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Ratings-/rankings-based versus choice-based conjoint analysis for predicting choices

: Baier, Daniel; Pelka, Marcin; Rybicka, Aneta; Schreiber, Stefanie


Lausen, B. ; Gesellschaft für Klassifikation:
Data science, learning by latent structures, and knowledge discovery : Selected papers presented during the European Conference on Data Analysis (ECDA 2013), Luxembourg, 10-12 July 2013
Berlin: Springer, 2015 (Studies in classification, data analysis and knowledge organization)
ISBN: 978-3-662-44982-0 (Print)
ISBN: 978-3-662-44983-7 (Online)
ISBN: 3-662-44982-X
European Conference on Data Analysis (ECDA) <1, 2013, Luxembourg>
Conference Paper
Fraunhofer FIT ()

Nowadays, for market simulation in consumer markets with multi-attributed products, choice-based conjoint analysis (CBC) is most popular. The popularity stems-on one side-from the possibility to use online-panels for affordable data collection and—on the other side—from the possibility to estimate part worths at the respondent level using only few observations. However, a still open question is, whether this money- and time-saving approach provides the same or even better results than ratings-/rankings-based alternatives. An experiment with 787 students from Poland and Germany is used to answer this question: Cola preferences are measured using CBC as well as ratings-/rankings-based alternatives. The results are compared using the Multitrait-Multimethod Matrix for the estimated part worths and first choice hit rates for holdout choice sets. The experiment shows a superiority of CBC, but also important differences between Polish and German cola consumers that outweigh methodological differences.