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.
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Famous quotes containing the words strengths, choice and/or modelling:
“My strengths make me contemptuous. My weaknesses make me charitable.”
—Mason Cooley (b. 1927)
“We human beings do have some genuine freedom of choice and therefore some effective control over our own destinies. I am not a determinist. But I also believe that the decisive choice is seldom the latest choice in the series. More often than not, it will turn out to be some choice made relatively far back in the past.”
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—Willa Cather (1873–1947)