Donald S. Tull, Van R. Wood, Dale Duhan, Tom Gillpatrick, Kim R. Robertson, James G. Helgeson, "Leveraged" Decision Making in Advertising: The Flat Maximum Principle and Its Implications, Journal of Marketing Research, Vol. 23, No. 1 (Feb., 1986), pp. 25-32
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Tull et al. (1986) studied this question.