What is Hierarchical Bayes

Hierarchical Bayes models are actually the combination of two things: 1) a model written in hierarchical form that is 2) estimated using Bayesian methods. Its high-demanding in computing resource prevents its practice. Fortunately, this status is turning better upon the introduction of MCMC sampling technique.

Two new terms met recently

"Conjoint Analysis" and "Hierarchical Bayes" are the two I never heard of till very recently. Both of them appear in marketing research community. Looks interesting topics, so I will pay attention on them before I can figure out more with you.