https://towardsdatascience.com/causal-inference-example-elasticity-de4a3e2e621b?gi=cb88b072c5b9
Causal Inference in the Wild: Elasticity Pricing
How can machine learning to improve causal inference in industry? I describe a real example with code for retail pricing.
Lars Roemheld
July 8, 2021
“The preferred way to causal inference is, of course, (randomized) experimentation: the retailer might spend some time randomly adjusting product prices up and down (or better yet, randomize prices across users). But such experimentation is expensive… But estimating causal effects from observational data is difficult because of confounding.”