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Market Simulator Scenarios


Let's assume the CBC was setup with 4 attributes (5x5x3x2 levels). This gives  a total of 150 scenarios.

If I want to make use of the market simulator (RFC simulation) is it suitable to simply drop one attribute, or even to drop some levels of an attribute but to keep others?

Or is it even possible to "add" one level of an attribute (say its equal to another level that was part of the CBC)?

Thanks a lot!
asked Nov 25, 2019 by bs77 Bronze (790 points)

1 Answer

0 votes
Hi, Boris,

Well, it gives you a total of 150 possible profiles, but it you have 2 profiles per choice set, then you have 150 x 149 x 148 = 3.3 million-plus possible triples, right?

You could remove the effect of any attribute on the between-profile choice shares just by making it a constant on all your profiles (assuming it's not an attribute involved in an interaction), but if you have a none alternative, the shares of the none alternative will be affected by the level of the constant level you want to use to remove the effect of an attribute.  

I suppose if you knew that a new level of an attributes was worth the same, and to the same people, as an existing level for that attribute then you could add one.
answered Nov 25, 2019 by Keith Chrzan Platinum Sawtooth Software, Inc. (102,700 points)
So the shares of the NONE alternative will adjust. Ok I can live with that. Thanks a lot!

I don't get your calculation above. Can you explain me how you calculate that? Lets assume I have (as in your example) 2 profiles per choice set plus one opt-out option (so 3 profiles in total per choice set?), how many potential choices to I have with 150 profiles?
If you have 3 profiles in your choice set, your first one will be one of the 150 possible, right?  The second one, if we don't want a duplicate, will be one of the 149 remaining.  And if we have a third and we don't want duplicates, then we'll have 148 to pick from.  So there are 150 x 149 x 148 possible triples.
ok i did understand this part, but how do you include the opt-out alternative (i select neither of the ones you showed me) in this calculation?
The opt out is a constant, right, so it doesn't affect the number of possible choice sets.
Thanks a lot!