Fast Polyhedral Adaptive Conjoint Estimation
Name
VC_FastPace.pdf
Size
1.23 MB
Format
Adobe PDF
Checksum (MD5)
685aca9a7ddb73297767d40ad17f6a91
Author(s)
Olivier, Toubia
Duncan, Simester
John, Hauser
Date Issued
February 2002
Abstract
We propose and test a new adaptive conjoint analysis method that draws on recent polyhedral “interior-point” developments in mathematical programming. The method is designed to offer accurate estimates after relatively few questions in problems involving many parameters. Each respondent’s ques-tions are adapted based upon prior answers by that respondent. The method requires computer support but can operate in both Internet and off-line environments with no noticeable delay between questions. We use Monte Carlo simulations to compare the performance of the method against a broad array of relevant benchmarks. While no method dominates in all situations, polyhedral algorithms appear to hold significant potential when (a) metric profile comparisons are more accurate than the self-explicated importance measures used in benchmark methods, (b) when respondent wear out is a concern, and (c) when product development and/or marketing teams wish to screen many features quickly. We also test hybrid methods that combine polyhedral algorithms with existing conjoint analysis methods. We close with suggestions on how polyhedral methods can be used to address other marketing problems.
Subjects
adaptive conjoint analysis
polyhedral
interior-point
mathematical programming
accurate estimates
Monte Carlo simulations
polyhedral algorithms
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