Choice modelling is often used to optimise the configuration of products/services or to create a hierarchy ranking of items. This paper will investigate the use of large language models (LLMs) to replicate the results of previous Conjoint and MaxDiff projects. We will test whether LLMs can be used to generate realistic responses to tasks, whether responses are consistent across LLMs and parameter settings, and whether you can train LLM’s to produce better quality data.
