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Activity Number:
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190
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Type:
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Topic Contributed
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Date/Time:
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Monday, July 30, 2007 : 2:00 PM to 3:50 PM
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Sponsor:
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Section on Bayesian Statistical Science
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| Abstract - #309117 |
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Title:
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The Dependent Poisson Race Model and Modeling Dependence in Conjoint Choice Experiments (Student Paper Competition)
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Author(s):
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Shiling Ruan*+ and Steven N. MacEachern+ and Thomas Otter and Angela Dean
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Companies:
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The Ohio State University and The Ohio State University and The Ohio State University and The Ohio State University
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Address:
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2001 Whitman Way, San Bruno, CA, 94066, , Columbus, OH, 43210,
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Keywords:
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Poisson race model ; Bayesian model ; multinomial logit model ; dependent processes ; dominance ; Poisson process
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Abstract:
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Conjoint choice experiments are used widely in marketing to study consumer preferences amongst alternative products. We develop a class of choice models, belonging to the class of Poisson race models, that describe a ``random utility'' which lends itself to a process-based description of choice. The models incorporate a dependence structure which captures the relationship between the attributes of the choice alternatives and which appropriately moderates the randomness inherent in the race. The new models are applied to conjoint choice data and are shown to have markedly superior performance to independent Poisson race models and to the multinomial logit model.
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