Optimality of Reduced-Size Choice Sets

• Activity Number: 192
• Type: Contributed
• Date/Time: Monday, August 5, 2013 : 10:30 AM to 12:20 PM
• Sponsor: Section on Statistics in Marketing
• Author(s): Pallavi Chitturi*+ and Ke Huang
• Companies: Temple University and Temple University
• Keywords: choice experiments ; choice sets ; profiles ; attributes ; information per profile

Abstract

In choice experiments, profiles designed on the basis of all attributes are organized into systematically constructed choice sets. When the number of attributes or attribute levels becomes large, the profiles in a single choice set may be too numerous for respondents to make precise decisions. Designs where two-way and higher order interactions are estimated are particularly prone to requiring many profiles. The number of profiles may be reduced if it is only required that a subset of interactions be estimable. Several strategies have been proposed for reducing the number of profiles and the sizes of choice sets such as sub-setting choice sets, sub-setting levels, and sub-setting attributes. However, the optimality of these reduced size choice sets has not been examined in the literature. In this talk we examine the optimality of reduced size choice sets using information per profile (IPP) as the optimality criteria.