Data-driven assisted model specification for complex choice experiments data: Association rules learning and random forests for Participatory Value Evaluation experiments. (March 2023)

• Record Type: Journal Article
• Authors: Hernandez, Jose Ignacio; van Cranenburgh, Sander; Chorus, Caspar; Mouter, Niek
• Is Part Of: Journal of choice modelling. Volume 46(2023)
• Publication Date: 2023-03
• Subjects: Machine learning -- Choice experiments -- Participatory value evaluation -- Association rules -- Random forests; Decision making -- Periodicals; Social choice -- Periodicals; Decision making; Social choice; Periodicals; 302.13
• DOI: 10.1016/j.jocm.2022.100397
• Languages: English
• ISSNs: 1755-5345

Abstract

Abstract: We propose three procedures based on association rules (AR) learning and random forests (RF) to support the specification of a portfolio choice model applied in data from complex choice experiment data, specifically a Participatory Value Evaluation (PVE) choice experiment. In a PVE choice experiment, respondents choose a combination of alternatives, subject to a resource constraint. We combine a methodological-iterative (MI) procedure with AR learning and RF models to support the specification of parameters of a portfolio choice model. Additionally, we use RF model predictions to contrast the validity of the behavioural assumptions of different specifications of the portfolio choice model. We use data of a PVE choice experiment conducted to elicit the preferences of Dutch citizens for lifting COVID-19 measures. Our results show model fit and interpretation improvements in the portfolio choice model, compared with conventional model specifications. Additionally, we provide guidelines on the use of outcomes from AR learning and RF models from a choice modelling perspective. Highlights: We propose data-driven methods to assist specification of portfolio choice models. We use data from a Participatory Value Evaluation (PVE) experiment. We obtain goodness-of-fit and interpretation improvements from assisted models. Additional interpretations are possible from outcomes from data-driven methods.