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Profit maximization through advertising: A nonzero sum differential game approach

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2 Author(s)
Leitmann, G. ; University of California, Berkeley, CA, USA ; Schmitendorf, W.E.

This paper deals with the problem of the competition between two firms who sell substitutable products. Each firm wants to maximize its own profits. A firm's share of the market is influenced by its advertising and the advertising of its competitor. The problem is modeled as a nonzero sum differential game. Various solution concepts are applied and the corresponding "optimal" advertising rates obtained.

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Automatic Control, IEEE Transactions on  (Volume:23 ,  Issue: 4 )