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Note---A Note on Optimal and Near Optimal Price and Advertising Strategies

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  • Ram C. Rao

    (School of Management, University of Texas at Dallas, Box 688, Richardson, Texas 75080)

Abstract

In this paper "Optimal and Near Optimal Price and Advertising Strategies," Welam (Welam, Ulf P. 1982. Optimal and near optimal prize and advertising strategies. Management Sci. 28 1313--1327.) considers a model which is similar to a model analyzed by Gould (Gould, John P. 1970. Diffusion processes and optimal advertising policy. E. S. Phelps et al., eds. Microeconomic Foundations of Employment and Inflation Theory. W. W. Norton, 338--368.) in his work on optimal advertising policies. The main difference between the two papers is that while Welam's analysis is in discrete time, Gould's is in continuous time. The equivalence of the two analyses is easy to establish and is contained in Rao (Rao, Ram C. 1983. A note on optimal advertising strategies. Working paper, University of Texas, Dallas, January.).

Suggested Citation

  • Ram C. Rao, 1985. "Note---A Note on Optimal and Near Optimal Price and Advertising Strategies," Management Science, INFORMS, vol. 31(3), pages 376-377, March.
    • Handle: RePEc:inm:ormnsc:v:31:y:1985:i:3:p:376-377
    DOI: 10.1287/mnsc.31.3.376
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    Cited by:

    1. Dengpan Liu & Subodha Kumar & Vijay S. Mookerjee, 2012. "Advertising Strategies in Electronic Retailing: A Differential Games Approach," Information Systems Research, INFORMS, vol. 23(3-part-2), pages 903-917, September.

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