This paper studies the impact and effectiveness of a type of non-price promotion often used in the European periodical magazines industry to stimulate sales, in which a value pack is sold containing the magazine issue plus another product. Magazines are sold simultaneously with and without...

The planning of promotions and other marketing events frequently requires manufacturers to make decisions about the optimal duration of these activities. Yet manufacturers often lack the support tools for decision making. We assume that customer decisions at the aggregated level follow a...

This paper proposes a worst-case approach for estimating econometric models containing unobservable variables. Worst-case estimators are robust against the adverse effects of unobservables. In contrast to the classical literature, there are no assumptions about the statistical nature of the...

This article studies the valuation of boundary-linked assets and their derivatives in continuous-time markets. Valuing boundary-linked assets requires the solution of a stochastic differential equation with boundary conditions, which, often, is not Markovian. We propose a wavelet-collocation...

This paper presents an algorithm for approximating the solution of deterministic/stochastic continuous-time growth models based on the Euler's equation and the transversality conditions. The main issue for computing these models is to deal efficiently with the boundary conditions associated....

This paper presents sufficient conditions for pointwise universal consistency of nonparametric delta estimators. We show the applicability of these conditions for some classes of nonparametric estimators.

Marketing resource allocation is increasingly based on the optimization of expected returns on investment. If the investment is implemented in a large number of repetitive and relatively independent simple decisions, it is an acceptable method, but risk must be considered otherwise. The...

We study the problem of a firm that faces asymmetric information about the productivity of its potential workers. In our framework, a worker’s productivity is either assigned by nature at birth, or determined by an unobservable initial action of the worker that has persistent effects over...

In this paper several definitions of probabilistic causation are considered, and their main drawbacks discussed. Current notions of probabilistic causality have symmetry limitations (e.g. correlation and statistical dependence are symmetric notions). To avoid the symmetry problem, non-reciprocal...

The mainstream of marketing time series analysis has shifted from classical short-range dependence (ARMA, transfer functions and VAR models). However, in cases where purchase decisions entail some commitment (e.g., a subscription selling periodic use of a product or service), sales response...