Optimal pricing of successive generations of product advances

@inproceedings{Padmanabhan2011OptimalPO,
  title={Optimal pricing of successive generations of product advances},
  author={Venkat N. Padmanabhan and Frank M. Bass},
  year={2011}
}
We obtain the optimal pricing policy of a monopolist marketing successive generations of product advances. We characterize the impact of foresight regarding entry of the second generation product and the technological substitution and market expansion created by the introduction of the second generation product on the optimal pricing policy of the monopolist. We also obtain the optimal pricing policies of the producers in situations where the successive generations of product advances are… CONTINUE READING
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