caa a22 4500 445854928 CHVBK 20180317145425.0 cr unu---uuuuu 170323e20110101xx s 000 0 eng 10.1007/s10640-010-9401-6 doi (NATIONALLICENCE)springer-10.1007/s10640-010-9401-6 Bayesian Conjoint Choice Designs for Measuring Willingness to Pay [Elektronische Daten] [Bart Vermeulen, Peter Goos, Riccardo Scarpa, Martina Vandebroek] In this paper, we propose a new criterion for selecting efficient conjoint choice designs when the interest is in quantifying willingness to pay (WTP). The new criterion, which we call the WTP-optimality criterion, is based on the c-optimality criterion which is often used in the optimal experimental design literature. We use a simulation study to evaluate the designs generated using the WTP-optimality criterion and discuss the design of a real-life conjoint experiment from the literature. The results show that the new criterion leads to designs that yield more precise estimates of the WTP than Bayesian D-optimal conjoint choice designs, which are increasingly being seen as the state-of-the-art designs for conjoint choice studies, and to a substantial reduction in the occurrence of unrealistically high WTP estimates. The Author(s), 2010 c-optimal design nationallicence Choice experiments nationallicence Conditional logit model nationallicence D-optimal design nationallicence Robust design nationallicence Valuation nationallicence Vermeulen Bart Faculty of Business and Economics, Katholieke Universiteit Leuven, Naamsestraat 69, 3000, Leuven, Belgium aut Goos Peter Faculty of Applied Economics & StatUA Center for Statistics, Universiteit Antwerpen, Prinsstraat 13, 2000, Antwerpen, Belgium aut Scarpa Riccardo Economics Department, University of Waikato, Private Bag 3105, 3240, Hamilton, New Zealand aut Vandebroek Martina Faculty of Business and Economics & Leuven Statistics Research Centre, Katholieke Universiteit Leuven, Naamsestraat 69, 3000, Leuven, Belgium aut Environmental and Resource Economics Springer Netherlands 48/1(2011-01-01), 129-149 0924-6460 48:1<129 2011 48 10640 https://doi.org/10.1007/s10640-010-9401-6 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s10640-010-9401-6 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Vermeulen Bart Faculty of Business and Economics, Katholieke Universiteit Leuven, Naamsestraat 69, 3000, Leuven, Belgium aut NATIONALLICENCE 700 1- Goos Peter Faculty of Applied Economics & StatUA Center for Statistics, Universiteit Antwerpen, Prinsstraat 13, 2000, Antwerpen, Belgium aut NATIONALLICENCE 700 1- Scarpa Riccardo Economics Department, University of Waikato, Private Bag 3105, 3240, Hamilton, New Zealand aut NATIONALLICENCE 700 1- Vandebroek Martina Faculty of Business and Economics & Leuven Statistics Research Centre, Katholieke Universiteit Leuven, Naamsestraat 69, 3000, Leuven, Belgium aut NATIONALLICENCE 773 0- Environmental and Resource Economics Springer Netherlands 48/1(2011-01-01), 129-149 0924-6460 48:1<129 2011 48 10640 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer