We consider the problem of a firm which seeks the maximum discounted profit from the offer of a seasonal product on the market. Production and sale of the product take place in two disjoint and consecutive subintervals of each seasonality period, which is repeated infinitely (or finitely) many times. On the other hand, the firm can advertise the product at every time of each seasonality period. The multiperiod problem is formulated as a discrete time dynamic programming problem.
A multiperiod production and advertising problem for a seasonal product
VISCOLANI, BRUNO
1999
Abstract
We consider the problem of a firm which seeks the maximum discounted profit from the offer of a seasonal product on the market. Production and sale of the product take place in two disjoint and consecutive subintervals of each seasonality period, which is repeated infinitely (or finitely) many times. On the other hand, the firm can advertise the product at every time of each seasonality period. The multiperiod problem is formulated as a discrete time dynamic programming problem.File in questo prodotto:
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