Template-Type: ReDIF-Paper 1.0
Author-Name: Sándor, Z.
Author-Name-Last: Sándor
Author-Name-First: Zsolt
Author-Name: Wedel, M.
Author-Name-Last: Wedel
Author-Name-First: Michel
Title: Differentiated Bayesian Conjoint Choice Designs
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.
Creation-Date: 2003-04-29
File-URL: https://repub.eur.nl/pub/320/ERS-2003-016-MKT.pdf
File-Format: application/pdf
Series: RePEc:ems:eureri
Number: ERS-2003-016-MKT
Classification-JEL: C10, C44, M, M31
Keywords: consumer preferences, discrete choice, estimator efficiency, experiments, multinomial logit
Handle: RePEc:ems:eureri:320