Abstract

http://ssrn.com/abstract=2072496
 


 



Models of Sequential Evaluation in Best-Worst Choice Tasks


Tatiana Dyachenko


Georgetown University - McDonough School of Business

Rebecca Walker Reczek


Ohio State University (OSU) - Department of Marketing and Logistics

Greg M. Allenby


Ohio State University (OSU) - Department of Marketing and Logistics

June 2, 2012

Tatiana Dyachenko, Rebecca Walker Reczek, Greg M. Allenby (2014) Models of Sequential Evaluation in Best-Worst Choice Tasks. Marketing Science 33(6):828-848. doi.org/10.1287/mksc.2014.0870

Abstract:     
We examine the nature of best-worst data for modeling consumer preferences and predicting their choices. We show that, contrary to the assumption of widely used models, the best and worst responses do not originate from the same data-generating process. We propose a sequential evaluation model and show that later choices have systematically larger coefficients as compared to earlier choices. We also find the presence of an elicitation effect that leads to larger coefficients when respondents are asked to select the worst alternative, meaning that respondents are surer about what they like least than what they like most. Finally, we investigate global inference retrieval in choice tasks, which can be represented by the central limit theorem and normally distributed errors, versus episodic retrieval represented by extreme value errors. We find that both specifications of the error term are plausible and advise to use the proposed sequential logit model for practical reasons. We apply our model to data from a national survey investigating the concerns associated with hair care. We find that accounting for the sequential evaluation in the best-worst tasks and the presence of the scaling effects leads to different managerial implications compared to the results from currently used models.

Keywords: Bayesian estimation, psychological models, choice models

JEL Classification: C11, C25, M31


Not Available For Download

Date posted: June 2, 2012 ; Last revised: January 19, 2015

Suggested Citation

Dyachenko, Tatiana and Reczek, Rebecca Walker and Allenby, Greg M., Models of Sequential Evaluation in Best-Worst Choice Tasks (June 2, 2012). Tatiana Dyachenko, Rebecca Walker Reczek, Greg M. Allenby (2014) Models of Sequential Evaluation in Best-Worst Choice Tasks. Marketing Science 33(6):828-848. doi.org/10.1287/mksc.2014.0870. Available at SSRN: http://ssrn.com/abstract=2072496 or http://dx.doi.org/10.2139/ssrn.2072496

Contact Information

Tatiana Dyachenko (Contact Author)
Georgetown University - McDonough School of Business ( email )
581 Hariri Bld
37 & O street
Washington, DC 20057
United States
Rebecca Walker Reczek
Ohio State University (OSU) - Department of Marketing and Logistics ( email )
2100 Neil Avenue
538 Fisher Hall
Columbus, OH 43210
United States

Greg M. Allenby
Ohio State University (OSU) - Department of Marketing and Logistics ( email )
Fisher Hall 524
2100 Neil Ave
Columbus, OH 43210
United States

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