id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
absel-521	Murff, Elizabeth; Teach, Richard; Schwartz, Robert G.	Three-Attribute Interrelationships for Industry-Level Demand Equations	2014	6	.pdf	application/pdf	4594	173	50	Three-Attribute Interrelationships for Industry-Level Demand Equations Developments in Business Simulation and Experiential Learning, Volume 33, 2006 THREE-ATTRIBUTE INTERRELATIONSHIPS FOR INDUSTRY-LEVEL DEMAND EQUATIONS Elizabeth J Tipton Murff Eastern Washington University ejtmurff@ewu.edu Richard D. Teach Georgia Institute of Technology, richard.teach@mgt.gatech.edu Robert G. Schwartz Eastern Washington University, robert.schwartz@ewu.edu ABSTRACT where P is price, M is marketing and promotion effort, and R is the research (and development) effort for the particular product. Additionally, the Gold and Pray model does not control for relationships between the primary demand generating variables: A joint distribution Over twenty years ago, Gold and Pray (1983) presented the now frequently cited industry-level demand equation: (see equation 1) )()()( 765432),,( RggMggPgg RMPgRMPQ +++−= (1) 1 Figur fo 3 9 15 21 27 33 39 45 0 20000 40000 60000 80000 100000 Demand Promotion Price e 1: Surface map of Gold and Pray’s industry-level demand equation r price and promotion inputs (Price scale reversed for readability) 213 mailto:ejtmurff@ewu.edu mailto:richard.teach@mgt.gatech.edu mailto:robert.schwartz@ewu.edu Developments in Business Simulation and Experiential Learning, Volume 33, 2006	cache/absel-521.pdf	txt/absel-521.txt