Choice Modeling Platform Overview
Choice modeling, pioneered by McFadden (1974), is a powerful analytic method used to estimate the probability of individuals making a particular choice from presented alternatives. Choice modeling is also called conjoint choice modeling, discrete choice analysis, and conditional logistic regression.
A choice experiment studies customer preferences for a set of product or process (in the case of a service) attributes. Respondents are presented sets of product attributes, called profiles. Each respondent is shown a small set of profiles, called a choice set, and asked to select the preference that he or she most prefers. Each respondent is usually presented with several choice sets. Use the Choice platform to ...
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