The Dorfman–Steiner theorem (or Dorfman–Steiner condition... - dofaq.co
dorfman–steiner theorem

The Dorfman–Steiner theorem (or Dorfman–Steiner condition...

wikipedia - 30 Aug 2015
The Dorfman–Steiner theorem (or Dorfman–Steiner condition) is a neoclassical economics theorem which looks for the optimal level of advertising that a firm should undertake. The theorem is named after Robert Dorfman and Peter O. Steiner who developed the approach in their widely cited 1954 article in the American Economic Review. Firms can increase their sales by either decreasing the price of the good or persuading consumers to buy more by increasing advertising expenditure. The optimal level

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