Response Latencies in the Analysis of Conjoint Choice Experiments

Response latencies provide information about consumers' choice behavior in a conjoint choice experiment. The authors use filtered response latencies to scale the covariance matrix of a multinomial probit model and show that this leads to better model fit and holdout predictions, even if the response latencies in the holdout task are not used. The authors provide an empirical application along with a tentative explanation for the findings of the effect of response latencies.