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Conjoint Analysis: A Comparative Analysis of Specification Tests for the Utility Function

Author

Listed:
  • Marcel L. Corstjens

    (INSEAD, Fontainebleau, France)

  • David A. Gautschi

    (INSEAD, Fontainebleau, France)

Abstract

The focus of this paper is on determining appropriate combination rules for idiosyncratic ordinal utility functions in conjoint measurement. An axiomatic diagnosis is used which is based on explanatory criteria rather than goodness-of-fit or predictive criteria. Experimental results are presented comparing the selection of combination rules based on axiomatic tests and empirical fitting procedures for additive (x + y + z) and distributive (x(y + z)) combinations of three factors. A number of conflicting diagnoses result from the simultaneous applications of axiomatic tests and goodness-of-fit criteria, suggesting the importance of testing certain necessary conditions for simple polynomial combination rules, such as additive and distributive rules. Because the axiomatic approach is effective in rejecting inappropriate functional forms, we argue that it should complement rather than replace the empirical fitting diagnostic approaches.

Suggested Citation

  • Marcel L. Corstjens & David A. Gautschi, 1983. "Conjoint Analysis: A Comparative Analysis of Specification Tests for the Utility Function," Management Science, INFORMS, vol. 29(12), pages 1393-1413, December.
    • Handle: RePEc:inm:ormnsc:v:29:y:1983:i:12:p:1393-1413
    DOI: 10.1287/mnsc.29.12.1393
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    Cited by:

    1. Silva, Pedro Luís & DesJardins, Stephen L. & Biscaia, Ricardo & Sá, Carla & Teixeira, Pedro N., 2023. "Public and Private School Grade Inflations Patterns in Secondary Education," IZA Discussion Papers 16016, Institute of Labor Economics (IZA).
    2. Stephen L. DesJardins & Dennis A. Ahlburg & Brian P. McCall, 2006. "An Integrated Model of Application, Admission, Enrollment, and Financial Aid," The Journal of Higher Education, Taylor & Francis Journals, vol. 77(3), pages 381-429, May.

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