委託經營的最適停止決策

Optimal Stopping Decision for the Designated Management

繆震宇(Jerry C. Y. Miao)

《財務金融學刊》 11卷3期 (2003/12) Pp. 121-141

https://doi.org/10.6545/JFS.2003.11(3).4

摘要

本文探討委託經營的最適停止決策，藉由最小化決策損失所建立的最適停止準繩，除了提供委託人一個客觀的標準用以評估受託人之外，此決策準繩與委託人的預定績效有適當的關聯，有助於委託人預定收益之達成，另外、本研究導出一些決策準繩的性質，可以了解各因素對決策準繩的影響，最後、針對一個假設的例子進行數值分析，以增進對模型的了解。

關鍵字

委託經營 ； 最適停止決策 ； 數值分析

並列摘要

This paper studies the optimal stopping decisions for designated management in optimal stopping framework. Under the minimization of expected decision losses we get objective rules to evaluate trustees. Besides, these rules also are helpful for achieving required return for trust. We also find some properties of the optimal stopping criteria and get the criteria for a supposed case by numerical analysis.

並列關鍵字

designated management ； optimal stopping ； numerical analysis

參考文獻

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