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A Comparative Empirical Study on Common Methods for Measuring Preferences

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Author Info

  • 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.

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Bibliographic Info

Paper provided by Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät in its series Jenaer Schriften zur Wirtschaftswissenschaft with number 20/2004.

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Date of creation: Oct 2004
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Publication status: Published as "A comparative empirical study on common methods for measuring preferences" in: International Journal of Management and Decision Making, Vol. 9, Nr. 3, 2008, S. 242-265.
Handle: RePEc:jen:jenasw:2004-20

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Related research

Keywords: Preference Measurement; Conjoint Analysis; Analytic Hierarchy Process; Applicability Measures; Internal Validity; Predictive Validity; Convergent Validity;

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References

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  1. Roland Helm, 2004. "Export Market Entry Strategy and Success: Conceptual Framework and Empirical Examination," Jenaer Schriften zur Wirtschaftswissenschaft 06/2004, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
  2. Green, Paul E, 1974. " On the Design of Choice Experiments Involving Multifactor Alternatives," Journal of Consumer Research, University of Chicago Press, vol. 1(2), pages 61-68, Se.
  3. Roland Helm & Laura Manthey & Armin Scholl & Michael Steiner, 2003. "Empirical Evaluation of Preference Elicitation Techniques from Marketing and Decision Analysis," Jenaer Schriften zur Wirtschaftswissenschaft 02/2003, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
  4. Scholl, Armin & Manthey, Laura & Helm, Roland & Steiner, Michael, 2005. "Solving multiattribute design problems with analytic hierarchy process and conjoint analysis: An empirical comparison," European Journal of Operational Research, Elsevier, vol. 164(3), pages 760-777, August.
  5. Uwe Cantner & Werner Gueth & Andreas Nicklisch & Torsten Weiland, 2003. "Competition in Innovation and Imitation - A Theoretical and Experimental Study -," Papers on Strategic Interaction 2004-02, Max Planck Institute of Economics, Strategic Interaction Group.
  6. Vargas, Luis G., 1990. "An overview of the analytic hierarchy process and its applications," European Journal of Operational Research, Elsevier, vol. 48(1), pages 2-8, September.
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Cited by:
  1. Markus Pasche, 2004. "Voluntary Commitment to Environmental Protection: A Bounded Rationality Approach," Jenaer Schriften zur Wirtschaftswissenschaft 22/2004, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
  2. Reinhard Haupt & Karsten Jahn & Marcus Lange & Wolfgang Ziegler, 2004. "Der Patentlebenszyklus: Methodische L�sungsans�tze der externen Technologieanalyse," Jenaer Schriften zur Wirtschaftswissenschaft 24/2004, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
  3. Werner Jammernegg & Peter Kischka, 2004. "Performance Measurement for Inventory Models with Risk Preferences," Jenaer Schriften zur Wirtschaftswissenschaft 26/2004, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
  4. Andreas Freytag & Donato Masciandaro, 2005. "Financial Supervision Fragmentation and Central Bank Independence: The Two Sides of the Same Coin?," Jenaer Schriften zur Wirtschaftswissenschaft 14/2005, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
  5. Uwe Cantner & Kristina Dre�ler & Jens J. Kr�ger, 2005. "Knowledge Compensation in the German Automobile Industry," Jenaer Schriften zur Wirtschaftswissenschaft 11/2005, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
  6. Andreas Freytag & Simon Renaud, 2004. "Langfristorientierung in der Arbeitsmarktpolitik," Jenaer Schriften zur Wirtschaftswissenschaft 23/2004, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
  7. Werner Jammernegg & Peter Kischka, 2005. "A Decision Rule Based on the Conditional Value at Risk," Jenaer Schriften zur Wirtschaftswissenschaft 09/2005, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.

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