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Synopsis
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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Book Description
This guide to analysing consumer choice behaviour concentrates on stated preference (SP) methods--placing decision makers in controlled experiments that yield hypothetical choices--rather than revealed preferences (RP)--actual choices in the market. The authors show how SP methods can be implemented, from experimental design to econometric modelling of choice, and combined with RP data to get the best from each type. The book also presents an update of econometric approaches to choice modelling. Central to welfare economics, econometrics, decision sciences, marketing, transport planning, environmental evaluation, geography, statistics.
About the Author
Jordan J. Louviere is Research Professor at the School of Marketing, University of South Australia Business School. He is particularly known for pioneering work in the design and application of discrete choice experiments (also called 'choice-based conjoint') and he also pioneered best-worst scaling (also known as 'Max-Diff Scaling'). He is co-author of Stated Choice Methods: Analysis and Application (Cambridge University Press, 2000).
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Stated Choice Methods: Analysis and Applications
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