作者：Siggelkow, N
作者单位：University of Pennsylvania
摘要：Systems composed of activity choices that interact in nonsimple ways can allow firms to create and sustain a competitive advantage. However, in complex systems, decision makers may not always have a precise understanding of the exact strength of the interaction between activities. Likewise, incentive and accounting systems may lead decision makers to ignore or misperceive interactions. This paper studies formally the consequences of misperceiving interaction effects between activity choices. O...
作者：Detemple, J; Tian, WD
作者单位：Boston University; Universite de Montreal
摘要：W e present an integral equation approach for the valuation of American-style derivatives when the underlying asset price follows a general diffusion process and the interest rate is stochastic. Our contribution is fourfold. First, we show that the exercise region is determined by a single exercise boundary under very general conditions on the interest rate and the dividend yield. Second, based on this result, We derive a recursive integral equation for the exercise boundary and provide a para...
