Efficient design for willingness to pay in choice experiments: evidence from the field
Efficient experimental designs offer the potential to reduce confidence intervals for parameters of interest in choice models, or to reduce required sample sizes. C-efficiency recognizes the salience of willingness to pay estimates rather than utility function parameters. This study reports on a choice model application that incorporated updated statistical designs based on initial responses in order to maximize C-efficiency. The revised design delivered significant improvements.
TypeConference Contribution - Unpublished (Conference Oral Presentation)
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