Abstrakt
In this paper, we compare the standard, single-response choice-based con- joint (CBC) approach with three extended CBC procedures in terms of their external predictive validity and their ability to realistically capture consumers’ willingness to pay: (1) an incentive-aligned CBC mechanism (IA-CBC), (2) a dual-response CBC procedure (DR-CBC), and (3) an incentive-aligned dual- response CBC approach (IA-DR-CBC). Our empirical study features a unique sample of 2,679 music consumers who participated in a conjoint choice exper- iment prior to the market entry of a new music streaming service. To judge the predictive accuracy, we contacted the same respondents again 5 months after the launch and compared the predictions with the actual adoption decisions. The results demonstrate that IA-CBC and DR-CBC both increase the predictive accuracy. This result is promising because IA-CBC is not applicable to every research context so that DR-CBC provides a viable alternative. While we do not find an additional external validity improvement through the combination of both extensions, the IA-DR-CBC approach yields the most realistic willingness- to-pay estimates and should therefore be preferred when incentive alignment is feasible.Keywords
Originalsprog | Engelsk |
---|---|
Tidsskrift | Marketing Letters |
Vol/bind | 27 |
Udgave nummer | 1 |
Sider (fra-til) | 195-210 |
Antal sider | 16 |
ISSN | 0923-0645 |
DOI | |
Status | Udgivet - mar. 2016 |
Udgivet eksternt | Ja |
Emneord
- Conjoint analysis
- Dual response
- No-choice option
- Incentive alignment
- Choice models
- External validity