic growth and income Increase of individual consumers, food consumption pattern will be changed from grain to high value cash crops such as Applepear and vegetables. The globalization and adapt ion of free market oriented economic policy of China government have led to change the collective farming system to individual farm management system. The institutional transformation have brought about high productivity of farm products and incomes of farmers. Therefore the plantation area of Applepear and requirement of investment cost for establishment of Applepear farms have increased rapidly since the 1980's, the time of perestroika and glasnost in Chinese economy. In prosperity of Chinese agriculture, individual farmer's decision making as free selection of farmland use, selection of high pay-off crops, free sale of the products in free market and credit support for the project might be the most important factors. In case of Applepear farm development, net present value of the project net benefit was estimated at 55.518won per hectare and financial rate of return was 21%. The benefit/cost ratio of the project was 2.11. Considering 10% of discounting rate or the opportunity cost of capital in China the Applepear farm development project showed us economically feasible in the light of the above efficiency indices. The Chinese government has to support Applepear farm development project financially and institutionally considering the high-payoff benefit of the fruit and farmer's in come increase in the future.

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A Study on the Subside Policy of District Heating CHP System in a Competitive Electricity Market (전력분야 경쟁도입에 따른 열병합발전소 지원정책 고찰)

  • Kim, C.S.;Rhee, C.H.;Jo, I.S.
    • Proceedings of the KIEE Conference
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    • 2003.07a
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    • pp.661-663
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    • 2003
  • Electric generation cost in district Heating CHP system has close relationship with the level of heating price. So far, the calculation of CHP generation cost has been based on cost recovery system in which revenue requirement deducted the revenue from heating-sales. The restructuring of electricity industry determines the market-clearing price every hour and made it impossible that the loss due to the above market cost can be attributed to the generation cost. Hence, the loss is compensated by energy subsidy program in public benefit charge. This analysis derives an efficient action plan for future subsidy program.

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Analysis on Non-Market Benefit of Port Re-Modeling Factor Using AHP (AHP를 이용한 항만 리모델링 비시장적 편익요인 분석연구)

  • Yang, Chang-Ho;Yeo, Gi-Tae;Jung, Hyun-Jae;Kim, Ho-Kyun;Son, Yoo-Lee
    • Journal of Korean Society of Coastal and Ocean Engineers
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    • v.23 no.1
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    • pp.57-62
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    • 2011
  • At this point that port industry brings a new change as the concept of 'Green Logistics' appears, studies on an economic analysis of existing port Re-modeling have normally been conducted focused on market value factors such as Benefit-Cost analysis, On the other hand, there have been few studies on the analysis of Non-market value factors such as environmental value. Therefore, the purpose of this study is aimed to establish a Feasibility analysis model of Incheon inner port Re-modeling in the aspect of Non-market Benefit Factors classified by related factors such as, marine environment, waterfront facility and welfare of users by using AHP methodology based on the extracted result through previous studies.

Effectiveness Analysis and Application of Phosphorescent Pavement Markings for Improving Visibility (축광노면표시 시인성 개선에 따른 경제성 분석 및 적용방안)

  • Yi, Yongju;Lee, Kyujin;Kim, Sangtae;Choi, Keechoo
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.37 no.5
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    • pp.815-825
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    • 2017
  • Visibility of lane marking is impaired at night or in the rain, which thereby threatens traffic safety. Recently, various studies and technologies have been developed to improve lane marking visibility, such as the extension of lane marking life expectancy (up to 1.5 times), improvement of lane marking equipment productivity, improvement of lane marking visibility by applying phosphorescent material mixed paint. Cost-benefit analysis was performed with considering various benefit items that can be expected. About 45% of traffic accidents would be prevented by improving lane marking visibility. Additionally, accident reduction benefit and traffic congestion reduction benefit were calculated as much as 246 billion KRW per year and 12 billion KRW per year, respectively, by reducing repaint cycle due to enhanced durability. 45 billion KRW per year is expected to reduced with improved lane detection performance of autonomous vehicle. Meanwhile, total increased cost when introducing phosphorescent material mixed paint to 91,195km of nationwide road is identified as 1922 billion KRW per year. However, economic feasibility could not be secured with 0.16 of cost-benefit ratio when applied to the road network as a whole. In case of "Accident Hot Spot" analyzing section window (400m), one or more fatality or two or more injured (one or more injured in case of less than 2 lanes per direction) per year were caused by pavement marking related accident, economic feasibility was secured. In detail, 3.91 of cost-benefit ratio is estimated with comparison of the installation cost for 5,697 of accident hot spot and accident reduction benefit. Some limitations and future research agenda have also been discussed.

Calculation of optimal design flood using cost-benefit analysis with uncertainty (불확실성이 고려된 비용-편익분석 기법을 도입한 최적설계홍수량 산정)

  • Kim, Sang Ug;Choi, Kwang Bae
    • Journal of Korea Water Resources Association
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    • v.55 no.6
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    • pp.405-419
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    • 2022
  • Flood frequency analysis commonly used to design the hydraulic structures to minimize flood damage includes uncertainty. Therefore, the most appropriate design flood within a uncertainty should be selected in the final stage of a hydraulic structure, but related studies were rarely carried out. The total expected cost function introduced into the flood frequency analysis is a new approach for determining the optimal design flood. This procedure has been used as UNCODE (UNcertainty COmpliant DEsign), but the application has not yet been introduced in South Korea. This study introduced the mathematical procedure of UNCODE and calculated the optimal design flood using the annual maximum inflow of hydroelectric dams located in the Bukhan River system and results were compared with that of the existing flood frequency. The parameter uncertainty was considered in the total expected cost function using the Gumbel and the GEV distribution, and the Metropolis-Hastings algorithm was used to sample the parameters. In this study, cost function and damage function were assumed to be a first-order linear function. It was found that the medians of the optimal design flood for 4 Hydroelectric dams, 2 probability distributions, and 2 return periods were calculated to be somewhat larger than the design flood by the existing flood frequency analysis. In the future, it is needed to develop the practical approximated procedure to UNCODE.

Estimation of Environmental Costs Based on Size of Oil Tanker Involved in Accident using Neural Network (신경망을 이용한 유조선 기름 유출사고에 따른 환경비용 추정에 관한 연구)

  • Shin, Sung-Chul;Bae, Jeong-Hoon;Kim, Hyun-Soo;Kim, Seong-Hoon;Kim, Soo-Young;Lee, Jong-Kap
    • Journal of Ocean Engineering and Technology
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    • v.26 no.1
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    • pp.60-63
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    • 2012
  • The accident risks in the marine environment are increasing because of the tendency to build faster and larger ships. To secure ship safety, risk-based ship design (RBSD) was recently suggested based on a formal safety assessment (FSA). In the process of RBSD, a ship designer decides which risk reduction option is most cost-effective in the design stage using a cost-benefit analysis (CBA). There are three dimensions of risk in this CBA: fatality, environment, and asset. In this paper, we present an approach to estimate the environmental costs based on the size of an oil tanker involved in an accident using a neural network. An appropriate neural network model is suggested for the estimation,and the neural network is trained using IOPCF data. Finally,the learned neural network is compared with the cost regression equation by IMO MEPC 62/WP.13 (2011).

Theory and Methods for the Evaluation of Environmental Resources (환경자원의 가치평가 이론과 주요 방법)

  • Kim, Joon-Soon
    • Journal of Forest and Environmental Science
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    • v.19 no.1
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    • pp.108-123
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    • 2003
  • The importance of environmental resources has been recognized over the world after Rio declaration(1992). so it is moved to monetarize environmental resources. The studies on the evaluation of nonmarket goods began also in the early 1990 in Korea. In practice the preliminary feasibility studies(PFS) are carried out since 1999 in case of major public investments projects. In PFS the Benefit-Cost analysis is practically used. which is considering the evaluation of environmental resources. But the methods for the evaluation have not been fixed up. In this study It is introduced to the theory and major methods for the evaluation of environmental resources. In the theory the evaluation is handled in aspect of demand function and supply function. The optimum level can be extracted from the two functions. In the method. travel cost method(TCM), hedonic price method(HPM) and contingent valuation method(CVM) are introduced according to the market structures.

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Therapeutic lumbar facet joint nerve blocks in the treatment of chronic low back pain: cost utility analysis based on a randomized controlled trial

  • Manchikanti, Laxmaiah;Pampati, Vidyasagar;Kaye, Alan D.;Hirsch, Joshua A.
    • The Korean Journal of Pain
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    • v.31 no.1
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    • pp.27-38
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    • 2018
  • Background: Related to escalating health care costs and the questionable effectiveness of multiple interventions including lumbar facet joint interventions, cost effectiveness or cost utility analysis has become the cornerstone of evidence-based medicine influencing coverage decisions. Methods: Cost utility of therapeutic lumbar facet joint nerve blocks in managing chronic low back pain was performed utilizing data from a randomized, double-blind, controlled trial with a 2-year follow-up, with direct payment data from 2016. Based on the data from surgical interventions, utilizing the lowest proportion of direct procedural costs of 60%, total cost utility per quality adjusted life year (QALY) was determined by multiplying the derived direct cost at 1.67. Results: Patients in this trial on average received $5.6{\pm}2.6$ procedures over a period of 2 years, with average relief over a period of 2 years of $82.8{\pm}29.6$ weeks with $19{\pm}18.77$ weeks of improvement per procedure. Procedural cost for one-year improvement in quality of life showed USD $2,654.08. Estimated total costs, including indirect costs and drugs with multiplication of direct costs at 1.67, showed a cost of USD $4,432 per QALY. Conclusions: The analysis of therapeutic lumbar facet joint nerve blocks in the treatment of chronic low back pain shows clinical effectiveness and cost utility at USD $2,654.08 for the direct costs of the procedures, and USD $4,432 for the estimated overall cost per one year of QALY, in chronic persistent low back pain non-responsive to conservative management.