Bayesian econometric methods are particularly well suited for analysis of marketing data. Bayes theorem provides exact, small-sample inference within a flexible framework for assessing particular parameters and functions of parameters. We first review the basics of Bayesian analysis and examine three areas where Bayesian methods have contributed to marketing analytics – models of choice, heterogeneity, and decision theory. We conclude with a discussion of limitations and common errors in the application of Bayes theorem to marketing analytics.
Greg M. Allenby and Peter E. Rossi
John R. Howell, Greg M. Allenby and Peter E. Rossi
This chapter discusses the use of conjoint analysis in litigation. The author summarizes key court decisions and motivates the use of conjoint analysis as a method of proof in specific litigation settings. The chapter then describes the basic elements of conjoint analysis and addresses several tactical considerations in using conjoint analysis. The specific use of conjoint analysis in a variety of litigation contexts is then summarized, including an extended summary of the use of conjoint analysis in a landmark smartphone dispute.