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An Approach To Modeling The Probable Consumers Demand Of Food Products Using Pearson Distribution System And Johnson Distribution System

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  • Milcho BLIZNAKOV

    (Department of Industrial Business and Logistics, Varna University of Economics, Bulgaria)

Abstract

The purpose of the article is to evaluate the parameters of demand for diesel fuel by households in Bulgaria, the structure of the retail fuel market and the effectiveness of competition. Based on statistical data, the parameters of the demand function for diesel fuel by households were estimated and the price and income elasticity was determined. Models of market behaviour are applied and theoretical values of equilibrium quantities and prices are estimated. The hypotheses of cartel existence, revenue maximization, competitive market with low market concentration and perfect competition are tested.

Suggested Citation

  • Milcho BLIZNAKOV, 2023. "An Approach To Modeling The Probable Consumers Demand Of Food Products Using Pearson Distribution System And Johnson Distribution System," Business & Management Compass, University of Economics Varna, issue 3, pages 224-237.
    • Handle: RePEc:vrn:journl:y:2023:i:3:p:224-237
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    References listed on IDEAS

    as
    1. Lin, C.-Y. Cynthia & Zeng, Jieyin (Jean), 2013. "The elasticity of demand for gasoline in China," Energy Policy, Elsevier, vol. 59(C), pages 189-197.
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    More about this item

    Keywords

    Retail diesel fuel market; demand; competition; price elasticity;
    All these keywords.

    JEL classification:

    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance

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