Dissecting preference heterogeneity in consumer stated choices

Dissecting preference heterogeneity in consumer stated choices

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Article ID: iaor201110109
Volume: 48
Issue: 1
Start Page Number: 331
End Page Number: 339
Publication Date: Jan 2012
Journal: Transportation Research Part E
Authors: ,
Keywords: consumer choice, choice models
Abstract:

This paper investigates alternative methods to account for preference heterogeneity in choice experiments. Heterogeneity can be explained by assuming its influence to impact the systematic component of utility, the stochastic one or both. Seven different models were estimated to search for heterogeneity along the three dimensions described. The comparison based on model performance and willingness to pay measures shows that methods to search for heterogeneity are not independent one from the other and might produce substantially different results giving rise to different policy implications.

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