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Market Simulation Using Bayesian Procedures in Conjoint Analysis

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Exploratory Data Analysis in Empirical Research

Abstract

New procedures for predicting market shares of competing products in assumed possiblemarket scenariosare proposed: Weuse Gibbs sampling in a first phase to obtain the posterior distribution of preference model parameters w.r.t. product choice-relevant attributes and levels. Then, in a second phase, this distribution is used for market simulation. We discuss advantages of the new procedures in an empirical comparison with traditional ones.

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Author information

Authors and Affiliations

  1. Institute of Business Administration and Economics, Brandenburg University of Technology Cottbus, D-03042, Cottbus

    D. Baier

  2. Institute of Statistics and Econometrics, University of Basel, CH-4051, Basel

    W. Polasek

Authors
  1. D. Baier
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  2. W. Polasek
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Editor information

Editors and Affiliations

  1. Munich School of Management Institute of Corporate Development and Organization, University of Munich, Kaulbachstraße 45/1, 80539, Munich, Germany

    Manfred Schwaiger

  2. Department of Mathematical Methods in Economics, University of Augsburg, Universitätsstraße 16, 86159, Augsburg, Germany

    Otto Opitz

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© 2003 Springer-Verlag Berlin Heidelberg

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Baier, D., Polasek, W. (2003). Market Simulation Using Bayesian Procedures in Conjoint Analysis. In: Schwaiger, M., Opitz, O. (eds) Exploratory Data Analysis in Empirical Research. Studies in Classification, Data Analysis, and Knowledge Organization. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-55721-7_42

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  • DOI: https://doi.org/10.1007/978-3-642-55721-7_42

  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-540-44183-0

  • Online ISBN: 978-3-642-55721-7

  • eBook Packages: Springer Book Archive

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