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| Author: | Allenby, G. Rossi, P. |
| Title: | A marginal-predictive approach to identifying household parameters |
| Journal: | Marketing Letters
1993 : JUL, VOL. 4:3, p. 227-239 |
| Index terms: | MARKETING PANEL DATA DISTRIBUTION |
| Language: | eng |
| Abstract: | Estimation of household parameters in scanner panel data requires the introduction of prior information. Traditionally, prior information is incorporated by restricting parameters to be constant across households or by specifying a random coefficient distribution. An alternative solution is to incorporate stochastic prior information in a formal Bayesian approach. In standard Bayesian analysis, a prior distribution over the model parameters is specified and combined with the household likelihood to obtain the Bayes estimates. |
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