Optimal Control of a Logarithmic Advertising Model

A logarithmic advertising model is posed and solved for an optimal dynamic advertising policy for both finite and infinite horizon cases by using optimal control theory. In the case of the infinite horizon, the optimal long-run stationary equilibrium rate of advertising is obtained. It is shown that the optimal advertising policy is independent of the initial level of sales for the logarithmic model

Year of publication:	2020
Authors:	Sethi, Suresh
Publisher:	[S.l.] : SSRN
Subject:	Werbung \| Advertising \| Kontrolltheorie \| Control theory \| Werbewirkung \| Advertising effects
Description of contents:	Abstract [papers.ssrn.com]

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