Using Hierarchical Bayes draws for improving shares of choice predictions in conjoint simulations: A study based on conjoint choice data

Hein, M., Goeken, N., Kurz, P., Steiner, W., 2021 – European Journal of Operational Research, 2021

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How can HB draws improve the accuracy of share-of-choice predictions in conjoint simulations?

By incorporating the distribution of individual preferences across multiple draws, simulations yield more realistic and accurate share-of-choice forecasts.