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A Comparative Empirical Study on Common Methods for Measuring Preferences

Author

Listed:
  • 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.

Suggested Citation

  • Roland Helm & Michael Steiner & Armin Scholl & Laura Manthey, 2004. "A Comparative Empirical Study on Common Methods for Measuring Preferences," Jenaer Schriften zur Wirtschaftswissenschaft (Expired!) 20/2004, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
  • Handle: RePEc:jen:jenasw:2004-20
    as

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    References listed on IDEAS

    as
    1. Roland Helm & Laura Manthey & Armin Scholl & Michael Steiner, 2003. "Empirical Evaluation of Preference Elicitation Techniques from Marketing and Decision Analysis," Jenaer Schriften zur Wirtschaftswissenschaft (Expired!) 02/2003, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
    2. 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.
    3. Green, Paul E, 1974. " On the Design of Choice Experiments Involving Multifactor Alternatives," Journal of Consumer Research, Oxford University Press, vol. 1(2), pages 61-68, Se.
    4. Roland Helm & Armin Scholl & Laura Manthey & Michael Steiner, 2004. "Measuring customer preferences in new product development: comparing compositional and decompositional methods," International Journal of Product Development, Inderscience Enterprises Ltd, vol. 1(1), pages 12-29.
    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. Roland Helm, 2004. "Export Market Entry Strategy and Success: Conceptual Framework and Empirical Examination," Jenaer Schriften zur Wirtschaftswissenschaft (Expired!) 06/2004, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
    7. Paul E. Green & Abba M. Krieger & Yoram Wind, 2001. "Thirty Years of Conjoint Analysis: Reflections and Prospects," Interfaces, INFORMS, vol. 31(3_supplem), pages 56-73, June.
    8. 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.
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    Citations

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    Cited by:

    1. Uwe Cantner & Jens Kruger & Kristina von Rhein, 2011. "Knowledge compensation in the German automobile industry," Applied Economics, Taylor & Francis Journals, vol. 43(22), pages 2941-2951.
    2. Markus Pasche, 2004. "Voluntary Commitment to Environmental Protection: A Bounded Rationality Approach," Jenaer Schriften zur Wirtschaftswissenschaft (Expired!) 22/2004, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
    3. Werner Jammernegg & Peter Kischka, 2005. "A Decision Rule Based on the Conditional Value at Risk," Jenaer Schriften zur Wirtschaftswissenschaft (Expired!) 09/2005, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
    4. Reinhard Haupt & Karsten Jahn & Marcus Lange & Wolfgang Ziegler, 2004. "Der Patentlebenszyklus: Methodische Lösungsansätze der externen Technologieanalyse," Jenaer Schriften zur Wirtschaftswissenschaft (Expired!) 24/2004, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
    5. Andreas Freytag & Simon Renaud, 2004. "Langfristorientierung in der Arbeitsmarktpolitik," Jenaer Schriften zur Wirtschaftswissenschaft (Expired!) 23/2004, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
    6. Andreas Freytag & Donato Masciandaro, 2005. "Financial Supervision Fragmentation and Central Bank Independence: The Two Sides of the Same Coin?," Jenaer Schriften zur Wirtschaftswissenschaft (Expired!) 14/2005, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
    7. Werner Jammernegg & Peter Kischka, 2004. "Performance Measurement for Inventory Models with Risk Preferences," Jenaer Schriften zur Wirtschaftswissenschaft (Expired!) 26/2004, Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultät.
    8. Marion Danner & Vera Vennedey & Mickaël Hiligsmann & Sascha Fauser & Christian Gross & Stephanie Stock, 2016. "How Well Can Analytic Hierarchy Process be Used to Elicit Individual Preferences? Insights from a Survey in Patients Suffering from Age-Related Macular Degeneration," The Patient: Patient-Centered Outcomes Research, Springer;Johns Hopkins Bloomberg School of Public Health, vol. 9(5), pages 481-492, October.

    More about this item

    Keywords

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

    JEL classification:

    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • C35 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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