Published evidence of the validity of conjoint analysis techniques has been sparse, rarely based on data collected for any real marketing purpose, and consisting mainly of unrealistically small simulation experiments (three to six attributes). This paper describes a successful validation of Sawtooth Software's Adaptive Conjoint Analysis (ACA) via independent concept testing. Across four differe...

Of twenty-three agricultural economics conjoint analyses conducted between 1990 and 2001, seventeen used interval-rating scales, with estimation procedures varying widely. This study tests cardinality assumptions in conjoint analysis when interval-rating scales are used, and tests whether the ordered probit or two-limit tobit model is the most valid. Results indicate that cardinality assumption...

Validation issues have received little attention by agent-based modelers in marketing research. In this paper we provide a definition of validation relevant for this community of modelers. Using the foundation of a history-friendly model for simulation calibration (Malerba, et al., 1999), we demonstrate how conjoint analyses can be used to instantiate and calibrate an agent-based marketing mode...

This paper studies conjoint measurement models tolerating intransitivities that closely resemble Tversky’s additive difference model while replacing additivity and subtractivity by mere decomposability requirements. We offer a complete axiomatic characterization of these models without having recourse to unnecessary structural assumptions on the set of objects. This shows the pure consequences ...

This paper studies strict preference relations on product sets induced by “ordinal aggregation methods”. Such methods are interpreted here as performing paired comparisons of alternatives based on the “importance” of attributes favoring each element of the pair: alternative x will be preferred to alternative y if the attributes for which x is better than y are “more important” than the attribut...

This paper investigates the adequacy of the hierarchical Bayes (HB) model for rankbased conjoint data. While recent research has demonstrated the robustness of the HB model compared to traditional estimation methods for rank based conjoint models, we conduct an indepth analysis of the underlying reasons of these findings. Hereby we investigate the fundamental assumptions of rank based conjoint ...

Consumer reservation price is a key concept in marketing and economics. Theoretically, this concept has been instrumental in studying consumer purchase decisions, competitive pricing strategies, and welfare economics. Managerially, knowledge of consumer reservation prices is critical for implementing many pricing tactics such as bundling, target promotions, nonlinear pricing, and one-to-one pri...

We suggest using D-efficient experimental designs for conjoint and discrete-choice studies, and discuss orthogonal arrays, nonorthogonal designs, relative efficiency, and nonorthogonal design algorithms. We construct designs for a choice study with asymmetry and interactions and for a conjoint study with blocks and aggregate interactions.∗

Most outranking methods build a preference relation between alternatives evaluated on several attributes using the concordance / non-discordance principle. This principle leads to declaring that an alternative is “superior” to another, if the coalition of attributes supporting this proposition is “sufficiently important” (concordance condition) and if there is no attribute that “strongly reject...