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	Discrete Choice Demand Model	Choice Experiment Valuation
分野	経済学	経済学
系統	Regression model	Process / pipeline
提唱年	1995	1974
提唱者	Daniel McFadden (logit); Berry, Levinsohn & Pakes (random-coefficients aggregate demand)	Random utility theory (McFadden); applied to valuation by Louviere & Hensher
種類	Characteristics-based discrete-choice model of demand for differentiated products	Attribute-based stated-preference valuation method
原典	McFadden, D. (1974). Conditional logit analysis of qualitative choice behavior. In P. Zarembka (Ed.), Frontiers in Econometrics. Academic Press. ISBN: 9780127761503	McFadden, D. (1974). Conditional logit analysis of qualitative choice behavior. In P. Zarembka (Ed.), Frontiers in Econometrics (pp. 105–142). New York: Academic Press. ISBN: 9780127761503
別名	Discrete Choice Demand, Random-Coefficients Logit Demand, BLP Demand Model, Characteristics-Based Demand Model	Discrete Choice Experiment, DCE, Choice-Based Conjoint Valuation, Stated Choice Experiment
関連	3	2
概要	Discrete-choice demand models estimate the demand for differentiated products — cars, cereals, computers — by modeling consumers as choosing the single product that maximizes their random utility, where utility depends on the product's observed characteristics and price plus an unobserved quality term and an idiosyncratic taste shock. Aggregating individual choice probabilities yields predicted market shares, which are matched to observed shares to recover preference parameters. The framework spans the simple multinomial and nested logit of McFadden to the Berry-Levinsohn-Pakes (BLP) random-coefficients model that uses aggregate market data, allows flexible substitution, and instruments for price endogeneity.	A choice experiment (discrete choice experiment, DCE) is an attribute-based stated-preference method that values non-market goods by describing them as bundles of characteristics and asking respondents to choose repeatedly among competing alternatives — one of which always carries a cost. Grounded in random utility theory, the choices are modeled with a discrete-choice model whose coefficients reveal the relative value of each attribute, and dividing any attribute's coefficient by the cost coefficient yields its marginal willingness to pay.