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Bayesian confirmatory analysis of multiple response data

Authors: Mauricio Ferreira; Peter Congdon; Yancy Edwards;

Bayesian confirmatory analysis of multiple response data

Abstract

This paper proposes a Bayesian confirmatory factor-analytic probit model to reveal the latent utility structure of multiple response data commonly found in marketing surveys. It conditions model formulation on previous knowledge and imposes a parsimonious hierarchical structure involving a measurement model (to define common factors) and a structural model to explain brand choice. The confirmatory model offers some advantages over exploratory models applied to multiple response survey data. First, the model improves model identification and prediction by imposing a simpler structure that accounts for data dependencies without assuming a multivariate distribution. Secondly, using MCMC estimation, the model can easily accommodate many underlying dimensions (J) in the data, which has been challenging to address with other approaches. Lastly, the confirmatory approach offers a practical framework where the analyst has control over the specification of the latent structure of the data via informative priors. This study uniquely applies the model to test and ‘confirm’ previous knowledge and managerial hypotheses about market structures, and how brands are related and compete with one another. The study applies a fully Bayesian estimation and model choice strategy and includes a cross-validatory demarcation between test and validation sub-samples.

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
Average
Average
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