Testing the consistency of preferences in discrete choice experiments: an eye tracking study

Abstract

Abstract A within-subjects experiment with eye tracking was implemented to test the consistency of preferences over three repeated choice experiments. The empirical results indicate that after changing the position of the same alternatives in the choice set, participants were consistent with their choices 69 per cent of the time. Moreover, after reverting back to the identical original positions of the alternatives but randomising the order of the choice sets, individuals’ choices were consistent 67 per cent of the time. Eye tracking data revealed that subjects’ visual attention towards the product attributes was also consistent over the sequence of choices. The robustness of these results was further demonstrated by using random parameters models with flexible mixing distributions to calculate willingness-to-pay for the product attributes and compare its consistency across choice experiments.