Title: An efficient algorithm for constructing Bayesian optimal choice designs
Authors: Kessels, R
Jones, B
Goos, Peter
Vandebroek, Martina
Issue Date: 2006
Publisher: K.U.Leuven - Faculty of Economics and Applied Economics
Series Title: DTEW - KBI_0616 pages:1-29
Abstract: Recently, Kessels et al. (2006) developed a way to produce Bayesian G- and V-optimal designs for the multinomial logitmodel. These designs allow for precise response predictions which is the goal of conjoint choice experiments. The authors showed that the G- and V- optimality criteria outperform the D- and A-optimality criteria for prediction. However, their G- and V-optimal design algorithm is computationally intensive, which is a barrier to its use in practice. In this paper, we present an efficient algorithm for calculating Bayesian optimal designs by means of the different criteria. Particularly, the speed of computation for the V-optimality criterion has improved dramatically.The new algorithm makes it possible to use Bayesian D-, A-, G- and V-optimal designs that are tailored to individual respondents in computerized conjoint choice studies.
Publication status: published
KU Leuven publication type: IR
Appears in Collections:Research Center for Operations Research and Business Statistics (ORSTAT), Leuven

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