Optimal control of a diffusion model of new product acceptance with price-dependent total market potential

1983 ◽  
Vol 4 (3) ◽  
pp. 269-276 ◽  
Author(s):  
Steffen Josrgensen
Keyword(s):  
Optimal Control ◽  
Diffusion Model ◽  
New Product ◽  
Market Potential ◽  
Total Market

scholarly journals A Piecewise-Diffusion Model of New-Product Demands

2006 ◽  
Vol 54 (4) ◽  
pp. 678-695 ◽  
Author(s):  
Shun-Chen Niu
Keyword(s):  
Diffusion Model ◽  
New Product

scholarly journals Application of optimal control theory on optimal advertising expenditure in monopoly

2020 ◽  
Vol 83 ◽  
pp. 01017
Author(s):  
Nora Grisáková ◽  
Peter Štetka
Keyword(s):  
Optimal Control ◽  
Control Theory ◽  
Market Share ◽  
Optimal Control Theory ◽  
Control Variable ◽  
New Product ◽  
Advertising Expenditure ◽  
Advertising Rate ◽  
State Variable ◽  
Economic Application

Presented paper is being focused on Optimal control theory, Variation Calculus and its economic application. Aim of this research paper is to shortly describe Optimal control and Variation Calculus and to present how can we deal with these type of issues. The last part of this paper is presenting possible economic application of Optimal control, based on the maximization of profit in monopoly while introducing new product on the market. Our control variable is the advertising rate, which affects the profit of monopoly through advertising expenditures and as a state variable was the market share defined.

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