Sudden demand surges or supply chains snarls will drive prices up quickly. Businesses face two issues when this happens, First, when a price rises sharply, how long will it take for increased supply ...

One, tackle by price; the other, tackle with data. Price elasticity plays an important role in business. If a product price is raised or lowered and demand changes little, it is price inelastic. If ...

Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation This paper establishes supply and demand elasticities for a broad set of commodities based on a consistent dataset and ...

More retailers are now applying machine-learning models to guide their pricing decisions. The algorithms associate price changes with sales changes by mining waves of historical data on purchases, ...