Demand Curve

Demand curves model the relationship between price and quantity demanded, a fundamental concept in economics with applications across diverse fields. Current research focuses on improving the accuracy and efficiency of demand curve estimation and prediction, particularly in scenarios with incomplete or noisy data, employing techniques like online learning algorithms, Bayesian optimization, and neural networks. These advancements are crucial for optimizing pricing strategies in various sectors, from energy markets and retail to supply chain management, leading to improved resource allocation and profit maximization. Furthermore, research is actively addressing privacy concerns related to data-driven demand modeling.