We specify and analyze the conditions under which the MNL market share models are appropriate for equilibrium analysis. Our results show that a linear price response function as is often used in empirical research, in conjunction with the typical concavity assumed in a large range of marketing...

This paper examines implications for the firm's advertising decisions under conditions of random sales response to advertising within the context of multibrand competition. The competitive environment assumed is characterized not only by interactions among different companies within a given...

Within the context of a simple dynamic general equilibrium framework, the model proposed in this paper formally characterizes the path in which a successful transformation in agriculture as a result of an improvement in agricultural technology can conceivably help some developing countries raise...

This paper analyzes competing firms' advertising strategies in markets characterized by dynamic market sizes. For new product innovations, a large literature has been developed on the basis of the celebrated Bass diffusion process, which captures what we call market-size dynamics. However, in...