Traditional Culture Encyclopedia - Hotel accommodation - Ask the expert for help: What does the taste parameter mean in economics?
Ask the expert for help: What does the taste parameter mean in economics?
For example, the fourth chapter analyzes the conditions of second-degree price discrimination when enterprises know that consumers' taste parameters are evenly distributed.
Translation:
The fourth chapter analyzes the conditions for monopoly manufacturers to use two kinds of constraints to implement second-degree price discrimination when they know that consumer demand preference parameters obey uniform distribution.
Another example is: if the distribution of consumer's taste parameters is unknown, how can he decide the quality difference of such products?
How can a consumer decide the different supply of various products when the distribution of demand preference in the market is uncertain?
I hope these two examples will help you understand.
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