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A Bayesian approach to pricing
( go to the article → https://www.johndcook.com/blog/2022/02/12/bayesian-pricing/ )
Suppose you want to determine how to price a product and you initially don’t know what the market is willing to pay. This post outlines some of the things you might think about, and how Bayesian modeling might help. This post is not the final word on the subject, or even my final word on […] The post A Bayesian approach to pricing first appeared on John D. Cook.
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