Identifying a behaviourally relevant choice set from stated choice data

详细信息    查看全文

• 作者：David A. Hensher ; Chinh Ho
• 关键词：Best–worst ; Model specifications ; Choice models ; Choice sets ; Full rank ; Irrelevance of Statewise Dominated Alternatives ; Road pricing reform ; Choice experiment
• 刊名：Transportation
• 出版年：2016
• 出版时间：March 2016
• 年：2016
• 卷：43
• 期：2
• 页码：197-217
• 全文大小：1,618 KB
• 参考文献：Alberini, A.: Repeated questioning in choice experiments: are we improving statistical efficiency or getting respondents confused? J. Environ. Econ. Policy 1(2), 216–233 (2014). doi:10.​1080/​21606544.​2012.​698516 CrossRef
  Collins, A.T., Rose, J.M.: Estimation of stochastic scale with best–worst data. Working paper, Institute of Transport and Logistics Studies, The University of Sydney Business School (2011)
  Dequiedt, V., Martimort, D.: Non-manipulable mechanisms: a brief overview. Public Econ. 18–19, 3–16 (2006). http://​economiepublique​.​revues.​org/​4392
  Flynn, T.N., Louviere, J.J., Peters, T.J., Coast, J.: Best–worst scaling: what it can do for health care research and how to do it. J. Health Econ. 26, 171–189 (2007)CrossRef
  Gourville, J.T., Soman D.: Extremeness seeking: when and why consumers prefer the extreme, Harvard Business School Marketing Research Working Paper Number 07-092 (2007)
  Hawkins, G.E., Marley, A.A.J., Heathcote, A., Flynn, T.N., Louviere, J.J., Brown, S.D.: The best of times and the worst of times are interchangeable. Decision 1(3), 192–214 (2014). doi:10.​1037/​dec0000012 CrossRef
  Hensher, D.A.: How do respondents process stated choice experiments?—Attribute consideration under varying information load. J. Appl. Econ. 21(6), 861–878 (2006)CrossRef
  Hensher, D.A.: Attribute processing, heuristics and preference construction in choice analysis. In: Hess, S., Daly, A. (eds.) State-of Art and State-of Practice in Choice Modelling, pp. 35–70. Emerald Press, UK (2010)
  Hensher, D.A., Ho, C.: The role of perceptual acceptability of alternatives in identifying and assessing choice set processing strategies under random regret minimisation, November (2014)
  Hensher, D.A., Rose, J.M., Collins, A.: Understanding buy in for risky prospects: incorporating degree of belief into the ex ante assessment of support for alternative road pricing schemes. J. Transp. Econ. Policy 47(3), 453–473 (2013a)
  Hensher, D.A., Collins, A.T., Greene, W.H.: Accounting for attribute non-attendance and common-metric aggregation in a latent class mixed multinomial logit model: a warning on potential confoundment. Transportation 40(5), 1003–1020 (2013b)CrossRef
  Hensher, D.A., Greene, W.H., Li, Z.: Embedding risk attitude and decisions weights in non-linear logit to accommodate time variability in the value of expected travel time savings. Transp. Res. Part B 45, 954–972 (2011)CrossRef
  Leong, W., Hensher, D.A.: Embedding decision heuristics in discrete choice models: a review. Transp. Rev. 32, 313–331 (2012a)CrossRef
  Leong, W., Hensher, D.A.: Embedding multiple heuristics into choice models: an alternative approach. J. Choice Model. 5, 131–144 (2012b)CrossRef
  Leong, W., Hensher, D.A.: Contrasts of relative advantage maximisation with random utility maximisation and regret minimisation. J. Transp. Econ. Policy (in press 2014). Accepted 4 Dec 2013
  Louviere, J.J., Lings, I., Islam, T., Gudergan, S., Flynn, T.: An introduction to the application of (case 1) best–worst scaling in marketing research. Int. J. Mark. Res. 30, 292–303 (2013)CrossRef
  Marley, A.A.J., Flynn, T.N.: Best and worst scaling: theory and application. In: James D. Wright (Editor-in-Chief), International Encyclopedia of the Social and Behavioral Sciences, 2nd Edition. Elsevier (2015)
  Marley, A.A.J., Pihlens, D.: Models of best–worst choice and ranking among multi-attribute options (profiles). J. Math. Psychol. 56, 24–34 (2012)CrossRef
  Quiggin, J.: A theory of anticipated utility. J. Econ. Behav. Organ. 3(4), 323–343 (1982)CrossRef
  Quiggin, J.: Regret theory with general choice sets. Risk Uncertain. 8(2), 153–165 (1994)CrossRef
  Rieskamp, J., Busemeyer, J., Mellers, B.: Extending the bounds of rationality: evidence and theories of preferential choice. J. Econ. Lit. 44, 631–661 (2006)CrossRef
  Rooderkerk, R.P., Van Heerde, H.J., Bijmolt, T.H.A.: Incorporating context effects into a choice model. J. Mark. Res. 48(August), 767–780 (2011)CrossRef
  Rose J.M.: Interpreting discrete choice models based on best–worst data: a matter of framing, 93rd Annual Meeting of the Transportation Research Board TRB 2014, Washington D.C., United States, 16th January 2014
  Rose, J.M., Bliemer, M.C., Hensher, D.A., Collins, A.T.: Designing efficient stated choice experiments in the presence of reference alternatives. Transp. Res. Part B 42(4), 395–406 (2008)CrossRef
  Rose, J.M., Beck, M.J., Hensher D.A.: Eliminating endogeneity bias in the calibration of choice experiments: the joint estimation of choice and choice certainty and choice and alternative acceptability, Submitted to Transportation Research Part A, being revised, November (2014)
  Trueblood, J.S., Brown, S.D., Heathcote, A., Busemeyer, J.R.: Not just for consumers: context effects are fundamental to decision–making. Psychol. Sci. 24, 901–908 (2013)CrossRef
  Vermeulen, B., Goos, P., Vandebroek, M.: Obtaining more information from conjoint experiments by best–worst choices. Comput. Stat. Data Anal. 54, 1426–1433 (2010)CrossRef
  
• 作者单位：David A. Hensher (1)
  Chinh Ho (1)
  
  1. Institute of Transport and Logistics Studies (ITLS), The University of Sydney Business School, The University of Sydney, Camperdown, NSW, 2006, Australia
  
• 刊物类别：Business and Economics
• 刊物主题：Economics
  Regional Science
  Economic Geography
  Engineering Economics, Organization, Logistics and Marketing
  Technology Management
  
• 出版者：Springer Netherlands
• ISSN：1572-9435

文摘

Stated choice experiments are designed optimally in a statistical sense but not necessarily in a behavioural choice making sense. Statistical designs, and consequently model estimation, assume that the set of alternatives offered in the experiment are processed by respondents with a specific processing strategy. Much has been studied about attribute processing using discrete choice methods in travel choice studies, but this paper focuses more broadly on processing of alternatives in the choice set offered in the experiment. This paper is motivated by the primary idea that the distribution of predicted choice probabilities associated with a set of alternatives defining a given choice set might provide strong evidence on the strategies that agents appear to use when choosing a preferred alternative. In an empirical setting of a choice set of size three, four model specifications are considered including a model for the selection of the best alternative in the full choice set and three variants of a best–worst regime. Using state choice data on road pricing reform, the empirical analysis examines which model specification delivers the most accurate prediction of the chosen alternative. The results suggest which alternatives really matter in choice making and hence the alternatives that might be included in a choice set for model specification.