Estimating Product-Level Price Elasticities Using Hierarchical Bayesian
In this article, I will introduce you to hierarchical Bayesian (HB) modelling, a flexible approach to automatically combine the results of multiple sub-models. This method enables estimation of individual-level effects by optimally combining information across different groupings of data through Bayesian updating. This is particularly valuable when individual units have limited observations but share common …
Estimating Product-Level Price Elasticities Using Hierarchical Bayesian Read More »










