Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
10398813 | Automatica | 2011 | 10 Pages |
Abstract
Numerical results illustrate the validity of our approach and show the impact of uncertainties and delay effects on optimal economic strategies. During the recession, delayed optimal prices are higher than the non-delayed ones. In the normal economic period, however, this effect is reversed and optimal prices with a delayed impact are smaller compared to the non-delayed case.
Related Topics
Physical Sciences and Engineering
Engineering
Control and Systems Engineering
Authors
Tony Huschto, Gustav Feichtinger, Richard F. Hartl, Peter M. Kort, Sebastian Sager, Andrea Seidl,