Searched for: subject%3A%22probabilistic%255C%2Bdemand%255C%2Bfunction%22
(1 - 1 of 1)
Chorus, C.G. (author), Dekker, Thijs (author)
This paper is the first to develop a measure of consumer surplus for the Random Regret Minimisation (RRM) model. Following a not so well-known approach proposed two decades ago, we measure (changes in) consumer surplus by studying (changes in) observed behaviour, i.e. the choice probability, in response to price (changes). We interpret the...
journal article 2018