The free endpoint infinite horizon problem (P) based on the Vidale -Wolfe advertising model 1 with a time-varying market is stated as follows: -ฯt d t over all measurable control functions u(t) 0 subject to the constraints The Vidale -Wolfe advertising model describes the problem in economics of m
โฆ LIBER โฆ
Optimal Control of the Vidale-Wolfe Advertising Model
โ Scribed by Suresh P. Sethi
- Book ID
- 120604476
- Publisher
- INFORMS
- Year
- 1973
- Tongue
- English
- Weight
- 475 KB
- Volume
- 21
- Category
- Article
- ISSN
- 0030-364X
- DOI
- 10.2307/169150
No coin nor oath required. For personal study only.
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## Abstract This paper deals with an optimal advertising model with two state variables. The revenue and efficiency functions are concave. The aim is to choose the rate of advertising expenditures over time in a way that maximizes the present value of net profit streams over an infinite horizon sub