ConjointNet: Enhancing Conjoint Analysis for Preference Prediction with Representation Learning

Understanding consumer preferences is essential to product design and predicting market response to these new products. Choice-based conjoint analysis is widely used to model user preferences using their choices in surveys. However, traditional conjoint estimation techniques assume simple linear models. This assumption may lead to limited predictability and inaccurate estimation of product attribute contributions, especially on data that has underlying non-linear relationships. In this work, we employ representation learning to efficiently alleviate this issue. We propose ConjointNet, which is composed of two novel neural architectures, to predict user preferences. We demonstrate that the proposed ConjointNet models outperform traditional conjoint estimate techniques on two preference datasets by over 5%, and offer insights into non-linear feature interactions.