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An Incentive Compatible Conjoint Ranking Mechanism

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  • Deacue Fields
  • Walt Prevatt
Abstract
A simple method for making ranking-based conjoint analysis incentive compatible is proposed. The incentive compatible mechanism involves people purchasing a product profile with a probability proportional to its assigned rank. In an empirical application related to consumer preferences for beef attributes, we find that the forecasted market share for a new pasture-raised steak obtained using incentive-compatible rankings was significantly greater than that implied from traditional hypothetical conjoint rankings. People's rankings of ground beef products were not affected by the mechanism or by information about pasture-raised beef. Copyright 2008, Oxford University Press.

Suggested Citation

  • Deacue Fields & Walt Prevatt, 2008. "An Incentive Compatible Conjoint Ranking Mechanism," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 90(2), pages 487-498.
    • Handle: RePEc:oup:ajagec:v:90:y:2008:i:2:p:487-498
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    File URL: http://hdl.handle.net/10.1111/j.1467-8276.2007.01119.x
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