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On the optimal control of the Vidale‐Wolfe advertising model
Author(s) -
Edie Richard D.
Publication year - 1997
Publication title -
optimal control applications and methods
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.458
H-Index - 44
eISSN - 1099-1514
pISSN - 0143-2087
DOI - 10.1002/(sici)1099-1514(199701/02)18:1<59::aid-oca585>3.0.co;2-g
Subject(s) - optimal control , control (management) , hamilton–jacobi–bellman equation , mathematical optimization , mathematics , hamilton–jacobi equation , control theory (sociology) , computer science , mathematical economics , artificial intelligence
The Vidale‐Wolfe advertising model is a singular optimal control problem with a non negative control. Sufficient conditions on a generalized time‐varying market, for which a solution can be found, are given. Time is parametrized to describe impulsive optimal trajectories in a conventional manner. The solution is then found and verified by using the Hamilton‐Jacobi‐Bellman equation on the parametrized problem. © 1997 John Wiley & Sons, Ltd.