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Survey of models on demand, customer base-line and demand response and their relationships in the power market
Heshmati, Almas - 2012
The increasing use of demand-side management as a tool to reliably meet electricity demand at peak time has stimulated … the growing literature on models used to study demand, consumer baseline (CBL) and demand response in the electricity … market. After characterizing the general demand models, it reviews consumer baseline based on which further study the demand …
Persistent link: https://www.econbiz.de/10009548648
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Consumer Choice Model for Forecasting Demand and Designing Incentives for Solar Technology
Lobel, Ruben; Perakis, Georgia - 2015
In this paper, we develop a model for the adoption of solar photovoltaic technology by residential consumers. In particular, we assume consumers purchase these solar panels according to a discrete choice model. The technology adoption process is reinforced by network externalities such as...
Persistent link: https://www.econbiz.de/10014044135
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Collusion by algorithm : the role of unobserved actions
Martin, Simon; Rasch, Alexander - 2022
We analyze the effects of better algorithmic demand forecasting on collusive profits. We show that the comparative …
Persistent link: https://www.econbiz.de/10012990230
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Collusion by algorithm: the role of unobserved actions
Martin, Simon; Rasch, Alexander - 2022
We analyze the effects of better algorithmic demand forecasting on collusive profits. We show that the comparative …
Persistent link: https://www.econbiz.de/10013093034
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Prediction Algorithms in Matching Platforms
Hamalainen, Saara; Petrikaite, Vaiva - 2023
We provide a general framework to consider the effects of algorithmic demand and supply prediction in matching … are ambiguous. Demand and supply prediction can exacerbate firm competition, leading to an increase in wages and a …
Persistent link: https://www.econbiz.de/10014350609
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Informationally Robust Welfare Predictions Under Second-Degree Price Discrimination
Yang, Kai Hao - 2019
In an environment that features second-degree price discrimination, this paper fully characterizes the set of surplus divisions that can arise from all possible information consumers have about their valuation. By extending the techniques developed in a companion paper (Yang, 2019a), I show that...
Persistent link: https://www.econbiz.de/10012894284
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A Simple, Cross-Disciplinary Economic Approach to Predict Complex Consumer and Firm Behavior
Barzuza, Isaac - 2007
So far, if one wished to analyse economic markets in all their complexity - i.e. by incorporating all information regarding firm and consumer behavior available from the fields of economics, marketing, consumer research, competitive strategy, and business analysis - she had to use formulas with...
Persistent link: https://www.econbiz.de/10014053605
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Forecast heuristics, consumer expectations, and new-Keynesian macroeconomics : a horse race
Jang, Tae-Seok; Sacht, Stephen - 2018
This study extends the hybrid version of the baseline New-Keynesian model with heterogeneous agents who may adopt various forecast heuristics. With a focus on consumer expectations, we identify the most appropriate pairs of forecast heuristics that can lead to an equivalent fit to the data...
Persistent link: https://www.econbiz.de/10011942376
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Macroeconomic dynamics under bounded rationality : on the impact of consumers' forecast heuristics
Jang, Tae-Seok; Sacht, Stephen - 2018
In this study, we analyze the macroeconomic dynamics under various shocks in two competing frameworks. Given the baseline New-Keynesian model, we compare the impulse response functions that stem from the hybrid version under rational expectations with the ones obtained in the forward-looking...
Persistent link: https://www.econbiz.de/10011942439
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Modeling consumer confidence and its role for expectation formation : a horse race
Jang, Tae-Seok; Sacht, Stephen - 2017
The notion of bounded rationality has received a considerable attention in the midst of debate over the usefulness of various macroeconomic models. In this paper we empirically seek to analyze the baseline New-Keynesian model with heterogeneous agents who may adopt various heuristics used to...
Persistent link: https://www.econbiz.de/10011635481