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

Kamel Jedidi; Jehoshua Eliashberg; Wayne S. Desarbo

doi:10.1002/oca.4660100403

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 language	English (US)
Pages (from-to)	313-331
Number of pages	19
Journal	Optimal Control Applications and Methods
Volume	10
Issue number	4
DOIs	https://doi.org/10.1002/oca.4660100403
State	Published - 1989

All Science Journal Classification (ASJC) codes

Control and Systems Engineering
Software
Control and Optimization
Applied Mathematics

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10.1002/oca.4660100403

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

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.",

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AB - 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.

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

Abstract

All Science Journal Classification (ASJC) codes

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