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Economic Analysis: Theory and Practice
 

Price-Quality Relation Forecasting by Means of Expert Judgments Extrapolation

Vol. 8, Iss. 9, MARCH 2009

Available online: 18 September 2009

Subject Heading: The financial analysis

JEL Classification: 

Terelyanski P.V. Candidate of Technical Sciences, Assistant Professor, Head of Information Systems in Economy Department, Volgograd State Technical University ;

This article analyses a method of forecasting the price-quality relation on basis of expert judgments. The author regards quality as a complex indicator of the sold products features from the consumer's point of view. It is stated that the products with the same integrated quality indicator shall have the same selling price. Therefore, if one product has a certain quality and a certain price, it is possible to estimate the price of another product, having estimated its quality indicator. Comparing the groups of quality markers and the selling price of the products, we can plot a curve for forecasting the products prices. The example of estimation system for second-hand market products (VAZ cars) is given.

Keywords: price, object; consumer, quality, cost, sale, comparison; rate setting; hierarchy, synthesis, discreteness, scale, system, questionnaire, assessment, mathematics, model, area, forecasting

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ISSN 2311-8725 (Online)
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