EPRC Experiment Policy

All the experiments conducted in the lab of the EPRC are approved by the institutional Review Board at Keimyung University or other institutions.
 This lab uses identity information only on the purpose of inviting participants to experiments.

● This lab does not share identity information wit other institutions.
● You can delete your information (i.e. phone number) from our database whenever you wish.
● If you have any questions, please send an email to choisu@kmu.ac.kr.
1. General rules :
● No food or drink or personal use of phones is allowed in the lab.
● Files should be moved off of local machines as soon as possible.
    - Any files an experimenter leaves on a local machine may be deleted without notice
    - EPRC is not responsible for your lost files.
2. Registering as a EPRC experimenter :
● Postdocs, Visitors, Grad RAs, and Undergrad RAs may be registered only under EPRC director sponsored protocol.
● Violations of any EPRC policy may result in suspension of EPRC privileges and, in serious cases, notification to the Keimyung IRB and/or the Keimyung administration.
3. Approval for running an experiment at EPRC :
● Prior to running any sessions, each new experiment must be approved by the director, Sunghee Choi.
    - Submit a copy of the IRB approval and a sample copy of your experiment's instructions to choisu@kmu.ac.kr.

본 센터(EPRC)의 실험실에서 실행하는 연구는 모두 계명대학교 혹은 다른 연구기관의 생명윤리위원회(institutional Review Board)의심의를 받습니다.

● 본 센터는 피실험자 모집 공고 이외의 목적으로 개인식별정보를 활용하지 않습니다.
● 본 센터는 개인식별정보를 타기관과 공유하지 않습니다.
● 본 센터에 등록된 연락처 등 개인식별 정보의 삭제를 원하실 경우 언제든지 삭제가능합니다.
● 기타 문의사항은 choisu@kmu.ac.kr 로 문의해 주십시오.

1. 일반규칙 :

● 실험실 내에서 음식물 섭취 및 피실험자의 개인 통신기기의 사용은 허락되지 않습니다.
● 실험 후 생성된 파일 관리는 실험자 본인이 책임집니다.
- 실험자가 실험실에 남겨놓은 파일은 경고없이 지워질 수 있습니다.
- 실험자가 잃어버린 어떠한 파일에도 EPRC는 책임이 없습니다.

2. EPRC 실험자 등록 :
● EPRC에서 실험 디자인, 구성, 실행, 감독에 참여하는 모든 사람은 실험자로 등록돼야 합니다. 모든 이용자들은 반드시 '인간대상연구'에 대한 훈련 과정을 마쳤음을 확인해주는 확인서를 제출하여야 하고, EPRC 정책들을 이행할 것에 동의해야 합니다. 이 사항은 교수, 방문 교수, 박사 후 과정 연구자, 연구조교를 포함한 모든 사람에게 적용됩니다. 지원을 원하는 경우 choisu@kmu.ac.kr 로 메일을 보내 주십시오.
● EPRC 정책을 위반하면 실험실 사용이 금지 될 수 있습니다. 그 위반이 심각한 경우에는, 계명대학교 IRB 또는 계명대학교 본부로부터 경고를 받을 수 도 있습니다.

3. EPRC 실험 진행에 대한 승인
● 모든 EPRC의 실험들은 반드시 최성희 교수가 승인해야 합니다.
- 실험자는 IRB 승인 증명 문서 및 실험 계획서를 choisu@kmu.ac.kr 으로 제출하여 주십시오.

Current projects : 2022.05~Present

Denzau and North's Shared Mental Models for Social Norm and Energy Conservation in Residential Sector  

Choi, Hwang and Denzau (2021) found that social norm was not effective for encouraging energy conservation in Korea because the residents did not share mentally the social consensus of "reducing energy use when knowing that mine exceeded similar others". Based on the shared mental models (Denzau and North, 1994), our lab is developing theoretical framework and designing a way to build up social norm in community for helping the community members taking the norm as a significant factor of their energy consumption and conservation. 

Agent-based Model Designing and Developing for the Korean Electricity Market-Economy System 

How do electricity consumers respond to a variety of deregulation policies in Korea? As the risk and uncertainty tend to be rising longer in the global energy market, deregulation and restructuring inquiries for energy market efficiency are strongly encouraged in Korea which heavily depends on imported energy. Especially, among energy industries, the electricity industry has been taking persistent attention from policy makers as a restructuring target in Korea and to be discussed whether the restructuring could be successful for the social welfare. Although many agent-based models for electricity markets have been developed by renowned institutions, such as, Argonne National Lab, Iowa State Univ., Imperial College, etc, but there is a still debate about "Which model should be employed to measure benefits and harms of the restructuring policies on the market and entire economy?" More specifically, a critical question is to find a model to be best fitted for Korean electricity consumer's heterogeneous characteristics which has not been considered yet in existing models and research. With substantial supports by Korean government institutions, EPRC staff attempts to design and develop the most appropriate "agent-based model" for explaining Korean electricity market as well as other economic sectors.

Reactions to Risk and Uncertainty: Private vs. Public Corporations   

Choi, Salam, and Kim (2020) found the foreign currency derivatives use has different effect on firm's value by type of firms in Bangladesh, implying that corporation type is an important condition for analyzing corporate risk management because profit structure of firm is different by type of firm. From the two largest databases containing micro-level information on Korean firms, KISVALE and KISLINE, we explore how private and public corporations differently react to risk and uncertainty during the past two decades including the COVID pandemic.  

Experimental Public Choice with Korean Cases and Eye-tracking Experiment

We conduct experiment on key public choice issues, such as, public goods, voter turnout and participation games, rent seeking and lobbying, and spatial voting. Our experiment results suggest the power of eye-tracking experiment as well as unique evidence from Korean samples