Implications of Competitor Representation on Optimal Design
Published: Aug 18, 2019
Abstract
We investigate the effect of competitor product representation on optimal design results in profit-maximization studies. Specifically, we study the implications of replacing a large set of product alternatives available in the marketplace with a reduced set of selected competitors or with composite alternatives, as is common in the literature. We derive first-order optimality conditions and show that optimal design (but not price) is independent...
Paper Details
Title
Implications of Competitor Representation on Optimal Design
Published Date
Aug 18, 2019
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