A comparison of criteria to design efficient choice experiments

A comparison of criteria to design efficient choice experiments

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Article ID: iaor2007576
Country: United States
Volume: 43
Issue: 3
Start Page Number: 409
End Page Number: 419
Publication Date: Aug 2006
Journal: Journal of Marketing Research
Authors: , ,
Abstract:

To date, no attempt has been made to design efficient choice experiments by means of the G- and V-optimality criteria. These criteria are known to make precise response predictions, which is exactly what choice experiments aim to do. In this article, the authors elaborate on the G- and V-optimality criteria for the multinomial logit model and compare their prediction performances with those of the D- and A-optimality criteria. They make use of Bayesian design methods that integrate the optimality criteria over a prior distribution of likely parameter values. They employ a modified Fedorov algorithm to generate the optimal choice designs. They also discuss other aspects of the designs, such as level overlap, utility balance, estimation performance, and computational effectiveness.

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