Efficient design for willingness to pay in choice experiments: evidence from the field
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Efficient experimental designs offer the potential to reduce confidence intervals for
parameters of interest in choice models, or to reduce required sample sizes. C-efficiency
recognizes the salience of willingness to pay estimates rather than utility
function parameters. This study reports on a choice model application that
incorporated updated statistical designs based on initial responses in order to
maximize C-efficiency. The revised design delivered significant improvements.