Introduction
Most choice experiments involve conducting a market research survey. The survey consists of a series of questions about attributes of interest about a potential new product or product modification. For example, a computer manufacturer might be interested in manufacturing a new laptop and wants information about customer preference before beginning an expensive development process. Computer characteristics change so rapidly that it is crucial to quickly identify the attributes that help the manufacturers to design and build a new machine most likely to capture enough market share to be profitable.
Often, the attributes are obvious. For example, the consumer wants a laptop that has a large screen, weighs almost nothing, costs almost ...
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