Companies spend millions of dollars on advertising to boost a brand's image and simultaneously spend millions of dollars on promotion that many believe calls attention to price and erodes brand equity. We believe this paradoxical situation exists because both advertising and promotion are...

The paper presents an algorithm that solves two-point boundary-value problems that arise in economic control models in continuous time with an infinite time horizon and several state variables. The algorithm can determine optimal trajectories that converge to an isolated equilibrium point. It...