Differentiated Bayesian Conjoint Choice Designs
24 Pages Posted: 28 Mar 2006
Date Written: 29 2003 4,
Previous conjoint choice design construction procedures have produced a single design that is administered to all subjects. This paper proposes to construct a limited set of different designs. The designs are constructed in a Bayesian fashion, taking into account prior uncertainty about the parameter values. A computational procedure is developed that enables fast and easy implementation in practice. Even though the number of such different designs in the optimal set is small, it is demonstrated through a Monte Carlo study that substantial gains in efficiency are achieved over aggregate designs.
Keywords: experiments, consumer preferences, discrete choice, multinomial logit, estimator efficiency
JEL Classification: M, M31, C44, C10
Suggested Citation: Suggested Citation