P-splines are a popular approach for fitting nonlinear effects of continuous covariates in semiparametric regression models. Recently, a Bayesian version for P-splines has been developed on the basis of Markov chain Monte Carlo simulation techniques for inference. In this work we adopt and...

Designing and pricing new products is one of the most critical activities for a firm, and it is well-known that taking into account consumer preferences for design decisions is essential for products later to be successful in a competitive environment (e.g., Urban and Hauser 1993). Consequently,...