Abstract
R ESEARCH IN PRICE forecasting has attracted the attention of professional economists, but, by and large, such research has contributed little to practical decision making. Two basic reasons can be cited for this failure. First, price researchers have failed to define clearly specific real world problems of importance and to identify alternative solutions before undertaking analyses. Second, the preoccupation with estimating demand and supply relationships and interpreting their practical significance in terms of flexibilities or elasticities has led only incidentally to useful price forecasting. In finding solutions for structural systems rather than solutions to specific management problems there is a tendency to:
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
