Comparative Statics and Elasticity of Expected Demand Functions

Dong-Joo Moon ()
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Dong-Joo Moon: Seoul National University

Chapter Chapter 5 in Congestion-Prone Services Under Quality Competition, 2011, pp 85-120 from Springer

Abstract: Abstract In Chap. 4, we have developed the expected demand function (the demand function, for short) of an option for a number of SQCPs under the random perception approach. This individual demand function for SQCPs estimates the expected value of the demand for a particular option with respect to the vector of independent variables composed of the prices and service times of all options in a market. The individual demand function is expressed as a Riemann multiple integral with respect to the random net-value-of-times of all heterogeneous service groups. For this individual demand function, the market demand function of an option can be developed by simply adding the integrands of multiple integrals for all consumers.

Keywords: Expected Demand Function; Total Market Demand; Identical Order Conditions; Catchment Domain; Qualitative Competition (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:spr:adspcp:978-3-642-20189-9_5

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DOI: 10.1007/978-3-642-20189-9_5

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