Predicted preference conjoint analysis
Name
journal.pone.0256010.pdf
Description
Published version
Size
833.3 KB
Format
Adobe PDF
Checksum (MD5)
e64b24033f7ce806da8028f983dfb26b
Author(s)
Radas, Sonja
Prelec, Dražen
Date Issued
2021
Journal
PLoS ONE
Publisher
Public Library of Science (PLoS)
Citation
Radas, Sonja and Prelec, Dražen. 2021. "Predicted preference conjoint analysis." PLoS ONE, 16 (8).
Version
Final published version
Abstract
In this paper we propose a new method of eliciting market research information. Instead of asking respondents for their personal choices and preferences, we ask respondents to predict the choices of other respondents to the survey. Such predictions tap respondents’ knowledge of peers, whether based on direct social contacts or on more general cultural information. The effectiveness of this approach has already been demonstrated in the context of political polling. Here we extend it to market research, specifically, to conjoint analysis. An advantage of the new approach is that it can elicit reliable responses in situations where people are not comfortable with disclosing their true preferences, but may be willing to give information about people around them. A theoretical argument demonstrates that predictions should yield utility estimates that are more accurate. These theoretical results are confirmed in four online experiments.
MIT Department
Sloan School of Management
Terms of Use
Creative Commons Attribution 4.0 International license
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DOI of Published Version
https://doi.org/10.1371/JOURNAL.PONE.0256010
