A comparative empirical study of Analytic Hierarchy Process and Conjoint analysis: Literature review
DOI:
https://doi.org/10.31181/dmame1802160pKeywords:
Analytic Hierarchy Process, Conjoint analysis, multi-criteria decision making (MCDM) methods, literature reviewAbstract
This paper is based on the main difference between conceptual and theoretical frameworks as well as literature review of comparative studies of two multi-criteria decision making methods: Analytic Hierarchy Process (AHP) and Conjoint analysis. The AHP method represents a formal framework for solving complex multiatributive decision making problems, as well as a systemic procedure for ranking multiple alternatives and/or for selecting the best from a set of available ones. Conjoint analysis is an experimental approach used for measuring individual’s preferences regarding the attributes of a product or a service. It is based on a simple premise that individuals evaluate alternatives, with these alternatives being composed of a combination of attributes whose part-worth utilities are estimated by researchers. Bearing in mind the quality of desired results, it must be dependent on the problems and aspects of research: knowledge of the methods, complexity (number of attributes and their levels), order effects, level of consistency, chooses the appropriate method.
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