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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...
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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
A traditional discrete choice model assumes that an individual's decision-making process is based on utility maximization and that the systematic part of the utility function depends on some observable attributes and covariates. These attributes and covariates however can only explain part of...
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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 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...
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