Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/315698 
Year of Publication: 
2024
Citation: 
[Journal:] Journal of the Academy of Marketing Science [ISSN:] 1552-7824 [Volume:] 52 [Issue:] 3 [Publisher:] Springer US [Place:] New York, NY [Year:] 2024 [Pages:] 610-633
Publisher: 
Springer US, New York, NY
Abstract: 
Choice-based conjoint (CBC) analysis features prominently in market research to predict consumer purchases. This study focuses on two principles that seek to enhance CBC: incentive alignment and adaptive choice-based conjoint (ACBC) analysis. While these principles have individually demonstrated their ability to improve the forecasting accuracy of CBC, no research has yet evaluated both simultaneously. The present study fills this gap by drawing on two lab and two online experiments. On the one hand, results reveal that incentive-aligned CBC and hypothetical ACBC predict comparatively well. On the other hand, ACBC offers a more efficient cost-per-information ratio in studies with a high sample size. Moreover, the newly introduced incentive-aligned ACBC achieves the best predictions but has the longest interview time. Based on our studies, we help market researchers decide whether to apply incentive alignment, ACBC, or both. Finally, we provide a tutorial to analyze ACBC datasets using open-source software (R/Stan).
Subjects: 
Adaptive choice-based conjoint (ACBC) analysis
Discrete choice experiments (DCE)
Incentive alignment
Predictive validity
Purchase forecasting
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article
Document Version: 
Published Version

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.