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A Review of Stated Choice Method

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  • Junyi Shen

    ()
    (Osaka School of International Public policy, Osaka University)

Abstract

This paper reviews Stated Choice Method (SCM), paying particular attentions on its theoretical background, application, empirical models, experimental design, and procedure to execute. The review suggests that comparing to other stated preference (SP) methods, SCM has a major advantage that it meets the objective of a stated preference analysis to simulate actual consumer behavior by allowing simultaneous evaluations of a number of alternatives or a choice between alternatives. Some advanced models based on the degrees of relaxation of the Independently and Identically Distributed (IID) assumption on error terms are introduced. More complex model seems to be more plausible than relatively simple specifications. Two tests for nested and non-nested models are also discussed to help judge that one model is superior to another model. Finally, this paper introduces the procedure of executing a Stated Choice (SC) experiment.

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File URL: http://www2.econ.osaka-u.ac.jp/library/global/dp/0527.pdf
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Bibliographic Info

Paper provided by Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP) in its series Discussion Papers in Economics and Business with number 05-27.

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Length: 23 pages
Date of creation: Oct 2005
Date of revision:
Handle: RePEc:osk:wpaper:0527

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Web page: http://www.econ.osaka-u.ac.jp/
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Related research

Keywords: Stated Choice Method (SCM); Stated Preference (SP) method; Independent and Identical Distribution (IID); Extreme Value type I (EV1) distribution;

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Cited by:
  1. Daniel McFadden, 2009. "The human side of mechanism design: a tribute to Leo Hurwicz and Jean-Jacque Laffont," Review of Economic Design, Springer, vol. 13(1), pages 77-100, April.
  2. Junyi Shen & Tatsuyoshi Saijo, 2007. "Does energy efficiency label alter consumersf purchase decision? A latent class approach on Shanghai data," OSIPP Discussion Paper 07E005, Osaka School of International Public Policy, Osaka University.
  3. Van Wezemael, Lynn & Caputo, Vincenzina & Nayga, Rodolfo M. & Chryssochoidis, George & Verbeke, Wim, 2014. "European consumer preferences for beef with nutrition and health claims: A multi-country investigation using discrete choice experiments," Food Policy, Elsevier, vol. 44(C), pages 167-176.
  4. Junyi Shen & On Fukui & Hiroyuki Hashimoto & Takako Nakashima & Tadashi Kimura & Kenichiro Morishige & Tatsuyoshi Saijo, 2012. "A cost-benefit analysis on the specialization in departments of obstetrics and gynecology in Japan," Health Economics Review, Springer, vol. 2(1), pages 1-10, December.
  5. Junyi Shen & Kazuhito Ogawa & Hiromasa Takahashi, 2014. "Examining the Tradeoff between Fixed Pay and Performance-related Pay: A Choice Experiment Approach," Discussion Paper Series DP2014-01, Research Institute for Economics & Business Administration, Kobe University.
  6. Junyi Shen & Yusuke Sakata & Yoshizo Hashimoto, 2006. "A Comparison between Latent Class Model and Mixed Logit Model for Transport Mode Choice: Evidences from Two Datasets of Japan," Discussion Papers in Economics and Business 06-05, Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP).

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