Abstract
We consider the problem of a firm which seeks the maximum discounted profit from theoffer of a seasonal product on the market. Production and sale of the product take place intwo disjoint and consecutive subintervals of each seasonality period, which is repeatedinfinitely (or finitely) many times. On the other hand, the firm can advertise the product atevery time of each seasonality period. The multiperiod problem is formulated as a discretetime dynamic programming problem.
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References
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Favaretto, D., Viscolani, B. A multiperiod production and advertising problemfor a seasonal product. Annals of Operations Research 88, 31–45 (1999). https://doi.org/10.1023/A:1018946800745
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DOI: https://doi.org/10.1023/A:1018946800745