TY - JOUR
T1 - Means matter, but variance matter too
T2 - decomposing response latency influences on variance heterogeneity in stated preference experiments
AU - Rose, John M.
AU - Black, Iain R.
PY - 2006/12/1
Y1 - 2006/12/1
N2 - Response time latencies have been shown to influence consumer's choice behaviour in choice-based-conjoint studies. The literature has shown that response time latencies affect the mean outputs of parameter estimates derived from models of discrete choice. In this paper, we add further insight into the influences response time latencies have on such models by modelling latent response information associated with the variance of random parameter distributions through parameterisation of variance heterogeneity (or heteroskedasticity). We demonstrate that response time latencies influence not only the means of random parameter distributions, but also the variances, and that failure to account for both may result in incorrect model inferences being drawn.
AB - Response time latencies have been shown to influence consumer's choice behaviour in choice-based-conjoint studies. The literature has shown that response time latencies affect the mean outputs of parameter estimates derived from models of discrete choice. In this paper, we add further insight into the influences response time latencies have on such models by modelling latent response information associated with the variance of random parameter distributions through parameterisation of variance heterogeneity (or heteroskedasticity). We demonstrate that response time latencies influence not only the means of random parameter distributions, but also the variances, and that failure to account for both may result in incorrect model inferences being drawn.
KW - choice modelling
KW - consumer choice behaviour
KW - response time latencies
KW - models of discrete choice
UR - http://www.scopus.com/inward/record.url?scp=33746862543&partnerID=8YFLogxK
U2 - 10.1007/s11002-006-8632-3
DO - 10.1007/s11002-006-8632-3
M3 - Article
AN - SCOPUS:33746862543
SN - 0923-0645
VL - 17
SP - 295
EP - 310
JO - Marketing Letters
JF - Marketing Letters
IS - 4
ER -