Enhancing Validity and Reliability Through Feedback-Driven Exploration: A Study in the Context of Conjoint Analysis

This study proposes a research design for the enhancement of validity and reliability in conjoint analysis research. For this purpose, we are applying the concept of feedback-driven exploration to conjoint analysis and assess the proposed research design concerning its benefits and limitations in respect of validity and reliability of results. The article is of interest for the field of preference elicitation through stated preference methods, and for model validation in transdisciplinary research. By applying the principle of feedback-driven exploration, we allow for feedback loops between researchers, industry experts and survey participants in order to strengthen both validity and reliability. A multi-case study of the agricultural markets in Switzerland illustrates the functioning of the proposed research design. We find that feedback-driven exploration significantly increases validity and reliability by enhancing methodological rigor and implementing an error-correcting mechanism. Additionally, a better understanding of the underlying decision processes is supported by the design due to increased interaction between researchers, industry experts and market participants.