Building better prediction models for consumer choices
As consumers, we are constantly making choices about things like what to eat at a restaurant, what clothing to buy at a store and the type of car we'd like to purchase, and so much more. Savvy producers of such goods look to economists to help estimate what products people want and how demand might...
Image: Phys.org
As consumers, we are constantly making choices about things like what to eat at a restaurant, what clothing to buy at a store and the type of car we'd like to purchase, and so much more. Savvy producers of such goods look to economists to help estimate what products people want and how demand might shift when factors like price and availability change.
Originally published at Phys.org
