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2017-06 26

[Academics]Assessing the Effectiveness of Global Marketing Strategies

Professor Kim Bo-young of the Department of Business has been nominated as the researcher of the week for her active research in the field of international business and marketing. In her paper, “Assessment of the Economic Benefits from US Meat Export Federation’s (USMEF) Marketing Investment in South Korea”, Kim explains how controllable economic factors such as marketing expenditure can have substantial impact on enhancing international trade and business. A photo of Professor Kim (Photo couresy of Kim) More specifically, this research aims to estimate the economic impacts of USMEF marketing investment for commodity on US beef in South Korea. An econometric framework has been developed to assess the effectiveness of USMEF’s marketing strategies and promotional programs in South Korea, by developing an import demand model for US beef and eliciting Benefit-Cost-Ratio (BCR) of USMEF’s promotion investment. From this analysis, 1) the relationships between selected uncontrollable and controllable economic variables and the US beef demand in South Korea are assessed, and 2) with BCR simulation analysis, the return on promotion investment (ROI) of USMEF is derived. In the first stage, the baseline scenario was constructed with the estimated import demand which is set to historical level (i.e.100%) of marketing expenditure, then compared with a counterfactual scenario, where marketing expenditure was hypothetically reduced by 75% below the historical level. The difference between the two scenarios implies the impact of reduction in marketing investment. Hypothetically, 75% reduction in USMEF marketing investment would have decreased US beef import in South Korea, a possible reduction of 20.68% in US beef import demand. (Photo courtesy of Kim) In the second stage, BCR is calculated (i.e.). is the benefit of USMEF promotion investment (i.e. the additional net revenue of US beef due to increased export volume & export price), and is the cost of USMEF promotion investment (i.e. the sum of the various marketing costs). Using this BCR calculation approach, 9 simulated scenarios are generated, which suggest BCRs for US beef with USMEF promotion investments over nine different market and supply conditions. The graph above shows a caculation of BCR. (Photo courtesy of Kim) The study results show that increase in USMEF promotion investment had a significant and positive impact on the net revenue of US beef export to Korea over the period of 2007-2013. The estimates of BCRs ranged from 2.20 to 9.66 under 9 different market scenarios, indicating that on the average, the benefits of USMEF promotion is greater than the cost of USMEF promotion for all 9 scenarios. For example, 9.66 for BCR imply that the benefit of USMEF promotion is 9.66 times greater than the cost. In translation, under the 10% net margin scenario, every dollar invested in USMEF promotion to Korea market generated a return of U$9.66 at most. The incremental benefits for US beef (i.e. additional net revenue) range from U$15.73 million (=10 & =3%) to U$69.95 million (=2 & =10%). Thus, there are substantial returns on USMEF promotion investment. When it comes to international trade of commodity products, there are varying degrees of control over factors that affect their economic benefits in the foreign market. Exchange rates, the price of substitutes, income growth in importing country are some examples of uncontrollable variables affecting commodity exporters. Nonetheless, the study results suggest that there is convincing evidence of commodity promotion expenditure in foreign market, exerting a significant positive influence on the commodity import demand. Thus, promotion investment by international marketing agency can be viewed as an important controllable variable for successful export of commodity. Korean commodity exporters may need to take this as a lesson in developing their export marketing strategies in the future. Currently, Kim is in charge of the Korea Institute of Sustainable Economy (KISE) and her research team is conducting Korea-Japan-China triad comparative analysis on the Omni channel marketing and retailing. By using corporate big data and survey, she is exploring the optimal development of the Omni channel in retail markets in Korea, Japan and China. Kim plans to expand her studies on consumer analytics and international business/data analytics for better understanding of rapidly evolving global retail markets. Yun Ji-hyun uni27@hanyang.ac.kr

2017-05 22

[Academics]Novel Way of Measuring Cellular Nanoparticles (1)

Nanoparticles, which are particles with diameters at least one dimension less than 100nm, are gaining intense interest from researchers. This is due to their wide applications in diverse fields such as biomedicine, materials, and electronics. Nanoparticles in medical treatments, for example, are used as drug carriers which are introduced to the human body to deliver medicine to targeted tissues. But because the safety of nanoparticles are not yet fully proven, it is important to understand to what extent the human body can be exposed to nanoparticles. In the paper “Flow Cytometry-Based Quantification of Cellular Au Nanoparticles”, Professor Yoon Tae-hyun (Department of Chemistry) focuses on the quantitative measurement of nanoparticles associated with mammalian cells. Among the increasing research interests toward nanoparticles, Yoon developed a new efficient way to quantitatively count cellular nanoparticles. With the approach of analytical chemistry, Professor Yoon and his research team utilized a technique called flow cytometry (FCM), which is already commonly used in biological and medical fields. One of its uses is to measure the number of blood (e.g. platelet, red and white blood cells) in blood samples. “While the ultimate purpose of our research is to determine whether it is hazardous to humans or not, a more detailed or fundamental subject in this specific study was to develop a method of quantitatively measuring how many nanoparticles would associate with a single mammalian cell,” explained Yoon. As it is a very micro-level research, the goal of the research is to be as simple and accurate as possible. Yoon and his team exposed cells to gold nanoparticles and measured the scattered light intensity of the cell samples using a flow cytometer. Yoon gave the example of fine dust for easier understanding. “When there is a large amount of fine dust in the air, it is usually hard for people to have clear vision because light is scattered by fine dust particles. However, we are able to recognize the existence of nanoparticles thanks to the scattered intensity of a laser source in a flow cytometer. When nanoparticles are associated with cells, the laser beam will be scattered by the nanoparticles and the scattered intensity will be high. If there are no nanoparticles, the laser beam will not scatter but just shoot straightforward,” explained Yoon. Overall graphic and imagery process of FCM, and scattering lights of cells with nanoparticles. (Photo courtesy of Yoon) The main significance of the research not only comes from the fact that it tried to tackle and study fundamental characteristics of nanoparticles, but also from how Yoon and his team improved the conventional FCM technique for utilization. His team discovered the statistical relationship between the FCM-scattered light intensity of the cell samples and the number of nanoparticles associated with cells. This finding enabled Yoon's team to accurately detect and quantify the cellular association of nanoparticles. “I think it is important to have thorough knowledge about the safety and effectiveness of the use of nanoparticles, and our research can act as a foundation for acquiring such knowledge to develop further applications. Along with the new findings, I hope our research contributes to the fusion of nanoscience and technology, along with other research areas such as biomedical fields,” said Yoon. Yoon hopes to research on nanoparticles for practical use in different fields. Yun Ji-hyun uni27@hanyang.ac.kr Photos by Kim Youn-soo

2017-05 01 Important News

[Academics][Researcher of the Month] How ‘Fit' Are You With Your Boss?

For a higher competency of a company or a corporation, factors like personality, values and goals that employees and leaders prioritize were focus of a research in management or psychology studies. It has been thought that such factors should be met between a leader and an employee for higher effectiveness in a company. Rather than determining how ‘fit’ a leader and an employee is under the standards of aforementioned aspects, there has been a new perspective suggested by Professor Shin Yu-hyung of the Department of Management. Appointed as one of the researchers of the month, her recent paper, “Does Leader-Follower Regulatory Fit Matter? The Role of Regulatory Fit in Followers’ Organizational Citizenship Behavior” discusses the two different concepts, ‘promotion focus’ and ‘prevention focus’ and how it works between a leader and an employee. From her doctoral course, Shin realized how aptitude and characterisitcs of people are important. The core of Shin’s research is one’s different strategic intentions, which can be divided into prevention focus and promotion focus. Promotion focus refers to a strategy to bear risks for positive outcome. Thus employees with promotion focus would put themselves into challenges for better results in their tasks even if they have to bear risks during the process. On the other hand, employees with prevention focus will contain themselves inside a security zone, putting their biggest effort to avoid the worst outcome. Thus, unlike the ones with promotion focus, they would not try to change the conditions in the given environment and will aim to accomplish the goals within the boundary of rules or conditions. For example, consider two college students in their 3rd year. Both of them studies hard to get better GPAs but their focus can be different. Student A with promotion focus studies hard because A wants to get higher scores to apply to a company he or she wishes. Student B with prevention focus would only study hard merely to avoid an F on his or her GPA. In the paper, Shin tried to examine and demonstrate such relevance with Organizational Citizenship Behavior (OCB), which refers to discretionary and extra-role behavior that is considered to increase overall effectiveness in an organization, a company in this case. What Shin chose was to prove it through a survey. She chose 140 leaders and 640 employees from different fields of Korean domestic companies. The questions mainly asked of one’s attitude to different focus, whether it is more toward promotion or prevention. As a result, Shin was able to witness different focus strategy each employees and their leaders take. According to the graph, the allignment of leader and follower (employee) proves the highest effectiveness of OCB. (Photo courtesy of Shin) Analysis of the survey showed several facts. First, when an employee pursues promotion focus, his or her fit with a leader showed less significance. “People with high promotion focus are the ones who tries to break a conventional frame or a box, which makes their fit with their leaders less necessary. Only their degree of the focus will determine their degree of accomplishment,” explained Shin. However, the importance of ‘fit’ was shown in the case of an employee with high prevention focus. In this case it has been proven that the more one is fit with his or her leader, the better accomplishment one can make. “As people with prevention focus tries to work most effectively within the given frame, they try to cooperate and negotiate well with others while abiding by the law, which makes the fit with their leaders more important,” said Shin. While researches on regulatory fit between leaders and employees have been done for a long time, the different perspective Shin suggested is getting credits for positive feedbacks of the paper. In the same line, Shin is working on how various styles of working can affect the outcome. In a case like where an employee is the one who tends to take more steps in completing his task while his or her leader is the one who is always chased by the dead line. As the cooperation between a leader and an employee is always important for a successful company, Shin expects the research could positively affect and motivate more innovative management studies. Shin said she will keep on researching to contribute to HYU and Korea's good brand image. Yun Ji-hyun uni27@hanyang.ac.kr Photos by Kim Youn-soo

2017-04 10 Important News

[Academics]For the Future of Alternative Fuel Vehicles

It is a well-known fact that carbon-based vehicles are one of the main factors for causing problems that threatens environmental security such as climate change. It was an impediment task to develop Alternative Fuel Vehicles (AFV) to reduce the amount of fossil fuel for the upcoming future. However, while the introduction of such eco-friendly transportation system has drawn a lot of attention, it has failed to become as widespread as it was expected to be. Professor Jeong In-jae of the Department of Industrial Engineering pointed out that it is mainly because of the serious lack of AFV’s refueling stations, which could be either electricity recharging stations or hydrogen stations. From his recent article “An optimal approach for a set covering version of the refueling-station location problem and its application to a diffusion model”, Jeong suggested the desirable algorithm example to build the most efficient number of refueling station to reduce the investment costs needed to develop refueling infrastructure. Jeong said increasing the number of refueling stations is the first task to motivate AFV industry. “It is like a vicious cycle,” said Jeong. A lot of people are being hesitant to change their conventional carbon-based vehicles to AFV because there is no sound infrastructure to support AFV. Thus, possible manufacturers of refueling stations also become hesitant to build more as there are no sufficient demand. “Everybody agrees with the impediment need for more spread of AFVs, but there are obvious vicious cycle which disturbs it. It is necessary for the government to step in the market,” said Jeong. To first initiate the growth of the market of both AFV and its refueling station, it is necessary to make initial investment possible, which is the problem of finance. To minimize the needed expense, Jeong assumed two situations to suggest different algorithms respectively. The difference between two situation lies whether there is or no existing refueling station as the math would be different between the two. The aim of the algorithm was same tough, to make the less stations for the greater effect. “I started to gain interest on the subject about 7 years ago. I had a chance to meet some the professors in the United States who had a same interest about AFVs. Thought that it is the subject which perfectly meets what is actually needed in the current society,” said Jeong. He also added how it is hard to know what kind of AFV will lead the future automobile industry is still yet to be clear, it is very important to prepare it beforehand. “It is hard to say that electric cars are the ones which is most eco-friendly as electricity still is an energy that is made from fossil fuels. Hydrogen cars are better in such aspect. But we don’t know the future so we have to have a theory and policy regarding both of them beforehand,” said Jeong. An example of a refueling station for electric cars. (Photo courtesy of bizwatch) While it is agreed by many that the research and development of AFVs main infrastructure should be more progressed and encouraged, Jeong said it is unfortunate to witness how the Korean government is merely trying to take care of matters as they come, which can lead to serious waste of the government budget. Still, regarding the topic, Jeong is now preparing to write another paper. If this paper was about how to calculate the most efficient number of stations, the next subject for his research is to calculate the most desirable driving route for an AFV. “Compared to carbon-based vehicles where stations are now practically easy-to-find and access, AFVs have a limited vehicle range. It can be different by company to company but the average distance is 130km when the car is fully charged. However, considering the fact that there are still less stations and cars have to recharge during its route, the efficient route of AFV is drastically different from that of carbon-based vehicles,” explained Jeong. Although Jeong had to work on all research by himself, he said it is still a big pleasure for him to work as a ‘researcher’. “When a lot of professors reach into years of careers, they become more of a ‘manager’ than a ‘researcher’. Instead of being involved in a research, they became a manager who direct and instruct his or her fellow researchers of graduate students. However, I thought that I’d want to remain as a researcher which led me to spare more time on my own research. It is tough and hard to do, but I want to keep my identity as a scholar as long as I can.” As a researcher, Jeong will continue on devoting his passion. Yun Ji-hyun uni27@hanyang.ac.kr Photos by Choi Min-ju

2017-03 14 Important News

[Academics]Way to Improve Korean Healthcare Ecosystem by U-healthcare System

Professor Lee Chang-won of School of Business is an expert in the field of healthcare management. From his years at graduate school in the United States, Lee became interested in telemedicine, so-called ubiquitous healthcare (u-healthcare) that can provide healthcare service and treatments to its patients regardless of time and location. After coming back to Korea, Lee started to study more deeply about healthcare management and also wrote a paper on how to effectively and efficiently allocate hospital resources. One of his most recent paper, “Improving healthcare quality: A technological and managerial innovation perspective,” specifically researched on quality characteristics of u-healthcare services for a health care service that influences users’ (hospital staffs) usage intentions. Prof.Lee is an expert in the field of healthcare management. The background of u-healthcare system starts with the aging society, a society with more than 7 percent of people who are older than 65 in a whole population. Such social changes have become a serious problem in many countries. In Korea as well, due to the increasing life expectancies and lowering birth rate, there are increasing number of elderlies. Societal aging influence on nearly every factor that affect an individual’s life quality, from economic growth, labor markets, housing, and health. To be more specific, it leads to reduction of productive workforce, while the costs of healthcare for the elderly greatly increases. Thus, it became crucial for the Korean government’s policy makers to initiate an innovative IT-based healthcare system to help people get access to qualified, but more affordable healthcare services. “In the case of patients who need regular medicine subscription or examination, it is unnecessary for them to visit hospitals every time. I think the u-healthcare system will be useful for both patients who requires long-term care and who lives far away from hospitals,” said Professor Lee. “There are various identified quality characteristics of u-health care. It includes, connectivity, compatibility, complexity, perceived benefit, and perceived trust. It was our purpose of the study to research on how such characteristics actually influence on the usage attention of hospital staffs,” explained Professor Lee. Thus, it is crucial for Korea’s policy makers to understand usage intentions of its stakeholders to later plan and implement the system better. To do so, Prof. Lee and his team did an empirical research on the 142 staff (physicians, nurses, technicians, and administrative staff) of hospitals in Korea. They used multiple survey methods via both online and offline to collect the needed data. The survey included about 3-4 pages of questions to understand their wiliness for new u-healthcare. The graph shows the overall framework of the research done in the paper. (Photo courtesy of Prof. Lee) The result showed several interesting connection or relevance between the characteristics of u-healthcare and usage intention of hospital staffs. First, it showed positive relationships with connectivity, compatibility and performance expectancy. It explained how an individual expects themselves to perform better with u-healthcare system when one has an ability to connect with u-healthcare system anytime anywhere. On the other hand, complexity and performance expectancy showed negative responses from the staffs. If a system is complex and difficult, taking more time to handle easily, it showed that their expectancy of performance is likely to reduce. “There were also quite high conservative responses from some of the staffs from the concern that u-healthcare is more accessible and affordable to patients,” said Prof Lee. “However, this study identifies benefits of u-healthcare system. Thus, it is a new task for us to suggest a new solution for people who are reluctant to adopt and use new technologies,” added Prof. Lee. Last but not least, Prof. Lee shared some more thoughts about the future of healthcare industry or management. “I feel that there are still misconceptions about “managing” healthcare and hospitals, people easily think that those two concepts of hospital and management cannot go along since management is all about seeking a private interest of a business organization. I think we definitely need a change of recognition,” said Prof. Lee. According to him, healthcare business or management should be more comprehensively compromised on consensus made among key players of healthcare ecosystem. “Managing an organization is not about promoting an interest of a certain group of people, but it is about considering the purpose (or mission) of every individual organization resulting in making a better society,” concluded Prof. Lee. Prof. Lee will continuously strive to develop better hospital ecosystem in Korea. Yun Ji-hyun uni27@hanyang.ac.kr Photos by Kim Yoon-soo

2017-01 23 Important News

[Academics]How the Spiral of Science Affects Global Opinion (1)

Professor Sohn Dong-young of the Department of Media & Communication is an expert in the field of Computational Social Science, Social Network and Collective Action, Media Psychology, and Persuasive Communication. He also actively introduces his papers in academic journals including the Journal of Communication, New Media & Society, Journal of Computer-Mediated Communication, Journal of Advertising, and Journalism & Mass Communication Quarterly. This week, News H met with Sohn to discuss about his recent paper, “Collective Dynamics of the Spiral of Silence: the Role of Ego-Network Size”, which explains how the local spiral of silence phenomenon can influence global opinion, and how the social media affect people’s formation of opinion. Sohn is explaining about his paper. In the past when internet connection hadn't been well-established, groups of people with various opinions couldn't be conjoined. However, thanks to the Internet, people can now freely share their opinions with one another through various media platforms like social networking sites (SNS). “This paper mainly explains how more networking formed between individuals increases the possibilities of a phenomenon called ‘the spiral of silence’,” said Sohn. According to 'spiral of silence’ theory, which is used as a major explanatory mechanism in the field of public opinion, an individual is less likely to assert one’s opinion if one is aware of the fact that that opinion is non-mainstream. “To give an example, let’s assume that more people in a certain region think abortion should be deemed illegal, and such opinion is more publicly accepted and widespread. This leads another group of people, who think it should be legal, hesitate to express their thoughts out loud. It is due to the fear that one could be isolated from the rest of the society," said Sohn. What Sohn researched on is how this well-known theory can be proved to exist in a certain environment. Sohn used computer simulations to test and prove his theories. “We made a computer simulation program composed of 1000 people. We set the program on each individual to increase the credibility on others' opinions, and we found out that an individual gives more credit to opinions that are more popular and supported. "On the other hand, opinions from minorities received much less credits from an individual,” Sohn explained. The program also widened the scope of the networking environment for each individual in order to see when one would be more willing to raise their voice. “After the examination, we found that the spiral of silence phenomenon occurs differently according to the size of a network each individual is in." When an individual is within a small-sized network, having a lesser chance to acknowledge others’ opinions, that person cannot tell if his or her opinion is that of the mass or of the minority. Opinions will consequently be polarized. But as the scope of a network grows, the individual has the chance to see and hear opinions of others better, being able to self-check which side they belong to. This directly leads to the spiral of silence phenomenon. “While social science research has a rather big gap formed between theories and practical research, I believe we can develop more sophisticated theories with computer simulations. This will further shorten the distance between speculative research and practical data, allowing research like mine become more useful in our society,” posited Sohn. Sohn said it is more important for students to ask 'why' than merely struggling to obtain an answer. Yun Ji-hyun uni27@hanyang.ac.kr Photos by Choi Min-ju

2016-12 05

[Academics]Earthquake Spectra and Sound Structures

Professor Han Sang-whan of Department of Architectural Engineering is an expert in the field of earthquake and structural engineering. “More recently from the earthquake that hit Gyeongju on September 12th this year, there is an increasing awareness regarding the safety of buildings,” said Han. Thus, he has been researching on improving the standards of buildings before and after it is constructed. His recent papers, “Effect of connection rotation capacities on seismic performance of IMF systems” and “Building Height Limits for Steel Intermediate Moment Frames” specifically shed light on enduring an earthquake's seismic power. Accurate prediction of seismic loading and production There are three different steps to the research when it comes to evaluating a building’s performance regarding its safety. “First, it is essential to predict and calculate accurate magnitude of an earthquake force when one is trying to build a building at a specific place,” said Han. The research used the program that predicts possible earthquake activities and its effect on other different regions within Korea. It is able to do so as the program considers all the past earthquakes which occurred in Korea, all differing in location and magnitude. With this program model that shows the scale of magnitude that affects farther locations, it is able to anticipate other possible earthquakes and their effects. An example of a simulated ground motion due to the Gyeongju earthquake. (Photo courtesy of Han) Developing an analysis model to evaluate the safety of a building The next step is also critical, which is to establish a precise analysis model to evaluate a seismic performance of a building. It is important to know whether a structure is capable of enduring the effect of earthquake. “It can be done by an experiment in a lab, but it is hard to do so with large buildings due to its size and financial issues. As an alternative, an analysis model can be used as an alternative to evaluate instead through a computer program,” said Han. It is crucial for the analysis model to be on the point to exactly evaluate other buildings’ performances. “One of the top priorities of a building when an earthquake hits, is to prevent loss of human lives. Thus, the analysis accurately predict responses of buildings structure subjected to not only small earthquake ground motion but also large earthquake ground motion causing the buildings to collapse,” said Han. Such analysis model is based on the conventional mechanics theory. But the theory itself cannot solely explain the rotation capacities of various factors inside a building due to the complexity of the components and their connections of building. It is therefore necessary to conduct experimental tests for the component of building structures to develop and improve analysis models for every parts of the building. Experiments of different parts of components are also combined to make analysis models more accurate. (Photo courtesy of Han) Last but not least, by using the developed analysis model and seismic force, it is able to evaluate the safety of a building towards an earthquake. The method of evaluating the seismic performance of a building has been developed, which can accurately assess the safety of the building both before and after it is constructed. Within the flow of Han’s research, the paper specifically contains an experiment on this level, which is evaluating the seismic performance of IMF (Intermediate Moment Frames) with connections having a rotation capacity of 0.02 radian. To put it easily, as mentioned above, it refers to the moment connections of a building and 0.02 radian is a designated minimum rotation capacity of moment connections that was defined by US seismic design standard AISC 341-10(a model standard of Korean seismic design). Through the research and experiments went on, it was observed that the rotation capacity of 0.02 radian could not successfully guarantee the satisfactory seismic performance of IMFs. Thus, the paper suggested the number of rotation capacity to improve the safety standard. The following research that Han and his co-researchers are committed to is quite promising, as it is currently being introduced to the architectural standards of the US. “We hope our research could later motivate domestic buildings to meet safer standards,” concluded Han. "I hope my research could contribute to the making of a safer world against earthquakes." Yun Ji-hyun uni27@hanyang.ac.kr Photo by Choi Min-ju

2016-11 07

[Academics]Finding a Way to Develop Better Algorithms

Professor Koh Young-woo of the Department of Economics and Finance is an expert in the field of microeconomic theory, market design and mechanism design. His main research interest is relevant to studies of matching and auction theory. His recent paper, “Decentralized College Admissions” researched on decentralized college admissions with uncertain student preferences. Since schools strategically target students when students’ preferences of schools are unknown, a matching between colleges and students is often inefficient and unfair. Koh wrote the paper to detect unfairness in college admissions. “When colleges admit students every new year, they strategically accept some students who are possibly overlooked by other colleges, or competitors. When that happens, highly ranked students, who are better qualified in their scores, essays, or interviews perhaps, may receive fewer admissions or have a higher chance of receiving no admissions than those students who are ranked below,” explained Koh. In the paper, there are two colleges, each with its limited capacity of students they can admit, and a unit mass of students. Colleges make admission decisions based on two attributes of a student: a score that is common to all colleges, and a ‘fit’ that is college specific (essays, exams, or extra-curricular activities). Colleges rank students according to their scores and fits but they have no way to observe students’ preferences, which causes uncertainty. While such uncertainty leads to unfair outcomes, it also shows inefficient equilibrium as some colleges leave their seats unfilled although there are unmatched students who could have been welcomed by other colleges. “Thus, strategic targeting and biased admissions make the outcome also unfair in other dimensions. It creates what is called ‘justified envy’, when a mass of students are unable to enroll in their preferred schools because the schools are taking students who are ranked below them,” said Koh. To cope with such congestion, colleges employ additional measures like restricting the number of applications students can apply to or admitting students in sequence by putting them on the waiting list. However, it is hard to say that these additional measures eliminate aforementioned undesirable outcomes. Even when colleges make their waiting lists, it is hard to determine or expect which students will enroll as time is limited for the students to make their choices. The solution to this problem could be to centralize the matching through ‘deferred acceptance’. Deferred acceptance can be seen when students apply to high schools. It was actually devised and used in New York. Students report their preference orders to the clearing house, which then the information is used to simulate the following algorithm: at the first round, students apply to their most preferred schools, and the schools tentatively admit favorable students up to their capacities and reject the rest. The rejected students then apply to their second choice, and the schools reject lower-ranked students below their capacities. This process is repeated until no further applications are made. “More students are satisfied by this method, as more students and schools can find a better match for one another,” said Koh. Unfortunately, it is hard to expect a centralized admission in colleges as there are different qualifications schools want from students unlike high schools. Different and complex admissions are less likely to be perfectly merged into a single algorithm. “Thus, more research and studies have to be followed to develop a better algorithm to reduce unfairness, and to increase efficiency and effectiveness of the matches,” added Koh. “I think new ways of matching in many other circumstances like donating organs and allocating teachers in public schools can improve the outcomes better,” asserted Koh. “While the resources are limited and there are more people who want it, we can better utilize resources just by allocating with more efficiency, leaving more people satisfied as a result.” Koh will be researching further on matching. Its mechanisms is hoped to be applied to different circumstances in our society. Yun Ji-hyun uni27@hanyang.ac.kr Photos by Choi Min-ju