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Titolo:
MONOPOLIST OPTIMUM PRICING AND ADVERTISING POLICIES FOR DIFFUSION-MODELS OF NEW PRODUCT INNOVATIONS
Autore:
MESAK HI; CLARK JW;
Indirizzi:
LOUISIANA TECH UNIV,COLL ADM & BUSINESS RUSTON LA 71272 NE OKLAHOMA STATE UNIV,COLL BUSINESS & IND TAHLEQUAH OK 74464
Titolo Testata:
Optimal control applications & methods
fascicolo: 2, volume: 19, anno: 1998,
pagine: 111 - 136
SICI:
0143-2087(1998)19:2<111:MOPAAP>2.0.ZU;2-V
Fonte:
ISI
Lingua:
ENG
Soggetto:
WORD-OF-MOUTH; TECHNOLOGICAL INNOVATIONS; EXPERIENCE CURVES; META-ANALYSIS; DEMAND; STRATEGIES; COMPETITION; PURCHASES; DURABLES; DYNAMICS;
Keywords:
PONTRYAGINS MAXIMUM PRINCIPLE; OPTIMAL PRICE; OPTIMAL ADVERTISING; DIFFUSION MODELS OF INNOVATION; NONLINEAR LEAST SQUARES;
Tipo documento:
Article
Natura:
Periodico
Settore Disciplinare:
CompuMath Citation Index
CompuMath Citation Index
Science Citation Index Expanded
Science Citation Index Expanded
Science Citation Index Expanded
Citazioni:
85
Recensione:
Indirizzi per estratti:
Citazione:
H.I. Mesak e J.W. Clark, "MONOPOLIST OPTIMUM PRICING AND ADVERTISING POLICIES FOR DIFFUSION-MODELS OF NEW PRODUCT INNOVATIONS", Optimal control applications & methods, 19(2), 1998, pp. 111-136

Abstract

On the theoretical side, this paper contains a general diffusion model of innovation that includes previous models in the literature as special cases. Optimal price and advertising are characterized qualitatively for the general model and several specific cases. Cost learning effects and discounting of future profits are considered, but repeat sales and likely entry of competitors are disregarded. On the empirical side, eighteen alternative diffusion models for a newly introduced innovation have been estimated and compared using non-linear procedures. Empirical research findings suggest that for the considered case study,price affects the coefficient of imitation whereas advertising affects the coefficient of innovation. Price (advertising) elasticity of demand is found to be increasing (decreasing) over time.

ASDD Area Sistemi Dipartimentali e Documentali, Università di Bologna, Catalogo delle riviste ed altri periodici
Documento generato il 05/12/20 alle ore 08:14:23