Strengths of Choice Modelling
- Forces respondents to consider trade-offs between attributes;
- Makes the frame of reference explicit to respondents via the inclusion of an array of attributes and product alternatives;
- Enables implicit prices to be estimated for attributes;
- Enables welfare impacts to be estimated for multiple scenarios;
- Can be used to estimate the level of customer demand for alternative 'service product' in non-monetary terms; and
- Potentially reduces the incentive for respondents to behave strategically.
Read more about this topic: Choice Modelling
Famous quotes containing the words strengths, choice and/or modelling:
“A man who has never lost himself in a cause bigger than himself has missed one of life’s mountaintop experiences. Only in losing himself does he find himself. Only then does he discover all the latent strengths he never knew he had and which otherwise would have remained dormant.”
—Richard M. Nixon (1913–1995)
“Stupid or smart, there wasn’t much choice about what was going to happen to me ... Growing up was like falling into a hole.... I might not quit school, not while Mama had any say in the matter, but what difference would that make? What was I going to do in five years? Work in the textile mill? Join Mama at the diner? It all looked bleak to me. No wonder people got crazy as they grew up.”
—Dorothy Allison (b. 1953)
“The windy springs and the blazing summers, one after another, had enriched and mellowed that flat tableland; all the human effort that had gone into it was coming back in long, sweeping lines of fertility. The changes seemed beautiful and harmonious to me; it was like watching the growth of a great man or of a great idea. I recognized every tree and sandbank and rugged draw. I found that I remembered the conformation of the land as one remembers the modelling of human faces.”
—Willa Cather (1873–1947)