- #1
Gerenuk
- 1,034
- 5
Hi!
I'd like to understand how to model consumer demand given a price I set for a good. Therefore for a specific good I'm given the current prices of competitors and maybe some historical values for number of goods sold by competitors and me at a specific price at previous times. I would like to understand what will happen to the amount sold if I increase or decrease my current price.
My background is fairly mathematical and I hope someone can point me to a reference where I can read up an approach?!
Ideally it should be intended for a mathematical audience, therefore not too wordy but detailed instead. What is this topic called if I want to research more information?
I'd like to understand how to model consumer demand given a price I set for a good. Therefore for a specific good I'm given the current prices of competitors and maybe some historical values for number of goods sold by competitors and me at a specific price at previous times. I would like to understand what will happen to the amount sold if I increase or decrease my current price.
My background is fairly mathematical and I hope someone can point me to a reference where I can read up an approach?!
Ideally it should be intended for a mathematical audience, therefore not too wordy but detailed instead. What is this topic called if I want to research more information?