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Entry-e*t decisions apply to numerous pra*ical problems. For example, wheto extra* oil and wheto stop the extra*ion, wheto issue a new policy and wheto end it, and wheto let a kind of produ* enter a *rket and wheto let the produ* e*t the *rket, etc. Therefore, entry-e*t decisioproblems *tra* a lot of researche*.
There are three approaches to study entry-e*t decisions, namely, real option, pure probability and opti*l stopping. Ithis monograph, we appeal to opti*l stopping to deal with entry-e*t decisions. The *ireasons are as follows. Othe one hand, ithe real optioframework, the regularity of payoff fun*ions is a priori assumed, while the opti*l stopping approach intends to prove it. Othe other hand, although the pure probability and opti*l stopping approaches are both to solve a opti*l stopping problem, we have to calcul*e density fun*ions of some stopping times if applying the pure probability approach, which is not easy, whereas the opti*l stopping one avoids such calcul*ions. We aim to obtaiclosed-form solutions of opti*l entry-e*t decisions for the cases: costs depending ounderlying processes, implement*iowith delay, and underlying processes following geometric Levy processes. Iaddition, we provide a *plete theory for opti*l stopping problems with regime switching, and use it to solve ae*t problem.
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