Notes on demand: Conceptual and empirical benefits of applying Rachlin's discounting equation to demand data.

Mark J RzeszutekChristopher T FranckHaily K TraxlerBrent A KaplanMikhail N Koffarnus

Published in: Psychology of addictive behaviors : journal of the Society of Psychologists in Addictive Behaviors (2022)

Rachlin's equation better described demand data than did the exponentiated equation, indicating that demand for a commodity may decrease hyperbolically rather than exponentially. Other benefits of his equation are that it does not have the same pitfalls as the current exponential equations and is relatively straightforward in its conceptualization when applied to demand data. (PsycInfo Database Record (c) 2022 APA, all rights reserved).

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