Publication
Title
Obtaining more information from conjoint experiments by best-worst choices
Author
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.
Language
English
Source (journal)
Computational statistics and data analysis. - Amsterdam
Publication
Amsterdam : 2010
ISSN
0167-9473
Volume/pages
54:6(2010), p. 1426-1433
ISI
000276534500002
Full text (Publisher's DOI)
UAntwerpen
Faculty/Department
Research group
Publication type
Subject
Affiliation
Publications with a UAntwerp address
External links
Web of Science
Record
Identification
Creation 05.03.2010
Last edited 12.07.2017
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