Title
An efficient algorithm for constructing Bayesian optimal choice designs
Author
Faculty/Department
Faculty of Applied Economics
Publication type
article
Publication
Alexandria, Va ,
Subject
Engineering sciences. Technology
Source (journal)
Journal of business and economic statistics. - Alexandria, Va
Volume/pages
27(2009) :2 , p. 279-291
ISSN
0735-0015
1537-2707
ISI
000268506500011
Carrier
E
Target language
English (eng)
Full text (Publishers DOI)
Affiliation
University of Antwerp
Abstract
While Bayesian - and -optimal designs for the multinomial logit model have been shown to have better predictive performance than Bayesian - and -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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