Economics at your fingertips  

An algorithmic approach for modelling customer expectations

Nicolae Pop, Adriana Agapie () and Nicolae Teodorescu ()

Management & Marketing, 2009, vol. 4, issue 1

Abstract: The scope of this article is to discuss the dynamics of formatting customer expectations in financial services-under two models for assessing cumulative learning in customer expectations. The first model is a classical Bayesian one, the second model is an entirely new application of the Repetitive Stochastic Guesstimation (RSG) algorithm. The traditional assumption of postulating that empirical data have been generated from an underlying probability has been questioned even by orthodox theorists. Our research strategy is to cast this problem in the form of an optimization problem and show that RSG algorithm will produce a relevant solution for the original economic problem.

Keywords: Bayesian updating; Computational economics; Customer expectations; Repetitive Stochastic Guesstimation. (search for similar items in EconPapers)
Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link) (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

Management & Marketing is currently edited by Constantin Bratianu

More articles in Management & Marketing from Economic Publishing House
Bibliographic data for series maintained by Simona Vasilache ().

Page updated 2023-01-22
Handle: RePEc:eph:journl:v:4:y:2009:i:1:n:5