Optimal Stochastic Advertising Strategies for the U.S. Beef Industry

Kun Lee, Stanley Schraufnagel and Earl Heady

Midwest Agribusiness Trade Research and Information Center (MATRIC) Publications (archive only) from Center for Agricultural and Rural Development (CARD) at Iowa State University

Abstract: An important decision variable in the promotional strategy for the beef sector is the optimal level of advertising expenditures over time. Optimal stochastic and deterministic advertising expenditures are derived for the U.S. beef industry for the period `1966 through 1980. They are compared with historical levels and gains realized by optimal advertising strategies are measured. Finally, the optimal advertising expenditures in the future are forecasted.

Date: 1982-01
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Persistent link: https://EconPapers.repec.org/RePEc:ias:mpaper:82-wp13

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