Six Essays on Stochastic and Deterministic Dynamic Pricing and Advertising Models

  • Published 2014
In this paper we analyze a stochastic dynamic advertising and pricing model with isoelastic demand. The state space is discrete, time is continuous and the planning horizon is allowed to be finite or infinite. A dynamic version of the Dorfman-Steiner identity will be derived. Explicit expressions of the optimal advertising and pricing policies, of the value… CONTINUE READING