1: Einleitung: Die Zukunft des Luxus -- 2: Die Branche ist etwas Besonderes -- 3: Vorsichtige Schritte in Richtung Digitalisierung -- 4: Kundenzentrierung ist der Schlüssel -- 5: Digitale Transformation der Omni-personal Customer Journey -- 6: Wie man Omni-personal wird -- 7: Fazit: Beginnen...

This paper studies the problem of pricing contingent claims in a market which has frictions in the form of costs, such as penalty functions corresponding to constraints. An arbitrage-free interval is identified, and a fair price based upon utility functions is proposed. It provides a framework...

1: Introduction: the future of luxury -- 2: The industry is special -- 3: Cautious Steps towards Digital -- 4: Customer Centricity is Key -- 5: Digital Transformation of the Omni-personal Customer Journey -- 6: How To Go Omni-personal -- 7: Conclusion: Embark on Your Journey to the Omni-personal...

We study an economy in which the rate of change of population depends on population policy decisions. This requires population as well as capital as state variables. By showing the algebraic relationship between the shadow price of the population and the shadow price of the per capita capital...

We solve an agent's optimization problem of meeting demands for cash over time with cash deposited in bank or invested in stock. The stock pays dividends and uncertain capital gains, and a commission is incurred in buying and selling of stock. We use a stochastic maximum principle to obtain...