首页 | 本学科首页   官方微博 | 高级检索  
     检索      


Existence and uniqueness of optimal dynamic pricing and advertising controls without concavity
Authors:Bertrand Crettez  Naila Hayek  Georges Zaccour
Institution:1. Université Panthéon-Assas, Paris II, CRED, France;2. GERAD, HEC Montréal, Canada
Abstract:We consider a pricing and advertising dynamic-optimization problem where the goodwill dynamics evolve à la Nerlove–Arrow. The firm maximizes its profit over a finite-planning horizon corresponding to the product’s lifespan, and it turns out that the Hamiltonian is non-concave. We show the existence and uniqueness of an optimal solution under some mild conditions.
Keywords:Advertising  Pricing  Goodwill stock  Nerlove–Arrow dynamics
本文献已被 ScienceDirect 等数据库收录!
设为首页 | 免责声明 | 关于勤云 | 加入收藏

Copyright©北京勤云科技发展有限公司  京ICP备09084417号