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Title
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* Bayesian Methods in Marketing
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Date / Time / Room
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Sponsor
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Type
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08/12/2002
2:00 PM -
3:50 PM
Room: S-New York Ballroom B
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Business & Economics Statistics Section*, Section on Bayesian Stat. Sciences*, Section on Statistics and Marketing
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Invited
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Organizer:
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Greg M. Allenby, Ohio State University
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Chair:
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Martin S. Levy, University of Cincinnati
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Discussant:
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Floor Discussion
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3:35 PM
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Description
The session will bring together leading Bayesian practitioners and scholars in marketing. The intent is threefold: 1) to discuss current problems faced by practitioners and data that are available for solving these problems; 2) to discuss new marketing methods and models and 3) to expose researchers in marketing to new advances in Bayesian methods.
Bayesian methods are becoming increasingly popular in the academic and practitioner communities because of the recent development of simulation based methods (Markov chain Monte Carlo) of estimation. These methods allow the use of models of consumer behavior that were previously too difficult to estimate. Bayesian methods offer a means of more fully understanding issues that are central to marketing by allowing researchers to build integrated models of behavior that can be estimated with limited amounts of data. Our hope is, that by offering a forum for the exchange of ideas and problems, we can promote good statistical practice and stimulate new research that is relevant to the field of marketing.
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