Regression Tree Model for Analysis of Demand with Heterogeneity and Censorship
Economics/EC. WP BRP. Высшая школа экономики , 2017. No. WP BRP 174/EC/2017.
Ozhegov E. M., Ozhegova A.
In this research we analyze new approach for prediction of demand. In the studied market of performing arts the observed demand is limited by capacity of the house. Then one needs to account for demand censorhip to obtain unbiased estimates of demand funnction parameters. The presence of consumer segments with dierent purposes of going to the theatre and willingness-to-pay for performance and ticket characteristics causes a heterogeneity in theatre demand. We propose an estimator for prediction of demand that accounts for both demand censorhip and preferences heterogeneity. The estimator is based on the idea of classiffication and regression trees and bagging prediction aggregation extended for prediction of censored data. Our algorithm predicts and combines predictions for both discrete and continuous parts of censored data.We show that our estimator performs better in terms of prediction accuracy compared with estimators which accounts either for censorship, or heterogeneity only. The proposed approach is helpful for finding product segments and optimal price setting.
, , Journal of Forecasting 2018
In this research we analyze new approach for prediction of demand. In the studied market of performing arts the observed demand is limited by capacity of the house. Then one needs to account for demand censorhip to obtain unbiased estimates of demand function parameters. The presence of consumer segments with different purposes of going to ...
Added: October 10, 2017
, , Journal of Forecasting 2019 Vol. 39 No. 3 P. 489-500
In this research we analyze a new approach for prediction of demand. In the studied market of performing arts the observed demand is limited by capacity of the house. Then one needs to account for demand censorship to obtain unbiased estimates of demand function parameters. The presence of consumer segments with different purposes of going ...
Added: November 24, 2019
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Theatrical productions are supposed to be perishable good, since the tickets for a particular play cannot be inventoried and sold after a time of play. In the revenue management of a perishable good price discrimination is widely used. Since the theatre audience is heterogeneous in terms of visit purpose, ability to perceive quality, willingness-to-pay, the strategy of price discrimination is ...
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, , Demand for performing arts: the effect of unobserved quality on price elasticity / . 2016. No. 05 - 2016.
This paper studies the behavior patterns among the theatre’s attendants in the process of ticket’s purchase. Since the theatre attempts to balance between the high rate of occupancy and the affordable prices for the spectator, the purpose of the study is to reveal the effects of changes in prices on attendance rate on different levels ...
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This paper studies the behavior patterns among the theatre's attendants in the process of tickets purchase. Since the theatre attempts to balance between the high rate of occupancy and the aordable prices for the spectator, the purpose of the study is to reveal the eects of changes in prices on attendance rate on dierent levels ...
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Objective: the main objective of the paper is to systemize the approaches to reveal consumer preferences in the market if performing arts. We focus on the data used in empirical studies, main variables and their measures to determine the preferences and econometric methods of preferences identification. Methodology: we use metaanalysis of recent papers on the estimation ...
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