How many choice sets and alternatives are optimal? Consistency in choice experiments
Chanjin Chung (),
Tracy Boyer () and
Agribusiness, 2011, vol. 27, issue 1, 114-125
This article focuses on two important issues faced by researchers working on choice experiments: how to find the optimal number of alternatives in each choice set and the number of choice sets in each survey. The authors first develop survey instruments with different numbers of choice sets and alternatives. Then, a heteroscedastic logit model is developed to relate the varying number of alternatives and choice sets to changes in the error term by parameterizing the scale factor of the heteroscedastic logit model. The authors study the effects of two simultaneous forms of complexity on the consistency of respondents' choices, i.e., the number of choice sets per questionnaire and the number of options per choice set. Their findings suggest that respondents' choices do vary with the amount of information given resulting in an optimal five options and six choice sets per survey. Results from the marginal effects and willingness to pay (WTP) estimates indicate that varying the number of alternatives and choice sets can also affect consumers' marginal WTP estimates. [EconLit citations: Q110; Q130; Q180]. (C) 2010 Wiley Periodicals, Inc.
References: Add references at CitEc
Citations: View citations in EconPapers (5) Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:wly:agribz:v:27:y:2011:i:1:p:114-125
Access Statistics for this article
Agribusiness is currently edited by Ronald W. Cotterill
More articles in Agribusiness from John Wiley & Sons, Ltd.
Bibliographic data for series maintained by Wiley Content Delivery ().