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| Author: | Moore, W. L. Gray-Lee, J. Louviere, J. J. |
| Title: | A cross-validity comparison of conjoint analysis and choice models at different levels of aggregation |
| Journal: | Marketing Letters
1998 : APR, VOL. 9:2, p. 195-207 |
| Index terms: | CONJOINT ANALYSIS CHOICE THEORY MODELS |
| Language: | eng |
| Abstract: | A plenty of (ratings-based) conjoint analysis and experimental choice (choice-based conjoint) models are compared on their ability to predict both aggregate choice shares among the sample and individual choices in an availability validation task. While there was a weak relationship btw. validations at the individual and aggregate levels, several models stand out. In general, models capturing individual differences validated well at both the individual and aggregate level. The hierarchical Bayes choice and conjoint models validated particularly well. Among choice models, the hierarchical Bayes choice model had the highest aggregate and individual level-validations. It was followed by the hybrid and seven segment latent segment choice models. The seven segment latent segment conjoint model produced better aggregate choice share validations than any other conjoint model. These results indicate that validations can be improved either by using benefit segment models and/or merging different types of data to estimate more individualized models. In most cases, rescaling improved the ratings-based, but not the choice-based choice share validations. This suggests that one might adjust for differences btw. ratings and choice tasks before making choice share predictions. |
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