Ashwin Aravindakshan

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PROOF OF PROPOSITION 1 (CONSTANT PARAMETERS) To derive optimal budget and allocation, we solve the HJB equation (6) (A-1) Differentiating the right hand side of (A-1) with respect to R i , we get the first-order conditions (FOCs) for each region i: 1 1 () 0 2 i i i V R       , (A-2) which upon rearrangement yields the implicit optimal ad expenditures(More)
Extant models posit that awareness declines immediately and gradually after the cessation of advertising, whereas anecdotal evidence from managers suggests awareness stays constant for a while and then decays rapidly. This pattern arises because consumers remember advertisements for a finite time before they forget. Hence, we extend advertising models by(More)
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