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Guest Speaker: Ensembled Preferences, Dr Antonia Krefeld-Schwalb

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Location: On-line Email for link

Speaker: Dr Antonia Krefeld-Schwalb, Rotterdam School of Management, Erasmus University

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Title: Ensembled Preferences

Host: Dr Emmanouil Konstantinidis

Abstract: Preference elicitation tasks are generally considered the gold standard of preference measurement. For example, intertemporal preferences elicited in the laboratory have been associated with various aspects of maintaining a healthy lifestyle (BMI, Amlung et al., 2016; MacKillop & Kahler, 2009; Chapman & Coups, 1999) and consumer financial decisions (Li et al., 2015; Meier & Sprenger, 2012; Atlas et al., 2017). Recently, evidence has accumulated that the use of preference elicitation tasks is associated with several problems related to the models used for measurement (Krefeld-Schwalb et al., 2021), respondent behavior in the task (Li et al., 2021), and the effects of the context and settings of the task (Hardisty et al., 2012; Read et al., 2017), which affect the predictive validity of the measures. As a way to overcome these problems, we propose combining multiple preference elicitation tasks in what we call an ensembled-preference approach. This approach also allows for multiple sources of unexplained variance to be accounted for in the preference elicitation tasks.

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