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A Comparative Empirical Study on Common Methods for Measuring Preferences

Author

Listed:
  • Roland Helm

    (University of Jena, Faculty of Economics)

  • Michael Steiner

    (University of Jena, Faculty of Economics)

  • Armin Scholl

    (University of Jena, Faculty of Economics)

  • Laura Manthey

    (University of Jena, Faculty of Economics)

Abstract

Literature and practice reveal that most marketing related questionnaires measuring consumer preferences rely on some kind of conjoint analysis. Recent studies show the analytic hierarchy process to be suitable for this task, too. This paper gives a comparison of the approaches and the results of former studies. Because we found considerable differences in those results, an additional study has been performed being designed such that it has potential for explaining these differences. As we found respective explanations, we finally derive general guidelines on the selection of conjoint analysis and analytic hierarchy process depending on the complexity of the problem situation and the previous knowledge respondents have in preference measurement.

Suggested Citation

  • Roland Helm & Michael Steiner & Armin Scholl & Laura Manthey, 2004. "A Comparative Empirical Study on Common Methods for Measuring Preferences," Jenaer Schriften zur Wirtschaftswissenschaft (Expired!) 20/2004, Friedrich Schiller University of Jena, School of of Economics and Business Administration.
    • Handle: RePEc:jen:jenasw:2004-20
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    Keywords

    Preference Measurement; Conjoint Analysis; Analytic Hierarchy Process; Applicability Measures; Internal Validity; Predictive Validity; Convergent Validity;
    All these keywords.

    JEL classification:

    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • C35 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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