A diffusion inventory model for deteriorating items (Q1406113)
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scientific article; zbMATH DE number 1977984
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| English | A diffusion inventory model for deteriorating items |
scientific article; zbMATH DE number 1977984 |
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A diffusion inventory model for deteriorating items (English)
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9 September 2003
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The authors consider the problem of finding the optimal impulse control schedule for a stochastic inventory model for deteriorating items. It is shown that this problem can be studied in the general frame of parabolic quasi variational inequalities. As a special case, they use this approach to solve the second-order obstacle problem. Some background material is also provided. It is a nice paper with interesting results. Such type quasi variational inequalities are being used to study the risk analysis in finance.
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quasi variational inequalities
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diffusion inventory model
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optimal impulse control schedule
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second-order obstacle problem
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risk analysis in finance
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0.7822077870368958
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0.7775677442550659
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0.7699272036552429
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0.7692990899085999
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