Dynamics and Optimization of a Distributed Sales-Advertising Model
Journal of Optimization Theory and Applications, Vol. 52, No. 3, pp. 443-461, March 1987
20 Pages Posted: 5 Apr 2008 Last revised: 11 May 2017
Date Written: 1987
Abstract
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 population migration are included. Under fairly general conditions, it is shown that such model are well posed and that there exists an optimal control.
Keywords: sales-advertising models, population dynamics, optimal control, distributed parameter systems, diffusion models
JEL Classification: M3, M31, M37, C61
Suggested Citation: Suggested Citation