Firms using online advertising regularly run experiments with multiple versions of their ads since they are uncertain about which ones are most effective. Within a campaign, firms try to adapt to intermediate results of their tests, optimizing what they earn while learning about their ads. But...

Two widely recognized components, central to the calculation of customer value, are acquisition and retention propensities. However, while extant research has incorporated such components into different types of models, limited work has investigated the kinds of associations that may exist...