Predicted preference conjoint analysis.

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 b...

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Detalles Bibliográficos
Autores principales:	Sonja Radas, Dražen Prelec
Formato:	article
Lenguaje:	EN
Publicado:	Public Library of Science (PLoS) 2021
Materias:	Medicine R Science Q
Acceso en línea:	https://doaj.org/article/bd458a4e613949048f25120d167e08f5
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spelling	oai:doaj.org-article:bd458a4e613949048f25120d167e08f52021-12-02T20:17:34ZPredicted preference conjoint analysis.1932-620310.1371/journal.pone.0256010https://doaj.org/article/bd458a4e613949048f25120d167e08f52021-01-01T00:00:00Zhttps://doi.org/10.1371/journal.pone.0256010https://doaj.org/toc/1932-6203In 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.Sonja RadasDražen PrelecPublic Library of Science (PLoS)articleMedicineRScienceQENPLoS ONE, Vol 16, Iss 8, p e0256010 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Medicine R Science Q
spellingShingle	Medicine R Science Q Sonja Radas Dražen Prelec Predicted preference conjoint analysis.
description	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.
format	article
author	Sonja Radas Dražen Prelec
author_facet	Sonja Radas Dražen Prelec
author_sort	Sonja Radas
title	Predicted preference conjoint analysis.
title_short	Predicted preference conjoint analysis.
title_full	Predicted preference conjoint analysis.
title_fullStr	Predicted preference conjoint analysis.
title_full_unstemmed	Predicted preference conjoint analysis.
title_sort	predicted preference conjoint analysis.
publisher	Public Library of Science (PLoS)
publishDate	2021
url	https://doaj.org/article/bd458a4e613949048f25120d167e08f5
work_keys_str_mv	AT sonjaradas predictedpreferenceconjointanalysis AT drazenprelec predictedpreferenceconjointanalysis
_version_	1718374370196324352

Predicted preference conjoint analysis.

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