Recommendations on the use of Bayesian optimal designs for choice experiments
AbstractIn this paper, we argue that some of the prior parameter distributions used in the literature for the construction of Bayesian optimal designs are internally inconsistent. We rectify this error and provide practical advice on how to properly specify the prior parameter distribution. Also, we present two pertinent examples to illustrate that Bayesian optimal designs generally outperform utility-neutral optimal designs that are based on linear design principles.
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Bibliographic InfoPaper provided by Katholieke Universiteit Leuven in its series Open Access publications from Katholieke Universiteit Leuven with number urn:hdl:123456789/120986.
Date of creation: 2006
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Bayesian optimal designs; Choice experiments; Prior parameter distribution; Utility-neutral optimal designs;
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- Vermeulen, Bart & Goos, Peter & Scarpa, R. & Vandebroek, Martina, 2008. "Design criteria to develop choice experiments to measure the WTP accurately," Open Access publications from Katholieke Universiteit Leuven urn:hdl:123456789/196138, Katholieke Universiteit Leuven.
- KESSELS, Roselinde & BRADLEY, Jones & GOOS, Peter, 2012. "A comparison of partial profile designs for discrete choice experiments with an application in software development," Working Papers 2012004, University of Antwerp, Faculty of Applied Economics.
- Vermeulen, Bart & Goos, Peter & Scarpa, Riccardo & Vandebroek, Martina, 2010.
"Bayesian conjoint choice designs for measuring willingness to pay,"
Open Access publications from Katholieke Universiteit Leuven
urn:hdl:123456789/272171, Katholieke Universiteit Leuven.
- Bart Vermeulen & Peter Goos & Riccardo Scarpa & Martina Vandebroek, 2011. "Bayesian Conjoint Choice Designs for Measuring Willingness to Pay," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 48(1), pages 129-149, January.
- Crabbe, Marjolein & Vandebroek, Martina, 2011. "Improving the efficiency of individualized designs for the mixed logit choice model by including covariates," Open Access publications from Katholieke Universiteit Leuven urn:hdl:123456789/322827, Katholieke Universiteit Leuven.
- J. DeShazo & Trudy Cameron & Manrique Saenz, 2009. "The Effect of Consumers’ Real-World Choice Sets on Inferences from Stated Preference Surveys," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 42(3), pages 319-343, March.
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