algo-price-conjoint
Conjoint Analysis
Overview
Conjoint analysis estimates the relative value consumers place on product attributes by analyzing their choices among hypothetical product profiles. Choice-Based Conjoint (CBC) is the most common variant. Produces part-worth utilities per attribute level and derived willingness-to-pay estimates.
When to Use
Trigger conditions:
- Determining which features drive purchase decisions and how much they're worth
- Estimating willingness to pay for specific product features
- Optimizing product configuration for a target segment
When NOT to use:
- When you only need an acceptable price range (use Van Westendorp — simpler)
- When attributes can't be varied independently (natural constraints)
Algorithm
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