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Optimal advertising with a continuum of goods

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  • E. Barucci
  • F. Gozzi

Abstract

In this paper, we present a model of optimal advertising with a continuum of goodsdifferentiated by their vintage. The model is an infinite horizon/infinite dimensional optimalcontrol model and the firm advertises a continuum of goods. We prove that the goodwill ofa good accumulated through advertising does not necessarily reach its maximum when it islaunched onto the market: it can be a single peaked function of the good vintage. Copyright Kluwer Academic Publishers 1999

Suggested Citation

  • E. Barucci & F. Gozzi, 1999. "Optimal advertising with a continuum of goods," Annals of Operations Research, Springer, vol. 88(0), pages 15-29, January.
    • Handle: RePEc:spr:annopr:v:88:y:1999:i:0:p:15-29:10.1023/a:1018922128062
    DOI: 10.1023/A:1018922128062
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    Cited by:

    1. Boucekkine, R. & Fabbri, G. & Federico, S. & Gozzi, F., 2018. "Geographic environmental Kuznets curves: The optimal growth linear-quadratic case," Working Papers 2018-10, Grenoble Applied Economics Laboratory (GAEL).
    2. Fabbri, Giorgio & Faggian, Silvia & Freni, Giuseppe, 2015. "On the Mitra–Wan forest management problem in continuous time," Journal of Economic Theory, Elsevier, vol. 157(C), pages 1001-1040.
    3. Fabbri, Giorgio & Gozzi, Fausto, 2006. "Vintage Capital in the AK growth model: a Dynamic Programming approach. Extended version," MPRA Paper 7334, University Library of Munich, Germany.
    4. Mariusz Górajski & Dominika Machowska, 2017. "Optimal double control problem for a PDE model of goodwill dynamics," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 85(3), pages 425-452, June.
    5. Silvia Faggian & Luca Grosset, 2009. "Optimal investment in age-structured goodwill," Working Papers 194, Department of Applied Mathematics, Università Ca' Foscari Venezia.
    6. Konstantin Kogan & Avi Herbon & Beatrice Venturi, 2020. "Direct marketing of an event under hazards of customer saturation and forgetting," Annals of Operations Research, Springer, vol. 295(1), pages 207-227, December.
    7. Silvia Faggian & Luca Grosset, 2013. "Optimal advertising strategies with age-structured goodwill," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 78(2), pages 259-284, October.
    8. Dominika Bogusz & Mariusz Gorajski, 2014. "Optimal Goodwill Model with Consumer Recommendations and Market Segmentation," Lodz Economics Working Papers 1/2014, University of Lodz, Faculty of Economics and Sociology, revised Oct 2014.
    9. Fabbri, Giorgio & Faggian, Silvia & Gozzi, Fausto, 2006. "On the Dynamic Programming approach to economic models governed by DDE's," MPRA Paper 2825, University Library of Munich, Germany.
    10. Arda Yenipazarli, 2015. "A road map to new product success: warranty, advertisement and price," Annals of Operations Research, Springer, vol. 226(1), pages 669-694, March.

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