Bayesian Statistics and Marketing

@inproceedings{Rossi2002BayesianSA,
  title={Bayesian Statistics and Marketing},
  author={Peter E. Rossi and Greg M. Allenby},
  year={2002}
}
Bayesian methods have become widespread in 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 growth in application of Bayesian methods in marketing. We emphasize the modularity and flexibility of modern Bayesian… Expand

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