Dynamic Models of Advertising Competition

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The dynamic modelling and analysis of advertising competition continues to be a topic of importance to scholars and practitioners. The second edition of this text reviews empirical and analytical research on the topic and extends the research through analytical and numerical investigation. Three types of model frameworks - Lanchester, Vidale-Wolfe, and diffusion - are combined with two different approaches to developing competitive advertising strategies - perfect equilibria and dynamic conjectural variations - in the analysis of duopoly and triopoly competition. Advertising strategies developed with the different approaches are compared and contrasted to open-loop strategies.