Monodense Deep Neural Model for Determining Item Price Elasticity
Item Price Elasticity is used to quantify the responsiveness of consumer demand to changes in item prices, enabling businesses to create pricing strategies and optimize revenue management. Sectors such as store retail, e-commerce, and consumer goods rely on elasticity information derived from historical sales and pricing data. This elasticity provides an understanding of purchasing behavior across different items, consumer discount sensitivity, and demand elastic departments. This information is particularly valuable for competitive markets and resource-constrained businesses decision making which aims to maximize profitability and market share. Price elasticity also uncovers historical s...
| Authors | Lakshya Garg, Sai Yaswanth, Deep Narayan Mishra et al. |
|---|---|
| Primary category | cs.LG |
| Published | 31 March 2026 |
| Last updated at source | 31 March 2026 |
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