Overviewing the exponential model of demand and introducing a simplification that solves issues of span, scale, and zeros.

Abstract

within the HS framework and propose a simplified exponential model with normalized decay (Equation 10). The simplified exponential equation does not include the span parameter k and allows for straightforward analytic solutions for conceptually relevant and common demand metrics. Parities between the Hursh and Silberberg model and the simplified exponential with normalized decay model are demonstrated by conversions of α values between both models. Statistical parities between the simplified exponential with normalized decay model and the exponentiated model of demand with multiple data sets are also demonstrated. This simplified model then allows for consistent interpretations of α across commodities while retaining the theoretical benefits of the Hursh and Silberberg formulation of demand and the essential value. (PsycInfo Database Record (c) 2025 APA, all rights reserved).

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