Summary
A profit-maximizing firm operating in a stochastic environment can supplement in any period its estimate of demand with a more or less intensive and a more or less costly market analysis. Similarly it has to decide upon physical stocktakings over time of its inventories. The balancing of information costs and losses caused by decisions based on inexactly known states of the market and the firm leads to optimal market and inventory monitoring policies for the planning period. The problem is solved with a discrete dynamic model of the firm by using the Kalman-filter.
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Literatur:
Deissenberg, Ch. und Stöppler, S.: Optimal Control of LQG-Systems with Costly Measurements, in G. Feichtinger (ed): Optimal Control Theory and Economic Applications, North-Holland, Amsterdam — New York — Oxford 1982, 301–320
Stöppler, S.: Nachfrageprognose und Produktionsplanung bei saisonalen und konjunkturellen Schwankungen, Habilitationsschrift Frankfurt 1980, erscheint bei Physica, Würzburg 1983
Stohr, E.: Information Systems for Observing Inventory Levels, Operations Research 27 (1979), 242–259
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© 1983 Springer-Verlag Berlin Heidelberg
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Stöppler, S. (1983). Optimale Sequenzen von Marktbeobachtungen und Lagerinventuren bei unsicherer Nachfrage. In: Bühler, W., Fleischmann, B., Schuster, KP., Streitferdt, L., Zander, H. (eds) Operations Research Proceedings 1982. Operations Research Proceedings. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-38529-6_30
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DOI: https://doi.org/10.1007/978-3-662-38529-6_30
Publisher Name: Springer, Berlin, Heidelberg
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