The concept of willingness-to-pay (WTP) has attracted the attention of marketeers because of its use-fulness in many applications. Nowadays one aims at describing the market heterogeneity by estimating the distribution of WTP. However, this poses several problems that have been discussed...

The goal of robust parameter design experiments is to identify significant location and dispersion factors that can be used to set the mean response at the target level and to decrease the sensitivity of the response to uncontrolled noise factors. We present a hierarchical Bayesian model and use...

Variational Bayesian methods aim to address some of the weaknesses (computation time, storage costs and convergence monitoring) of mainstream MCMCbased inference at the cost of a biased approximation to the posterior distribution. We investigate the performance of variational approximations in...

In this study, we compare the parameter estimates of the mixed logit model obtained with maximum likelihood and with hierarchical Bayesian estimation. The choice of the priors in Bayesian estimation and of the type and the number of quasi-random draws for maximum likelihood estimation have a big...