Means matter, but variance matter too: decomposing response latency influences on variance heterogeneity in stated preference experiments

John M. Rose, Iain R. Black*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

29 Citations (Scopus)

Abstract

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.

Original languageEnglish
Pages (from-to)295-310
Number of pages16
JournalMarketing Letters
Volume17
Issue number4
DOIs
Publication statusPublished - 1 Dec 2006

Keywords

  • choice modelling
  • consumer choice behaviour
  • response time latencies
  • models of discrete choice

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