• Title/Summary/Keyword: optimistic limit

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Optimization of Investment Decision Making by Using Analysts' Target Prices (애널리스트 목표가를 활용한 최적 투자의사결정 방안에 관한 연구)

  • Cho, Su-Ji;Kim, Heung-Kyu;Lee, Ki-Kwang
    • Journal of Korean Society of Industrial and Systems Engineering
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    • v.43 no.4
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    • pp.229-235
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    • 2020
  • Investors aim to maximize the return rate for their own investment, utilizing various information as possible as they can access. However those investors, especially individual investors, have limitations of interpretation of the domain-specific information or even the acquisition of the information itself. Thus, individual investors tend to make decision affectively and frequently, which may cause a loss in returns. This study aims to analyze analysts' target price and to suggest the strategy that could maximize individual's return rate. Most previous literature revealed that the optimistic bias exists in the analysts' target price and it is also confirmed in this study. In this context, this study suggests the upper limit of target rate of returns and the optimal value named 'alpha(α)' which performs the adjustment of proposed target rate to maximize excess earning returns eventually. To achieve this goal, this study developed an optimization problem using linear programming. Specifically, when the analysts' proposed target rate exceeds 30%, it could be adjusted to the extent of 59% of its own target rate. As apply this strategy, the investors could achieve 1.2% of excess earning rate on average. The result of this study has significance in that the individual investors could utilize analysts' target price practically.

A Study on active use of Daily Hanbok through sales on The Internet (인터넷 판매를 통한 생활한복의 활성화 연구)

  • 소현정;심화진
    • Journal of the Korean Society of Costume
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    • v.50 no.4
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    • pp.181-195
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    • 2000
  • This study was conducted from Sep., 1999. to Nov., 1999. It researched approximately 60 specialized manufacturers who had homepages on the Internet. Of the 60 manufacturers, 20 of them were chosen for the study all of whom had relatively were made homepages that were geared towards sales. 1. Daily Hanboks on the homepages were put in an electronic catalog. They were photographed and well described. Each picture could be enlarged when needed. 2. The Hanbok's were made for men, women and children. There were every couple's Hanboks. The Hanboks used natural material, mixed spinning and chemical textile, which was easily kept and washed. It was intended, as clothes for everyday wear Silk was used for formal clothes. 3. The prices ranged from low-middle to high clothing for everyday life is reasonable and street wear and formal dresses are priced high. The color of the dresses are not vibrant, but natural and light. As Hanboks become more in demand, there will be more choices available. 4. As matter of the sizes shows weakness. In general they use the western size system. The purpose of this study is to show the direction that Hanbok manufacturers may take for the internet sales and for being more active to promote the spread of the dress. This research came to the fellowing conclusion. Even though Hanbok manufacturers operate homepages. it seems that they are not well used. However, many internet shopping malls have been opened and they have put Daily Hanboks into one of their sales categories. The internet malls are getting more active and are expanding more. Therefore the market value of the Hanboks in the future look optimistic. If smaller sized manufacturers of Daily Hanbok's establish cooperative network that have no time and space limit, they can use the strong power of the market as the market development for Daily Hanboks is endless.

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Why should we worry about controlling AI? (우리는 왜 인공지능에 대한 통제를 고민해야 하는가?)

  • Rheey, Sang-hun
    • Journal of Korean Philosophical Society
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    • v.147
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    • pp.261-281
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    • 2018
  • This paper will cover recent discussions on the risks of human being due to the development of artificial intelligence(AI). We will consider AI research as artificial narrow intelligence(ANI), artificial general intelligence(AGI), and artificial super intelligence(ASI). First, we examine the risks of ANI, or weak AI systems. To maximize efficiency, humans will use autonomous AI extensively. At this time, we can predict the risks that can arise by transferring a great deal of authority to autonomous AI and AI's judging and acting without human intervention. Even a sophisticated system, human-made artificial intelligence systems are incomplete, and virus infections or bugs can cause errors. So I think there should be a limit to what I entrust to artificial intelligence. Typically, we do not believe that lethal autonomous weapons systems should be allowed. Strong AI researchers are optimistic about the emergence of artificial general intelligence(AGI) and artificial superintelligence(ASI). Superintelligence is an AI system that surpasses human ability in all respects, so it may act against human interests or harm human beings. So the problem of controlling superintelligence, i.e. control problem is being seriously considered. In this paper, we have outlined how to control superintelligence based on the proposed control schemes. If superintelligence emerges, it is judged that there is no way for humans to completely control superintelligence at this time. But the emergence of superintelligence may be a fictitious assumption. Even in this case, research on control problems is of practical value in setting the direction of future AI research.