Differentiated Bayesian Conjoint Choice Designs
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.
|Keywords||consumer preferences, discrete choice, estimator efficiency, experiments, multinomial logit|
Sándor, Z., & Wedel, M.. (2003). Differentiated Bayesian Conjoint Choice Designs (No. ERS-2003-016-MKT). Retrieved from http://hdl.handle.net/1765/320