Abstract
We develop a method for finding optimal designs in Discrete Choice Experiments (DCEs). More specifically, we deal with individualized designs, which are sequentially generated for each person undertaking a survey, using - at each stage - responses from previous choice sets in order to select the next best set. Currently the optimal design for a DCE is predicated on a specific mixed logit model which represents the probability of choosing a specific alternative in a choice set through a linear predictor combining several attributes or factors deemed to be relevant in each choice. Using a unique model represents a major limitation which we overcome by allowing for a collection of different models \r\ncharacterized by distinct linear predictors. \r\nOur approach is fully Bayesian and incorporates a prior distribution on the model space, as well as a prior on the parameter space specific to each respondent.\r\nTo perform our optimal design strategy for DCEs, we specify two distinct utility functions, one being targeted to model discrimination, while the other aims at the dual purpose of model discrimination and parameter estimation. We implement our methodology using a sequential Monte Carlo algorithm suitably tailored to account for\r\nmodel uncertainty and individual-specific parameters. \r\nTo evaluate our methodology, several simulation settings are considered in detail. Comparisons with alternative methods are also investigated.
Lingua originale | Inglese |
---|---|
pagine (da-a) | 81-96 |
Numero di pagine | 16 |
Rivista | Journal of Quality Technology |
Volume | 2020 |
Numero di pubblicazione | 52 (1) |
DOI | |
Stato di pubblicazione | Pubblicato - 2020 |
All Science Journal Classification (ASJC) codes
- Sicurezza, Rischio, Affidabilità e Qualità
- Strategia e Management
- Scienze della Gestione e Ricerca Operativa
- Ingegneria Industriale e della Produzione
Keywords
- Bayesian sequential design
- Model discrimination
- Mutual information
- Optimal design
- Sequential Monte Carlo
- Total Entropy