Leonard, Herman B.; Tye, William B. - In: Transportation Research Part B: Methodological 20 (1986) 1, pp. 41-47
"Bayesian-Ramsey pricing" has been offered to correct for the undue sensitivity of the Baumol and Bradford formulation of Ramsey pricing to relatively small errors in the highly uncertain least-squares estimates of the relevant demand elasticities. This paper provides a derivation of the Ramsey...