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| Author: | Ouardighi, F. Tapiero, C. |
| Title: | Quality and the diffusion of innovations |
| Journal: | European Journal of Operational Research
1998 : APR 1, VOL. 106:1, p. 31-38 |
| Index terms: | OPERATIONAL RESEARCH QUALITY DIFFUSION INNOVATION |
| Language: | eng |
| Abstract: | In this paper, the authors solve the problem of optimal control of products diffusion by quality in a context of monopolistic competition. To do so, the authors introduce a dynamic demand function leaning on two hypotheses: first, price acts a signal of quality; second, demand is more sensitive to quality than to price. Using the maximum principle of Pontryagin, the authors then characterize the optimal dynamic trajectory of quality and its qualitative properties. |
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