Irreversibility in Advertising‐Demand Response Functions: An Application to Milk
提出一种估计不可逆函数的新方法，可区分短期不可逆与长期可逆。以纽约市液态奶广告为例，发现消费者对广告增加的反应快于减少，这对最优广告时间策略有启示。
Abstract A generalized methodology for estimating irreversible functions is developed. This approach, which accommodates short‐term irreversibility and long‐term reversibility, is an improvement over previous irreversibility studies that imposed both short‐ and long‐term irreversibility. Using the proposed methodology, irreversibility in the demand response to fluid milk advertising in New York City is evaluated. Irreversibility is found to exist, and, in particular, consumers are found to react more rapidly to increases in advertising compared to decreases. This result may have important implications for optimal temporal advertising strategies.