• Title, Summary, Keyword: Economic evaluation

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Application of Economic Risk Measures for a Comparative Evaluation of Less and More Mature Nuclear Reactor Technologies

  • Andrianov, A.A.;Andrianova, O.N.;Kuptsov, I.S.;Svetlichny, L.I.;Utianskaya, T.V.
    • Journal of Nuclear Fuel Cycle and Waste Technology(JNFCWT)
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    • v.16 no.4
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    • pp.431-439
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    • 2018
  • Less mature nuclear reactor technologies are characterized by a greater uncertainty due to insufficient detailed design information, operational data, cost information, etc., but the expected performance characteristics of less mature options are usually more attractive in comparison with more mature ones. The greater uncertainty is, the higher economic risks associated with the project realization will be. Within a comparative evaluation of less and more mature nuclear reactor technologies, it is necessary to apply economic risk measures to balance judgments regarding the economic performance of less and more mature options. Assessments of any risk metrics involve calculating different characteristics of probability distributions of associated economic performance indicators and applying the Monte-Carlo method. This paper considers the applicability of statistical risk measures for different economic performance indicators within a trial case study on a comparative evaluation of less and more mature unspecified LWRs. The presented case study demonstrates the main trends associated with the incorporation of economic risk metrics into a comparative evaluation of less and more mature nuclear reactor technologies.

Evaluation of the Value for Information Service

  • Kim, Yong-Chul;Kim, Youn-Chong
    • Communications for Statistical Applications and Methods
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    • v.10 no.3
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    • pp.741-747
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    • 2003
  • There are many method to evaluate the economic value and non-economic value for information service. But we have a difficult problem to estimate the economic value of information objectively because we don't have a comparable value correspondent to the value of information service. Here, we proposed a method to evaluate for the value of information with the survey and discussed the model of the measure of non-economic value with weighted wages.

A Study on Economic Evaluation Method of Steel Erection Work using by Self-supported Steel Joint (자립형 철골 접합부를 이용한 철골설치 방식의 경제성 평가에 관한 연구)

  • Kim, Changki;Kim, Taehoon;Cho, Hunhee;Kang, Kyung-In
    • Proceedings of the Korean Institute of Building Construction Conference
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    • pp.3-7
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    • 2009
  • Construction projects are being the skyscraper and the large size by limited site condition and developing construction technology. Therefore, Steel structure work is steadily increasing caused by easy to work and structural safety. However, steel-frame work has the large incidence of heavy accident potentially. Recently a research group has recently developed newly designed self-supported steel joint for enhancing safety of steel erection work. Before applying the steel joint in a construction site, economic evaluation should be performed. Thus, we proposed the method for measuring economic efficiency of the new steel joint and verified economic feasibility of the steel joint method through a case study. As a result, Steel erection method using by self-supported steel joint showed economic rather than the one using by H-beams.

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Conceptual Design of a Hazard Evaluation Process for Constructing the Korean Hazard Information System : Focused on Flood Hazard (한국형 재해정보시스템 구축을 위한 재해평가 프로세스 개념설계 : 홍수재해를 중심으로)

  • Jeong, Keun-Chae
    • IE interfaces
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    • v.21 no.4
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    • pp.365-377
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    • 2008
  • In this paper, for constructing the Korean Hazard Information System (KHIS), we conceptually design a hazard evaluation process. We first deal with a hazard evaluation process focused on flood hazard to give the most immense damage and loss. The hazard evaluation process is consist of a damage evaluation process and a loss evaluation process, and is used for transforming hazards from natural disasters into economic measures. The proposed process is developed based on the famous FEMA (Federal Emergency Management Agency)'s $HAZAS^{@MH}$methodology. We modify the FEMA's process to be mutually exclusive and collectively exhaustive, that is all losses from the hazards are included into the estimation process but the losses are not duplicated in the process. In addition to this, we define the loss process specifically by considering the characteristics from the hazard environments of Korea. We can expect that KHIS for evaluating economic losses from natural hazards can be developed based on the conceptual design for the economic loss evaluation process, and KHIS can be used as a useful tool for analyzing the feasibilities of mitigation plans in central/local governments.

A Study on Establishing the Performance Evaluation System of the Fish Stock Rebuilding Plans (수산자원회복계획의 성과평가 개선방향에 관한 연구)

  • Kim, Dae-Young;Lee, Jung-Sam;Kim, Do-Hoon
    • The Journal of Fisheries Business Administration
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    • v.42 no.3
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    • pp.15-29
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    • 2011
  • The Fish Stock Rebuilding Plan (FSRP) is evaluated as one of the most effective fisheries policies domestically and internationally. FSRP is a comprehensive fisheries policy, including target stock size, rebuilding period, application of management measures, and participation of fishermen. The performance outcomes of FSRPs have been partially evaluated for recommendation for stock rebuilding in Korea, while they are fully evaluated in other countries that have implemented FSRPs. The performance evaluation system for FSRP is very needed to enhance its effectiveness as one of fisheries policies. That is, the system where problems can be reconsidered, achieving targets can be evaluated, and the plan can be modified should be implemented. This study classified the performance evaluation of FSRP into the economic evaluation as a quantitative analysis and the policy evaluation as a qualitative analysis. In the economic evaluation, the sustainability of fishery resources, the stability of fishing business, the efficiency of fishery production, and efficient utilization of fishery resources can be considered. As analytical methods for the economic evaluation, the bioeconomic model, efficiency estimation model, the dynamic MEY model can be utilized. The qualitative evaluation is to assess the qualitative performances of FSRPs, including interviews and surveys with fishermen and fisheries experts. In the survey, many different items can be included by evaluation factors which are related to policies such as timeliness, transparency, effectiveness, etc. In addition, the study suggested the performance evaluation system and procedures for objective and efficient evaluation of FSRPs. In order to practically apply the developed performance evaluation model, the pilot project is needed. That is, from the application of pilot project, detailed research methods, effective procedures, and evaluation factors can be investigated.

A Research on Economic Evaluation of Public Web Service (공공 웹 서비스의 경제성 평가에 관한 연구)

  • 박정선
    • The Journal of Society for e-Business Studies
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    • v.6 no.2
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    • pp.57-71
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    • 2001
  • This paper provides an economic evaluation model for public web services which are mainly operated by government agencies. Though there are various services, this paper focus on services for bottleneck problem solving and management information providing. This paper suggests quantitative and qualitative effects of public web services and evaluates them with I-NET users using e-mail surveys. This Paper mv provide a guideline for the future investment on public web services.

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Cost Analysis and Economic Evaluation for Manufacturing System Installation (생산시스템의 설치에 따른 비용분석 및 경제성평가)

  • 최형호
    • Journal of the Society of Korea Industrial and Systems Engineering
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    • v.18 no.34
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    • pp.161-172
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    • 1995
  • The paper examines the cost analysis and economic evaluation for manufacturing system installation in a metal industry. The evaluation procedure is consist of four steps. 1) Attribute determination of manufacturing system 2) Cost Estimating 3) Alternative and Model determination of manufacturing system 4) Economic Analysis. The impact of manufacturing system installations on employment displacement and strategic benefit is discussed and suggested to make a coherent determination of company's objective.

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A Procedure for Economic Evaluation of Computerization of Office Works in Business (기업의 업무 전산화에 대한 경제성 평가 방법)

  • Park, Chun-Yeop
    • Asia pacific journal of information systems
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    • v.3 no.2
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    • pp.74-92
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    • 1993
  • The purpose of this paper is to propose a procedure for economic evaluation of computerization of the office works in business. In particular, this paper is concerned with how to estimate elemental costs and benefits attributable to the computerization of the office work. This paper includes also how to integrate the elemental costs and benefits so that measures for economic evaluation may be obtained.

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Development of Technical and Economic Evaluation Model for Seafloor Massive Sulfide Deposits (해저열수광상 기술.경제성평가 모델 개발)

  • Park, Se-Hun;Park, Seong-Wook;Kwon, Suk-Jae
    • Ocean and Polar Research
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    • v.28 no.2
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    • pp.187-199
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    • 2006
  • The Kuroko-type seafloor massive sulfide deposits found in the western Pacific have been considered to have potentials for economic recovery of Au, Ag, Cu, Zn, and Pb. In this study, a preliminary model was developed for the technical and economic evaluation of them. The FRSC site on Lau Basin in the Tonga EEZ was selected as a target. In this study, no construction In for the metallurgical processing subsystem was accounted for. Instead, it was assumed to sell the Cu, Zn, and Pb concentrates to the existing sulfide customer smelter. The low total investment costs for the development make the venture very attractive. However, the result of the economic feasibility evaluation is still less attractive with the mean metal yield of the Kuroko on land. It is considered that commercial mining may be plausible if the richer metal yields are applied to the development. Quantitative information for metal yield is necessary for a more accurate evaluation. However, the important resource potential information regarding the amount of ore body, the inside structure, and the metal yields have not yet been clarified sufficiently. h addition, the flotation of ore body using seawater has not been tested yet. It is necessary to solve these problems through the experimental R&D and a survey.

Use of Economic Evaluation in the Listing and Pricing of Pharmaceuticals (의약품 보험 급여 및 가격 결정과 경제성 평가의 활용)

  • Lee, Tae-Jin
    • Journal of Preventive Medicine and Public Health
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    • v.41 no.2
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    • pp.69-73
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    • 2008
  • To curb a rapid increase in expenditures for pharmaceuticals, the Korean government introduced a positive list system and a negotiation process for drug prices at the end of 2006. Economic evaluation of pharmaceuticals has begun to have a pivotal role in the listing and pricing of drugs for the Korean National Health Insurance. There are some points to discuss regarding the use of economic evaluation in the listing and pricing in the context of the Korean system. First, the listing and pricing processes have been fragmented, evoking complaints from pharmaceutical companies and delaying the access of new drugs to patients. Second, there is a concern that the positive list system may limit the range and availability of drugs for patients to choose for treatment. Third, the time schedule for de-listing of existing drugs may not be realistic. Fourth, it is not always easy to provide reliable evidence of cost-effectiveness due to a lack of materials. Fifth, there is no consensus on the range of the ICER (incremental cost-effectiveness ratio) acceptable to the Korean society. In conclusion, in the near future, it will be necessary to evaluate the achievements that the economic evaluation has provided to the Korean society.