Modeling Non-Price Factors in the Demand Functions of Computerized Business Simulations
Abstract
This paper evaluates the way in which non-price factors of demand are modeled in computerized business simulations. It is found that several different functional forms are utilized. The properties of these functions are reviewed and compared to modern demand theory. A recommended functional form for modeling demand is then presented and illustrated with a numerical example.Downloads
Published
1984-03-13
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Section
Articles