Numerical Solutions to Some Optimal Control Problems Arising from Innovation Diffusion
AbstractIn this paper we propose a numerical approach for the solution of some optimalcontrol problems arising in the field of marketing decision models. Inparticular, we account for a specific innovation diffusion model. A numericalapproach may be useful to investigate some features of state variables andparameters of interest. The discrete problem is solved by the SimulatedAnnealing method and the resulting numerical scheme is applied to some testcases. Copyright Kluwer Academic Publishers 2003
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Bibliographic InfoArticle provided by Society for Computational Economics in its journal Computational Economics.
Volume (Year): 22 (2003)
Issue (Month): 2 (October)
innovation diffusion; marketing models; optimal control problem; numerical approximation; Simulated Annealing;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Vijay Mahajan & Robert A. Peterson, 1978. "Innovation Diffusion in a Dynamic Potential Adopter Population," Management Science, INFORMS, vol. 24(15), pages 1589-1597, November.
- Goffe, William L. & Ferrier, Gary D. & Rogers, John, 1994. "Global optimization of statistical functions with simulated annealing," Journal of Econometrics, Elsevier, vol. 60(1-2), pages 65-99.
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