2009-04-01
An Efficient Algorithm for Constructing Bayesian Optimal Choice Designs
Publication
Publication
Journal of Business and Economic Statistics , Volume 27 - Issue 2 p. 279- 291
While Bayesian - and -optimal designs for the multinomial logit model have been shown to have better predictive performance than Bayesian - and -optimal designs, the algorithms for generating them have been too slow for commercial use. In this article, we present a much faster algorithm for generating Bayesian optimal designs for all four criteria while simultaneously improving the statistical efficiency of the designs. We also show how to augment a choice design allowing for correlated parameter estimates using a sports club membership study.
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hdl.handle.net/1765/19557 | |
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Journal of Business and Economic Statistics | |
Organisation | Erasmus Research Institute of Management |
Kessels, R., Jones, B., Goos, P., & Vandebroek, M. (2009). An Efficient Algorithm for Constructing Bayesian Optimal Choice Designs. Journal of Business and Economic Statistics, 27(2), 279–291. Retrieved from http://hdl.handle.net/1765/19557 |