Elementary consumer theory assumes that prices affect demand only because they affect the budget constraint (BC). By contrast, several models suggest that prices can affect demand through other channels (e.g. because they signal quality). This alternative conjecture is consistent with evidence...

This paper estimates consumer demand for firearms with the aim of predicting the likely impacts of firearm regulations on the number and types of guns in circulation. We first conduct a stated-choice-based conjoint analysis and estimate an individual-level demand model for firearms. We validate...

Providing insight into both consumer behaviour and market dynamics, information about the price elasticity of demand enables companies to optimise pricing strategies and improve their overall competitiveness. As prices and quantities are determined jointly, the empirical evaluation of price...

In this paper, we compare two fundamentally different judgmental demand forecasting approaches used to estimate demand and their corresponding demand distributions. In the first approach, parameters are obtained from a linear regression and maximum likelihood estimation (MLE) based on team...

We develop a forecasting method for the manufacturer and online seller of a product collection that changes periodically and radically. The firm, an industry leader in technology and quality, has experienced double-digit annual sales growth. In seeking to minimize supply-demand mismatch costs...