MEASURING PRICE ELASTICITY AND ITS APPLICATION INTO THE REVENUE OPTIMIZATION PROCESS

@inproceedings{24465,
   author = {Petříček, Martin and Chalupa, Štěpán},
   address = {Prague},
   booktitle = {11th INTERNATIONAL CONFERENCE PROCEEDINGS - HOSPITALITY, TOURISM AND EDUCATION},
   keywords = {Demand, Elasticity, Price},
   howpublished = {elektronická verze "online"},
   location = {Prague},
   isbn = {978-80-87411-87-2},
   pages = {87-94},
   publisher = {Institute of Hospitality Management in Prague 8.},
   title = {MEASURING PRICE ELASTICITY AND ITS APPLICATION INTO THE REVENUE OPTIMIZATION PROCESS},
   year = {2019}
}

TY  - JOUR
ID  - 24465
AU  - Petříček, Martin - Chalupa, Štěpán
PY  - 2019
TI  - MEASURING PRICE ELASTICITY AND ITS APPLICATION INTO THE REVENUE OPTIMIZATION PROCESS
PB  - Institute of Hospitality Management in Prague 8.
CY  - Prague
SN  - 9788087411872
KW  - Demand, Elasticity, Price
N2  - 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.
ER  - 

PETŘÍČEK, Martin a Štěpán CHALUPA. MEASURING PRICE ELASTICITY AND ITS APPLICATION INTO THE REVENUE OPTIMIZATION PROCESS. Online. In \textit{11th INTERNATIONAL CONFERENCE PROCEEDINGS - HOSPITALITY, TOURISM AND EDUCATION}. Prague: Institute of Hospitality Management in Prague 8., 2019, s.~87-94. ISBN~978-80-87411-87-2.