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Advertising Budget And Sales Paths Under The Dynamics Of The Student Work Control Problem And Regularity Requirements, Aharon Hibshoosh
Advertising Budget And Sales Paths Under The Dynamics Of The Student Work Control Problem And Regularity Requirements, Aharon Hibshoosh
Aharon Hibshoosh
Consider a firm promoting a product in a fast expanding industry by using advertising as its single promotional tool. The firm's objective is to minimize the overall cost of advertising necessary for reaching certain target sales of the product by the end of a given planning period. We adopt the Student Work Control problem (SWC) framework for modeling this marketing context, in general, and the advertising-sales response function, in particular. We compare the SWC's optimal control budgeting principle with the solutions of equally effective, alternative advertising budgeting principles, which require strong regularity conditions on the path of either the advertising …
Interdependent Consumer Choice And The Oval Of Cassini, Aharon Hibshoosh
Interdependent Consumer Choice And The Oval Of Cassini, Aharon Hibshoosh
Aharon Hibshoosh
This paper follows a theory of Nicosia and Hibshoosh regarding the choice by social consumer unit who is facing conflicting institutional norms. The paper presents a duo-centric consumer residential choice model with special disutility function. The properties of the Oval of Cassini play a key role in the parstmonious modeling of this phenomenon and in the analysis. Specifically, we develop a residential consumer choice model where the consumer utility is affected by conflicted demands for activities of work and non-work institutions. The consumer unit is simultaneously attracted to two predetermined centers of work and non-work, while making its residence choice. …