Should We Opt for the Black Friday Discounted Price or Wait Until the Boxing Day?

We derive an optimal strategy for minimizing the expected loss in two-period economy when a pivotal decision needs to be made during the first time period and cannot be subsequently reversed. Our interest in the problem has been motivated by the classical shopper's dilemma during the Black Friday promotion period, and our solution crucially relies on the pioneering work of McDonnell and Abbott on the two-envelope paradox

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Year of publication:	2016
Authors:	Wu, Jiang
Other Persons:	Zitikis, Ricardas (contributor)
Publisher:	[2016]: [S.l.] : SSRN

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Extent:	1 Online-Ressource (16 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: The Mathematical Scientist (Forthcoming), 2017 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments March 20, 2016 erstellt
Classification:	C5 - Econometric Modeling ; C6 - Mathematical Methods and Programming ; D4 - Market Structure and Pricing ; R3 - Real Estate Markets, Spatial Production Analysis, and Firm Location
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012977303