ERIC Number: EJ796575
Record Type: Journal
Publication Date: 2008-Jun
The Dependent Poisson Race Model and Modeling Dependence in Conjoint Choice Experiments
Ruan, Shiling; MacEachern, Steven N.; Otter, Thomas; Dean, Angela M.
Psychometrika, v73 n2 p261-288 Jun 2008
Conjoint choice experiments are used widely in marketing to study consumer preferences amongst alternative products. We develop a class of choice models, belonging to the class of Poisson race models, that describe a "random utility" which lends itself to a process-based description of choice. The models incorporate a dependence structure which captures the relationship between the attributes of the choice alternatives and which appropriately moderates the randomness inherent in the race. The new models are applied to conjoint choice data and are shown to have performance markedly superior to that of independent Poisson race models and of the multinomial logit model.
Descriptors: Statistical Analysis, Probability, Mathematical Models, Computation, Decision Making, Experiments
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Publication Type: Journal Articles; Reports - Research
Education Level: N/A
Authoring Institution: N/A