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Title
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Obtaining more information from conjoint experiments by best-worst choices
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Author
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Abstract
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| 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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Language
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English
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Source (journal)
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Computational statistics and data analysis / International Association for Statistical Computing. - Amsterdam, 1983, currens
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Publication
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Amsterdam
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North-Holland
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2010
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ISSN
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0167-9473
[print]
1872-7352
[online]
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DOI
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10.1016/J.CSDA.2010.01.002
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Volume/pages
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54
:6
(2010)
, p. 1426-1433
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ISI
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000276534500002
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Full text (Publisher's DOI)
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