Working Papers (1995), ESSEC Business School
Achat, réachat et qualité des produits en contexte d'asymétrie d'information
This paper proposes a stochastic model of consumer behavior with repeat purchases. An application of Pontryagin's Maximum principle to the defined model allowed us to calculate the optimal price, advertising investment and the product quality when the product life time has an exponential distribution and the repeat purchase probability is smaller than 0.5.
EL OUARDIGHI, F. and TAPIERO, C. (1995). Achat, réachat et qualité des produits en contexte d'asymétrie d'information. ESSEC Business School.