Consumer Search and Price Adjustment: Evidence from the Distribution of Retail Gasoline Prices

여정원 한국산업조직학회 2023 産業組織硏究 Vol.31 No.4

Consumer search theory provides an explanation for the existence of non-degenerate price distributions for identical products. Recently, several theoretical studies also used the theory to explain asymmetric adjustments of retail prices to cost shocks. Some of them make predictions that relate the degree of price dispersion to cost or price levels, movements of prices or costs, and search intensity. This paper examines price dispersion in the retail fuel market in South Korea to empirically evaluate some of the predictions. With regression analysis of the variance of retail fuel prices, I find that the dispersion of retail fuel prices is inversely related to wholesale fuel prices. I also find that price dispersion rises both when prices are rising and falling. These findings support some of the predictions and repudiate some others, with one question about consumer search behavior unanswered: whether consumers search more when prices are high or rising versus when prices are low or falling.

The Factors of Revenue-Sharing Contracts in Franchising: Evidence from the Korean Franchise Industry

여정원 한국국제경제학회 2022 International Economic Journal Vol.36 No.1

I examine whether the existing theories on revenue-sharing contracts can explain variations in the terms of franchise contracts, including royalty rates, the degree of revenue-sharing, and the mix of franchising and company ownership (contract-mixing), in the Korean franchise industry. This study utilizes a unique dataset that I assembled on 300 franchise systems in the franchised restaurant industry in Korea. I find the capital constraint-based explanation is more consistent in explaining the franchise fee, whereas the moral hazard-based explanation is more consistent in explaining the royalty rate. Also, the contract length is found one of the most significant explanatory variables. These findings confirm the role of revenue-sharing as a tool to align the contracting parties’ incentives and suggest it be a commitment device to a continued collaborative partnership between franchisors and franchisees.

The Rise of Niche Consumption: A Shopping Basket Similarity Approach

여정원 한국국제경제학회 2022 International Economic Journal Vol.36 No.4

The rise of e-commerce and globalization has led to a surge in product variety. As a result, consumers are now able to purchase products that meet their specific needs and wants. A rise of such niche consumption may be evidenced by a long-tailed market share distribution, or falling aggregate spending concentration accompanied by rising consumer spending concentration. In this paper, I propose a more direct method to uncover whether consumers become similar or different in the products they spend more on. Using Nielsen’s consumer panel data, I compute cosine similarity scores for each pair of household shopping baskets represented by the expenditure share distributions. I find the households’ grocery baskets became increasingly different from one another from 2005 to 2019 regardless of whether products are defined narrowly or broadly. But, when products are broadly defined as brands, the aggregate and individual consumer spending concentration both rise from 2015 and on. This shows the consumer shopping basket similarity approach can unveil patterns of niche consumption even when consumer and aggregate spending concentration move in the same direction.

Diversity, Equity, Inclusion, and Accessibility in Recent Public Administration Research: A Systematic Review of the Literature Since George Floyd

여정원,전소희 서울대학교행정대학원 2023 The Korean Journal of Policy Studies Vol.38 No.2

Against the backdrop of increasing scholarly interest in and social awareness of diversity, equity, inclusion, and accessibility (DEIA) issues over the past few years, this study offers a systematic review of DEIA literature in the public administration field since the murder of George Floyd in May 2020. Based on the preferred reporting items for systematic reviews and meta-analysis (PRISMA) selection protocol, 109 articles related to DEIA issues were identified in public administration journals. Findings feature recent DEIA research trends emerging from the selected journal articles in terms of author characteristics, geographic focus, theoretical grounds, and methods. Based on the findings, issues addressed within DEIA research are identified and discussed, and agendas for future DEIA scholarship in public administration are suggested.

Learning before and during the COVID-19 outbreak: a comparative analysis of crisis learning in South Korea and the US

이슬기,여정원,나종민 한국행정학회 2020 International Review of Public Administration Vol.25 No.4

Learning is imperative in government responses to crises like the COVID-19 pandemic. This study examines the South Korean and United States governments’ responses to COVID-19 from a comparative perspective. The analysis focuses on crisis learning conducted before and during the COVID-19 outbreak, using the conceptual categories of intercrisis/intracrisis learning and single-/doubleloop learning. The findings suggest that double-loop, intercrisis learning allows for more effective crisis management by (re)developing a common operating framework. The efficacy of learning is enhanced when double-loop learning is followed by single-loop learning that embeds new structures and operational procedures. The findings also suggest that intercrisis learning facilitates intracrisis learning and that political support is critical for inducing crisis learning. The paper concludes with theoretical and practical implications for crisis learning.

Intra-Household Peer Effects in Smartphone Adoption

박민정,여정원 한국국제경제학회 2023 International Economic Journal Vol.37 No.1

This paper examines intra-household peer effects in the adoption of smartphones using unique South Korean panel data. Consistent estimation of peer effects in this setting needs to address two key challenges: homophily and endogenous sample attrition. We address both challenges and obtain consistent estimates of peer effects, by first-differencing the individual-level panel data and then using longer differences of the independent variables as instruments. The estimation results show that an individual becomes much more likely to adopt a smartphone if other household members have previously adopted one. The analysis also reveals that failure to account for endogenous attrition of individuals after product adoption would lead to a significant under-estimation of peer effects.

해양생태계 법정조사의 역사와 현황

김영남,유정규,여정원,고병설,황인서,KIM, YOUNG NAM,YOO, JEONG-KYU,YEO, JUNG WON,KHO, BYUNG-SEOL,HWANG, IN-SEO 한국해양학회 2019 바다 Vol.24 No.1

How Do Intercrisis Learning Outcomes Affect Intracrisis Learning? “Learning in the Making” in the Case of South Korea’s COVID-19 Response

나종민,이슬기,여정원 서울대학교행정대학원 2020 Journal of Policy Studies Vol.35 No.3

This study explores the processes of intercrisis and intracrisis learning and the link between them, drawing on South Korea’s responses to the COVID-19 pandemic as an example. The crisis management literature suggests that intracrisis learning is less likely to occur than intercrisis learning due to inherent barriers that hinder learning and adaptation in the heat of crisis. Based on the conceptual framework of problem-oriented governance and crisis learning, we unpack how prominent outcomes of intercrisis learning facilitate intracrisis learning during the acute phase of an emerging crisis. We postulate that learning after 2015 MERS crisis developed the core capabilities for problem-oriented governance which, in turn, have facilitated learning during the COVID-19 pandemic. We also posit that these capabilities continue to be enhanced through ongoing intracrisis learning processes. Our findings indicate that, in South Korea, such capabilities— reflective-improvement capability, collaborative capability, and data-analytic capability—have been substantially developed after 2015 MERS crisis and are getting more sophisticated as a result of on-going intracrisis learning during the COVID-19 pandemic. Theorical and practical implications for crisis learning are discussed.

바닷모래 채취에 따른 퇴적물 입도 조성 변화에 대한 적정지표 타당성 검토

우준식,김태하,이효진,김성은,여정원,손규희 한국해양환경·에너지학회 2022 한국해양환경·에너지학회지 Vol.25 No.3

The appropriate indicator was calculated by identifying changes in the composition of sediment due to marine sand mining in the Western and Southern Sea EEZ marine sand mining areas. In the Southern EEZ area, the sediment composition was maintained at a constant composition ratio in the control sites, and the mud content was found to increase in the mining sites. This seems to be caused by anthropogenic activities such as marine sand mining rather than having influenced by a natural effect. In the Western EEZ area, sediment composition did not show rapid granulation or fine-graining in the control sites and mining sites, and the sand content remained unchanged at over 85% in all areas. To establish a indicator for changes in the sediment composition of the control sites and mining sites, the degree of similarity was identified through Mahalanobis analysis. As a result of the similarity analysis in the Southern EEZ area, the similarity is low regardless of the mining period and resting period, which means the composition of the sediments changed by the marine sand mining is not being restored. As a result of the similarity analysis in the Western EEZ area, it was found that the sediments remained and distributed in a similar composition even during the marine sand mining period and the resting period. 남해와 서해 EEZ 골재채취 해역에서 바닷모래 채취에 따른 퇴적물 입도 조성 변화를 파악하여 적합한 적정지표를 산정하였다. 남해 EEZ 골재채취 해역의 퇴적물 입도 조성 분포는 대조구의 경우 일정한 구성비를 유지하고 있으며, 채취광구에서는 펄(Mud : silt+clay) 함량이 증가하는 것으로 나타났다. 이는 자연적인 영향보다는 바닷모래 채취와 같은 인위적 행위의 영향으로 판단된다. 서해 EEZ 골재채취 해역의 퇴적물 입도 조성 분포는 대조구 및 채취광구에서 급격한 조립화 또는 세립화가 나타나지 않았으며, 전 지역에서 모래함량이 85% 이상으로 변화 없이 유지되었다. 대조구와 채취광구의 퇴적물 입도 조성 변화에 대한 적정지표 설정을 위해 마할라노비스 분석을 통해 유사도를 파악하였다. 남해 EEZ 골재채취 해역의 유사도 분석 결과 채취 기간과 휴지기에 상관없이 낮은 유사도를 보이며, 이는 바닷모래 채취로 인해 변경된 해저퇴적물 입도 조성이 회복되지 않고 있음을 의미한다. 서해 EEZ 골재채취 해역의 유사도 분석 결과 바닷모래 채취 기간 및 휴지기에서도 유사한 퇴적물 입도 조성으로 잔존되어 분포하는 것으로 나타났다.

해양보호구역 조사관찰 결과와 관리정책

황인서(Inseo HWANG),여정원(Jung Won YEO) 한국해양환경·에너지학회 2012 한국해양환경공학회 학술대회논문집 Vol.2012 No.11