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| Author: | Magat, W. A. McCann, J. M. Morey, R. C. |
| Title: | When does structure really matter in optimizing advertising expenditures? |
| Journal: | Management Science
1986 : FEB, VOL. 32:2, p. 182-193 |
| Index terms: | ADVERTISING EXPENDITURE |
| Language: | eng |
| Abstract: | The conditions under which a firm's profits are most likely to be sensitive to the misspecification ot the lag structure are examined. The analysis indicates how this sensitivity is related to the form of the true lag structure, the demand function, the cost function and the firm's discount rate. It is suggested that different lag structures do result in differences in optimal level of advertising expenditures, but profits in steady state are relatively insensitive to these differences in expenditures. Two special cases are discussed and on the basis of the findings future research is suggested. |
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