Optimal advertising and pricing for a three‐stage time‐lagged monopolistic diffusion model incorporating income

Kamel Jedidi, Jehoshua Eliashberg, Wayne S. Desarbo

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Abstract

A three‐stage time‐lagged diffusion model that incorporates consumers' income, advertising and price effects is proposed. The derivation of the model synthesizes and relies upon a number of important arguments made in the diffusion and economic literature. Optimal control theory is used to derive normative advertising and pricing strategic implications for a monopolist introducing a new durable product.

Original languageEnglish (US)
Pages (from-to)313-331
Number of pages19
JournalOptimal Control Applications and Methods
Volume10
Issue number4
DOIs
StatePublished - Jan 1 1989

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All Science Journal Classification (ASJC) codes

  • Control and Systems Engineering
  • Software
  • Control and Optimization
  • Applied Mathematics

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