Discrete Choice Modeling and Conjoint Analysis
This course will teach you to design appropriate conjoint and choice studies using surveys, panels, designed experiments, be able to analyze and interpret the resulting data.
Overview
Complex sample designs such as stratified cluster sampling make it possible to extract maximum information at minimum cost, but they are typically harder to work with than simple random samples. How do you analyze the resulting data – in particular, how do you determine margins of error? This course teaches you how to estimate variances when analyzing survey data from complex samples, and also how to fit linear and logistic regression models to complex sample survey data.
- Intermediate, Advanced
- 4 Weeks
- Expert Instructor
- Tuiton-Back Guarantee
- 100% Online
- TA Support
Learning Outcomes
Students who complete this course will learn fundamental concepts of conjoint analysis. Topics include: designing conjoint and choice studies; conjoint analysis of rank data; and introduction to the multinomial logit model.
- Design experiments to manipulate the appearance of attribute levels in product concepts.
- Use the resulting data to infer how the product attribute levels drive preference or choice.
- Fit a model to the data to predict how the market would choose among a set of competing product alternatives
Who Should Take This Course
Market researchers and consultants, analysts studying corporate strategy.
Our Instructors
Course Syllabus
Week 1
Fundamental Concepts
- Ranks, ratings, choices
- Random utility models
Week 2
Designing Conjoint and Choice Studies
- Samples
- Surveys
- Panel data
- Criteria for obtaining better designs
Week 3
Conjoint Analysis of Rank Data
- Conjoint analysis of rank and ratings
- Conjoint simulation
Week 4
Introduction to the Multinomial Logit Model
- Multinomial logit model
- Maximum likelihood estimation
- Extensions to the basic model
Class Dates
2023
Instructors:
Prerequisites
Participants should have some familiarity with statistical modeling techniques (e.g. regression).
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Discrete Choice Modeling and Conjoint Analysis
Additional Information
Homework
Homework in this course consists of short answer questions to test concepts and guided data analysis problems using software.
Guided data modeling problems using software
In addition to assigned readings, this course also has Discussion tasks, and an end of course data modeling project.
Course Text
The course text is Applied Choice Analysis: A Primer by David A. Hensher, John M. Rose and William H. Greene, published by Cambridge Press.
Software
Examples of design and analysis will be shown in various software packages. While the course text is tuned to Nlogit/Limdepo, no software is required to do the coursework.
Course Fee & Information
Enrollment
Courses may fill up at any time and registrations are processed in the order in which they are received. Your registration will be confirmed for the first available course date unless you specify otherwise.
Transfers and Withdrawals
We have flexible policies to transfer to another course or withdraw if necessary.
Group Rates
Contact us to get information on group rates.
Discounts
Academic affiliation? In most courses you are eligible for a discount at checkout. Use promo code ACADEMIC where prompted during registration.
Invoice or Purchase Order
Add $50 service fee if you require a prior invoice, or if you need to submit a purchase order or voucher, pay by wire transfer or EFT, or refund and reprocess a prior payment.
Supplemental Information
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Register For This Course
Discrete Choice Modeling and Conjoint Analysis