Building better prediction models for consumer choices

As consumers, we are constantly making choices about things like what to eat at a restaurant, what clothing to buy at a store and the type of car we'd like to purchase, and so much more. Savvy producers of such goods look to economists to help estimate what products people want and how demand might shift when factors like price and availability change.

This report comes from Phys.org. The story centres on Building better prediction models for consumer choices. Full coverage and background context is available at the original source. Readers seeking more detail on this developing topic are encouraged to follow updates from Phys.org and related outlets covering this beat.