Optimal Advertising Signals in the Florida Citrus Industry: A Research Application

Eithan Hochman, Uri Regev, Ronald W. Ward

Research output: Contribution to journalArticlepeer-review

12 Scopus citations

Abstract

A sales response to advertising for the Florida citrus industry is estimated and used to explore optimal levels of advertising. Results of an optimal control model show the gains that can be realized through inter- and intraseasonal changes in the level of advertising expenditures. These gains are generated by using imputed prices that take into account future gains of current advertising. An optimal path of adjustment in both advertising and sales over time is obtained which provides signals for an effective advertising policy.

Original languageEnglish
Pages (from-to)697-705
Number of pages9
JournalAmerican Journal of Agricultural Economics
Volume56
Issue number4
DOIs
StatePublished - 1 Jan 1974
Externally publishedYes

Keywords

  • Advertising
  • Florida citrus industry
  • Optimal control
  • Sales response

ASJC Scopus subject areas

  • Agricultural and Biological Sciences (miscellaneous)
  • Economics and Econometrics

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