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Efficiency benefits of choice model experimental design updating: a case study

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  • Kerr, Geoffrey N.
  • Sharp, Basil M.H.

Abstract

Efficient experimental designs offer the potential to reduce confidence intervals for parameters of interest in choice models, or to reduce required sample sizes. C-efficiency recognises the salience of willingness to pay estimates rather than utility function parameters. This study reports on a choice model application that incorporated updated statistical designs based on initial responses in order to maximise C-efficiency. The revised design delivered significant improvements.

Suggested Citation

  • Kerr, Geoffrey N. & Sharp, Basil M.H., 2009. "Efficiency benefits of choice model experimental design updating: a case study," 2009 Conference (53rd), February 11-13, 2009, Cairns, Australia 47623, Australian Agricultural and Resource Economics Society.
  • Handle: RePEc:ags:aare09:47623
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    File URL: http://purl.umn.edu/47623
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    References listed on IDEAS

    as
    1. Louviere,Jordan J. & Hensher,David A. & Swait,Joffre D., 2000. "Stated Choice Methods," Cambridge Books, Cambridge University Press, number 9780521788304.
    2. Tara Maddala & Kathryn A. Phillips & F. Reed Johnson, 2003. "An experiment on simplifying conjoint analysis designs for measuring preferences," Health Economics, John Wiley & Sons, Ltd., vol. 12(12), pages 1035-1047.
    3. Ferrini, Silvia & Scarpa, Riccardo, 2007. "Designs with a priori information for nonmarket valuation with choice experiments: A Monte Carlo study," Journal of Environmental Economics and Management, Elsevier, vol. 53(3), pages 342-363, May.
    4. Rosalie Viney & Elizabeth Savage & Jordan Louviere, 2005. "Empirical investigation of experimental design properties of discrete choice experiments in health care," Health Economics, John Wiley & Sons, Ltd., vol. 14(4), pages 349-362.
    5. Bliemer, Michiel C.J. & Rose, John M. & Hensher, David A., 2009. "Efficient stated choice experiments for estimating nested logit models," Transportation Research Part B: Methodological, Elsevier, vol. 43(1), pages 19-35, January.
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    Keywords

    experimental design; choice experiment; efficiency; Research Methods/ Statistical Methods;

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