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Title: Efficient and robust willingness-to-pay designs for choice experiments: some evidence from simulations
Authors: Vermeulen, Bart
Goos, Peter
Scarpa, Riccardo
Vandebroek, Martina
Issue Date: 2008
Publisher: K.U.Leuven
Series Title: FBE Research Report KBI_0809
Abstract: We apply a design efficiency criterion to construct conjoint choice experiments specifically focused on the accuracy of marginal estimates. In a simulation study and a numerical example, the resulting optimal designs are compared to alternative designs suggested in the literature. It turns out that optimal designs not only improve the estimation accuracy of the marginal, as expected on the basis of the nature of the efficiency criterion, but they also considerably reduce the occurrence of extreme estimates, which also exhibit smaller deviations from the real values. The proposed criterion is there for evaluable for non-market valuation studies as it reduces the sample size required for a given degree of accuracy and it produces estimates with fewer outliers.
Publication status: published
KU Leuven publication type: IR
Appears in Collections:Administrative and Support Services, Faculty of Economics and Business, Leuven - miscellaneous (-)
Research Center for Operations Research and Business Statistics (ORSTAT), Leuven

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