Expectation-Maximization (EM) algorithm can be employed to obtain the MLEs of the demand parameters by treating the stock … the consumer choice model to accomplish the estimation. Our results indicate that demand rates estimated naively by using … implication of this consumer behavior is that observed sales of an item no longer provide a good measure of its core demand rate …

ticket purchase timing of passenger railway. The choice model and demand functions are incorporated into a revenue … term of fare and capacity distribution derived from actual passenger behavior. It shows that accepting short-haul demand … provides greater revenue than long-haul demand using the same capacity. Revenue improvement ranges from 16.24% to 24.96% in …

it crucial to estimate accurately the market demand stimulation available at reduced price points. Traffic apparently …

it crucial to estimate accurately the market demand stimulation available at reduced price points. Traffic apparently …

uncertainty or consumers heterogeneity. But this technique also raises econometric problems in the estimation of demand models …Yield management has become a standard tool in several industries to increase the profits of firms facing demand … macro data only and ignoring these issues leads to an aggregation bias. We develop a structural model of demand in the …

The logit model is the most popular tool for estimating demand in differentiated products markets. However, in its …