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Michel Wedel

Bayesian Analysis of Variance for Consumer Research
In this presentation I review the limitations of classical hypothesis testing with ANOVA and explain the advantages of taking a Bayesian approach. I introduce R software for hierarchical Bayesian ANOVA for the analysis of experiments. BANOVA alleviates the most important limitations of classical ANOVA, by including unobserved heterogeneity and allowing for dependent variables with a variety of distributions. The software accommodates (hierarchical) mediation, moderation, moderated mediation and floodlight analyses.
Michel Wedel is the Distinguished University Professor and PepsiCo Chair in Consumer Science at the University of Maryland’s Robert H. Smith School of Business.