Differences in the Ability of Structural and Reduced-Form Models to Improve Pricing Decisions

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Differences in the Ability of Structural and Reduced-Form Models to Improve Pricing Decisions by : Bernd Skiera

Download or read book Differences in the Ability of Structural and Reduced-Form Models to Improve Pricing Decisions written by Bernd Skiera and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Although structural modeling as a means to improve pricing decisions often appears in prestigious academic journals, its consideration in pricing textbooks remains rather limited, and knowledge about its benefits and limitations in comparison to reduced-form models is scarce among “structural nonexperts”. This article outlines for these “structural nonexperts” which different abilities structural and reduced form models have to improve pricing decisions. Therefore, it uses a popular textbook example that fails to consider the abilities of both models, which are the abilities to capture the effects of consumers' responses and changes in cost structure on prices. It outlines that the major advantages of structural models are the ability to capture competitors' reactions and the description of new market equilibriums, which come at the costs of assumptions that usually prevent structural models to further improve prices. The beauty of the simple example provided is that it enables nontechnical readers to easily understand the major differences between structural and reduced-form models.

Quantitative Marketing and Marketing Management

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Publisher : Springer Science & Business Media
ISBN 13 : 3834937223
Total Pages : 604 pages
Book Rating : 4.8/5 (349 download)

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Book Synopsis Quantitative Marketing and Marketing Management by : Adamantios Diamantopoulos

Download or read book Quantitative Marketing and Marketing Management written by Adamantios Diamantopoulos and published by Springer Science & Business Media. This book was released on 2013-01-31 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt: Quantitative marketing has been gaining importance during the last decade. This is indicated by the growing number of model- and method-oriented studies published in leading journals as well as by the many successful applications of quantitative approaches in pricing, advertising, new product planning, and market segmentation decisions. In addition, market research has clearly benefitted from applying advanced quantitative models and methods in practice. Some 60 researchers – among them worldwide leading scholars – offer a broad overview of quantitative approaches in marketing. They not only highlight diverse mathematical and methodological perspectives, but also demonstrate the relevance and practical consequences of applying quantitative approaches to marketing problems.

Does Modeling Framework Matter? A Comparative Study of Structural and Reduced-Form Models

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Does Modeling Framework Matter? A Comparative Study of Structural and Reduced-Form Models by : Yalin Gündüz

Download or read book Does Modeling Framework Matter? A Comparative Study of Structural and Reduced-Form Models written by Yalin Gündüz and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study provides a rigorous empirical comparison of structural and reduced-form credit risk frameworks. The literature differentiates between structural models that are based on modeling of the evolution of the balance sheet of the issuer, and reduced-form models that specify credit risk exogenously by a hazard rate process. Until now, there has been no common agreement in academia and practice on which model framework better captures credit risk. As major difference we focus on the discriminative modeling of the default time. In contrast to the previous literature, we calibrate both approaches to the same data set, apply comparable estimation techniques, and assess the out-of-sample prediction quality on the same time series of CDS prices. As our empirical implementations of both approaches rely on the same market information we are able to judge whether empirically the model structure itself makes an important difference. Interestingly, our study shows that the models' prediction power are quite close on average indicating that for pricing purposes the modeling type does not greatly matter compared to the input data used. Still, the reduced-form approach outperforms the structural for investment-grade names and longer maturities. In contrast the structural approach performs better for shorter maturities and sub-investment grade names.

Handbook of Pricing Research in Marketing

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Publisher : Edward Elgar Publishing
ISBN 13 : 1848447442
Total Pages : 617 pages
Book Rating : 4.8/5 (484 download)

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Book Synopsis Handbook of Pricing Research in Marketing by : Vithala R. Rao

Download or read book Handbook of Pricing Research in Marketing written by Vithala R. Rao and published by Edward Elgar Publishing. This book was released on 2009 with total page 617 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pricing is an essential aspect of the marketing mix for brands and products. Further, pricing research in marketing is interdisciplinary, utilizing economic and psychological concepts with special emphasis on measurement and estimation. This unique Handbook provides current knowledge of pricing in a single, authoritative volume and brings together new cutting-edge research by established marketing scholars on a range of topics in the area. The environment in which pricing decisions and transactions are implemented has changed dramatically, mainly due to the advent of the Internet and the practices of advance selling and yield management. Over the years, marketing scholars have incorporated developments in game theory and microeconomics, behavioral decision theory, psychological and social dimensions and newer market mechanisms of auctions in their contributions to pricing research. These chapters, specifically written for this Handbook, cover these various developments and concepts as applied to tackling pricing problems. Academics and doctoral students in marketing and applied economics, as well as pricing-focused business practitioners and consultants, will appreciate the state-of-the-art research herein.

Advances in Financial Planning and Forecasting (New Series) Vol．5

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Publisher : Center for PBBEFR & Airiti Press
ISBN 13 : 9866286606
Total Pages : pages
Book Rating : 4.8/5 (662 download)

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Book Synopsis Advances in Financial Planning and Forecasting (New Series) Vol．5 by : Cheng F. Lee

Download or read book Advances in Financial Planning and Forecasting (New Series) Vol．5 written by Cheng F. Lee and published by Center for PBBEFR & Airiti Press. This book was released on 2012-12-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Advances in Financial Planning and Froecasting (New Series) is an annual publication designed to disseminate developments in the area of financial analysis, planning, and forecasting. The publication is a froum for statistical, quantitative, and accounting analyses of issues in financial analysis and planning in terms of finance, accounting, and economic data.

Technical Bulletin

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Publisher :
ISBN 13 :
Total Pages : 692 pages
Book Rating : 4.3/5 (243 download)

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Book Synopsis Technical Bulletin by : Cornelius H. M. Van Bavel

Download or read book Technical Bulletin written by Cornelius H. M. Van Bavel and published by . This book was released on 1959 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Can Mobile Technologies Enhance Productivity? A Structural Model and Evidence from Benin Food Suppliers

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Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Can Mobile Technologies Enhance Productivity? A Structural Model and Evidence from Benin Food Suppliers by : Pierre Nguimkeu

Download or read book Can Mobile Technologies Enhance Productivity? A Structural Model and Evidence from Benin Food Suppliers written by Pierre Nguimkeu and published by International Monetary Fund. This book was released on 2024-07-26 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the drivers of digital technologies adoption and how it affects the productivity of small scale businesses in Africa. We use data collected from two semi-rural markets in Benin, where grains and legumes are key staple foods and one-third of the population has internet access. We develop a structural model to rationalize digital technologies adoption—defined as the use of mobile broadband internet connection through smartphones—as well as usage patterns and outcomes observed in the data. The model’s implications are empirically tested using both reduced-form and structural maximum likelihood estimations. We find that younger, wealthier, more educated grains and legumes suppliers and those closely surrounded by other users are more likely to adopt digital technologies. Adopters perform 4-5 more business transactions each month than non-adopters on average, suggesting that digital technologies adoption could raise the monthly frequency and amounts of trades by up to 50%. Most adopters are women, but their productivity gains are lower than their male counterparts. Counterfactual policy simulations with the estimated model suggest that upgrading the broadband internet quality yields the largest improvement in adoption rate and productivity gains, while reducing its cost for a given connection quality only has a moderate effect. Improving access to credit only increases the adoption rate of constrained suppliers.

Structural and Reduced-form Models

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Publisher :
ISBN 13 :
Total Pages : 22 pages
Book Rating : 4.:/5 (756 download)

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Book Synopsis Structural and Reduced-form Models by : Ashley M. Funk

Download or read book Structural and Reduced-form Models written by Ashley M. Funk and published by . This book was released on 2011 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper evaluates the structural form model of John Rust's 1987 paper, Optimal Replacement of GMC Bus Engines: An Empirical Model of Harold Zurcher, by using reduced-form models to evaluate the same data and interpret the results. The question is whether reduced-form modeling such as probit and logit models can be as useful as structural models for prediction.

CFA Program Curriculum 2017 Level II, Volumes 1 - 6

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Publisher : John Wiley & Sons
ISBN 13 : 1119315735
Total Pages : 5753 pages
Book Rating : 4.1/5 (193 download)

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Book Synopsis CFA Program Curriculum 2017 Level II, Volumes 1 - 6 by : CFA Institute

Download or read book CFA Program Curriculum 2017 Level II, Volumes 1 - 6 written by CFA Institute and published by John Wiley & Sons. This book was released on 2016-08-01 with total page 5753 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master the practical aspects of the CFA Program Curriculum with expert instruction for the 2017 exam The same official curricula that CFA Program candidates receive with program registration is now publicly available for purchase. CFA Program Curriculum 2017 Level II, Volumes 1-6 provides the complete Level II Curriculum for the 2017 exam, with practical instruction on the Candidate Body of Knowledge (CBOK) and how it is applied, including expert guidance on incorporating concepts into practice. Level II focuses on complex analysis with an emphasis on asset valuation, and is designed to help you use investment concepts appropriately in situations analysts commonly face. Coverage includes ethical and professional standards, quantitative analysis, economics, financial reporting and analysis, corporate finance, equities, fixed income, derivatives, alternative investments, and portfolio management organized into individual study sessions with clearly defined Learning Outcome Statements. Charts, graphs, figures, diagrams, and financial statements illustrate complex concepts to facilitate retention, and practice questions with answers allow you to gauge your understanding while reinforcing important concepts. While Level I introduced you to basic foundational investment skills, Level II requires more complex techniques and a strong grasp of valuation methods. This set dives deep into practical application, explaining complex topics to help you understand and retain critical concepts and processes. Incorporate analysis skills into case evaluations Master complex calculations and quantitative techniques Understand the international standards used for valuation and analysis Gauge your skills and understanding against each Learning Outcome Statement CFA Institute promotes the highest standards of ethics, education, and professional excellence among investment professionals. The CFA Program Curriculum guides you through the breadth of knowledge required to uphold these standards. The three levels of the program build on each other. Level I provides foundational knowledge and teaches the use of investment tools; Level II focuses on application of concepts and analysis, particularly in the valuation of assets; and Level III builds toward synthesis across topics with an emphasis on portfolio management.

Advances in Econometrics: Volume 2

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Publisher : Cambridge University Press
ISBN 13 : 9780521566094
Total Pages : 434 pages
Book Rating : 4.5/5 (66 download)

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Book Synopsis Advances in Econometrics: Volume 2 by : Christopher A. Sims

Download or read book Advances in Econometrics: Volume 2 written by Christopher A. Sims and published by Cambridge University Press. This book was released on 1996-03-07 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 1994 two-volume set of articles reflects the state of research in theoretical and applied econometrics. The topics covered include time series methods, semiparametric methods, seasonality, financial economics, model solution techniques, economic development and labour economics.

The Oxford Handbook of Pricing Management

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Publisher : OUP Oxford
ISBN 13 : 0191634263
Total Pages : 976 pages
Book Rating : 4.1/5 (916 download)

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Book Synopsis The Oxford Handbook of Pricing Management by : Özalp Özer

Download or read book The Oxford Handbook of Pricing Management written by Özalp Özer and published by OUP Oxford. This book was released on 2012-06-07 with total page 976 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Oxford Handbook of Pricing Management is a comprehensive guide to the theory and practice of pricing across industries, environments, and methodologies. The Handbook illustrates the wide variety of pricing approaches that are used in different industries. It also covers the diverse range of methodologies that are needed to support pricing decisions across these different industries. It includes more than 30 chapters written by pricing leaders from industry, consulting, and academia. It explains how pricing is actually performed in a range of industries, from airlines and internet advertising to electric power and health care. The volume covers the fundamental principles of pricing, such as price theory in economics, models of consumer demand, game theory, and behavioural issues in pricing, as well as specific pricing tactics such as customized pricing, nonlinear pricing, dynamic pricing, sales promotions, markdown management, revenue management, and auction pricing. In addition, there are articles on the key issues involved in structuring and managing a pricing organization, setting a global pricing strategy, and pricing in business-to-business settings.

ECRM 2018 17th European Conference on Research Methods in Business and Management

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Publisher : Academic Conferences and publishing limited
ISBN 13 : 191121893X
Total Pages : 510 pages
Book Rating : 4.9/5 (112 download)

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Book Synopsis ECRM 2018 17th European Conference on Research Methods in Business and Management by : Prof. Michela Marchiori

Download or read book ECRM 2018 17th European Conference on Research Methods in Business and Management written by Prof. Michela Marchiori and published by Academic Conferences and publishing limited. This book was released on 2018-07-12 with total page 510 pages. Available in PDF, EPUB and Kindle. Book excerpt: These proceedings represent the work of researchers participating in the 17th European Conference on Research Methodology for Business and Management Studies (ECRM) which is being hosted this year by Università Roma TRE, Rome, Italy on 12-13 July 2018.

Modeling of Energy Production Decisions

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Publisher :
ISBN 13 :
Total Pages : 556 pages
Book Rating : 4.:/5 (79 download)

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Book Synopsis Modeling of Energy Production Decisions by : Wayne Leighty

Download or read book Modeling of Energy Production Decisions written by Wayne Leighty and published by . This book was released on 2008 with total page 556 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Intermediate Future Forecasting System

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Publisher :
ISBN 13 :
Total Pages : 156 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Intermediate Future Forecasting System by : Saul I. Gass

Download or read book Intermediate Future Forecasting System written by Saul I. Gass and published by . This book was released on 1983 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Pillars of Prosperity

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Publisher : Princeton University Press
ISBN 13 : 0691158150
Total Pages : 391 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis Pillars of Prosperity by : Timothy Besley

Download or read book Pillars of Prosperity written by Timothy Besley and published by Princeton University Press. This book was released on 2013-02-24 with total page 391 pages. Available in PDF, EPUB and Kindle. Book excerpt: How nations can promote peace, prosperity, and stability through cohesive political institutions "Little else is required to carry a state to the highest degree of opulence from the lowest barbarism, but peace, easy taxes, and a tolerable administration of justice; all the rest being brought about by the natural course of things." So wrote Adam Smith a quarter of a millennium ago. Using the tools of modern political economics and combining economic theory with a bird's-eye view of the data, this book reinterprets Smith's pillars of prosperity to explain the existence of development clusters—places that tend to combine effective state institutions, the absence of political violence, and high per-capita incomes. To achieve peace, the authors stress the avoidance of repressive government and civil conflict. Easy taxes, they argue, refers not to low taxes, but a tax system with widespread compliance that collects taxes at a reasonable cost from a broad base, like income. And a tolerable administration of justice is about legal infrastructure that can support the enforcement of contracts and property rights in line with the rule of law. The authors show that countries tend to enjoy all three pillars of prosperity when they have evolved cohesive political institutions that promote common interests, guaranteeing the provision of public goods. In line with much historical research, international conflict has also been an important force behind effective states by fostering common interests. The absence of common interests and/or cohesive political institutions can explain the existence of very different development clusters in fragile states that are plagued by poverty, violence, and weak state capacity.

Third Automotive Fuel Economy Research Contractors' Coordination Meeting, December 1-2, 1980

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Publisher :
ISBN 13 :
Total Pages : 796 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Third Automotive Fuel Economy Research Contractors' Coordination Meeting, December 1-2, 1980 by :

Download or read book Third Automotive Fuel Economy Research Contractors' Coordination Meeting, December 1-2, 1980 written by and published by . This book was released on 1981 with total page 796 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Political Analysis

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Publisher : University of Michigan Press
ISBN 13 : 9780472104352
Total Pages : 266 pages
Book Rating : 4.1/5 (43 download)

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Book Synopsis Political Analysis by : John R. Freeman

Download or read book Political Analysis written by John R. Freeman and published by University of Michigan Press. This book was released on 1994-01-24 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new volume in the annual that addresses all areas of political methodology. See also Stimson, James A.