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
APA
Chicago
ICMJE
MLA
NLM
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.
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