A Simple Bayesian Procedure for Estimation in a Conjoint Model
Open Access
- 1 February 1983
- journal article
- research article
- Published by SAGE Publications in Journal of Marketing Research
- Vol. 20 (1) , 29-35
- https://doi.org/10.1177/002224378302000104
Abstract
The authors propose a simple Bayesian approach which combines self-explicated data with conjoint data for estimating individual-level conjoint models. Analytical results show that, with typical conjoint data, improvement may be expected over the estimation and prediction results obtained with ordinary least squares (OLS). The expected improvement in prediction is confirmed by pilot empirical results.Keywords
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