Peer-Predicted-Preference Conjoint Analysis: Tapping Into Consumers’ Knowledge of Their Peers’ Preferences to Improve Market Share Estimates
We propose a new conjoint analysis approach: Instead of asking respondents for their personal choices and preferences, we ask them to predict the choices of others. Using theory and four experiments, we show that such predictions, which tap into respondents’ knowledge of their peers, produce more precise market share estimates.
Sonja Radas and Drazen Prelec (2020) ,"Peer-Predicted-Preference Conjoint Analysis: Tapping Into Consumers’ Knowledge of Their Peers’ Preferences to Improve Market Share Estimates", in NA - Advances in Consumer Research Volume 48, eds. Jennifer Argo, Tina M. Lowrey, and Hope Jensen Schau, Duluth, MN : Association for Consumer Research, Pages: 842-846.
Sonja Radas, The Institute of Economics, Zagreb
Drazen Prelec, Massachusetts Institute of Technology, USA
NA - Advances in Consumer Research Volume 48 | 2020
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