This study assesses the comparability of discrete choice experiment, ranking conjoint analysis, and multi-profile best worst scaling in a non-hypothetical context in terms of estimated partworths, willingness to pay, response consistency, and external validity. Overall, the results suggest that (1) the conjoint analysis formats that were used in this study provide similar estimated WTP, but different estimated partworths and computed external validity, (2) the inclusion of the full ranking information in the estimation of the parameters of interest affects the estimated partworths, but not the estimated willingness to pay, and (3) it is more appropriate to use multi-profile best worst scaling over discrete choice experiment and ranking conjoint analysis because it has better predictive power of consumers’ preferences and provides estimated willingness to pay comparable to those obtained in the others conjoint analysis formats. The best worst scaling’ cognitive process could be considered clearness for participants implying significant increment of it predictive power.
|Publication status||Print publication - 2014|
|Event||Congress of the European Association of Agricultural Economists - Ljubljana, Slovenia|
Duration: 26 Aug 2014 → 29 Aug 2014
|Conference||Congress of the European Association of Agricultural Economists|
|Period||26/08/14 → 29/08/14|