Hierarchical Bayes Conjoint Choice Models – Model Framework, Bayesian Inference, Model Selection, and Interpretation of Estimation Results

Goeken, N., Kurz, P., Steiner, W., 2021 – in Marketing ZFP Volume 43, 2021, 49-64.

How do Hierarchical Bayes Conjoint Choice Models work, and how can their results be interpreted?

The paper outlines the structure, Bayesian inference process, and interpretation of HB models. It shows how individual-level preferences are estimated and how different models can be compared.