TAILIEUCHUNG - Lecture Managerial economics: Chapter 6 - Dr. Hasnain Naqvi

This chapter provides knowledge of demand estimation & forecasting. The contents of this chapter include all of the following: Direct methods of demand estimation, empirical demand functions, nonlinear empirical demand specification, demand for a price-setter, time-series forecasts,. | Demand Estimation & Forecasting Direct Methods of Demand Estimation Consumer interviews Range from stopping shoppers to speak with them to administering detailed questionnaires Potential problems Selection of a representative sample, which is a sample (usually random) having characteristics that accurately reflect the population as a whole Response bias, which is the difference between responses given by an individual to a hypothetical question and the action the individual takes when the situation actually occurs Inability of the respondent to answer accurately Direct Methods of Demand Estimation Market studies & experiments Market studies attempt to hold everything constant during the study except the price of the good Lab experiments use volunteers to simulate actual buying conditions Field experiments observe actual behavior of consumers Empirical Demand Functions Demand equations derived from actual market data Useful in making pricing & production decisions In linear

• Kinh tế học
• Managerial economics
• Lecture Managerial economics
• Economic principles
• Kinh tế học quản lý
• Fundamentals of managerial economics
• Demand estimation
• Market interactions
• Marginal analysis
• Marginal benefit
• Price discrimination
• Monopolistic competition
• Oligopoly games
• Traditional oligopoly models
• Capital market
• Labour market
• Economic equations
• Economic applications
• Economic applications of derivatives
• Economic application
• Multi variable functions
• Constrained optimization
• Scatter diagram
• Forms of money
• Monetary policy
• Perfect competition
• Demand function
• Supply function
• Quantitative demand analysis
• Theory of individual behavior
• Production function
• Costs of production
• Organizing production