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On a Class of Optimal Stock Depletion Policies

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  • Jan Mossin

    (Norwegian School of Economics and Business Administration)

Abstract

The following problem is solved by the calculus of variations: How should a monopolist sell off a fixed stock of a commodity so as to maximize the present value of profits if demand per time unit is linear in price and subject to exogenous growth, deterioration is proportional to remaining stock, and carrying cost is proportional to stock.

Suggested Citation

  • Jan Mossin, 1966. "On a Class of Optimal Stock Depletion Policies," Management Science, INFORMS, vol. 13(1), pages 120-130, September.
    • Handle: RePEc:inm:ormnsc:v:13:y:1966:i:1:p:120-130
    DOI: 10.1287/mnsc.13.1.120
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    Cited by:

    1. Mesak, Hani I. & Zhang, Hongkai & Pullis, Joe M., 2010. "On optimal service capacity allocation policy in an advance selling environment in continuous time," European Journal of Operational Research, Elsevier, vol. 203(2), pages 505-512, June.

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