Maximum principles applied to a model of consumer brand choice
作者:
Josa A. Soeiro Ferreira,
期刊:
Optimal Control Applications and Methods
(WILEY Available online 1990)
卷期:
Volume 11,
issue 1
页码: 21-37
ISSN:0143-2087
年代: 1990
DOI:10.1002/oca.4660110103
出版商: Wiley Subscription Services, Inc., A Wiley Company
关键词: Consumer choice behaviour;Optimal control;Markov chain;Maximum principle;Generalized maximum principle
数据来源: WILEY
摘要:
AbstractThis paper presents an application of the maximum principle and the generalized maximum principle (a recent extension of that principle) to a discrete‐time model of consumer choice behaviour. The model includes two brands in a market and uses a non‐stationary first‐order Markov chain. The optimization is carried out by algorithms based on the above mentioned principles. These algorithms are described, and their performances are discussed and compared both with and without fulfilment of the directional convexity pro
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