Purchasing models under linear price trends (Q1060999): Difference between revisions

Attempts are made to develop some models of purchasing under the assumption of linear price trend both in deterministic and stochastic situations. In the case where period-wise changes in price are considered random it has been assumed that these changes are independent and are identically distributed where the mean price is a linear function of time. In the situations that have been considered it has been shown that the purchasing rules are given approximately by algebraic formulae.