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Getting performance when generating financial reports and doing auditing work currently requires a real time management of multiple data formats and dimensions of analysis but also processing speed, flexibility, portability, automation and power of suggestion. This article brings a number of...
Persistent link: https://www.econbiz.de/10012970772
We study the experimentation dynamics of a decision maker (DM) in a two-armed bandit setup (Bolton and Harris [1999 … optimal experimentation strategy that turns out to follow a cut-off rule with respect to her belief process. The belief …
Persistent link: https://www.econbiz.de/10012852164
Getting the performance in audit work currently requires some additional conditions related to the multitude of issues to be analyzed for the same problem, numerous data sources, quality, speed, flexibility, high power of suggestion and automation in reporting activity. This paper presents using...
Persistent link: https://www.econbiz.de/10013046623
English Abstract: Under the current conditions where the smooth running of the audit activity involves taking into account the multiple aspects to be analyzed for the same problem and, very often, several data sources, the quality, speed and flexibility of reporting in strict relation with the...
Persistent link: https://www.econbiz.de/10013046625
In many inventory control contexts, inventory levels are only partially (i.e., not fully) observed. This may be due to non-observation of demand, spoilage, misplacement, or theft of inventory. We study a periodic review inventory system where the unmet demand is backordered. When inventory level...
Persistent link: https://www.econbiz.de/10012705829
We consider the problem faced by a firm that receives highly differentiated products in an online fashion. The firms needs to price these products to sell them to its customer base. Products are described by vectors of features and the market value of each product is linear in the values of the...
Persistent link: https://www.econbiz.de/10013242948
The paper examines the problem of portfolio selection based on the forecasts of unknown quality in a mean-variance framework. Early work by Treynor and Black (1973) established a relationship between the correlation of forecasts, the number of independent securities available and the Sharpe...
Persistent link: https://www.econbiz.de/10013061761
We consider a newsvendor problem with partially observed Markovian demand. Demand is observed if it is less than the inventory. Otherwise, only the event that it is larger than or equal to the inventory is observed. These observations are used to update the demand distribution from one period to...
Persistent link: https://www.econbiz.de/10012751642
The newsvendor problem is relatively easy to solve when the distribution of demand for newspapers is known. When the demand is unknown, the newsvendor faces a dual problem in the sense of Feldbaum (1960): to choose a decision variable that maximizes profit in the present period, and choose a...
Persistent link: https://www.econbiz.de/10012751655
The goal programming (GP) is a well-known approach applied to multi-criteria decision making (M-DM). It has been used in many domains and the literature offers diverse extensions of this procedure. On the other hand, so far, some evident analogies between M-DM under certainty and scenario-based...
Persistent link: https://www.econbiz.de/10012388744