柔性收益管理模型:基于实物期权的新视角

以企业的容量控制决策为例,尝试从实物期权理论的新视角来研究不确定条件下企业收益管理(RM)问题,建立了一个柔性RM模型,以此来填补实物期权在此方面应用研究的空白和不足。求出了最佳容量投资时机和最优容量控制规模,在此基础上利用比较静态分析和模拟分析进一步探讨了风险对容量控制决策的影响规律。研究发现,在容量控制规模和投资期限既定的条件下,最佳容量投资时机随风险的增强而逐渐推迟,且最优容量控制规模随风险的增加呈现递增的趋势;企业存在过度投资行为。

Flexible Revenue Management Model：a Real Options Perspective

Taking the enterprise decisions on capacity control for example,a flexible revenue management （RM）model is developed to explore how a firm manages revenue on capacity control under uncertainty from the real options perspective, and fill in the gaps of application research on real options in RM.Then the expressions of optimal investment timing and op-timal capacity are obtained.Besides,the comparative static analysis and number example are employed to further analyze the effect laws of risk on the control decisions.Research shows that the optimal timing of investment capacity is delayed by an increase in risk,with the optimal control capacity increased under finite scale and investment horizon.Moreover,there are o-ver-investment behaviors in enterprises.In a word,a new perspective and ideas are provided for the studies and applications of RM.