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Analysis of Cardinal and Ordinal Assumptions in Conjoint Analysis

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Author Info

  • Harrison, R. Wes
  • Gillespie, Jeffrey M.
  • Fields, Deacue

Abstract

Of twenty-three agricultural economics conjoint analyses conducted between 1990 and 2001, seventeen used interval-rating scales, with estimation procedures varying widely. This study tests cardinality assumptions in conjoint analysis when interval-rating scales are used, and tests whether the ordered probit or two-limit tobit model is the most valid. Results indicate that cardinality assumptions are invalid, but estimates of the underlying utility scale for the two models do not differ. Thus, while the ordered probit model is theoretically more appealing, the two-limit tobit model may be more useful in practice, especially in cases with limited degrees of freedom, such as with individual-level conjoint models.

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File URL: http://purl.umn.edu/10238
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Bibliographic Info

Article provided by Northeastern Agricultural and Resource Economics Association in its journal Agricultural and Resource Economics Review.

Volume (Year): 34 (2005)
Issue (Month): 2 (October)
Pages:

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Handle: RePEc:ags:arerjl:10238

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Web page: http://www.narea.org/
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Related research

Keywords: ordered probit; two-limit probit; conjoint analysis; cardinality; Research Methods/ Statistical Methods;

References

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  1. Halbrendt, Catherine K. & Wirth, Ferdinand F. & Vaughn, Gerald F., 1991. "Conjoint Analysis Of The Mid-Atlantic Food-Fish Market For Farm-Raised Hybrid Striped Bass," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 23(01), July.
  2. van Praag, Bernard M. S., 1991. "Ordinal and cardinal utility : An integration of the two dimensions of the welfare concept," Journal of Econometrics, Elsevier, vol. 50(1-2), pages 69-89, October.
  3. Harrison, R. Wes & Ozayan, Aylin & Meyers, Samuel P., 1998. "A Conjoint Analysis Of New Food Products Processed From Underutilized Small Crawfish," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 30(02), December.
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  6. Gan, Christopher E.C. & Luzar, E. Jane, 1993. "A Conjoint Analysis Of Waterfowl Hunting In Louisiana," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 25(02), December.
  7. Holland, Daniel S. & Roheim, Cathy A., 1998. "Predicting Consumer Preferences For Fresh Salmon: The Influence Of Safety Inspection And Production Method Attributes," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 27(1), April.
  8. Harrison, R. Wes & Stringer, Timothy & Prinyawiwatkul, Witoon, 2002. "An Analysis of Consumer Preferences for Value-Added Seafood Products Derived from Crawfish," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 31(2), October.
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  11. Fisher, Irving, 1918. "Is "Utility" the Most Suitable Term for the Concept It is Used to Denote?," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 8, pages 335-337.
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  13. Stevens, Thomas H. & Barrett, Christopher B. & Willis, Cleve E., 1997. "Conjoint Analysis Of Groundwater Protection Programs," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 26(2), October.
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  15. Biing-Hwan Lin & Steven Payson & Jane Wertz, 1996. "Opinions of professional buyers toward organic produce: A case study of mid-Atlantic market for fresh tomatoes," Agribusiness, John Wiley & Sons, Ltd., vol. 12(1), pages 89-97.
  16. Jill E. Hobbs, 1996. "Transaction costs and slaughter cattle procurement: Processors' selection of supply channels," Agribusiness, John Wiley & Sons, Ltd., vol. 12(6), pages 509-523.
  17. Gilbert Sylvia & Sherry L. Larkin, 1995. "Firm-level Intermediate Demand for Pacific Whiting Products: A Multi-attribute, Multi-sector Analysis," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 43(3), pages 501-518, November.
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Cited by:
  1. Aguilar, Francisco X. & Vlosky, Richard P., 2007. "Consumer willingness to pay price premiums for environmentally certified wood products in the U.S," Forest Policy and Economics, Elsevier, vol. 9(8), pages 1100-1112, May.

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