Evgeniou, Theodoros; Pontil, Massimiliano; Toubia, Olivier - In: Marketing Science 26 (2007) 6, pp. 805-818
We propose and test a new approach for modeling consumer heterogeneity in conjoint estimation based on convex optimization and statistical machine learning. We develop methods both for metric and choice data. Like hierarchical Bayes (HB), our methods shrink individual-level partworth estimates...