earticle

영어

In this paper, we interpret the move decision of baduk by an economic point of view. We then build an economic theory approach to the baduk player's decision making process. We propose a hypothetical baduk valuation function(BVF) and impose such assumptions on the BVF that prevail in economic objective Junctions. From the BVF, we derive testable forms to estimate and test our theory.
We also develop a 2-stage simulated estimation method to resolve the censored dependent variable problem arising from the resigned games. Through this, we can convert the win/lose series of the resigned games to the observable expected point gap series.
The sample data are supportive of our theory. Parameter estimate of the number of total moves variable is significant in both the absolute point gap model and the mere point gap model, which verifies that the economic decision making theory can add some power to explaining the move decision mechanism of the baduk players. In addition, our regression model provides little evidence for the effect of the recent increase of dum on offsetting the first move advantage of the black player.