Identifying the Number of Classes in Hierarchical Bayes Latent Class Metric Conjoint Analysis

Abstract

For identifying the number of classes in Hierarchical Bayes Latent Class Conjoint Analysis (HB/LCMCA, see, e.g. Baier, Polasek (2003), Tüchler et al. (2004)) the estimation of model likelihoods from MCMC output is most challenging. Various approaches exist for this purpose, e.g. the candidate’s formula (Chib (1995)), bridge sampling (Meng, Wong (1996… (More)

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