The study of risk management based on the six-attribute non-equilibrium utility function

Yumei Zhao,Tingjie Lu,Yanxia Tong 인하대학교 정석물류통상연구원 2009 인하대학교 정석물류통상연구원 학술대회 Vol.2009 No.10

This paper first proposes four-attribute variable definition of risk, and studies the current situation of utility function. Then the paper evaluates the risk loss from three perspectives(cost, progress, quality), combined with the occurrence probability of risk P, the predictability of risk P, the controllability of risk C, it builds the utility function respectively, and finally puts forward the weight proposals to establish a six-attribute non-equilibrium utility function of risk.

A Study of Risk Preference : The Shape of Utility Functions for Three Different Types of Risk

Akio Hoshino 한국무역금융보험학회(구 한국무역보험학회) 2021 무역금융보험연구 Vol.22 No.4

목적: 보험의 보급에서 알 수 있는 바와 같이 위험회피 선호는 사회에 널리 퍼져 있다. 위험회 피의 존재는 효용함수가 오목함수인 것으로 설명된다. 이와 동시에 복권, 경마 등의 위험추구 행위도 널리 관찰되어 효용함수가 볼록함수인 것을 의미한다. 이 명백한 모순을 해결하기 위 해 많은 아이디어가 제안되었지만 아직 완전히 해결되지 않고 있다. 본 연구는 위험회피와 위 험추구의 혼합과 관련된 효용함수의 문제점을 해결하기 위한 프레임워크를 제안한다. 또한 이 프레임워크에 근거해서 위험의 종류 별로 보험에 의한 위험전가의 적합성을 검토한다. 연구 설계, 데이터 및 방법론: 기존의 연구에 근거해서 위험회피 선호와 위험추구 선호의 공존 을 설명하기 위해 다양한 종류의 위험에 대해 다른 효용 함수를 사용해야 된다.본 연구에서는 리스크를 그 성격에 따라 3가지로 분류해서 상기한 문제점을 해결하고자 한다. 연구성과: 본 연구에서는 위험을순수위험, 투기위험, 복권위험의 세 가지 종류로 분류하고 각 각에 오목함수, 복합함수, 일부에 선형 및 볼록함수를 적용하여 다양한 위험 선호도를 정성적 으로 설명할 수 있는 것이 증명되었다. 또한 자산과 부채에 영향을 미치는 위험과 수입과 비용 에 영향을 미치는 위험에서는 전자가 보험에 더 적합하다는 것이 증명되었다. 결론: 효용함수가 선형이 아니라는 사실은 효용이 논리가 아니라 인지에 의해 결정된다는 것 을 시사한다. 따라서 사람들의 선호도를 이해하기 위해서는 인지에 기반한 판단 조건을 이해 할 필요가 있다. 순수리스크, 투기리스크, 복권리스크는 성격이 다른 리스크로 인식되기 때문 에 각각 다른 효용함수를 적용하는 것이 적절하다. Purpose : Risk-averse preferences are widespread in society, exemplified by the prevalence of insurance. The existence of risk aversion is explained by the concave shape of the utility function. Simultaneously, risk-seeking behaviors, such as purchasing lottery tickets and horse tickets, are also widely observed, suggesting that utility is represented by a convex function. Many ideas have been proposed to reconcile this apparent contradiction, but it has not yet been completely resolved. This study proposes a framework to solve the difficulty of utility functions associated with a mixture of risk aversion and risk-seeking. Additionally, based on this framework, we consider the suitability of the transfer by insurance in accordance with the type of risk. Research design, data, methodology : Based on previous studies, we focus on the necessity of using different utility functions for different types of risks to explain the coexistence of risk-averse and risk-seeking preferences. We devise three classifications according to the nature of risk and attempt to resolve the above difficulties. Results : The results show that diverse risk preferences can be qualitatively explained by categorizing risk into three types: pure, speculative, and lottery risks, and by applying concave, somewhat linear, and convex utility functions to each of them. Additionally, we distinguish between risks that affect assets and liabilities, which affect income and expenses, and show that the former are more compatible with insurance. Conclusions : The fact that the utility function is not linear suggests that utility is determined not by logic but by perception. Therefore, to understand people's preferences, it is necessary to understand the conditions of judgment based on perception. Since pure, speculative, and lottery risks are perceived as risks of different nature, it is appropriate to apply different utility functions to each of them.

A Novel Vertical Handoff Algorithm Based on Differential Pre-Decision and Improved Utility-Function Method

Chenghai Yu,Dawei Ma,Feng Wang,Xiaoan Bao 보안공학연구지원센터 2016 International Journal of Future Generation Communi Vol.9 No.3

The paper proposes a vertical handoff algorithm based on differential pre-decision and improved utility-function method. This algorithm is relied on utility function to improve its two parameters, which are received signal strength and bandwidth, by using their normalized values to determine the target network. Then, it enters judgment stage of vertical handoff, where introduce differential prediction algorithm that has good accuracy to further constraint the switching decision through taking a prediction of the RSS into account. The purpose is to reduce the impact of ping-pong effect and to obtain accurate handoff. The paper applies MATLAB software to gain the simulated analysis based on this algorithm, And compares the performance of this switching algorithm with utility function algorithm to demonstrate its priority. Simulation results shows that the proposed algorithm can significantly reduce the impact of the ping-pong effect and improve the switching efficiency and the system performance as well in heterogeneous network environments.

문법 교과서에서 매체의 활용 유형 연구

신호철 ( Ho Cheol Shin ) 한말연구학회 2016 한말연구 Vol.- No.39

The purpose of this study is analyzing how to utilize media in grammar textbooks and discussing categories divided by application functions. The researcher divides various media those are used in grammar textbooks into 6 categories and analyzes how they are utilized and type of application function. Media is divided by form of delivery function ; they are photo media, picture media, text media, animation media, video media and mixed media. These 6 media forms have 14 application functions. And these 14 application functions are classified into 5 forms ; they are Thinking Function, Sensitive Function, Material Function, Margin Function and Mixed Function. Thinking Function performs thinking process. It includes comment function, interest function, deductive function, diffusional function, and revelatory function. Sensitive Function stimulate function of learners. It includes design function, visual function, playing function, and spirited function. Material function performs as study materials. It includes material function, content function and positive function. Margin function is an additional function. It includes selectively showing function. selectively showing Mixed function appear when over 2 media are integrated. Each media has different characteristic and functions by its attribute. When the media is utilized under its function and characteristic textbooks by materials or tools properly, it can be focussed on its function and role, correspond with purpose of use. Furthermore, we can expect synergistic effect.

문법 교과서에서 매체의 활용 유형 연구

신호철 한말연구학회 2016 한말연구 Vol.- No.39

The purpose of this study is analyzing how to utilize media in grammar textbooks and discussing categories divided by application functions. The researcher divides various media those are used in grammar textbooks into 6 categories and analyzes how they are utilized and type of application function. Media is divided by form of delivery function ; they are photo media, picture media, text media, animation media, video media and mixed media. These 6 media forms have 14 application functions. And these 14 application functions are classified into 5 forms ; they are Thinking Function, Sensitive Function, Material Function, Margin Function and Mixed Function. Thinking Function performs thinking process. It includes comment function, interest function, deductive function, diffusional function, and revelatory function. Sensitive Function stimulate function of learners. It includes design function, visual function, playing function, and spirited function. Material function performs as study materials. It includes material function, content function and positive function. Margin function is an additional function. It includes selectively showing function. selectively showing Mixed function appear when over 2 media are integrated. Each media has different characteristic and functions by its attribute. When the media is utilized under its function and characteristic textbooks by materials or tools properly, it can be focussed on its function and role, correspond with purpose of use. Furthermore, we can expect synergistic effect.

철도화물수송의 환적효과분석 연구

정성봉 ( Sung Bong Chung ) 한국로지스틱스학회 2011 로지스틱스연구 Vol.19 No.1

본 연구에서는 SP설문조사를 통해 수단별 효용함수를 도출하여 통행시간 및 환적시간 가치를 산출함으로써, 화물 운송 시 발생되는``환적``이 수단선택에 미치는 영향을 살펴보았다. 이를 위해 철도수송의 대부분을 차지하는 양회품목을 대상으로 트럭, 철도, 해운 등 3가지 수단에 대한 효용함수를 구축하고, 한계대체율을 이용하여 시간가치 및 환적영향을 분석하였다. 모형을 통해 분석된 양회의 통행시간 및 환적시간가치는 각각 284원/ton?시, 1,394원/ton?시로 도출되었으며, 통행시간가치의 경우 기존 연구와도 유사한 결과를 가지는 것으로 나타났다. 또한 통행시간(비용)에 대한 한계대체율을 비교하여 환적에 대한 영향 및 변수간 상쇄관계를 파악하였다. 분석결과 통행시간(비용) 대비 환적시간(비용)의 한계대체율이 6.6876(1.3636)으로 환적과 관련된 비용의 영향이 다른 비용에 비해 상대적으로 큰 영향을 주는 것으로 나타났다. 본 연구에서 도출된 결과는 향후 효율적인 물류수송체계를 구축하는 과정에서 환적으로 인한 효과를 정량적으로 평가?반영함으로써 물류수송의 효율성 제고에 큰 도움을 줄 것으로 기대된다. In this study, based on the SP (Stated Preference) survey, the values of time of freight transportation and of transshipment were calculated from utility function. Also the effect of transshipment on mode choice was analyzed by calculating the ratio of the parameter of time in transportation over the time in transshipment of the utility function. To see the effect of transshipment in more detail, the case study of cement transportation was carried out. Usually, the cement is transported by truck, railway, and shipping so that each utility function was estimated using LIMDEP software. From these utility functions the value of time and the effect of transshipment in freight transportation were calculated from the method of Marginal Rate of Substitution(MRS). According to the results, the values of transportation and transshipment time are respectively 284 won/ton hour and 1,394 won/ton?hour. Comparing these values to existing results, they seem to be similar to each other so that the results in this study are proper. To see the effect of transshipment and the trade-off relationship between variables, the ratio of parameters in the utility function was calculated by considering marginal rate of substitution of transportation and transshipment time(cost). The MRS of transshipment time(cost) over transportation time(cost) are 6.6876(1.3636) so that the effect of transshipment on mode choice is higher than that of transportation. This research will help to raise the efficiency in logistics system by giving the proper value of transshipment and by considering the effect of transshipment the logistics system can be established properly in the future.

Power Allocation Method of Downlink Non-orthogonal Multiple Access System Based on α Fair Utility Function

( Jianpo Li ),( Qiwei Wang ) 한국정보처리학회 2021 Journal of information processing systems Vol.17 No.2

The unbalance between system ergodic sum rate and high fairness is one of the key issues affecting the performance of non-orthogonal multiple access (NOMA) system. To solve the problem, this paper proposes a power allocation algorithm to realize the ergodic sum rate maximization of NOMA system. The scheme is mainly achieved by the construction algorithm of fair model based on α fair utility function and the optimal solution algorithm based on the interior point method of penalty function. Aiming at the construction of fair model, the fair target is added to the traditional power allocation model to set the reasonable target function. Simultaneously, the problem of ergodic sum rate and fairness in power allocation is weighed by adjusting the value of α. Aiming at the optimal solution algorithm, the interior point method of penalty function is used to transform the fair objective function with unequal constraints into the unconstrained problem in the feasible domain. Then the optimal solution of the original constrained optimization problem is gradually approximated within the feasible domain. The simulation results show that, compared with NOMA and time division multiple address (TDMA) schemes, the proposed method has larger ergodic sum rate and lower Fairness Index (FI) values.

장기투자자의 포트폴리오선택과 ESG투자의 최적배분 요인분석

현상균(Sangkyun Hyun),이정석(Jeongseok Lee),이준희(Joon-hee Rhee) 대한경영학회 2021 大韓經營學會誌 Vol.34 No.8

정신건강서비스 영역에서 아동청소년 기능평가척도의 활용에 관한 연구

노경란(Kyung Ran Row) 대한소아청소년정신의학회 2017 소아청소년정신의학 Vol.28 No.4

Objectives: This study aims to supplement the limitations of the preliminary study and expand the use of the Child-Adolescent Functional Assessment Scale by providing standardized T-scores for measuring function in different areas, as well as guidelines for their interpretation. Methods: The Child-Adolescent Functional Assessment Scale and Korean-Child Behavior Checklist were administered to a total of 623 individuals, including 467 parents of emotionally and behaviorally disturbed elementary school students, 45 parents of emotionally and behaviorally disturbed middle school adolescents and 111 parents of elementary school students with developmental disorders, as well as to a control group consisting of 186 parents of mainstream elementary school children in the Seoul metropolitan area. Results: In contrast to the preliminary study, the emotional domain was disassociated into two factors, negative affect and emotion regulation, and the coefficient of determination for misconduct was increased significantly. Also, the overall reliability and validity of the Child-Adolescent Functional Assessment Scale were similar to those in the preliminary study, and the item structure was consistent. This study provides standardized T-scores of function in different areas based on the revised scale, and provides guidelines for their interpretation. Conclusion: The Child-Adolescent Functional Assessment Scale can assist the Child Global Assessment in Functioning in providing the information necessary for case management and treatment planning by comparing the impairment severity in each area of functioning, and also determining changes in behavior and function after treatment interventions. On the other hand, this scale has yet to clearly distinguish between rebellious behavior and misconduct. Further research is necessary to provide standards for more diverse age groups and for its utilization.

개인여객 효용의 극대화 및 운송특성공간상의 무차별곡선의 형태와 그 추정

김종석 대한교통학회 2009 대한교통학회지 Vol.27 No.2

The random utility theory and the multinomial logit model (including a more recent variant--the mixed multinomial logit) derived from it have constituted a back bone for theoretical and empirical analyses of various travel demand features including mode choice. In their empirical applications, however, it is customary to specify random utilities which are linear in modal attributes such as time and cost, and in socio-economic variables. The linearity helps easy derivation of important information such as value of travel time savings by calculating marginal rate of substitution between time and cost. In this paper the author focuses on the very linearity of the random utilities. Taking into account the fact that the mode chooser is also labour supplier, commodity consumer as well as leisure-seeker, the author sets up a maximization model of the traveller, which encompasses various economic activities of the traveller. The author derive from the model the indifference curve defined on the space of modal attributes, time and cost and investigate under what conditions the random utility of the traveller becomes linear. It turns out that there exist the conditions under which the random utility is really linear in modal attributes, but the property does not hold when the traveller has a corner solution on the space of modal attributes, or when the primary utility function of the traveller is directly affected by labour provided and/or the travel time itself. As a corollary of the analysis, a random utility is suggested, approximated up to the second order of the variables involved for empirical studies of the field. 개인여객이 운송수단을 선택하여 얻는 효용은 시간, 비용 등의 운송특성과 소득 등 개인특성의 함수이다. 기존 연구에서는 일반적으로 운송특성이 여객효용에 미치는 효과를 추정하기 위한 방법으로 운송특성변수에 대해 선형인 효용함수를 전제로 한 무작위 효용모형을 이용하여 왔다. 그러나 본 논문에서는 개인여객의 효용극대화를 분석하는 방법으로서 운송수단선택행위가 소비, 여가, 소득창출 등 보다 본원적인 활동으로부터 파생된다는 점에 주목하여, 다시 말해, 개인의 본원적 활동에 따른 효용극대화 관점에서 운송수단선택에 따른 효용이 진정으로 선형의 형태를 지니고 있는지를 살펴보았다. 이론적 결론은 첫째, 본원적 활동에 따른 효용이 소비와 여가만의 함수일 때 선형가정은 운송시간의 일부구간에서 진실이다. 둘째, 만일 효용이 노동활동이나 운송시간에 의해 직접 영향을 받을 경우 운송특성에 따른 효용의 선형성은 극단적인 상황이 아니면 성립하지 않는다. 따라서 운송특성에 따른 효용의 크기를 추정하기 위해선 선형이 아닌 보다 일반화된 함수에서의 근사가 요구된다.