Purchasing models under linear price trends

MaRDI QIDQ1060999zbMATH OpenFDO

Authors B. George

Publication date 1985

Published in Opsearch (Search for Journal in Brave)

zbMATH Keywords

linear price trendpurchasing modelsrandom price changes

Mathematics Subject Classification ID

Operations research and management science (90B99)

Review text

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.

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(2)

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