Conjoint models of family decision making

Lakshman Krishnamurthi*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

28 Scopus citations

Abstract

The objective of this research is to develop viable approaches to modeling joint decisions. Using conjoint-analysis-type preference data, three methods are developed to combine individual preferences to approximate joint preferences and predict joint decisions. The first is an equal weighting model, which is a simple average of individual members' part-worth utilities. The second is a relative influence model, which combines individual utility functions using a measure of derived influence. The third is a conflict resolution model, which combines utility functions using a measure of conflict. In addition to these three combination models, individual member models and a joint model based on the joint preferences are available. The application area in which the models are operationalized is family decision making. The decision involves choice of a job by MBA students and spouses at a major private university. The models are first calibrated using preference data on hypothetical jobs from MBAs, spouses, and couples and then evaluated on their ability to predict the actual job chosen.

Original languageEnglish (US)
Pages (from-to)185-198
Number of pages14
JournalInternational Journal of Research in Marketing
Volume5
Issue number3
DOIs
StatePublished - 1988

ASJC Scopus subject areas

  • Marketing

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