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A related problem is that of substitution among factors.
MARS is an attribute based method for estimating rates of substitution among fire protection attributes in a spatial context.
Accurate modeling of substitution among different types of capital services is essential for capturing the massive substitution of IT equipment and software for other forms of capital.
The model allows for imperfect substitution among types of labor differentiated by education, gender, age and ten (1-digit level) occupations — a much finer differentiation than has been considered in prior work.
However, in reality, there are various interactions between different product life cycles, such as demand substitution among different types of products and the global reuse of components in other products.
Stefan Vogel, head of agri commodity markets research at Rabobank, says soy oil will flood the market this year following a record high soybean crop: "There is an easy substitution among these oils in parts of the food chain and biofuel chain".
When there's high utility of information pre-purchase and ease of substitution among products — as there is with big box retail — you run the risk that your well-educated customers will give their money to a competitor, sometimes without even leaving your store (not every customer huddled over a smartphone is playing Angry Birds).
International trade is linked through Armington substitution among goods differentiated by country of origin.
More generally, substitution among borrowers implies that, in absolute value, (b_{2}
There are two levels of substitution among energy goods in our model.
This study does not consider substitution among energy resources such as electricity, city gas, and kerosene.
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