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

JM Rose, Iain Black

    Research output: Contribution to journalArticle

    23 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
    JournalMarketing Letters
    Volume17
    Issue number4
    DOIs
    Publication statusPublished - 2006

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