An attempt is made to construct the advertising expenditure decision model in the framework of dual control where the optimal experimentation and control are simultaneously determined. The performance of three schemes are compared in terms of the value of the objective function and the amount of learning achieved. This is obtained by simulation. An investigation is made of the optimal dual control policy when two regions are assumed to behave according to the same model but where different advertising budgets may be allocated to them. Numerical results for the dual control problem are presented.
|Number of pages||2|
|State||Published - 1974|
|Event||IEEE Conf on Decis and Control, 1974, incl Symp on Adapt Processes, 13th, Proc, Nov 20-22 1974 - Phoenix, AZ, USA|
Duration: 20 Nov 1974 → 22 Nov 1974
|Conference||IEEE Conf on Decis and Control, 1974, incl Symp on Adapt Processes, 13th, Proc, Nov 20-22 1974|
|City||Phoenix, AZ, USA|
|Period||20/11/74 → 22/11/74|