Industrial competitiveness and regional value are fundamentally consistent yet different in that the former relates to businesses while the latter is concerned with households(regional employment,taxes and the environ...Industrial competitiveness and regional value are fundamentally consistent yet different in that the former relates to businesses while the latter is concerned with households(regional employment,taxes and the environment).In a market-based economy,most enterprises are able to'vote with their feet'and move to regions that are favorable to them.For a region,enterprises contribute to regional value only when they set展开更多
In this paper,we present a new method for finding a fixed local-optimal policy for computing the customer lifetime value.The method is developed for a class of ergodic controllable finite Markov chains.We propose an a...In this paper,we present a new method for finding a fixed local-optimal policy for computing the customer lifetime value.The method is developed for a class of ergodic controllable finite Markov chains.We propose an approach based on a non-converging state-value function that fluctuates（increases and decreases） between states of the dynamic process.We prove that it is possible to represent that function in a recursive format using a one-step-ahead fixed-optimal policy.Then,we provide an analytical formula for the numerical realization of the fixed local-optimal strategy.We also present a second approach based on linear programming,to solve the same problem,that implement the c-variable method for making the problem computationally tractable.At the end,we show that these two approaches are related：after a finite number of iterations our proposed approach converges to same result as the linear programming method.We also present a non-traditional approach for ergodicity verification.The validity of the proposed methods is successfully demonstrated theoretically and,by simulated credit-card marketing experiments computing the customer lifetime value for both an optimization and a game theory approach.展开更多
文摘Industrial competitiveness and regional value are fundamentally consistent yet different in that the former relates to businesses while the latter is concerned with households(regional employment,taxes and the environment).In a market-based economy,most enterprises are able to'vote with their feet'and move to regions that are favorable to them.For a region,enterprises contribute to regional value only when they set
文摘In this paper,we present a new method for finding a fixed local-optimal policy for computing the customer lifetime value.The method is developed for a class of ergodic controllable finite Markov chains.We propose an approach based on a non-converging state-value function that fluctuates（increases and decreases） between states of the dynamic process.We prove that it is possible to represent that function in a recursive format using a one-step-ahead fixed-optimal policy.Then,we provide an analytical formula for the numerical realization of the fixed local-optimal strategy.We also present a second approach based on linear programming,to solve the same problem,that implement the c-variable method for making the problem computationally tractable.At the end,we show that these two approaches are related：after a finite number of iterations our proposed approach converges to same result as the linear programming method.We also present a non-traditional approach for ergodicity verification.The validity of the proposed methods is successfully demonstrated theoretically and,by simulated credit-card marketing experiments computing the customer lifetime value for both an optimization and a game theory approach.
