Two New Features in Discrete Choice Experiments to Improve Willingness-to-Pay Estimation That Result in SDR and SADR: Separated (Adaptive) Dual Response

被引:21
|
作者
Schlereth, Christian [1 ]
Skiera, Bernd [2 ]
机构
[1] WHU Otto Beisheim Sch Management, Mkt & Sales Grp, Chair Digital Mkt, D-56179 Vallendar, Germany
[2] Goethe Univ Frankfurt, Dept Mkt, Fac Business & Econ, D-60323 Frankfurt, Germany
关键词
willingness to pay; discrete choice experiments; choice-based conjoint; pricing; no-purchase option; CONJOINT-ANALYSIS; SETS; PREFERENCE;
D O I
10.1287/mnsc.2015.2367
中图分类号
C93 [管理学];
学科分类号
12 ; 1201 ; 1202 ; 120202 ;
摘要
Discrete choice experiments such as choice-based conjoint and dual response are popular preference elicitation methods, yet, they can suffer from context effects, extreme response behavior, and problems with estimating consumers' willingness to pay accurately when the purchase probability is high. This study proposes two new features to avoid these limits: (a) strictly separating all forced and all free choice questions and (b) an adaptive mechanism to select fewer, but more informative, free choice questions. The use of these two features invokes two new discrete choice experiment methods: separated dual response (SDR), with just the first feature, and separated adaptive dual response (SADR), with both features. A conceptual comparison, simulation study, tests to address endogeneity concerns, and three empirical studies demonstrate the appeal of these two new features, relative to the benefits of existing discrete choice experiments, especially when estimating willingness to pay.
引用
收藏
页码:829 / 842
页数:14
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