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Optimal Advertising and Pricing in a New-Product Adoption Model |
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| Authors: | S P Sethi A Prasad X He |
| Institution: | (1) School of Management, University of Texas at Dallas, Richardson, TX, USA;(2) Belk College of Business, University of North Carolina at Charlotte, Charlotte, NC, USA |
| Abstract: | A model of new-product adoption is proposed that incorporates price and advertising effects. An optimal control problem that uses the model as its dynamics is solved explicitly to obtain the optimal price and advertising effort over time. The model has a great potential to be used in obtaining solutions and insights in a variety of differential game settings. The authors thank Anshuman Chutani for help with the figures. |
| Keywords: | Durable goods sales Advertising Pricing Optimal control Dynamic programming |
| 本文献已被 SpringerLink 等数据库收录！ | |