Added Value through Covariates in HB Modeling

Kurz P., Binner S., 2010 – Sawtooth Software Conference – USA 2010

Can covariates improve the estimation accuracy of Hierarchical Bayes (HB) models in conjoint analysis?

Across ten CBC studies, covariates only led to significant improvements in prediction accuracy (MSE, hit rate) in a few cases. Generally, standard HB models performed just as well.