Differentiated Bayesian Conjoint Choice Designs
AbstractPrevious conjoint choice design construction procedures have produced a single design that is administered to all subjects. This paper proposes to construct a limited set of different designs. The designs are constructed in a Bayesian fashion, taking into account prior uncertainty about the parameter values. A computational procedure is developed that enables fast and easy implementation in practice. Even though the number of such different designs in the optimal set is small, it is demonstrated through a Monte Carlo study that substantial gains in efficiency are achieved over aggregate designs.
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Bibliographic InfoPaper provided by Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam. in its series Research Paper with number ERS-2003-016-MKT.
Date of creation: 29 Apr 2003
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Web page: http://www.erim.eur.nl/
experiments; consumer preferences; multinomial logit; discrete choice; estimator efficiency;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2003-12-07 (All new papers)
- NEP-DCM-2003-12-07 (Discrete Choice Models)
- NEP-ECM-2003-12-07 (Econometrics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Zsolt Sándor & Michel Wedel, 2002. "Profile Construction in Experimental Choice Designs for Mixed Logit Models," Marketing Science, INFORMS, vol. 21(4), pages 455-475, February.
- Arora, Neeraj & Huber, Joel, 2001. " Improving Parameter Estimates and Model Prediction by Aggregate Customization in Choice Experiments," Journal of Consumer Research, University of Chicago Press, vol. 28(2), pages 273-83, September.
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