Demand estimation and Elasticities
Hello, I hope you are doing well. If you check the papers I uploaded, I guess you will understand what I want. I have a dataset which includes product details,sales ranks, prices,review counts,etc. Firstly, you will convert ranks into the number of sales by using coefficients found in the paper (Sales and rank on amazon). Then you will measure price elasticities for products like done in the other paper(Evaluating pricing strategy). Additionally, you will also measure product rank elasticities, comment count, review count and favorite count elasticities like price elasticity. This is the first part of what I want. Secondly, again like in the evaluating pricing strategy paper, I want you to estimate demand by estimating coefficients by yourself. For instance, you will choose a product like ranked as 10th and act like you know its actual number of sales like weekly 20. Then, using pareto distribution model authors used in the paper, you will estimate coefficients and demand. Then, again measure elasticities according to this demand estimation for each product. Thirdly, it would be great if you can suggest a method to estimate demand with available information in dataset like stock information and ranks. Of course, you may not come up with something, but it will be great if you can. In your work, For all this work, I want to see the steps, measurements, explanations of these to understand how you did them all. Lastly, I want to learn your area or background education, and what is the optimal due date for you to complete this project? I am adding a sample data (4 days) to resources as well. I can add the data for one month after checko
