Wyniki wyszukiwania

Sortuj według:

Ogranicz wyniki do:

Explicit formulae of distributions and densities of characteristics of a dynamic advertising and pricing model

100%

Helmes K., Templin T.

Banach Center Publications

2015

tom 105

nr 1

119-142

We analyze the optimal sales process of a stochastic advertising and pricing model with constant demand elasticities. We derive explicit formulae of the densities of the (optimal) sales times and (optimal) prices when a fixed finite number of units of a product are to be sold during a finite sales period or an infinite one. Furthermore, for any time t the exact distribution of the inventory, i.e. the number of unsold items, at t is determined and will be expressed in terms of elementary functions. Approximations of the densities of sales times by particular beta densities are proposed. Results related to the infinite horizon model are by-products of the finite horizon analysis.

Artykuł dostępny w postaci pełnego tekstu - kliknij by otworzyć plik

Optimal timing of partial outsourcing decisions

100%

Helmes K., Templin T.

Mathematica Applicanda

2014

tom 42

nr 1

This article combines a real options approach to the optimal timing of outsourcing decisions with a linear programming technique for solving one-dimensional optimal stopping problems. We adopt a partial outsourcing model proposed by Y. Moon (2010) which assumes profit flows to follow a geometric Brownian motion and explicitly takes into account the benets and costs of all eorts which a firm spends on the project prior to the outsourcing date. The problem of deciding when to outsource and how much efort to spend is solved when the underlying profit flows or index processes are modeled by general one-dimensional diffusions. Optimal outsourcing times are proved to be of threshold type, and sensitivity results regarding market volatility and other quantities are derived. The corresponding optimal stopping problems are reformulated in terms of finnite dimensional linear programs and nonlinear optimization problems. These reformulations are exploited to prove sensitivity results in a novel way. Specific management recommendations are provided.

Ograniczanie wyników

1 Banach Center Publications

1 Mathematica Applicanda

2 Helmes K.

2 Templin T.

1 2015

1 2014

Wyniki wyszukiwania

Explicit formulae of distributions and densities of characteristics of a dynamic advertising and pricing model

Optimal timing of partial outsourcing decisions