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Persistent link: https://www.econbiz.de/10003976959
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...
Persistent link: https://www.econbiz.de/10014052361
In conjoint choice experiments, the semi-Bayesian D-optimality criterion is often used to compute efficient designs. The traditional way to compute this criterion which involves multi-dimensional integrals over the prior distribution is to use Pseudo-Monte Carlo samples. However, other sampling...
Persistent link: https://www.econbiz.de/10012718305
In this paper, we propose a simple strategy to construct D-, A-, G- and V-optimal two-level multi-attribute designs for rating-based conjoint studies. Our approach combines orthogonal designs and balanced or partially balanced incomplete block designs. In order not to overload respondents with...
Persistent link: https://www.econbiz.de/10012730573
Recently, Kessels et al. (2006) developed a way to produce Bayesian G- and V-optimal designs for the multinomial logitmodel. These designs allow for precise response predictions which is the goal of conjoint choice experiments. The authors showed that the G- and V- optimality criteria outperform...
Persistent link: https://www.econbiz.de/10012730574
Within the context of choice experimental designs, most authors have proposed designs for the multinomial logit model under the assumption that only the main effects matter. Very little attention has been paid to designs for the attribute interaction models. In this paper, we present Bayesian...
Persistent link: https://www.econbiz.de/10014057910
In this paper, we propose an efficient individually adapted sequential Bayesian approach for constructing conjoint choice experiments. It uses Bayesian updating, a Bayesian analysis and a Bayesian design criterion for generating choice-set-designs for each individual respondent based on previous...
Persistent link: https://www.econbiz.de/10013160281
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