From: A multidimensional review of the cash management problem
Reference | Model | Cash flow | Cost function |
---|---|---|---|
Baumol (1952) | Deterministic | Uniform | Linear (F) |
Tobin (1956) | Deterministic | Uniform | Linear (F,V) |
Miller and Orr (1966) | Bound-based | Random walk | Linear (F) |
Eppen and Fama (1969) | Bound-based | Random walk | Linear (F,V) |
Daellenbach (1971) | Bound-based | Non-stationary | Linear (F,V) |
Stone (1972) | Bound-based with forecasts | Predictable | None |
Constantinides and Richard (1978) | Bound-based | Diffusion | Linear (F,V) |
Penttinen (1991) | Bound-based | Exponential | Linear (F,V) |
Gormley and Meade (2007) | Bound-based with forecasts | Empirical | Linear (F,V) |
Chen and Simchi-Levi (2009) | Bound-based | Density function | Linear (F,V) |
Baccarin (2009) | Unconstrained | Diffusion | Polynomial |
Bensoussan et al. (2009) | Unconstrained | Known value | Linear (V) |
da Costa Moraes and Nagano (2014) | Bound-based | Normal | Linear (F,V) |
Salas-Molina et al. (2018) | Bound-based | Data set | Linear (F,V) |
Schroeder and Kacem (2020) | Unconstrained | Bounded | Linear (F,V) |
Salas-Molina et al. (2020) | Unconstrained | Predictable | Linear (F,V) |