Comparing results of ranking conjoint analyses, best worst scaling, and discrete choice experiments in a non-hypothetical context 

A Yangui, F Akaichi, M Costa-Font, Gil Jose Maria

Research output: Contribution to journalArticleResearchpeer-review

Abstract

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.
Original languageEnglish
Pages (from-to)221-246
Number of pages26
JournalAustralian Journal of Agricultural and Resource Economics
Volume63
Issue number2
Early online date14 Feb 2019
DOIs
Publication statusPrint publication - Apr 2019

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willingness to pay
consumer preferences
cognition
Willingness-to-pay
Conjoint analysis
Best-worst scaling
Discrete choice experiment
Ranking
Consumer Behavior
Predictive power
External validity

Keywords

  • Discrete choice experiment
  • Ranking conjoint analysis
  • Best worst scaling
  • External validity
  • Willingness to pay

Cite this

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title = "Comparing results of ranking conjoint analyses, best worst scaling, and discrete choice experiments in a non-hypothetical context ",
abstract = "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.",
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Comparing results of ranking conjoint analyses, best worst scaling, and discrete choice experiments in a non-hypothetical context . / Yangui, A; Akaichi, F; Costa-Font, M; Maria, Gil Jose.

In: Australian Journal of Agricultural and Resource Economics, Vol. 63, No. 2, 04.2019, p. 221-246.

Research output: Contribution to journalArticleResearchpeer-review

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