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Improving parameter estimates and model prediction by aggregate customization in choice experiments

Publication ,  Journal Article
Arora, N; Huber, J
Published in: Journal of Consumer Research
September 1, 2001

We propose aggregate customization as an approach to improve individual estimates using a hierarchical Bayes choice model. Our approach involves the use of prior estimates to build a common design customized for the average respondent. We conduct two simulation studies to investigate conditions that are most conducive to aggregate customization. The simulations are validated by a field study showing that aggregate customization results in better estimates of individual parameters and more accurate predictions of individuals' choices. The proposed approach is easy to use, and a simulation study can assess the expected benefit from aggregate customization prior to its implementation.

Duke Scholars

Published In

Journal of Consumer Research

DOI

ISSN

0093-5301

Publication Date

September 1, 2001

Volume

28

Issue

2

Start / End Page

273 / 283

Related Subject Headings

  • Marketing
  • 3506 Marketing
  • 1701 Psychology
  • 1506 Tourism
  • 1505 Marketing
 

Citation

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Arora, N., & Huber, J. (2001). Improving parameter estimates and model prediction by aggregate customization in choice experiments. Journal of Consumer Research, 28(2), 273–283. https://doi.org/10.1086/322902
Arora, N., and J. Huber. “Improving parameter estimates and model prediction by aggregate customization in choice experiments.” Journal of Consumer Research 28, no. 2 (September 1, 2001): 273–83. https://doi.org/10.1086/322902.
Arora N, Huber J. Improving parameter estimates and model prediction by aggregate customization in choice experiments. Journal of Consumer Research. 2001 Sep 1;28(2):273–83.
Arora, N., and J. Huber. “Improving parameter estimates and model prediction by aggregate customization in choice experiments.” Journal of Consumer Research, vol. 28, no. 2, Sept. 2001, pp. 273–83. Scopus, doi:10.1086/322902.
Arora N, Huber J. Improving parameter estimates and model prediction by aggregate customization in choice experiments. Journal of Consumer Research. 2001 Sep 1;28(2):273–283.
Journal cover image

Published In

Journal of Consumer Research

DOI

ISSN

0093-5301

Publication Date

September 1, 2001

Volume

28

Issue

2

Start / End Page

273 / 283

Related Subject Headings

  • Marketing
  • 3506 Marketing
  • 1701 Psychology
  • 1506 Tourism
  • 1505 Marketing