What factors should you consider when selecting a sample for consumer choice experiments?
Consumer choice experiments are a popular method to elicit consumers' preferences and willingness to pay for different products or services. They involve presenting consumers with a set of alternatives, each with different attributes and levels, and asking them to choose their preferred option. However, designing and conducting a consumer choice experiment requires careful attention to the selection of the sample, as it can affect the validity and reliability of the results. In this article, you will learn about some of the main factors that you should consider when selecting a sample for consumer choice experiments.