Showing 1 - 10 of 31
The art market is subject to frequent booms and busts in both prices and volume,<br/>which are difficult to reconcile with models where agents are rational and<br/>hold homogenous beliefs. This paper shows that (i) volume is mainly driven by<br/>speculative transactions; (ii) positive price-volume correlation...
Persistent link: https://www.econbiz.de/10011144431
In this paper we discuss demand management problems in a multi-stage distribution chain.We focus on distribution chains … where demand processes have high variability due to a few large customer orders.We give a possible explanation, and suggest … two simple procedures that help to smooth demand.It is shown that these procedures yield stock reductions of 40%-50% in …
Persistent link: https://www.econbiz.de/10011092699
Persistent link: https://www.econbiz.de/10011092943
service level restriction, where demand is modelled as a compound Bernoulli process, that is, with a xed probability there is … positive demand during a time unit, otherwise demand is zero.The demand size and replenishment leadtime are stochastic … variables.It is shown that this kind of mod- elling is especially suitable for intermittent demand.Furthermore, an approximation …
Persistent link: https://www.econbiz.de/10011090684
To model demand, the normal distribution is by far the most popular; the disadvantage that it takes negative values is …
Persistent link: https://www.econbiz.de/10011090825
fraction of demand that can be satisfied from stock.Best-known are the approximations derived from renewal theory by Tijms … specifically, the cases of normally and gamma distributed demand.Here, an exact expression for the fill rate is derived, holding … generally in the situation that demand has a gamma distribution with known integer-valued parameters, while lead time is …
Persistent link: https://www.econbiz.de/10011090965
reorder level is not taken into account, the normal distribution is used as the distribution of demand during lead-time. The … gamma distribution as the demand distribution. Both models are fed with parameters estimated by a procedure that forecasts … demand sizes and time between demand occurrences separately (intermittent demand). The results show that the advanced …
Persistent link: https://www.econbiz.de/10011090984
Persistent link: https://www.econbiz.de/10011092079
Consumers can accumulate product information on the basis of a combination of searching, product advertising and expert advice.Examples of experts who provide product information include doctors advising patients on treatments, motor mechanics diagnosing car problems and recommending repairs,...
Persistent link: https://www.econbiz.de/10011092380
We study financial contagion in an experimental market. There are two assets and an exogenous shock reduces the value of one of the two assets. Whether and how the other asset is affected depends on the correlation between the underlying values of the two assets. In some trials, the...
Persistent link: https://www.econbiz.de/10011144444