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If a Particular Market Is Associated with an Externality, the Social

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If a particular market is associated with an externality, the social optimum should include the wellbeing of:


Definitions:

Customer Arrivals

Refers to the occurrence of customers appearing or entering a space, such as a store or website, over a period of time, critical in demand forecasting and operations management.

Customer Arrivals

The rate or pattern at which customers enter a service area, store, or website, crucial for demand forecasting and resource planning.

Empirical Distribution

An empirical distribution is a probability distribution derived from observed data, without assuming any initial distribution model.

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