Stated Choice Methods: Analysis and Applications
Cambridge University Press, Sep 28, 2000 - Business & Economics - 402 pages
Understanding and predicting the behavior of decision makers when choosing among discrete goods has been one of the most fruitful areas of applied research over the past thirty years. An understanding of individual consumer behavior can lead to significant changes in product or service design, pricing strategy, distribution channel and communication strategy selection, as well as public welfare analysis. This book is a reference work dealing with the study and prediction of consumer choice behavior, concentrating on stated preference (SP) methods. It shows how SP methods can be implemented, from experimental design to econometric modeling. The book also presents an update of econometric approaches to choice modeling.
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allow alternatives analysis applications approach associated assume assumption attributes behaviour brand chapter characteristics choice model choice set choose codes combinations compared complex components consider constant consumers cost data sources decision defined derived discussed distribution effects elasticities equal equation error estimated example expression factorial fare figure follows fraction function given hence important increase independent individual interactions interest involves levels log likelihood logit main effects marginal mean measures methods MNL model mode nested Note observed obtain options orthogonal parameters particular population possible prediction preference present probability problem profiles random relative represents requires response sample scale scale parameters segments share significant SP data specification statistical structure suggests task train transport trip unobserved utility utility parameters variable variance vector
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