Lecture

Revenue Maximization: Introduction to Choice Models

Description

This lecture introduces the concept of revenue maximization in the context of choice models, focusing on the expected revenue generated by individuals in a market and the total expected revenue. It covers the practical implications of pricing strategies, assumptions about market competition, and provides an illustrative example using a binary logit model to analyze revenue shares based on different population groups.

Official source

https://mediaspace.epfl.ch/media/0_4defannm

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Ontological neighbourhood

Economics

Macroeconomics: Competition

Statistics

Data analysis: Regression analysis

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