This paper considers a variation of the Vidale-Wolfe advertising model for which the maximum value of the objective function and the form of the optimal feedback advertising control are identical in both a deterministic and a stochastic environment. The stochastic environment is due to a white...

A general sates-advertising model is developed in which the state of the system represents a population distribution over a parameter space. With appropriate interpretations, this can include income, family size, geographic distributions, etc. Effects of information diffusion, interaction, and...

The methodological discussion on the calibration of aggregate marketing response models has shifted away from how to obtain usable input for optimization to how to avoid biases in statistical estimation. The goal of this article is to remind researchers that such calibration is performed either...

Markets for natural resources and commodities are often oligopolistic. In these markets, production capacities are key for strategic interaction between the oligopolists. We analyze how different market structures influence oligopolistic capacity investments and thereby affect supply, prices and...

Mathematical programming (MP) is a widespread approach to depict production and investment decisions of agents in agent-based models (ABM) related to agriculture. However, introducing dynamics and indivisibilities in MP models renders their solution computing time intensive. We present a...

Exporting countries are concerned that sanitary standards might shield domestic industry from foreign competition. This study analyzes economic effects of changes in Western Hemisphere sanitary requirements on broiler trade in the Americas. A mathematical programming model detects that if Brazil...

To mitigate the high variability of wind and make it a more viable renewable energy source, observers recommend greater integration of spatially-separated electrical grids, with high transmission lines linking load centers, scattered wind farms and hydro storage sites. In this study, we examine...

This paper highlights connections between the discrete and continuous approaches to optimal auction design with single and multi-dimensional types. We provide an interpretaion of an optimal auction design problem in terms of a linear program that is an instance of a parametric shortest path...

The utopia point of a multicriteria optimization problem is the vector that specifies for each criterion the most favourable among the feasible values. The Euclidean compromise solution in multicriteria optimization is a solution concept that assigns to a feasible set the alternative with...