Helmes, Kurt L.; Schlosser, Rainer - In: Journal of Economic Dynamics and Control 37 (2013) 12, pp. 2814-2832
In this paper we analyze a stochastic dynamic advertising and pricing model with isoelastic demand. The state space is discrete, time is continuous and the planing horizon is allowed to be finite or infinite. A dynamic version of the Dorfman–Steiner identity will be derived. Explicit...