Multiple Constraint Choice Models with Corner and Interior Solutions

A choice model based on direct utility maximization subject to an arbitrary number of constraints is developed and applied to conjoint data. The model can accommodate oth corner and interior solutions, and provides insights into the proportion of respondents bound by each constraint. Application to volumetric choice data reveals the majority of respondents make choices consistent with price and quantity restrictions. Estimates based on a single monetary-constraint choice model are shown to lead to biased estimates of the monetary value of attribute-levels