Skip to main content

Bayesian Analysis of Demand Under Block Rate Pricing

  • Book
  • © 2019

Overview

  • Presents the Bayesian estimation method for the discrete/continuous choice approach for demand under block rate pricing
  • Explains the model coherency inherent in discrete/continuous choice and its connection to microeconomic theory
  • Applies the estimation method to real-world datasets for the analysis of demand under block rate pricing, which can be used for prediction as well as policymaking

Part of the book series: SpringerBriefs in Statistics (BRIEFSSTATIST)

Part of the book sub series: JSS Research Series in Statistics (JSSRES)

  • 1771 Accesses

This is a preview of subscription content, log in via an institution to check access.

Access this book

eBook USD 39.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book USD 54.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Other ways to access

Licence this eBook for your library

Institutional subscriptions

Table of contents (6 chapters)

Keywords

About this book

This book focuses on the structural analysis of demand under block rate pricing, a type of nonlinear pricing used mainly in public utility services. In this price system, consumers are presented with several unit prices, which makes a naive analysis biased. However, the response to the price schedule is often of interest in economics and plays an important role in policymaking. To address this issue, the book adopts a structural approach, referred to as the discrete/continuous choice approach in the literature, to develop corresponding statistical models for analysis.

The resulting models are extensions of the Tobit model, a well-known statistical model in econometrics, and their hierarchical structure fits well in Bayesian methodology. Thus, the book takes the Bayesian approach and develops the Markov chain Monte Carlo method to conduct statistical inferences. The methodology derived is then applied to real-world datasets, microdata collected in Tokyo and the neighboring Chiba Prefecture, as a useful empirical analysis for prediction as well as policymaking.

Authors and Affiliations

  • School of Economics, Kwansei Gakuin University, Nishinomiya, Japan

    Koji Miyawaki

About the author

Koji Miyawaki, Kwansei Gakuin University

Bibliographic Information

Publish with us