"...a form of bootstrap sampling to boost your rare event cases higher for development purposes "
Have you considered adaptive methods (e.g Gradient Boosting aka Salford System's "Tree Net")?
Hi Yi-Chun,
Yes, it's pretty much that simple, and makes that much sense. I'd say Greene's "Econometrics" is a good place to start, and if you really want a deep dive then Maddala's book. You might just search on "Heckit" or "Heckman" and "Model"...
Yi-Chun's response is a fairly common approach (and a good description).
The problem is that it assumes that the amount of the sale is independent of the probability of responding to the advertisement.
If this assumption doesn't make sense then ...
"I think there is a way to build Boosted Trees in R, but I'm not 100% sure."
Grerg Ridgeway contributed "GBM" to cRan.
But as I said above, if you only have a limited set of discrete covariate patterns, I don't think Boosting or bagging does any...
Thanks a lot, Mark for the great information you shared on my wall about emerging issues. I do appreciate. I'll provide some feedback as soon as possible.
Cheers,
Thanks for pointing that book by Soumen Chakrabarti "Mining the Web" good intro into Web and HTTP basics, and I am looking forward studying a little bit harder statistical techniques applied to web data.