Complicated pricing studies can end up with a lot of part-worth levels of price. From recent conferences, a piecewise function that uses from 2 to 6 breakpoints (aside from the endpoints) is recommended and 12-20 breakpoints have been seen as potentially useful. We would want to investigate whether a dozen or more breakpoints is an overfit and we are better off with a more parsimonious approach. This investigation will also test if it would be best to have multiple simpler price effects. RLH, Holdout Hit Rate, and % of effects that don't need to be constrained will be used as testing criteria.
