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Optimal advertising in growing‐stabilizing markets
Author(s) -
Dorroh J. R.,
Ferreyra Guillermo
Publication year - 1993
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/oca.4660140308
Subject(s) - parametrization (atmospheric modeling) , constant (computer programming) , dynamic programming , product (mathematics) , optimal control , value (mathematics) , control (management) , mathematical optimization , computer science , mathematics , artificial intelligence , physics , geometry , quantum mechanics , programming language , radiative transfer , machine learning
Abstract The method of dynamic programming is used to determine the optimal synthesis of an advertising problem. The market of the product in question grows exponentially up to a time when it stabilizes at a constant value. The problem is singular and with an unbounded control. A parametrization of time is introduced to deal with these difficulties.