You are here

Dissertations

On stochastic modelling and optimal control in advertising

Carlo Marinelli, 2004
Faculty Advisor: Victor de la Pena
Print this abtract

Abstract

We study modelling issues and optimal control problems, mainly in the stochastic setting, related to advertising for new product introduction. We consider some stochastic extensions of a classical model of M. Nerlove and K. Arrow, on which we formulate and solve the mixed problem of maximizing product image (goodwill) at a given time and minimizing cumulative advertising costs, and the related problem of reaching a target level of awareness of the advertised product by a given deadline. We also allow, in some cases, budget constraints, partial observation, and discretionary launching. Then we propose new deterministic models of goodwill evolution with a spatial component, and corresponding space-time versions of the above control problems. Finally, we address optimization problems on a class of stochastic models with lags both in the state and in the control. The mathematical tools used are mainly drawn from the dynamic programming approach to optimal control, leading to the study of Hamilton-Jacobi-Bellman equations, both in finite and infinite dimensions.

Doctoral Program News

Wong wins Deloitte Fellowship

We are proud to announce that Yu Ting (Forester) Wong is one of the recipients of the 2014 Deloitte Foundation Doctoral Fellowship in Accounting.

Read More About Yu Ting >

The PhD Program Congratulates John Yao

PhD student John Yao was a finalist in the 2013 M&SOM (Manufacturing & Service Operations Management) student paper competition.

Read More About John >

Apply Now
Sept 2014

Doctoral
Deadline: 01/05/14

MS Marketing
Deadline: 02/02/14

MS Financial Economics
Deadline: 02/02/14

MS Leadership
Rolling admission

Check Application Status

Once you've submitted your application, you can login and track your status by using the link below.

Check Status