Closed-loop (perfect) equilibria in a Lanchester duopoly differential game of advertising competition are used as the …-Cola, a formal statistical testing procedure is used to detect whether closed-loop equilibrium advertising strategies are used … general model is estimated. Results indicate that closed-loop equilibria better explain dynamic advertising competition than …

in a single framework the econometric estimation of the market response function and the technique of differential games …The equilibrium profit-maximizing advertising policies of firms operating in a dynamic duopoly are derived by linking … that capture the competitive shifts due to investments in advertising by the two market rivals. We determine the …

Using the Lanchester model to describe the dynamics of the market where two firms compete for customers by advertising …, we solve the problem of determining an optimal advertising strategy for maximum discounted profits. We develop both open … a backward differential equation and a set of two nonlinear differential equations for an initial value problem. The …

advertising and examine how campaign budgets affect advertising strategies in the context of a political campaign. Our key finding … is that tight campaign limits stimulate aggressive advertising on the part of competing parties, while generous budgets …

>This paper was accepted by J. Miguel Villas-Boas, marketing.</i> …

. <i>This paper was accepted by J. Miguel Villas-Boas, marketing.</i> …

marketing researchers of assessing rather than assuming the rationality of firm behavior. …