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Reconsidering optimal experimental design for conjoint analysis

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dc.affiliation.dptoUC3M. Departamento de Economía de la Empresaes
dc.contributor.authorEsteban-Bravo, Mercedes
dc.contributor.authorLeszkiewicz, Agata
dc.contributor.authorVidal-Sanz, Jose M.
dc.contributor.editorUniversidad Carlos III de Madrid. Departamento de Economía de la Empresa
dc.date.accessioned2012-11-28T12:45:05Z
dc.date.available2012-11-28T12:45:05Z
dc.date.issued2012-11
dc.description.abstractThe quality of Conjoint Analysis estimations heavily depends on the alternatives presented in the experiment. An efficient selection of the experiment design matrix allows more information to be elicited about consumer preferences from a small number of questions, thus reducing experimental cost and respondent's fatigue. The statistical literature considers optimal design algorithms (Kiefer, 1959), and typically selects the same combination of stimuli more than once. However in the context of conjoint analysis, replications do not make sense for individual respondents. In this paper we present a general approach to compute optimal designs for conjoint experiments in a variety of scenarios and methodologies: continuous, discrete and mixed attributes types, customer panels with random effects, and quantile regression models. We do not compute good designs, but the best ones according to the size (determinant or trace) of the information matrix of the associated estimators without repeating profiles as in Kiefer's methodology. We handle efficient optimization algorithms to achieve our goal, avoiding the use of widespread ad-hoc intuitive rules.
dc.description.sponsorshipResearch funded by two research projects, S-0505/TIC-0230 by the Comunidad de Madrid and ECO2011-30198 by MICINN agency of Spanish Government
dc.format.mimetypeapplication/pdf
dc.format.mimetypetext/plain
dc.identifier.repecwb121405
dc.identifier.urihttps://hdl.handle.net/10016/14548
dc.identifier.uxxiDT/0000000930
dc.language.isoeng
dc.relation.ispartofseriesUC3M Working papers. Business Economics
dc.relation.ispartofseries12-05
dc.relation.projectIDGobierno de España. ECO2011-30198
dc.rightsAtribución-NoComercial-SinDerivadas 3.0 España
dc.rights.accessRightsopen access
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.subject.ecienciaEmpresa
dc.subject.otherConjoint Analysis
dc.subject.otherOptimal experimental designs
dc.subject.otherOptimization
dc.titleReconsidering optimal experimental design for conjoint analysis
dc.typeworking paper*
dc.type.hasVersionSMUR*
dspace.entity.typePublication
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