Journal article
A problem in jointly optimal production and advertising decisions
Abstract
In this paper, a production control model proposed by Holt, Modigliani, Muth and Simon and a marketing model suggested by Nerlove and Arrow, are combined to produce an optimal control problem with two state variables, two control variables and inequality constraints on these variables. The optimal production rate and advertising expenditures over time are determined using the maximum principle. Due to the complex nature of the necessary …
Authors
PARLAR M
Journal
International Journal of Systems Science, Vol. 17, No. 9, pp. 1373–1380
Publisher
Taylor & Francis
Publication Date
September 1986
DOI
10.1080/00207728608926893
ISSN
0020-7721