There are two main categories of choice model: Hierarchical Bayes and latent class. Within these categories, models are further specified by other parameters such as the number of classes. We frequently want to experiment with a variety of different models in order to find the most accurate. This article describes how to create a table comparing choice models, such as the table below.
And add an ensemble model to the comparison:
For a more in-depth discussion on this process, see our blog post: Comparing Choice Models and Creating Ensembles.
- Two or more conjoint/discrete choice models created in Displayr, see How to do the Statistical Analysis of Choice-Based Conjoint Data.
1. From the toolbar menu, select Anything > Advanced Analysis > Choice Modeling > Compare Models.
2. From the object inspector, select the different choice models from the Input models drop-down box.
3. Click the Calculate button to generate the comparison table.
4. [Optional]: Check the Ensemble checkbox to add an ensemble model based on the combined input model. See our blog post: Comparing Choice Models and Creating Ensembles on how this is calculated.
5. [Optional]: Change the Output drop-down to Ensemble to generate an ensemble conjoint model based on the combined input models.