Boundary value problems in stochastic optimal control of advertising

Kalyan Raman

doi:10.1016/j.automatica.2006.04.016

Boundary value problems in stochastic optimal control of advertising

Kalyan Raman^*

^*Corresponding author for this work

Integrated Marketing Communications

Research output: Contribution to journal › Article › peer-review

22 Scopus citations

Abstract

Temporal patterns for advertising include constant spending over time, decreasing spending over time and increasing spending over time. This research shows that all these spending patterns emerge at optimality for the same response function dynamics, due to differences in salvage value assumptions. I use these results to develop a methodology for determining the optimal planning horizon length for each pattern of spending.

Original language	English (US)
Pages (from-to)	1357-1362
Number of pages	6
Journal	Automatica
Volume	42
Issue number	8
DOIs	https://doi.org/10.1016/j.automatica.2006.04.016
State	Published - Aug 1 2006

Keywords

Advertising
Boundary value
Hamilton-Jacobi-Bellman
Nerlove-Arrow
Stochastic optimal control

ASJC Scopus subject areas

Control and Systems Engineering
Electrical and Electronic Engineering

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10.1016/j.automatica.2006.04.016

Cite this

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abstract = "Temporal patterns for advertising include constant spending over time, decreasing spending over time and increasing spending over time. This research shows that all these spending patterns emerge at optimality for the same response function dynamics, due to differences in salvage value assumptions. I use these results to develop a methodology for determining the optimal planning horizon length for each pattern of spending.",

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AB - Temporal patterns for advertising include constant spending over time, decreasing spending over time and increasing spending over time. This research shows that all these spending patterns emerge at optimality for the same response function dynamics, due to differences in salvage value assumptions. I use these results to develop a methodology for determining the optimal planning horizon length for each pattern of spending.

KW - Advertising

KW - Boundary value

KW - Hamilton-Jacobi-Bellman

KW - Nerlove-Arrow

KW - Stochastic optimal control

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Boundary value problems in stochastic optimal control of advertising

Abstract

Keywords

ASJC Scopus subject areas

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