Data/hora: 13/06/2024 06:26:08

Provedor de dados: | 31
País: | United States
Título: | On the Use of Valuation Mechanisms to Measure Consumers' Willingness to Pay for Novel Products: A Comparison of Hypothetical and Non-Hypothetical Values
Autores: | Silva,   Andres; Nayga,   Rodolfo M., Jr.; Campbell,   Benjamin L.; Park,   John L.
Data: | 2008-01-14
Ano: | 2007
Palavras-chave: | Conjoint analysis; Willingness-to-pay; Auction; Hypothetical; Non-hypothetical; Consumer/Household Economics; Institutional and Behavioral Economics.
Resumo: | Willingness to pay (WTP) estimates for novel products are needed to assess consumers' valuation of these products as well as for product adoption and optimal pricing strategies. Using experiments in a retail setting, we compare hypothetical and non-hypothetical WTP values between a Becker-DeGroot-Marshak (BDM) auction mechanism and conjoint analysis. Our results suggest that the auction WTP values are higher than conjoint analysis WTP values. Moreover, the hypothetical WTP values are higher than the non-hypothetical WTP values in both elicitation mechanisms.
Tipo: | Journal Article
Idioma: | Inglês

Identificador:

28303

http://purl.umn.edu/8186

Editor: | AgEcon Search
Relação: | International Food and Agribusiness Management Review&gt;Volume 10, Issue 02, 2007

Formato:

16

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