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Optimal Strategies for Divestiture

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  • R. H. Hayes

    (Graduate School of Business Administration, Harvard University, Boston, Massachusetts)

Abstract

This paper examines a class of optional stopping problems in the context of the divestiture of an asset by a business or an individual. It first describes and analyzes a simple version of the problem, and then considers various generalizations, which are reduced to modified versions of the original problem. Next, it examines a heuristic procedure for obtaining approximate solutions, together with an analysis of the sensitivity of the criterion to a nonoptimal decision rule. Finally, it discusses the effect of a nonstationary environment on the divestiture strategy.

Suggested Citation

  • R. H. Hayes, 1969. "Optimal Strategies for Divestiture," Operations Research, INFORMS, vol. 17(2), pages 292-310, April.
    • Handle: RePEc:inm:oropre:v:17:y:1969:i:2:p:292-310
    DOI: 10.1287/opre.17.2.292
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