Reconsidering optimal experimental design for conjoint analysis

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Show simple item record Esteban-Bravo, Mercedes Leszkiewicz, Agata Vidal-Sanz, Jose M.
dc.contributor.editor Universidad Carlos III de Madrid. Departamento de Economía de la Empresa 2012-11-28T12:45:05Z 2012-11-28T12:45:05Z 2012-11
dc.description.abstract The 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.sponsorship Research 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.mimetype application/pdf
dc.format.mimetype text/plain
dc.language.iso eng
dc.relation.ispartofseries UC3M Working papers. Business Economics
dc.relation.ispartofseries 12-05
dc.rights Atribución-NoComercial-SinDerivadas 3.0 España
dc.subject.other Conjoint Analysis
dc.subject.other Optimal experimental designs
dc.subject.other Optimization
dc.title Reconsidering optimal experimental design for conjoint analysis
dc.type workingPaper
dc.subject.eciencia Empresa
dc.rights.accessRights openAccess
dc.relation.projectID Gobierno de España. ECO2011-30198
dc.type.version submitedVersion
dc.identifier.uxxi DT/0000000930
dc.identifier.repec wb121405
dc.affiliation.dpto UC3M. Departamento de Economía de la Empresa
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