Abstract
A theoretical proof for the mathematical properties of the law of demand is presented. The properties differ significantly from the properties of demand functions commonly used in computerized business simulators. Using a probability distribution that has the mathematical properties required by the law of demand, a market demand model is presented. The new model satisfies economic and marketing theories of consumer behavior and offers considerably more simulation flexibility than possible with business simulators currently available. Suggestions for using the new model to simulate real industries are provided.
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