Journal
JOURNAL OF BUSINESS & ECONOMIC STATISTICS
Volume 27, Issue 2, Pages 279-291Publisher
AMER STATISTICAL ASSOC
DOI: 10.1198/jbes.2009.0026
Keywords
Alternating sample algorithm; Bayesian D-, A-, G-, and V-optimality; Conjoint choice design; Coordinate-exchange algorithm; Minimum potential design; Multinomial logit
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While Bayesian G- and V-optimal designs for the multinomial logit model have been shown to have better predictive performance than Bayesian D- and A-optimal designs, the algorithms for generating them have been too slow for commercial use. In this article, we present a much faster algorithm for generating Bayesian optimal designs for all four criteria while simultaneously improving the statistical efficiency of the designs. We also show how to augment a choice design allowing for correlated parameter estimates using a sports club membership study.
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