Looks very very interesting. Thanks!
A question I have about choice models (not sure this is the right forum (or thread) to ask) is what happens when things can sell out. To be more specific: popular choices sell out. Suppose customers can chose between 10 different variants. Variants 1 and 2 are the most popular. But because most people prefer them, they’re sold out soon. So they will only be part of a few experiments. What impact does that have?
As a toy example: there are 10 variants, and the shop has only 5 of each. Variant 1 is the most popular, then variant 2. The other 8 are equally popular. If there is no error term, and all participants have the same preference, then the first 5 participants will buy variant 1, then 5 participants will buy variant 2 and then 40 participants will buy one of the other variants. So variant 1 only participates in 5 out of the 50 experiments, variant 2 only participates in 10 out of 50 experiments, and the other variants will participate in all 50 experiments. What impact does that have on the chance of knowing if 1 and 2 are the most popular? And what if there’s a bit of error.
Thanks in advance!