Estimating Willingness-to-pay with Choice-based Conjoint Analysis - Can Consumer Characteristics Explain Variations in Accuracy?
评估选择联合分析在个体层面测量支付意愿的准确性，并检验消费者参与度、品牌意识和偏好强度能否解释估计误差，发现该方法严重高估真实支付意愿且消费者特征无法提高准确性。
Knowing consumers' willingness to pay (WTP) is crucial for making effective pricing decisions. We assess the accuracy of choice-based conjoint analysis (CBCA), a method strongly supported by behavioural theory, in the context of WTP measurement at the individual level. Furthermore, we analyse whether variations in the accuracy of WTP estimates derived by CBCA can be explained by consumers' involvement, brand awareness and the strength of consumer preferences. The results show that CBCA does not provide accurate WTP estimates and, on average, grossly overestimates the true WTP of consumers. No empirical evidence can be found that consideration of the above-mentioned consumer characteristics results in more accurate WTP values.