Some probabilistic models of best, worst, and best–worst choices

Marley, A. A. J.; Louviere, Jordan J.

doi:10.1016/j.jmp.2005.05.003

Cited by 511 publications

(428 citation statements)

References 14 publications

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“…In the first specification, the data were fitted to a multinomial logit likelihood function using only the best and worst choices of each respondent [42]. In this specification, the 'best' alternative is chosen from all eight scenarios, but the 'worst' alternative is chosen from the seven remaining alternatives (i.e.…”

Section: Methodsmentioning

confidence: 99%

The marginal willingness-to-pay for attributes of a hypothetical HIV vaccine

Cameron

Newman

Roungprakhon

et al. 2013

Vaccine

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This paper estimates the marginal willingness-to-pay for attributes of a hypothetical HIV vaccine using discrete choice modeling.We use primary data from 326 respondents from Bangkok and Chiang Mai, Thailand, in 2008-2009, selected using purposive, venue-based sampling across two strata. Participants completed a structured questionnaire and full rank discrete choice modelling task administered using computer-assisted personal interviewing. The choice experiment was used to rank eight hypothetical HIV vaccine scenarios, with each scenario comprising seven attributes (including cost) each of which had two levels. The data were analyzed in two alternative specifications: (1) best-worst; and (2) full-rank, using logit likelihood functions estimated with custom routines in Gauss matrix programming language.In the full-rank specification, all vaccine attributes are significant predictors of probability of vaccine choice. The biomedical attributes of the hypothetical HIV vaccine (efficacy, absence of VISP, absence of side effects, and duration of effect) are the most important attributes for HIV vaccine choice. On average respondents are more than twice as likely to accept a vaccine with 99% efficacy, than a vaccine with 50% efficacy. This translates to a willingness to pay US$383 more for a high efficacy vaccine compared with the low efficacy vaccine.Knowledge of the relative importance of determinants of HIV vaccine acceptability is important to ensure the success of future vaccination programs. Future acceptability studies of hypothetical HIV vaccines should use more finely-grained biomedical attributes, and could also improve the external validity of results by including more levels of the cost attribute.

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Section: Methodsmentioning

confidence: 99%

The marginal willingness-to-pay for attributes of a hypothetical HIV vaccine

Cameron

Newman

Roungprakhon

et al. 2013

Vaccine

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“…Otra forma de analizar la importancia de los atributos es por medio de la raíz cuadrada de la división (B/W). Este coeficiente mide la probabilidad de elección respecto al atributo más importante con 100% (Auger, Devinney, & Louviere, 2007;Flynn et al, 2007;Lee et al, 2008;Marley & Louviere, 2005). Además, si el atributo más importante se convierte en 100, se pueden estandarizar los datos (Jaeger, Danaher, & Brodie, 2009;Jaeger, Jørgensen, Aaslyng, & Bredie, 2008).…”

Section: Análisis De Los Datosunclassified

Las Preferencias Del Consumidor Usando El Método De Máximas Diferencias

Farías

Fistrovic

2016

Rev. adm. empres.

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LAS PREFERENCIAS DEL CONSUMIDOR USANDO EL MÉTODO DE MÁXIMAS DIFERENCIAS As preferências do consumidor aplicando o método de máximas diferençasConsumer preferences using the maximum difference method RESUMENEste estudio tiene como objetivo identificar los atributos más importantes que el consumidor limeño utiliza en el proceso de elección del vino. Adicionalmente, se busca identificar diferencias entre segmentos en estas preferencias. La metodología consiste en una encuesta a consumidores de vino usando el método de máximas diferencias. El estudio es único en América Latina, donde existe una brecha importante en el mercado del vino y donde el método de máximas diferencias es inexplorado por administradores e investigadores. Los resultados muestran que los atributos más importantes se relacionan con la experiencia previa del consumidor con el vino, el maridaje y las recomendaciones. Este artículo presenta las implicancias para los administradores sobre sus estrategias de marketing a nivel de Lima, generaciones etarias, estratos socioeconómicos y género.PALABRAS CLAVE | Consumidor de vino, método de máximas diferencias, preferencias, importancia de los atributos, desarrollo de nuevos produtos. RESUMO O estudo tem como objetivo identificar os atributos mais importantes utilizados pelo consumidor limenho no processo de escolha de vinhos. Além disso, busca-se identificar diferenças entre segmentos nestas preferências. A metodologia consiste em um levantamento dos consumidores de vinho por meio do método de diferenças máximas. O estudo é único na América Latina, onde existe uma importante lacuna no mercado de vinho e onde o método de máximas diferenças é inexplorado pelos empresários e acadêmicos. Os resultados mostram que os atributos mais importantes estão relacionados à experiência prévia consumidor com vinhos e às recomendações. O artigo apresenta as implicações aos empresários para suas estratégias de marketing no âmbito de Lima, gerações etárias, estratos socioeconômicos e gênero. PALAVRAS-CHAVE | Consumidor de vinho, método de máximas diferenças, preferências, importância dos atributos, desenvolvimento de novos produtos. ABSTRACT This study aims to identify the most important attributes employed by consumers in Lima in RAE-Revista de Administração de Empresas | FGV/EAESP

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“…29 A less burdensome version of ranking extracts more information than the SMC (but less than RANKING) by asking for both the most and the least preferred out of k alternatives. This elicitation technique is known as the best-worst choice (BWCHOICE) question (Marley and Louviere 2005). If there are three alternatives, this format gives a complete ordering of the alternatives and use of BWCHOICE dramatically increases the number of implied binary comparisons (which convey the information content of the response) when k ≥ 3.…”

Section: Discrete Choice Experimentsmentioning

confidence: 99%

“…29 Arguments that respondents evaluate ranking tasks differently are examined by Bateman et al (2007). 30 There are a number of other variants of the best-worst approach (Marley and Louviere 2005;Flynn et al 2007;Marley et al 2008) whereby instead of indicats the best and worst choices, one indicates the best and worst attribute levels in an alternative. That is, the choice set consists of all the attribute levels in a profile and respondents choose the best and worst levels, such as the most and least attractive levels.…”

Section: Sequential Versions Of Dcesmentioning

confidence: 99%

A Common Nomenclature for Stated Preference Elicitation Approaches

Carson

Louviere

2011

Environ Resource Econ

215

143

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It is often difficult to determine what actually was done in work involving data collected with stated preference surveys because the terms used to describe various procedures have ambiguous and sometimes conflicting meanings. Further, terms used to describe data collection procedures often are confounded with terms used to describe statistical techniques. We call for the use of a common nomenclature to describe what was done in a data collection effort for stated preference studies, and take a first step at setting out such nomenclature. We only seek to improve clarity in the communication of research results and take no position here on appropriateness of particular procedures.

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Some probabilistic models of best, worst, and best–worst choices

Cited by 511 publications

References 14 publications

The marginal willingness-to-pay for attributes of a hypothetical HIV vaccine

The marginal willingness-to-pay for attributes of a hypothetical HIV vaccine

Las Preferencias Del Consumidor Usando El Método De Máximas Diferencias

A Common Nomenclature for Stated Preference Elicitation Approaches

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