We incorporate the effects of churn, which refers to customers switching to competing brands, in a dynamic model of advertising for oligopoly markets. Each firm's market share depends not only on own and competitors' advertising decisions, but also on market churn. Applying differential game...

This paper proposes a new index to extract forward-looking information from security prices and infer market participants' expectations of future earnings. The index, called market-adapted earnings (MAE), utilizes stock returns and fundamental accounting signals to estimate market expectations...

How should forward-looking managers plan advertising if they envision a product-harm crisis in the future? To address this question, we propose a dynamic model of brand advertising in which, at each instant, a nonzero probability exists for the occurrence of a crisis event that damages the...