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| Townsley, Robert. |
| The objective of this paper is to consider and illustrate the potential usefulness of the method of analysis known as Dynamic Programming in one field of market analysis. The illustrative problem solved is that of maximising revenue from New Zealand sales of butter on the United Kingdom market. Since April 1962 the United Kingdom has restricted imports of butter by placing quotas for twelve month periods on importing countries. It is reasonable to assume that under normal supply conditions, these quotas will be fulfilled. Under abnormal conditions, such as those due to the winter experienced in the Northern Hemisphere in 1962-63, a good market information service should make it possible to predict the expected level of supply of butter from the countries... |
| Tipo: Journal Article |
Palavras-chave: Marketing. |
| Ano: 1964 |
URL: http://purl.umn.edu/22662 |
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| Candler, Wilfred V.; Townsley, Robert. |
| Statistical estimation of the demand function for most industrial, and many agricultural, products is inhibited by price fixing or price stabilizing arrangements which prevent observation of the full range of possible price-quantity combinations. In the period 1956 to 1961 the London butter market has illustrated how markedly price can fluctuate, when not subject to a stablizing agreement. In the period 1958 to 1961 estimates of retail sales of butter are available, and these permit the estimation of the demand for butter at retail. The time lag between production and consumption decisions means that there is no problem of identification. The present study uses weekly price and quantity information, and there is a serious problem of auto-correlation of the... |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis. |
| Ano: 1962 |
URL: http://purl.umn.edu/22456 |
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