Demand functions in decision modeling : a comprehensive survey and research directions
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...According to the recent survey paper on demand function modeling by Huang, Leng, and Parlar (2013), the linear demand model is widely adopted in the economic modeling literature (for example, Banker, Khosla, and Sinha (1998), Choi (1996), Chen (2001), Karaer and Erhun (2015), and Yan and Tang…...
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"Demand functions in decision modeli..." refers background in this paper
...The customer’s utility function is U(q, p, L) = u(q, p) − γL where u(q, p) represents the leadtimeindependent utility function which is increasing in q and decreasing in p, and γ is the marginal decrease in utility for a unit increase in leadtime....
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...Incorporating firms’ entry decisions, Salop (1979) extended the above “linear city model” to the “circular city model” (also see, e.g., Tirole, 1988) under the following assumptions: Consumers are located uniformly on a circle with a perimeter equal to 1....
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...For a thorough review of the Hotelling models and their extensions, see Martin (1993) and Tirole (1988)....
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...Demand arises over time according to a Poisson process with intensity λ, and customers have homogeneous preference over the price p, the valuation of product (quality) q, and the product’s delivery leadtime, L....
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...Since the classic demand models for homogenous products were comprehensively discussed in the literature (see, for example, Tirole, 1988 ; Vives, 1999), this section only focuses on reviewing the demand models for firms’ pricing competition with product differentiation....
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7,932 citations
"Demand functions in decision modeli..." refers background in this paper
...Hotelling (1929) proposed a price competition model (called “the linear city model”) with horizontal product differentiation, with the following features: Two competing firms produce identical products or offer the same service, and the firms differ from each other because of the space location,…...
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...For a thorough review of the Hotelling models and their extensions, see Martin (1993) and Tirole (1988). Incorporating firms’ entry decisions, Salop (1979) extended the above “linear city model” to the “circular city model” (also see, e....
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...For a thorough review of the Hotelling models and their extensions, see Martin (1993) and Tirole (1988)....
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...Hotelling (1929) developed the demand systems with product differentiation based on heterogeneous tastes of consumers and under Hotelling’s demand systems, Chamberlin (1933) and Robinson (1933) discussed imperfect competition with product differentiation....
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6,161 citations
3,056 citations
"Demand functions in decision modeli..." refers background in this paper
...Incorporating firms’ entry decisions, Salop (1979) extended the above “linear city model” to the “circular city model” (also see, e.g., Tirole, 1988) under the following assumptions: Consumers are located uniformly on a circle with a perimeter equal to 1....
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2,535 citations