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

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1982
Authors
Lee, Kun
Schraufnagel, Stanley
Heady, Earl
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Center for Agricultural and Rural Development
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.

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Fri Jan 01 00:00:00 UTC 1982
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