Nominal Response – Based Conjoint Analysis Of Banking Products

Abstract :

The aim of the paper is application of Nominal Response IRT (NR-IRT) polytomous measurement model (Bock 1972) within the framework of conjoint analysis of banking product on Polish market and to compare the findings with the choice based model (conditional logit model with the specific alternatives). Proposed approach links the tradition of conjoint measurement of dominance structures in attitude measurement with the preference analysis. Incorporating the explicit measurement model within the conjoint analysis allows for error - in variables effect and controlling for downward bias in estimates of the parameters. Additionally, it combines the fundamental conjoint measurement of Rasch tradition with the preference - oriented conjoint analysis (Neubauer 2003).