- PII
- S042473880000621-2-1
- DOI
- 10.7868/S0000621-2-1
- Publication type
- Article
- Status
- Published
- Authors
- Volume/ Edition
- Volume 47 / Issue 2
- Pages
- 3-23
- Abstract
- We consider a problem of finding optimal production output when the product price is fi xed and de mand is not stochastic but unknown-the firm meets with informational uncertainly. We get the op timal multi-step strategy to find production output, which minimizes the expected total cost of pro duction (including alternative costs). The case of constant rale changes in demand is considered. It is necessary to treat differently fi nite-step and infinite-step models. The potential of the model is illustrated on the case of the product policy in ZAO “Ford Motor Company” in 2000s.
- Keywords
- Stochastic model, production output, demand uncertainty, optimal strategy.
- Date of publication
- 05.04.2011
- Year of publication
- 2011
- Number of purchasers
- 1
- Views
- 719
RAS Social ScienceЭкономика и математические методы Economics and the Mathematical Methods
- ISSN (Print) 0424-7388
- ISSN (Online) 3034-6177
Determination ofthe optimal production output under informational uncertainty of demand
Indexing
Scopus
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Higher Attestation Commission
At the Ministry of Education and Science of the Russian Federation
Scientific Electronic Library