Beyond Conjoint Analysis: Advances in Preference Measurement

We identify gaps and propose several directions for future research in preference measurement. We structure our argument around a framework that views preference measurement as comprising three inter-related components: 1) the problem that the study is ultimately intended to address; 2) the design of the preference measurement task and the data collection approach; 3) the specification and estimation of a preference model, and the conversion into action. Conjoint analysis is only one special case within this framework. We summarize cutting edge research and identify fruitful directions for future investigations pertaining to the framework’s three components and to their integration.