This paper studies the infinite horizon optimal consumption with a path-dependent reference under the exponential utility. The performance is measured by the difference between the non-negative consumption rate and a fraction of the historical consumption maximum. The consumption running maximum...

Conceptualizes a model of customer service‐based segmentation derived from the elaboration likelihood model (ELM). Logistics organizations are utilizing improved customer service to achieve competitive advantage. However, these firms must segment customers to avoid escalating their service...