Abstract
The paper considers a dynamic programming formulation of the accounts receivable problem for single outstanding amounts. An optimal collection policy can be computed efficiently by invoking a “planning horizon” result that determines a time period beyond which the decision process cannot extend. The optimality of so called monotone policies is shown under rather intuitive restrictions on the collection probabilities.
Original language | English |
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Pages (from-to) | 221-224 |
Journal | OR Spectrum = OR Spektrum |
Volume | 3 |
Issue number | 4 |
DOIs | |
Publication status | Published - 1982 |