• 대한전기학회논문지:전력기술부문A
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• 제51권8호
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• pp.403-408
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• 2002

As the electricity industry undergoes a process of fundamental restructuring, horizontal market power appears as a potential obstacle to a fully competitive wholesale electricity market. Market power is the ability profitably to maintain prices above competitive levels by restricting output below competitive levels. In models for imperfect competition under the consideration of the transmission constraints, the Nash equilibrium has the form of a mixed strategy. In this paper, the models for analyzing imperfect competition are compared using the solution of pure and mixed equilibria. The relation between market power and the capacity of a transmission line is investigated by imperfect competition analysis methods: Cournot, Bertrand, and Supply Curve model.

• 한국유기농업학회지
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• 제23권4호
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• pp.683-702
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• 2015

The static status and dynamic trend of the market structure in the international wheat trade market are empirically analyzed. The export inequality level empirically proved to be high compared to import inequality level. And such states have been maintained since 2001 until 2014. Although the concentration level of export side seems to be easing, the international wheat market remains imperfect competitive market. Moreover, overall imperfect competitive status over 2002-2014 has been worsened compared to 2001 level. The main reasons are that the overall trends of the imports concentration is reduced more than those of the export concentration level.

• 한국산학기술학회논문지
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• 제16권11호
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• pp.7788-7793
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• 2015

본 연구는 최근 들어 시장의 불완전 경쟁 구조에 따른 시장 불안정 상태에 대한 우려가 가장 크게 제기되었던 시장인 곡물 교역시장에서의 연도별 불완전 경쟁의 수준과 함께 그 동태적 변화추이를 분석하였다. 기존의 시장구조 접근법에서 많이 사용되어왔던 상위 k개 국가 중심의 집중률 (Concentration Ratio: CRk)지수의 곡물 교역시장 분석상의 한계점을 명시하고, 이에 대한 대안으로 로렌츠 곡선 개념을 도입함으로써 전체 국가들의 분포적 특징을 분석하였다. 이를 바탕으로 지니 불균등 지수 (Gini Inequality Index)와 엣킨슨 불균등 지수 (Atkinson Inequality Index)를 활용한 통계적 분석을 수행하였다. 실증적 분석결과, 연도별 수출과 수입간 불균등도 차이는 분석기간 내내 통계적으로 유의수준의 양의 추정치를 나타내었다. 또한 2002-14년 기간 동안 이러한 불완전한 경쟁 상태는 2001년에 비해서 전반적으로 심화되었다. 수출 집중도가 일반적인 인식과 달리 소폭이나마 하향세를 나타내고 있음에도 불구하고 곡물 교역시장의 불완전 경쟁상태가 심화되고 있는 것은 수입의 국가별 분포가 수출의 경우 보다 현저하게 균등화되고 있기 때문으로 보인다.

• KDI Journal of Economic Policy
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• 제38권3호
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• pp.79-106
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• 2016

This paper investigates the effectiveness of public credit guarantee programs and interest-support programs for SMEs (small and medium enterprises). First, assuming that there is an imperfect information structure in the SME loan market, we analyze how SME support financial programs affect the corporate decisions made by SMEs with regard to default or loan sizes. In addition, this paper theoretically computes the optimal levels of credit guarantee amounts and the interest-support spread under equilibrium with imperfect information in a competitive loan market. Second, the paper empirically analyzes the continuous policy-treatment effect with the GPS (generalized propensity score) method. In particular, we consider the ratio of guaranteed debt to the total debt as a continuous policy treatment. The empirical results show that marginal effects of a credit guarantee on SMEs' productivity, profitability, and growth potential decrease with the ratio of guaranteed debt to the total debt. In addition, the average effect of a credit guarantee is maximized when this ratio is at 50% to 60%.

• KDI Journal of Economic Policy
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• 제34권2호
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• pp.173-204
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• 2012

본고는 산출물시장이 과점적이고 동질적 상품이 거래되어 기업들이 생산량 경쟁을 하고 배출권시장은 완전경쟁적일 경우, 기업이 지출하는 저감투자량의 적절성을 이론적으로 분석한다. 산출물시장이 완전경쟁적일 때와는 달리 저감투자는 직접적으로 배출비용을 줄이는 효과 이외에 다른 기업의 산출물을 줄이는 간접적 효과를 발생시킨다. 균형하에서의 저감투자량은 사회적으로 최적인 저감투자량에 비해 생산량 대비 과잉투자를 야기하여 투자배분을 왜곡한다. 본고는 또한 불완전경쟁시장이 배출권 거래제도하에서 발생시킬 수 있는 비효율성의 제반 요인들을 검토하고 정책적 시사점을 제시한다.

• 전기학회논문지
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• 제59권12호
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• pp.2143-2149
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• 2010

Market price and curtailment amounts of the Demand Resource Market(DRM) are determined by competition between electricity consumers. An important aspect of the DRM involves the assessment of strategic behavior of participants for maximizing their profits. This paper presents economic equilibrium models for simulating imperfect competition among electricity consumers in the DRM and analyzes the models at Nash Equilibrium of Game Theory. The proposed demand functions and supply functions of DRM are based on the Demand Resource Market Rules in Korean electricity market. Simulation results show that the models are adequate for obtaining Nash Equilibrium of consumers' competitive curtailment.

• Journal of Electrical Engineering and Technology
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• 제10권4호
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• pp.1460-1470
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• 2015

This paper presents an approach to solve the long-term generation expansion planning problem of the restructured electricity industry using an agent-based environment. The proposed model simulates the generation investment decisions taken by a particular agent (i.e. a generating company) in a market environment taking into account its competitors’ strategic investment. The investment decision of a particular company is modeled taking into account that such company has imperfect foresight on the future system development hence electricity prices. The delay in the construction of new plants is also explicitly modeled, in order to compute accurately the yearly revenues of each agent. On top of a conventional energy market, several capacity incentive mechanisms including capacity payment and capacity market are simulated, so as to assess their impact on the investment promotion for generation expansion. Results provide insight on the investment cycles as well as dynamic system behavior of long-term generation expansion planning in a competitive electricity industry.

• 자원ㆍ환경경제연구
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• 제11권3호
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• pp.415-446
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• 2002

Due to its cost effectiveness, tradeable emission permits (TEP) system has been effectively used in the USA and many other advanced countries. But, academic many researchers have been argued that TEP system would not work as an efficient regulatory tools when there are imperfect competition in permits and/or products markets. Sartzetakis (1997), however, show that TEP system can serve as an effective environmental regulation under the certain demand/cost conditions even though duopolistic production market is not competitive. In this paper we extend Sartzetakis's analysis into the differentiated products markets under the same cost conditions, and examine the relative efficiency of TEP system by comparing it with the command and control system. We then show that the main results of Sartzetakis can hold if two differentiated products markets have the symmetric demands. In particular, it is revealed that social welfare will be increased under TEP system even though consumer surplus may be decreased.

• 유통과학연구
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• 제19권1호
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• pp.61-73
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• 2021

Purpose: The transition from a traditional to a modern food distribution system induces several adjustments on the supply side since supermarkets must collect food on a larger scale and with higher quality standards. This situation becomes a real challenge for small scale farmers to access supply in a modern distribution channel. This gives rise to an original solution: supplying supermarkets through farmer associations or cooperatives. Based on this context of Vietnam linking to the case of distribution science, the paper proposes an industrial organization model of the food processing system in developing countries. The model presents the competitive relationship between two competing distribution systems: a traditional and a modern one. The former is composed of several retailers that sell their products on the traditional market while the latter is based on cooperatives that collect food and negotiate with supermarkets. The current study is to discuss the conditions under which the evolution of the food distribution system occurs by using the proposed model. Research design, data, and methodology: Based on the proposed model, the study explored the quantity flow from small producers to consumers through a Nash equilibrium and address the question of farmer repartition by a free-entry equilibrium. Results: The result shows that there is a unique positive equilibrium in the food market with participation of cooperative associations; Since farmers serve cooperative associations, they not only receive quantity incentive prices but also share profits within their organization. Conclusions: This study shows a unique distribution equilibrium where the profits of farmers working for middlemen and cooperatives are maximized. Further insights were discussed.

• KDI Journal of Economic Policy
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• 제14권2호
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• pp.29-54
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• 1992

무역자유화(貿易自由化)나 지역경제통합(地域經濟統合)의 경제적(經濟的) 효과(效果)를 논의할 때 시장구조(市場構造)와 규모(規模)의 경제(經濟)와 관련된 개방효과(開放效果)를 분석(分析)하는 것이 중요하다. 잠재시장(潛在市場)의 크기가 확대되는 데에 따르는 제품차별화(製品差別化)의 심화(深化)나 규모(規模)의 경제실현(經濟實現)은 '무역(貿易)의 이익(利益)'의 차원(次元)을 확장시킨다. 개방(開放)에 따르는 해외로부터의 경쟁강화(競爭强化)는 국내기업(國內企業)의 경쟁환경(競爭環境)을 심화(深化)시켜 시장진입(市場進入) 퇴출(退出)과 산업합리화(産業合理化)에 영향을 미치기 때문이다. 본고(本稿)는 무역장벽완화(貿易障壁緩和)가 유발하는 자원배분효과(資源配分效果) 및 후생효과(厚生效果)뿐만 아니라, 시장구조(市場構造)가 불완전경쟁적(不完全競爭的)이고 생산과정(生産過程)에 규모(規模)의 경제(經濟)가 존재(存在)하기 때문에 나타나는 '개방(開放)의 이익(利益)'을 가상적(假想的)인 한국(韓國) 일본(日本)의 쌍무적(雙務的) 관세인하효과분석(關稅引下效果分析)을 중심으로 검토하고 있다. 이를 위하여 전산업을 완전경쟁적(完全競爭的) 산업(産業), 불완전경쟁적(不完全競爭的) 산업(産業), 비교역산업(非交易産業)으로 구성되는 30개 산업으로 분류하였으며, 가상적(假想的)인 관세인하(關稅引下)(한국(韓國)의 경우 법정관세 인하, 일본(日本)의 경우 실적관세율 50%인하)를 상정(想定)하여 이것이 양국의 산업에 미치는 영향을 검토하였다. 관세인하는 산업내(産業內) 무역(貿易)을 증가(增加)시킬 것이나, 산업합리화(産業合理化) 효과(效果)나 규모(規模)의 경제(經濟) 실현(實現)에 미치는 영향은 크지 않을 것으로 추정된다. 또한 관세인하(關稅引下)로 한국(韓國)과 일본(日本)의 총수출(總輸出)과 총수입(總輸入)이 모두 증가하나, 한국(韓國)의 경우 수출증가보다 수입증가가 큰 반면 일본(日本)의 경우 수입증가보다 수출증가가 큰 것으로 나타났다. 한편 관세인하로 한국(韓國)과 일본(日本)의 총산출증가(總産出增加)가 예상되는데, 증가폭은 각각 0.5~0.6%에 이를 것으로 예상된다.