RISK BEHAVIOUR AND OPTIMUM ADVERTISING WITH A STOCHASTIC DYNAMIC SALES RESPONSE.

Charles Tapiero, Jehoshua Eliashberg, Yoram Wind

Research output: Contribution to journalArticle

Abstract

A stochastic (diffusion) sales response model to advertising is postulated. Optimum advertising policies are then found by solving a stochastic control problem with reflecting boundaries. Analytical results are obtained and interpreted to yield insights regarding a firm's risk behavior and its optimal advertising policy.

Original languageEnglish (US)
Pages (from-to)299-304
Number of pages6
JournalOptimal Control Applications and Methods
Volume8
Issue number3
StatePublished - Jul 1987

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Stochastic Dynamics
Marketing
Sales
Stochastic Control
Control Problem
Advertising
Stochastic dynamics
Policy
Model
Firm risk
Optimal advertising
Stochastic control

ASJC Scopus subject areas

  • Management Science and Operations Research
  • Control and Systems Engineering
  • Applied Mathematics
  • Control and Optimization

Cite this

RISK BEHAVIOUR AND OPTIMUM ADVERTISING WITH A STOCHASTIC DYNAMIC SALES RESPONSE. / Tapiero, Charles; Eliashberg, Jehoshua; Wind, Yoram.

In: Optimal Control Applications and Methods, Vol. 8, No. 3, 07.1987, p. 299-304.

Research output: Contribution to journalArticle

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