Designing Conjoint Choice Experiments Using Managers' Prior Beliefs

  title={Designing Conjoint Choice Experiments Using Managers' Prior Beliefs},
  author={Zsolt S{\'a}ndor and Michel Wedel},
  journal={Journal of Marketing Research},
  pages={430 - 444}
The authors provide more efficient designs for conjoint choice experiments based on prior information elicited from managers about the parameters and their associated uncertainty. The authors use a Bayesian design procedure that assumes a prior distribution of likely parameter values and optimizes the design over that distribution. The authors propose a way to elicit prior information from managers and show in Monte Carlo studies that the procedure provides more efficient designs than the… 

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