MEASURING PRICE ELASTICITY AND ITS APPLICATION INTO THE REVENUE OPTIMIZATION PROCESS
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F25619161%3A_____%2F19%3AN0000022" target="_blank" >RIV/25619161:_____/19:N0000022 - isvavai.cz</a>
Result on the web
<a href="https://www.vsh.cz/file.php?id=723" target="_blank" >https://www.vsh.cz/file.php?id=723</a>
DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
MEASURING PRICE ELASTICITY AND ITS APPLICATION INTO THE REVENUE OPTIMIZATION PROCESS
Original language description
The paper focuses on various possibilities of measuring price elasticity of demand with the application of log-log regression analysis. The elasticity measured can be than an input for the optimization process. The critical element of this optimization is the value of the coefficient of price elasticity, which was in the given contribution (for the selected accommodation facility) to the value -0.297, which indicates a price inelastic demand. This approach also has some limitations. It assumes a regression function that is linear in parameters, and also it is only a simple regression. Despite this fact, the results are comparable to other approaches.
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
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OECD FORD branch
50204 - Business and management
Result continuities
Project
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Continuities
N - Vyzkumna aktivita podporovana z neverejnych zdroju
Others
Publication year
2019
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
čeština
ISBN
978-80-87411-87-2
ISSN
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e-ISSN
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Number of pages
8
Pages from-to
87-94
Publisher name
Vysoká škola hotelové v Praze 8, spol. s r. o.
Place of publication
Praha
Event location
Praha
Event date
Oct 16, 2019
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
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