Goodbye and good luck!

Pemodelan Pilihan untuk Pemasaran di R

Elea McDonnell Feit

Assistant Professor of Marketing, Drexel University

Choices in building models

Which attributes to include
Treating numeric attributes as factors
Interactions between attributes
Interactions between attributes and decision-maker characteristics
Hierarchical models
Correlations between coefficients

Other choice model features

Distributions of random coefficients
Probit models
Nested logit
Bayesian choice models (using the bayesm package or Stan)

Advice for building models

Always start by computing choice counts to summarize the data
Build up from simple models to more complex
If estimated parameters have very large standard errors, then you've probably added too much model complexity. Back up to a simpler model.
For models describing human behavior, heterogeneity is usually a good idea

Go fit some choice models!

Pemodelan Pilihan untuk Pemasaran di R

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