Technical Note—A Note on the Nerlove-Arrow Model under Uncertainty

Suresh Sethi

Operations Research, 1979, vol. 27, issue 4, 839-842

Abstract: This note examines the stability of an optimal control problem based on a particular stochastic extension of the Nerlove-Arrow advertising model. It is shown that depending on the parameters of the problem and the initial conditions, the optimal solution may converge monotonically or sinusoidally, or not converge at all to the optimal stationary equilibrium.

Date: 1979
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