price elasticity research

Article archives from the Pricing Pricing Society

Price Elasticities Demystified

While intuitive in theory, price elasticity measurements are often too simplistic in scope for practical use in day-to-day pricing decisions. To make better use of this metric in daily pricing decisions, price elasticity should be assessed considering multiple complex factors, which can only be achieved by applying algorithms in an artificial intelligence/machine learning system environment where the algorithm is programmed to evolve in a dynamic way, as the authors explain.

By |2022-04-08T14:19:40+00:00December 31, 2021|Journal of Professional Pricing, Price Elasticity|0 Comments
Go to Top