Bayesian Semiparametric Regression: An Exposition and Application to Print Advertising Data

A new regression-based approach is proposed for modeling marketing the analysis, the functional form of the effect of each independent variable, and the appropriate transformation for the dedatabases. The approach is Bayesian and provides a number of significant pendent variable. improvements over current methods. Independent variables can enter into This article introduces a highly flexible Bayesian regression the model in either a parametric or nonparametric manner, significant approach to the marketing literature that addresses such issues variables can be identified from a large number of potential regressors, and has the following advantages over existing approaches to and an appropriate transformation of the dependent variable can be regression. automatically selected from a discrete set of prespecified candidate trans-