Issue |
SHS Web Conf.
Volume 83, 2020
Current Problems of the Corporate Sector 2020
|
|
---|---|---|
Article Number | 01017 | |
Number of page(s) | 8 | |
Section | Economics, Management and Finance | |
DOI | https://doi.org/10.1051/shsconf/20208301017 | |
Published online | 30 October 2020 |
Application of optimal control theory on optimal advertising expenditure in monopoly
1 Department of Business Economics, Faculty of Business Management, University of Economics in Bratislava, Dolnozemská st. 1/b, 825 35 Bratislava, Slovakia (EU)
2 Department of Business Economics, Faculty of Business Management, University of Economics in Bratislava, Dolnozemská st. 1/b, 825 35 Bratislava, Slovakia (EU)
* Corresponding author: nora.grisakova@euba.sk
Presented paper is being focused on Optimal control theory, Variation Calculus and its economic application. Aim of this research paper is to shortly describe Optimal control and Variation Calculus and to present how can we deal with these type of issues. The last part of this paper is presenting possible economic application of Optimal control, based on the maximization of profit in monopoly while introducing new product on the market. Our control variable is the advertising rate, which affects the profit of monopoly through advertising expenditures and as a state variable was the market share defined.
© The Authors, published by EDP Sciences, 2020
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Current usage metrics show cumulative count of Article Views (full-text article views including HTML views, PDF and ePub downloads, according to the available data) and Abstracts Views on Vision4Press platform.
Data correspond to usage on the plateform after 2015. The current usage metrics is available 48-96 hours after online publication and is updated daily on week days.
Initial download of the metrics may take a while.