A Parsimonious Description of the Hendry System
A Parsimonious Description of the Hendry System
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In our eReader you can find the full English version of the book. Read A Parsimonious Description of the Hendry System Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book A Parsimonious Description of the Hendry System
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The term, p, r can be h s understood by noting that i=l ^ '^ -7- That is, for a consumer switching out of Brand s his purchase probabilities sum up to 1 over the remaining brands. We know that the sum of market shares of all the g brands adds up to unity, that is ^ Pi = 1. I=l Recall the Hendry definition of a particular stated earlier. Namely, Phis = ^ Ph a) That is, given that consumers switch from brand s, they switch to the remaining brands in proportion to the market shares of these other ...brands, From (4) substituting for p. I, we have: N K I P. = 1. ^=1 ^ i?^s Hence, the proportionality constant K is s h= (1-p^) Note that although the concept embodied in the key assumption (1) is the same for all brands in the partition, the proportionality constant differs for each brand. From equation (1) using K = q s, we have: Ph 'his - 1-p^ • (5) -8- Substituting for p, i in equation (3) we find P. „ v, ^ = Pws'^h (s, h) 1-p s Similarly, P = Pwh- s P/u \ ^ t^wh- (h, s) 1-p n From the Law of Detailed Balancing, we know that P(s, h) P(h, s) ' and therefore Pws-^ = Pwh^ 1-p 1-p^ •^s '^h Dividing both sides of the equation above by PsPi^, we have P P u ws wh p^(l_p^) p^(i.
What to read after A Parsimonious Description of the Hendry System?
You can find similar books in the "Read Also" column, or choose other free books by Manohar U Kalwani to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The term, p, r can be h s understood by noting that i=l ^ '^ -7- That is, for a consumer switching out of Brand s his purchase probabilities sum up to 1 over the remaining brands. We know that the sum of market shares of all the g brands adds up to unity, that is ^ Pi = 1. I=l Recall the Hendry definition of a particular stated earlier. Namely, Phis = ^ Ph a) That is, given that consumers switch from brand s, they switch to the remaining brands in proportion to the market shares of these other ...brands, From (4) substituting for p. I, we have: N K I P. = 1. ^=1 ^ i?^s Hence, the proportionality constant K is s h= (1-p^) Note that although the concept embodied in the key assumption (1) is the same for all brands in the partition, the proportionality constant differs for each brand. From equation (1) using K = q s, we have: Ph 'his - 1-p^ • (5) -8- Substituting for p, i in equation (3) we find P. „ v, ^ = Pws'^h (s, h) 1-p s Similarly, P = Pwh- s P/u \ ^ t^wh- (h, s) 1-p n From the Law of Detailed Balancing, we know that P(s, h) P(h, s) ' and therefore Pws-^ = Pwh^ 1-p 1-p^ •^s '^h Dividing both sides of the equation above by PsPi^, we have P P u ws wh p^(l_p^) p^(i.
What to read after A Parsimonious Description of the Hendry System?
You can find similar books in the "Read Also" column, or choose other free books by Manohar U Kalwani to read onlineMoreLess
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