Economic evaluation model for international standardization of technology

Yoonseong Kim, Hong Sik Kim, Hyejin Jeon, So Young Sohn

Research output: Contribution to journalArticle

3 Citations (Scopus)

Abstract

This paper proposes an economic evaluation model for international standardization to support the decision-making process of technology development and standardization. We make use of a cost of ownership (COO) model for analyzing both expected-benefit and cost-of-technology development and standardization. Then, we apply the proposed model to a case of radio frequency identification (RFID) technology by establishing four potential scenarios. From the scenario analysis, the expected profit of the international standardization is evaluated for each scenario. We also perform sensitivity analysis to consider the effect of various parameter settings. This paper is expected to lead companies in the choice of the best strategy of technology development and standardization that would bring maximum profit.

Original languageEnglish
Pages (from-to)657-665
Number of pages9
JournalIEEE Transactions on Instrumentation and Measurement
Volume58
Issue number3
DOIs
Publication statusPublished - 2009 Jan 1

Fingerprint

standardization
Standardization
economics
Economics
evaluation
Profitability
costs
decision making
sensitivity analysis
Radio frequency identification (RFID)
Sensitivity analysis
Costs
radio frequencies
Decision making
Industry

All Science Journal Classification (ASJC) codes

  • Instrumentation
  • Electrical and Electronic Engineering

Cite this

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Economic evaluation model for international standardization of technology. / Kim, Yoonseong; Kim, Hong Sik; Jeon, Hyejin; Sohn, So Young.

In: IEEE Transactions on Instrumentation and Measurement, Vol. 58, No. 3, 01.01.2009, p. 657-665.

Research output: Contribution to journalArticle

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