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- W3204682955 abstract "Characterizing the demand curve of products is important for pricing them optimally. However, in deriving empirical demand curves, econometricians have to contend with identification issues. Furthermore, theoretical demand curves derived using standard economic theory are divorced from empirical realities: firms rarely have information on customers’ budget constraints; theoretical utility functions are seldom derived empirically. Recognizing these issues, we propose an experimental approach for determining a product’s demand curve and, in turn, its profit-maximizing price in online environments. The proposed approach yields precise estimates and is quick and inexpensive to implement." @default.
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- W3204682955 date "2021-09-28" @default.
- W3204682955 modified "2023-09-23" @default.
- W3204682955 title "An Experimental Pricing Framework for E-Commerce" @default.
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- W3204682955 doi "https://doi.org/10.3390/jtaer16070141" @default.
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