Discrete Choice Modeling and Conjoint Analysis

Discrete Choice Modeling and Conjoint Analysis

taught by Anthony Babinec

 
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Aim of Course:

In purchasing broadband internet service, what attributes matter to consumers? Price? Maximum bandwidth? Average bandwidth? Uptime? What is the consumer's ideal product? Are there consumer segments for which differential offerings could be constructed?

In this online course, “Discrete Choice Modeling and Conjoint Analysis,” you will learn statistical techniques that address questions like this. Conjoint analysis is a marketing research technique that asks respondents to rank, rate, or choose among multiple products or services, where each product is described using multiple characteristics. Participants in this course will learn how to use experimental designs to manipulate the appearance of attribute levels in product concepts. Then, after the data are collected, participants will use statistical methods to infer how the product attribute levels drive preference or choice. They will then be able to use the resulting model to model how the market would choose among a set of competing product alternatives.

This course may be taken individually (one-off) or as part of a certificate program.
Course Program:

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

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.

Discrete Choice Modeling and Conjoint Analysis

Who Should Take This Course:

Market researchers and consultants, analysts studying corporate strategy.

Level:
Advanced/Intermediate
Prerequisite:
Participants should have some familiarity with statistical modeling techniques (e.g. regression).
Organization of the Course:
Options for Credit and Recognition:
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.
Instructor(s):

Dates:

August 30, 2019 to September 27, 2019 August 28, 2020 to September 25, 2020

Discrete Choice Modeling and Conjoint Analysis

Instructor(s):

Dates:
August 30, 2019 to September 27, 2019 August 28, 2020 to September 25, 2020

Course Fee: $589

Do you meet course prerequisites? What about book & software? (Click here to learn more)

We have flexible policies to transfer to another course, or withdraw if necessary (modest fee applies)

Group rates: Click here to get information on group rates. 

First time student or academic? Click here for an introductory offer on select courses. Academic affiliation?  You may be eligible for a discount at checkout.

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The Institute for Statistics Education is certified to operate by the State Council of Higher Education in Virginia (SCHEV).

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