Mathematical Modeling of the Brewery Sector in Greece with the Use of Differential Equations

Z. Kalogiratou (), Th. Monovasilis (), N. Tsounis (), G. Bertsatos and S. Moustakli
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Z. Kalogiratou: University of Western Macedonia
Th. Monovasilis: University of Western Macedonia
N. Tsounis: University of Western Macedonia
G. Bertsatos: University of Western Macedonia
S. Moustakli: University of Western Macedonia

Chapter Chapter 43 in Advances in Cross-Section Data Methods in Applied Economic Research, 2020, pp 651-659 from Springer

Abstract: Abstract Computational biologyKalogiratou, Z. models of the Volterra–Lotka family, known as competing species models, are used for modeling anMonovasilis, Th. oligopoly market, with applicationTsounis, N. to the brewery sector in Greece. Parameter estimation with nonlinear least squaresBertsatos, G. is performed. The findings show the company with the larger market share is experiencing a strong competitionMoustakli, S. from all the other companies of the sector; the coefficient is negative and its value is −0.59. However, the coefficient for the “rest of the companies” in the sector has a positive sign although its value is small, about 0.07. This indicates that smaller companies of the sector benefited by the increase of sales of the first company maybe because they are targeting consumers with different tastes offering a completely differentiated product.

Keywords: Differential equations; Duopoly; Brewery sector; C62; C63; D43 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-030-38253-7_43

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DOI: 10.1007/978-3-030-38253-7_43

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