Are results from non-hypothetical choice-based conjoint analysis and non-hypothetical recoded-ranking conjoint analyses similar?

F Akaichi, RM Nayga, JM Gil

Research output: Contribution to journalArticle

18 Citations (Scopus)

Abstract

Conflicting findings have been found in previous research that compared choice-based conjoint analysis and ranking conjoint analysis in a public good setting. The present paper revisits this issue for a private good in a non-hypothetical context using small and large choice sets. Our results suggest that in a small choice set setting, participants’ preferences and willingness to pay are similar across the two conjoint analysis formats. However, in large choice sets, a divergence between the two conjoint analysis formats emerges. Hence, the two conjoint analysis formats can only be used interchangeably in small choice sets, not in large choice sets.
Original languageEnglish
Pages (from-to)1 - 15
Number of pages15
JournalAmerican Journal of Agricultural Economics
Volume95
Issue number4
Early online date23 May 2013
DOIs
Publication statusPrint publication - Jul 2013

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Ranking
Choice-based conjoint analysis
Choice sets
Conjoint analysis
Willingness-to-pay
Divergence

Keywords

  • Conjoint analysis
  • Non-hypothetical settings
  • Small and large choice sets

Cite this

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title = "Are results from non-hypothetical choice-based conjoint analysis and non-hypothetical recoded-ranking conjoint analyses similar?",
abstract = "Conflicting findings have been found in previous research that compared choice-based conjoint analysis and ranking conjoint analysis in a public good setting. The present paper revisits this issue for a private good in a non-hypothetical context using small and large choice sets. Our results suggest that in a small choice set setting, participants’ preferences and willingness to pay are similar across the two conjoint analysis formats. However, in large choice sets, a divergence between the two conjoint analysis formats emerges. Hence, the two conjoint analysis formats can only be used interchangeably in small choice sets, not in large choice sets.",
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AB - Conflicting findings have been found in previous research that compared choice-based conjoint analysis and ranking conjoint analysis in a public good setting. The present paper revisits this issue for a private good in a non-hypothetical context using small and large choice sets. Our results suggest that in a small choice set setting, participants’ preferences and willingness to pay are similar across the two conjoint analysis formats. However, in large choice sets, a divergence between the two conjoint analysis formats emerges. Hence, the two conjoint analysis formats can only be used interchangeably in small choice sets, not in large choice sets.

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