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本文基于一种设备在线租赁的基础上,提出了在线设备更新问题。运用传统竞争比方法分别研究了两阶段设备更新问题在有无利率情形下的在线竞争策略,并建立了相应的风险补偿模型,从而在线投资者可以根据自己的风险容忍度和预期选择最优的更新策略。市场利率的引入使得在线设备更新模型更复杂但更贴近于现实中的设备更新问题。最后,通过具体实例进一步说明了市场利率下在线竞争比更小,而且竞争比关于市场利率递减;同时也说明了风险补偿模型中最优约束竞争比要小的多。因此,投资者若考虑到资金的收益及市场风险因素后将会采取更加谨慎稳健的投资策略。
Based on the online leasing of a device, this paper proposes the online device updating problem. The traditional competitive ratio method is applied to study the online competition strategy of two-stage equipment updating with or without interest rate respectively and a corresponding risk compensation model is set up so that online investors can choose the optimal one according to their risk tolerance and expectation Update strategy The introduction of market interest rate makes the online device update model more complicated but more close to the reality of device update. Finally, the paper further shows that the online competition is smaller under the market interest rate and the competition ratio is less than the market interest rate. It also shows that the optimal restraint competition in the risk compensation model is much smaller than the competition. Therefore, if investors take into account the proceeds of funds and market risk factors will take a more cautious and steady investment strategy.