Abstract Details
Activity Number:
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349
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Type:
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Contributed
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Date/Time:
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Tuesday, August 5, 2014 : 10:30 AM to 11:15 AM
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Sponsor:
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Government Statistics Section
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Abstract #314024
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Title:
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Mixed Effects Modeling in Conjoint Analysis with Multivariate Normal Responses
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Author(s):
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Tanita Cronje*+ and Frans H.J. Kanfer and Sollie Millard and Mohammad Arashi
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Companies:
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University of Pretoria and University of Pretoria and University of Pretoria and Shahrood University
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Keywords:
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Conjoint analysis ;
Multivariate normal distribution ;
Mixed effect models
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Abstract:
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In this decision-driven era, it has become vital for modelers to efficiently model consumer choices and preferences (from a marketing perspective for instance). Conjoint analysis is a known method which has been used to perform such analyses. A mixed effects model is proposed to perform a conjoint analysis with normal responses, illustrated by an application of modeling respondent's preferences to different industrial detergents. The proposed model allows for predicting how observed attributes (which describes a product in terms of its characteristics and features) of decision makers and choice options, influence decisions. Inference regarding the parameters of the proposed model with a normal distribution is discussed in the mixed effect conjoint setting. Extensions of this model, regarding Bayesian prior selection are also discussed.
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Authors who are presenting talks have a * after their name.
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