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Numerical solution of a conspicuous consumption model with constant control delay()
We derive optimal pricing strategies for conspicuous consumption products in periods of recession. To that end, we formulate and investigate a two-stage economic optimal control problem that takes uncertainty of the recession period length and delay effects of the pricing strategy into account. This...
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| Main Authors: | , , , , , |
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| Format: | Artigo |
| Sprog: | Inglês |
| Udgivet: |
Pergamon Press
2011
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| Fag: | |
| Online adgang: | https://ncbi.nlm.nih.gov/pmc/articles/PMC3256742/ https://ncbi.nlm.nih.gov/pubmed/22267871 https://ncbi.nlm.nih.govhttp://dx.doi.org/10.1016/j.automatica.2011.06.004 |
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