Title
Obtaining more information from conjoint experiments by best-worst choices Obtaining more information from conjoint experiments by best-worst choices
Author
Faculty/Department
Faculty of Applied Economics
Publication type
article
Publication
Amsterdam ,
Subject
Computer. Automation
Source (journal)
Computational statistics and data analysis. - Amsterdam
Volume/pages
54(2010) :6 , p. 1426-1433
ISSN
0167-9473
ISI
000276534500002
Carrier
E
Target language
English (eng)
Full text (Publishers DOI)
Affiliation
University of Antwerp
Abstract
Conjoint choice experiments elicit individuals' preferences for the attributes of a good by asking respondents to indicate repeatedly their most preferred alternative in a number of choice sets. However, conjoint choice experiments can be used to obtain more information than that revealed by the individuals' single best choices. A way to obtain extra informationis by means of bestworst choice experiments in which respondents are asked to indicate not only their most preferred alternative but also their least preferred one in each choice set. To create D-optimal designs for these experiments, an expression for the Fisher information matrix for the maximum-difference model is developed. Semi-Bayesian D-optimal bestworst choice designs are derived and compared with commonly used design strategies in marketing in terms of the D-optimality criterion and prediction accuracy. Finally,it is shown that bestworst choice experiments yield considerably more information than choice experiments.
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