Efficiency benefits of choice model experimental design updating: a case study

Geoffrey N. Kerr and Basil M.H. Sharp

No 47623, 2009 Conference (53rd), February 11-13, 2009, Cairns, Australia from Australian Agricultural and Resource Economics Society

Abstract: 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 recognises 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 maximise C-efficiency. The revised design delivered significant improvements.

Keywords: Research; Methods/; Statistical; Methods (search for similar items in EconPapers)
Pages: 11
Date: 2009
New Economics Papers: this item is included in nep-dcm and nep-exp
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aare09:47623

DOI: 10.22004/ag.econ.47623

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