Abstract

https://ssrn.com/abstract=320740
 
 

Citations (133)



 


 



Bayesian Statistics and Marketing


Greg M. Allenby


Ohio State University (OSU) - Department of Marketing and Logistics

Peter E. Rossi


University of California, Los Angeles (UCLA) - Anderson School of Management

July 2002


Abstract:     
Bayesian methods have become widespread in the marketing literature. We review the essence of the Bayesian approach and explain why it is particularly useful for marketing problems. While the appeal of the Bayesian approach has long been noted by researchers, recent developments in computational methods and expanded availability of detailed marketplace data has fueled the Bayesian growth in marketing. We emphasize the modularity and flexibility of modern Bayesian approaches. Finally, the usefulness of Bayesian methods in situations in which there is limited information about a large number of units or where the information comes from different sources is noted.

Number of Pages in PDF File: 57

Keywords: Bayesian Statistics, decision theory, marketing models

JEL Classification: M3, C1


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Date posted: September 17, 2002  

Suggested Citation

Allenby, Greg M. and Rossi , Peter E., Bayesian Statistics and Marketing (July 2002). Available at SSRN: https://ssrn.com/abstract=320740 or http://dx.doi.org/10.2139/ssrn.320740

Contact Information

Greg M. Allenby
Ohio State University (OSU) - Department of Marketing and Logistics ( email )
Fisher Hall 524
2100 Neil Ave
Columbus, OH 43210
United States

Peter E. Rossi (Contact Author)
University of California, Los Angeles (UCLA) - Anderson School of Management ( email )
110 Westwood Plaza
Los Angeles, CA 90095-1481
United States
773-294-8616 (Phone)
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