Dirickx, Yvo M. I.; Wakeman, Lee - In: Management Science 22 (1976) 11, pp. 1229-1237
This paper extends the Bierman-Hausman credit-granting model by proving that although the distribution on the probability of collection in the case of failure is no longer a conjugate Beta, it remains tractable; the model therefore need no longer be terminated in the case of failure. Further...