作者：Oliva, R; Sterman, JD
作者单位：Harvard University; Massachusetts Institute of Technology (MIT)
摘要：The erosion of service quality throughout the economy is a frequent concern in the popular press. The American Customer Satisfaction Index for services fell in 2000 to 69.4%, down 5 percentage points from 1994. We hypothesize that the characteristics of services-inseparability intangibility and labor intensity-interact with management practices to bias service providers toward reducing the level of service they deliver, often locking entire industries into a vicious cycle of eroding service st...
作者：Davydov, D; Linetsky, V
作者单位：Northwestern University
摘要：Much of the work on path-dependent options assumes that the underlying asset price follows geometric Brownian motion with constant volatility This paper uses a more general assumption for the asset price process that provides a better fit to the empirical observations. We use the so-called constant elasticity of variance (CEV) diffusion model where the volatility is a function of the underlying asset price. We derive analytical formulae for the prices of important types of path-dependent optio...
