Willingness to Pay: a Contextualized Method of Valuation
Despite its practical importance, the WTP metric is surprisingly impoverished in its conceptualization and measurement. In this paper, we clarify that consumers’ WTP is best understood as a distributional concept that varies among contexts, comparisons and consumers. We introduce a new methodology to measure WTP: the Contextualized Method of Valuation.
Citation:
Sharlene He, Eric T. Anderson, and Derek Rucker (2018) ,"Willingness to Pay: a Contextualized Method of Valuation", in NA - Advances in Consumer Research Volume 46, eds. Andrew Gershoff, Robert Kozinets, and Tiffany White, Duluth, MN : Association for Consumer Research, Pages: 328-332.
Authors
Sharlene He, Concordia University, Canada
Eric T. Anderson, Northwestern University, USA
Derek Rucker, Northwestern University, USA
Volume
NA - Advances in Consumer Research Volume 46 | 2018
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