An Incentive Compatible Conjoint Ranking Mechanism
A simple method for making ranking-based conjoint analysis incentive compatible is proposed. The incentive compatible mechanism involves people purchasing a product profile with a probability proportional to its assigned rank. In an empirical application related to consumer preferences for beef attributes, we find that the forecasted market share for a new pasture-raised steak obtained using incentive-compatible rankings was significantly greater than that implied from traditional hypothetical conjoint rankings. People's rankings of ground beef products were not affected by the mechanism or by information about pasture-raised beef. Copyright ©2007 American Agricultural Economics Association.
Year of publication: |
2008
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Authors: | Lusk, Jayson L. ; Fields, Deacue ; Prevatt, Walt |
Published in: |
American Journal of Agricultural Economics. - American Agricultural Economics Association. - Vol. 90.2008, 2, p. 487-498
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Publisher: |
American Agricultural Economics Association |
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