| Original language | Undefined |
|---|---|
| Title of host publication | The Palgrave Encyclopedia of Strategic Management |
| Subtitle of host publication | Living Edition |
| Editors | Mie Augier, David J. Teece |
| Publication status | Published - Oct 2015 |
Abstract
Choice modelling represents the structured examination of individual decision-making among designed alternatives. Although most commonly used to examine individual choices – for example, among product alternatives where the features of the products vary – choice models can be utilized to examine any set of alternatives that can be decomposed into distinct parts, such as investments or market-entry alternatives. The most methodologically valid approach to choice modelling is discrete choice modelling, which has its basis in random utility theory (RUT) and relies on a number of simplifying assumptions to link its conceptual formulation to a specific empirical model.
Keywords
- Choice Behaviour
- Conjoint Analysis
- Choice Alternative
- Discrete Choice Experiment
- Discrete Choice Modelling