Conjoint models of tourist portfolio choice: Theory and illustration

Abstract

This article develops and tests a conjoint choice model of portfolio choice behavior. It shows how experimental design principles and discrete choice model specifications can be used to model the choice of travel portfolios. Design strategies, model formulations, and estimation methods are discussed and illustrated through use of Dutch tourists’ choices of destination and transportation for short city breaks as an example. Findings support the suggested methodology and indicate that the nested logit model is most appropriate in the tested application.