1 How Should We Measure Consumers’ Willingness to Pay? An Empirical Comparison of State-of-the-Art Approaches KLAUS M. MILLER, RETO HOFSTETTER, HARLEY KROHMER, and Z. JOHN ZHANG Web Appendix A: Literature Overview Table A1 STUDIES COMPARING DIRECT HYPOTHETICAL AND INCENTIVE-ALIGNED APPROACHES TO MEASURE CONSUMERS’ WTP Study Compared Methods Stimulus Sample Comparison Standard Out-of-sample choice a Mean WTP Demand Curve Pricing Decision Backhaus,Wilken , Voeth, and Sichtmann (2005) OE vs. IOE b Weekend trip Graduate students (n = 434) n.a. OE > IOE * OE > IOE * n.a. Ding, Grewal, Liechty (2005) OE vs. BDM Chinese dinner special Students (n = 108) OE 7% BDM 15% n.p. n.a. n.a. n.a. Kaas and Ruprecht (2006) OE vs. BDM Chocolate bar Students (n = 50) n.a. OE > BDM ** n.a. n.a. Silva, Nayga, Campbell, and Park (2007) OE vs. BDM Grapefruits Grocery store shop- pers (n = 245) n.a. OE > BDM * OE > BDM * n.a. Wertenbroch and Skiera (2002) OE vs. BDM Coke can, pound cake Beach visitors (n = 200), Ferry passengers (n = 200) n.a. OE > BDM *** OE > BDM n.p. n.a. * p < .10, ** p < .05, *** p < .01, n.p. = p-value not available, n.a. = not available a Percentage of correctly predicted choices in a holdout sample. b The study compared direct open-ended question-formats with (incentive OE) and without buying obligation (OE). The buying obligation was implemented by recording respondents’ names and telephone numbers. However, we are unsure if the buying obligation was actually carried out.

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How Should We Measure Consumers

Apr 06, 2018

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