Espinosa, María Paz; Mariel, Petr - In: Politická ekonomie 1997 (1997) 2, pp. 239-254
In this paper we study the problem of optimal advertising expenditure in a dynamic duopoly. Non-price competition represents a crucial aspect of interfirm rivalry, and in some markets advertising may be considered as one of the most important competitive tools. An important feature of our model...