Some conditions for reservation on optimal stopping problem with infinite-period reservation (Mathematical Science of Optimization)
Tsuyoshi Saito · Institutional Repositories DataBase (IRDB) · 2000
In Saito [8] it is revealed that in an optimal stopping problem where any offer is allowed to be reserved in exchange for some cost and each reservation is valid indefinitely after the contract, any reserved offer should not be recalled except at the deadline of the planning horizon.It fails to account, however, that what condition makes the action of reservation economically meaningful.On account of this we shall explore the condition in this paper.