Recommendations on the use of Bayesian Optimal Designs for Choice Experiments

In 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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Year of publication:	2007
Authors:	Kessels, Roselinde ; Jones, Bradley ; Goos, Peter ; Vandebroek, Martina L.
Publisher:	[S.l.] : SSRN
Subject:	Theorie \| Theory \| Experiment \| Bayes-Statistik \| Bayesian inference \| Conjoint-Analyse \| Conjoint analysis \| Mathematische Optimierung \| Mathematical programming

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Extent:	1 Online-Ressource (19 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments 2006 erstellt
Other identifiers:	10.2139/ssrn.968586 [DOI]
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014052361