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System and Method for Estimating Price Sensitivity and/or Price Aggregation for a Population Having a Collection of Items

  • US 20140278803A1
  • Filed: 03/12/2014
  • Published: 09/18/2014
  • Est. Priority Date: 03/13/2013
  • Status: Abandoned Application
First Claim
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1. A system for estimating price sensitivities and determining aggregate price adjustments for a population having a collection of items, the system comprising:

  • a computer system in electronic communication with a database storing time-series information therein, the computer system executing a price sensitivity engine and a price aggregation engine, said price sensitivity engine performing the steps of;

    electronically receiving from the database the time-series information;

    determining, based on the time-series information, a set of covariate coefficients to estimate a population price sensitivity average for the collection of items, the population comprising a plurality of sub-populations;

    modeling for the collection of items a first set of vectors based on the covariate coefficients;

    modeling for the collection of items a second set of vectors based on the covariate coefficients and an indicator variable; and

    estimating a sub-population price sensitivity for each of the plurality of sub-populations based on the first set of vectors and the second set of vectors, to generate a plurality of sub-population price sensitivities; and

    said price aggregation engine performing the steps of;

    comparing each of the sub-population price sensitivities to at least one of the population price sensitivity average or other sub-population price sensitivities of the plurality of sub-population price sensitivities;

    based on said comparing, at least one of ranking, ordering, or clustering the plurality of sub-populations; and

    determining aggregate price adjustments for items in one or more of the plurality of sub-populations based on the at least one of ranking, ordering or clustering.

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