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Differentiated Bayesian Conjoint Choice Designs

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Author Info
Sándor, Z.
Wedel, M. (Erasmus Research Institute of Management (ERIM), RSM Erasmus University)
Abstract

Previous 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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File URL: http://hdl.handle.net/1765/320
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Publisher Info
Paper 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 Revision_Date: 2008-02-15.

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Date of creation: 29 Apr 2003
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Handle: RePEc:dgr:eureri:3000324

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Keywords: experiments consumer preferences discrete choice multinomial logit estimator efficiency

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  1. Arora, Neeraj & Huber, Joel, 2001. " Improving Parameter Estimates and Model Prediction by Aggregate Customization in Choice Experiments," Journal of Consumer Research: An Interdisciplinary Quarterly, University of Chicago Press, vol. 28(2), pages 273-83, September.
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This page was last updated on 2008-10-8.

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