Risk Factors of Failure to Rescue in Unplanned ICU Admitted Patients after Elective Pancreatectomy

Jimin Son,Ki Byung Song,Ye Won Jeon,Janghun Han,Min Kyu Sung,Yuna Lee,Younghoon Roh,Sarang Hong,Yejong Park,Bong Jun Kwak,Woohyung Lee,Jae Hoon Lee,Dae Wook Hwang,Song Cheol Kim,Suk-kyung Hong 대한외과학회 2022 대한외과학회 학술대회 초록집 Vol.2022 No.11

The optimal insurance demand under an ambiguity aversion

( Jimin Hong ) 한국파생상품학회 2022 선물연구 Vol.30 No.4

This study investigates insurance demand in a two-period model when a decision-maker (DM) is averse to the ambiguity of loss distributions. This study derives sufficient conditions such that the ambiguity-averse DM purchases more insurance than an ambiguity-neutral one when the DM maximises the expected utility. It also derives each sufficient condition to increase insurance demand as ambiguity aversion, ambiguity and downside ambiguity increase, respectively.

Process design for cellulosic ethanol production from lignocellulosic biomass

Jimin Hong(홍지민),Le Cao Nhien(레카오니엔),Nguyen Van Duc Long(구웬롱),Le Quang Minh(레민쿠앙),Pham Ngoc Tram(팜녹트램),Moonyong Lee(이문용) 한국에너지기후변화학회 2016 한국에너지기후변화학회 학술대회 Vol.2016 No.11

Design and optimization of multi-effect-evaporation-assisted distillation configuration for recovery of 2,3-butanediol from fermentation broth

Hong, Jimin,Van Duc Long, Nguyen,Harvianto, Gregorius Rionugroho,Haider, Junaid,Lee, Moonyong Elsevier 2019 Chemical engineering and processing Vol.136 No.-

<P><B>Abstract</B></P> <P>2,3-butanediol (2,3-BDO) is a precious chemical owing to its extensive industry applications. In addition to the traditional chemical synthesis, the production of 2,3-BDO from biomass-based feedstock is an attractive alternative. Nevertheless, this production way consumes considerable energy because the concentration of product from the conversion of biomass is low. In this study, several novel multi-effect-evaporation-assisted distillation (MEED) configurations are proposed to improve the energy efficiency of 2,3-BDO production from a fermentation broth. The binary interaction parameters between 2,3-BDO and water were determined through regression using experimental data. All configurations were designed and optimized using the sequential quadratic programming methodology. The results indicate that the proposed MEED configurations can create the synergistic effect by combining the multi-effect evaporator and distillation processes, which is able to increase substantial energy efficiency as compared the conventional distillation column. Notably, the total annual cost (TAC) of the MEED configurations with double effect, triple effect, quadruple effect, quintuple effect, and sextuple effect can be reduced by up to 12.3%, 16.9%, 20.1%, 21.7%, and 17.5%, respectively. The proposed MEED configuration with heat integration significantly reduced the TAC by up to 38.9%. Furthermore, CO<SUB>2</SUB> emissions were estimated and compared between a conventional column and the suggested configurations.</P> <P><B>Highlights</B></P> <P> <UL> <LI> Several innovative MEED configurations were proposed. </LI> <LI> A synergetic advantage of enhancing energy efficiency. </LI> <LI> SQP is an effective tool to optimize the structure of a complex configuration. </LI> <LI> An efficient biorefinery design was proposed for the 2,3-BDO purification process. </LI> <LI> TAC can be saved up to 38.9%. </LI> </UL> </P> <P><B>Graphical abstract</B></P> <P>[DISPLAY OMISSION]</P>

The effect of life insurance settlement on insurance market and consumer welfare

Hong, Jimin The Korean Statistical Society 2020 Communications for statistical applications and me Vol.27 No.6

This study investigates the effect of life settlement on the monopolistic insurance market. In particular, we consider liquidity cost, which is the cost incurred to the insurer to meet the request of surrender, and trading cost, which is the transaction cost of the policyholders for the settlement. We first show that the introduction of a life settlement can increase insurance demand and enhance consumer welfare even when the trading cost is higher than the liquidity cost. That is, even if the settlement market is less efficient than the insurance market, both insurance demand and consumer welfare can be increased. Second, the insurer's profit can also be increased when settlement is introduced because not only can the insurer save the liquidity cost but also the demand of insurance increases. Lastly, insurance demand does not always decrease when both costs increase. Depending on the population distribution over the liquidity risk, the demand of insurance can be increased or decreased.

Moral Hazard and State Dependent Utility with Loss Reduction

Jimin Hong,S. Hun Seog 한국재무학회 2014 한국재무학회 학술대회 Vol.2014 No.05

In this study, we consider a state dependent utility under moral hazard focusing on the loss reduction effort. We assume a two state model: loss occurrence state and no loss occurrence state. According to the marginal utility of income on the states, we analyze the optimal insurance coverage. If the marginal utility of income is equal between the two states, the optimal indemnity and effort level are identical with the state independent utility case. Optimal insurance involves full insurance up to a limit and coinsurance above the limit. If the marginal utility of income in the loss state is larger than that of income in no loss state, then the optimal insurance include full insurance. On the contrary, if the relation is the reverse between the marginal utilities, then the optimal insurance includes the deductible up to a limit and coinsurance above the limit. In this case, full insurance can be also involved. This paper investigates whether the moral hazard is more or less severe under a state dependent utility as well. As a result, if the indemnity level is equal to the indemnity under state independent utility, the effort is higher than that of state independent utility when the marginal utility of income in the loss state is larger than that of the income in no loss state. That is, the moral hazard problem may be less severe. In contrary to this, moral hazard can be more severe when the marginal utility of the income in the loss state is lower than that of the income in no loss state. We apply the state dependent model to the debt contract model. The cost function is state dependent, the interest rate can be lower and the moral hazard problem may not be significant. The reverse case can be also possible depending on the marginal cost.

Insurance against Bundled Risks with an Application to Microinsurance

Jimin Hong,S. Hun Seog 한국재무학회 2018 한국재무학회 학술대회 Vol.2018 No.05

We analyze the medical treatment choices and the demand for health insurance in a theoretical setting. Experiencing health losses, individuals may select from no, low, or high levels of medical treatment. High level treatment is interpreted as a bundling of low level treatment and additional treatment. Insurance against bundled risks implies that it covers against high level treatment only. Insurance is assumed to be actuarially fair.We find that the low-wealth individuals tend to select no treatment and purchase no insurance. The mediumwealth individuals select low treatment and purchase partial insurance. The high-wealth individuals select high treatment and purchase full insurance. The relation between wealth and coverage is not necessarily monotonic. We apply the findings to microinsurance and discuss the theoretical implications of microinsurance.

Life Insurance Settlement and the Monopolistic Insurance Market

Jimin Hong,S. Hun Seog 한국재무학회 2013 한국재무학회 학술대회 Vol.2013 No.11

We analyze the effects of life insurance settlement on the insurer’s profit and the consumer and social welfares. We consider a one-period model in which the insurance market is monopolistic and the settlement market is competitive. Policyholders face heterogeneous liquidity risks in addition to mortality risks. Liquidity risks are introduced to address the case in which policyholders need urgent cash, leading them to surrender or settle the policies. It is assumed that the insurer cannot observe the liquidity risks nor discriminate policyholders based on the liquidity risks. It is further assumed that no costs are incurred in policy surrender or settlement. We find that the introduction of the life settlement market lowers the monopolistic rent while raising the premium. The effects on consumer welfare and social welfare are mixed. Consumer welfare increases only when the demand sufficiently increases. This finding implies that social welfare, as measured by the sum of consumer welfare and the insurer's profit, can increase if the increase in the consumer welfare is greater than the decrease in the insurer's profit. This finding is contrasted with the existing literature in which the settlement market lowers social welfare.

경제변수가 보험 해약률에 미치는 영향

홍지민(Hong, Jimin) 한국산업경영학회 2016 經營硏究 Vol.31 No.4

본 연구는 웨이블렛 분석 기법을 사용하여 저축성 및 변액 보험 상품의 해약률과 경제변수와의 관계를 분석하고 있다. 웨이블렛 변환 결과 첫째, 정보의 손실 없이 불안정적인 시계열이었던 원자료를 안정적인 시계열로 변화시킬 수 있었으며, 둘째, 단기 및 중장기주기로 나누어 경제변수의 영향력 및 그레인저 인과관계를 살펴볼 수 있었다. 특히 본 연구는 경제변수 중 기존에 다루어지지 않은 부동산의 가격이 해약률에 미치는 영향을 살펴보고 있는 데에 그 의의가 있다. 본 연구 결과에 따르면 저축성보험 및 금리연동보험 상품의 경우 모든 주기에서는 긴급자금가설 및 자금대체가설이 지지되었으나 이자율가설 및 인플레이션가설은 지지되지 않았다. 반면 변액 연금의 경우중장기주기에서 이자율가설, 긴급자금가설, 자금대체가설 및 인플레이션 가설이 모두 지지되었다. 또한 모든 보험 상품에서 부동산의 가격변화가 해약률에 영향을 미치는 것이 관찰된다. This study examines the effect on the lapse rate of the economic variables using wavelet analysis. From wavelet analysis, we transform the original data into stationary data. In addition, we investigate the relationship between the economic variables and the lapse rates in both short and long time scale and Granger Causality. In particular, we examine the effect of real estate price on the lapse rate. As a result, in every scale, policy replacement hypothesis and emergency fund hypothesis are all supported, while interest rate hypothesis and inflation hypothesis are not supported in case of endowment insurance. On the other hand, in variable annuity, in a long scale, all hypothesis are supported. In addition, all insurance product lapse rate are influenced by the price of real estate.

Trends in the Prevalence of Major Depressive Disorder by Sociodemographic Factors in Korea: Results from Nationwide General Population Surveys in 2001, 2006, and 2011

Lee Jimin,Kim Hyerim,Hong Jin Pyo,Cho Seong-Jin,Lee Jun-Young,Jeon Hong Jin,Kim Byung-Soo,Chang Sung Man 대한의학회 2021 Journal of Korean medical science Vol.36 No.39

Background: This study investigated trends in the prevalence of major depressive disorder (MDD) by sociodemographic factors in South Korea. Methods: National samples of the general population aged 18 years or older collected from the nationwide Korean Epidemiologic Catchment Area surveys conducted in 2001 (n = 6,206), 2006 (n = 6,466), and 2011 (n = 5,986) were used. For MDD diagnosis, we conducted face-to-face interviews using the Korean version of the Composite International Diagnostic Interview. We performed logistic regression analyses stratified by gender, after adjusting for other sociodemographic variables, to calculate the 2006-to-2001 odds ratio (OR) and 2011- to-2001 OR by subgroups of sociodemographic factors to explore the association of MDD prevalence with sociodemographic factors over time. Results: The prevalence of MDD in the general population of South Korea increased steadily from 2001, to 2006, and to 2011 (1.6%, 2.5%, and 3.1%, respectively). Among the men, the prevalence of MDD continued to increase significantly in 18–29 years of age group (2006: adjusted OR [AOR], 3.32; 2011: AOR, 7.42), at-risk drinking group (2006: AOR, 3.56; 2011: AOR, 4.77), and not living with a partner group (2006: AOR, 3.24; 2011: AOR, 3.25). Meanwhile, among the women, the prevalence of MDD continued to significantly increase in the below-average household income group (2006: AOR, 2.58; 2011: AOR, 2.59), at-risk drinking group (2006: AOR, 2.02; 2011: AOR, 2.47), and unemployed group (2006: AOR, 1.48; 2011: AOR, 2.04). Conclusion: This study may provide significant information for public policymakers to allocate sufficient health resources on MDD to vulnerable groups, particularly, men aged 18–29 years and women living in households with below-average income, and for clinicians to develop appropriate screening and treatment modalities for MDD.