Probabilistic polyhedral methods for adaptive choice-based conjoint analysis: theory and application

Probabilistic polyhedral methods for adaptive choice-based conjoint analysis: theory and application

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Article ID: iaor20082927
Country: United States
Volume: 26
Issue: 5
Start Page Number: 596
End Page Number: 610
Publication Date: Sep 2007
Journal: Marketing Science
Authors: , ,
Abstract:

Polyhedral methods for choice-based conjoint analysis provide a means to adapt choice-based questions at the individual-respondent level and provide an alternative means to estimate partworths when there are relatively few questions per respondent, as in a Web-based questionnaire. However, these methods are deterministic and are susceptible to the propagation of response errors. They also assume, implicitly, a uniform prior on the partworths. In this paper we provide a probabilistic interpretation of polyhedral methods and propose improvements that incorporate response error and/or informative priors into individual-level question selection and estimation. Monte Carlo simulations suggest that response-error modeling and informative priors improve polyhedral question-selection methods in the domains where they were previously weak. A field experiment with over 2,200 leading-edge wine consumers in the United States, Australia, and New Zealand suggests that the new question-selection methods show promise relative to existing methods.

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