Adaptive disposal models

C. Derman, G. J. Lieberman and S. M. Ross

Naval Research Logistics Quarterly, 1979, vol. 26, issue 1, 33-40

Abstract: This paper reconsiders the classical model for selling an asset in which offers come in daily and a decision must then be made as to whether or not to sell. For each day the item remains unsold a continuation (or maintenance cost) c is incurred. The successive offers are assumed to be independent and identically distributed random variables having an unknown distribution F. The model is considered both in the case where once an offer is rejected it may not be recalled at a later time and in the case where such recall of previous offers is allowed.

Date: 1979
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Persistent link: https://EconPapers.repec.org/RePEc:wly:navlog:v:26:y:1979:i:1:p:33-40

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