Calculation and Visualization of Dynamic Price Elasticities
نویسنده
چکیده
Applying the Hierarchical Bayesian Regression model to weekly aggregated sales history data from 92 retail stores located around Tokyo, I calculated price elasticities by item, week, and store. These elasticities are more stable than figures calculated using the Hierarchical Regression or Bayesian Regression models. Furthermore, using Google Earth, I visualized the calculated price elasticities of these 92 stores over 67 weeks, providing a better understanding about heterogeneity of price elasticities across time and space.
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