Essays on Economic Decision Making

My dissertation consists of three chapters and I take different approach in each chapter to investigate economic decision making behavior. The first chapter analyzes individuals strategic decisionmaking when players have replaceable identities and private information in a repeated prisoners dillmma game. The second chapter studies individuals non-strategic decision making when she has incomplete information about her underlying preference in a sequential choice situation. The third chapter experimentally examines a link between an individuals strategic thinking and nonstrategic decision making in a setting designed to elicit beliefs about independent random variables. In the first chapter, I focus on strategic decision making of economic agents when they are replaceable in a repeated prisoners dilemma. I assume that agents have different private information that restricts their set of actions, and that replacement of agent involves change of such private information. In this environment, some agents are required to signal their own private information to induce their opponents cooperative response, which may induce Pareto improvement of their expected continuation payoffs. Except for a trivial equilibrium, we can have non-trivial equilibria supporting cooperative action as a part of the equilibrium play; however, different from the environment with two long-run agents, replaceable agents environment puts a restriction on an existence of the equilibrium in which agents share the risk of type uncertainty equally regardless of the past history. Because of replacement, agents can avoid a full cost of signaling by shifting it to their successor upon their own replacement. As replacement incurs such a situation with a strictly positive probability, the equilibrium cannot avoid failure. In the second chapter I focus on an economic agents optimal decision making in a non-strategic environment. Especially, I study a sequential choice problem where an agents preferences evolve over time. I assume that an agent has an underlying preference, and she learns about her underlying preference depending on her choice histories. Given that an agent makes an optimal decision upon her current available menu, I characterize the sequential choice behavior that follows a Sequential Weak Axiom of Revealed Preference (WARP-S). Using this characterization, I provide criteria for sequential choice data that recovers agents underlying preference. In the third chapter I and my co-author, Duk-Gyoo Kim, focus on a link between an optimal decision making in a non-strategic environment and strategic environment. Our research investigates whether an individual decision maker follows own subjective optimization in a non-strategic decision making, and such a difference in subjective optimization is correlated with strategic decision making pattern. We conducted two separate sessions in the same subject. Each session is designed to identify subjects behavioral pattern in strategic and non-strategic decision making environment respectively. From the data, we observed that subjects behavioral pattern shows significant similarity in two sessions

Assessment of Agricultural Drought Considering the Hydrological Cycle and Crop Phenology in the Korean Peninsula

Hydrological changes attributable to global warming increase the severity and frequency of droughts, which in turn affect agriculture. Hence, we proposed the Standardized Agricultural Drought Index (SADI), which is a new drought index specialized for agriculture and crops, and evaluated current and expected droughts in the Korean Peninsula. The SADI applies crop phenology to the hydrological cycle, which is a basic element that assesses drought. The SADI of rice and maize was calculated using representative hydrological variables (precipitation, evapotranspiration, and runoff) of the crop growing season. In order to evaluate the effectiveness of SADI, the three-month Standardized Precipitation Index, which is a representative drought index, and rainfed crop yield were estimated together. The performance evaluation of SADI showed that the correlation between rainfed crop yield and SADI was very high compared with that of existing drought index. The results of the assessment of drought over the past three decades provided a good indication of a major drought period and differentiated the results for crops and regions. The results of two future scenarios showed common drought risks in the western plains of North Korea. Successfully validated SADIs could be effectively applied to agricultural drought assessments in light of future climate change, and would be a good example of the water-food nexus approach

Assessment of Agricultural Drought Considering the Hydrological Cycle and Crop Phenology in the Korean Peninsula

Hydrological changes attributable to global warming increase the severity and frequency of droughts, which in turn affect agriculture. Hence, we proposed the Standardized Agricultural Drought Index (SADI), which is a new drought index specialized for agriculture and crops, and evaluated current and expected droughts in the Korean Peninsula. The SADI applies crop phenology to the hydrological cycle, which is a basic element that assesses drought. The SADI of rice and maize was calculated using representative hydrological variables (precipitation, evapotranspiration, and runoff) of the crop growing season. In order to evaluate the effectiveness of SADI, the three-month Standardized Precipitation Index, which is a representative drought index, and rainfed crop yield were estimated together. The performance evaluation of SADI showed that the correlation between rainfed crop yield and SADI was very high compared with that of existing drought index. The results of the assessment of drought over the past three decades provided a good indication of a major drought period and differentiated the results for crops and regions. The results of two future scenarios showed common drought risks in the western plains of North Korea. Successfully validated SADIs could be effectively applied to agricultural drought assessments in light of future climate change, and would be a good example of the water-food nexus approach

Bax-dependent apoptosis induced by ceramide in HL-60 cells

AbstractCeramide is an important lipid messenger involved in mediating a variety of cell functions including apoptosis. In this study, we show that antisense bax inhibits cytochrome c release, poly(ADP-ribose)polymerase cleavage and cell death induced by ceramide in HL-60 cells. In addition, ceramide induces translocation of Bax to mitochondria. The addition of the broad spectrum caspase inhibitor zVAD-fmk prevented ceramide-induced apoptotic cell death but did not inhibit translocation of Bax and mitochondrial cytochrome c release. Furthermore, ceramide inhibits the expression of the antiapoptotic protein Bcl-xL with an increase in the ratio of Bax to Bcl-xL. These data provide direct evidence that Bax plays an important role in regulating ceramide-induced apoptosis

Carnosol induces apoptotic cell death through ROS-dependent inactivation of STAT3 in human melanoma G361 cells

Melanoma is the leading cause of skin cancer deaths, and the poor prognosis of metastatic melanoma has made needs for a novel pharmacological treatment or efficient intervention. Carnosol, a major polyphenolic compound from Rosmarinus officinalis, has a wide range of biological activities including anti-cancer effect. However, the underlying molecular mechanisms of its anti-cancer effect remain poorly understood in malignant human melanoma cells. In the present study, we investigate the apoptotic effect and the underlying anti-cancer mechanisms of carnosol. Our results revealed that carnosol strongly induced apoptosis against human melanoma G361 cells in a dose- and time-dependent manner, and caused dramatical elevation in cellular reactive oxygen species (ROS) level during apoptosis. In mechanistic studies, carnosol treatment decreased protein level of anti-apoptotic B‑cell lymphoma 2 (Bcl-2) and B cell lymphoma-extra large (Bcl-xL), however, increased level of pro-apoptotic Bcl-2-associated X protein (Bax) protein. Moreover, carnosol escalated cellular level of p53, which was accompanied by a decline of mouse double minute 2 homolog (MDM2) level. Also, carnosol inhibited activation of Src and signal transducer and activator of transcription 3 (STAT3), therefore down-regulated STAT3-dependent gene expression, such as D-series cyclin and survivin. These changes by carnosol were attenuated by pre-treatment of N-acetyl cysteine, and abolished progression of carnosol-induced apoptosis. In conclusion, carnosol induced apoptosis in human melanoma G361 cells through ROS generation and inhibition of STAT3-mediated pathway. Our results provide molecular bases of carnosol-induced apoptosis, and suggest a novel candidate for human melanoma treatment.This research was supported by Basic Science Research Program through the National Research Foundation of Korea (NRF) funded by the Ministry of Education (2018R1D1A1A02050495, J.-S. Choi) and by the Ministry of Science, ICT and Future Planning 2017R1A2B4009831, K.- S. Chun)

Molecular mechanisms of heptaplatin effective against cisplatin-resistant cancer cell lines: less involvement of metallothionein

BACKGROUND: Heptaplatin is a new platinum derivative with anticancer activity against various cancer cell lines, including cisplatin-resistant cancer cell lines (Cancer Chemother Pharmacol 1995; 35: 441). METHODS: Molecular mechanisms of heptaplatin effective against cisplatin-resistant cancer cell lines has been investigated in connection with metallothionein (MT). Cytotoxicity was determined by an MTT assay. MT mRNA, was determined by RT-PCR assay. Transfection study was carried out to examine the function of MT. RESULTS: Of various gastric cancer cell lines, SNU-638 and SNU-601 showed the highest and lowest levels of MT mRNA, respectively, showing 80-fold difference. The IC(50 )values of SNU-638 to cisplatin, carboplatin and heptaplatin were 11.2-fold, 5.1-fold and 2.0-fold greater than those of SNU-601, respectively. Heptaplatin was more effective against cisplatin-resistant and MT-transfected gastric cancer sublines than cisplatin or carboplatin was. In addition, heptaplatin attenuated cadmium, but not zinc, induction of MT. CONCLUSION: These results indicate that molecular mechanisms of heptaplatin effective against cisplatin-resistant gastric cancer sublines is at least in part due to the less involvement of MT in heptaplatin resistance as well as its attenuation of MT induction

Soluble Epoxide Hydrolase Activity Determines the Severity of Ischemia-Reperfusion Injury in Kidney

Soluble epoxide hydrolase (sEH) in endothelial cells determines the plasma concentrations of epoxyeicosatrienoic acids (EETs), which may act as vasoactive agents to control vascular tone. We hypothesized that the regulation of sEH activity may have a therapeutic value in preventing acute kidney injury by controlling the concentration of EETs. In this study, we therefore induced ischemia-reperfusion injury (IRI) in C57BL/6 mice and controlled sEH activity by intraperitoneal administration of the sEH inhibitor 12-(3-adamantan-1-ylureido)-dodecanoic acid (AUDA). The deterioration of kidney function induced by IRI was partially moderated and prevented by AUDA treatment. In addition, AUDA treatment significantly attenuated tubular necrosis induced by IRI. Ischemic injury induced the down-regulation of sEH, and AUDA administration had no effect on the expression pattern of sEH induced by IRI. In vivo sEH activity was assessed by measuring the substrate epoxyoctadecenoic acid (EpOME) and its metabolite dihydroxyoctadec-12-enoic acid (DHOME). Ischemic injury had no effects on the plasma concentrations of EpOME and DHOME, but inhibition of sEH by AUDA significantly increased plasma EpOME and the EpOME/DHOME ratio. The protective effect of the sEH inhibitor was achieved by suppression of proinflammatory cytokines and up-regulation of regulatory cytokines. AUDA treatment prevented the intrarenal infiltration of inflammatory cells, but promoted endothelial cell migration and neovascularization. The results of this study suggest that treatment with sEH inhibitors can reduce acute kidney injury

Investigation of Enhanced Polygon Wall Boundary Model in PNU-MPS Method

With regard to demonstration of fluid flow, there are two descriptions which are Eulerian description and Lagrangian description. In the field of CFD (Computational Fluid Dynamics), a number of studies relevant to grid method based on Eulerian description have been conducted generally. However, when the grid method is employed to simulate flow field, it is inevitable to give consideration to convection term which generates severe numerical diffusion and fluctuation. To obtain the accuracy of solution, a different type of method based on Lagrangian description is come to the fore. Numerical approaches following Lagrangian description have been called meshfree or particle method. Even though particle method does not accompany convection term and fully satisfies conservation of mass, its studies have not been carried out extensively because it is difficult to implement the boundary conditions correctly due to insufficient number of particles in the vicinity of boundary. It affects directly the stability of flow field and accuracy in computation. In MPS (Moving Particle Semi-implicit) method [1], fixed-type of dummy particles are placed inside wall boundary. By placing extra particles as the wall, it seems to be not easy to satisfy the boundary condition for sharp-edged or extremely thin body configuration. In this study, the enhanced polygon wall boundary model, which was suggested originally by Mitsume et al. [2], is employed to the PNU-MPS (Pusan-National-University-modified MPS) method [3] to improve and stabilize the analysis of fluid flow with arbitrary-shaped body including sharp-edged body configuration without any additional particles. The developed simulation method, called as PNU-MPS-POLY, is adopted to the Couette flow and the lid-driven cavity flow with various corner angles. The present simulation results are validated through comparison with the analytic solutions, the experiments [4], and other simulation results [5,6]

Flora of Vascular Plants in Ridgelines in the Palgongsa Procincial Park, Korea

AbstractWe investigated and analyzed the flora of vascular plants around ridgelines in the Palgongsan Provincial Park to suggest fundamental data for establishing preservation plans of them. The flora of vascular plants around ridgelines was a total of 587 taxa including 102 familiies, 314 genera, 518 species, 58 varieties, 7 forma, and 4 subspecies. Rare plants designated by Korea Forest Service were 27 taxa including Semiquilegia mandshurica and Aristolochia manshuriensis. Endemic plants were 15 taxa including Clematis trichotoma and Carex okamotoi. Floristic special plants were a total of 100 taxa including all five classes. Naturalized plants were 13 taxa including Phytolacca Americana, ambrosia, and Taraxacum officinale