Estimation of willingness-to-payTheory, Measurement, and Application
Author: Breidert, Christoph
With a foreword of Prof. Dr. Thomas Reutterer.
2006. xx, 135 pp. With 32 Fig. and 17 Tab.
Dissertation Wirtschaftsuniversität Wien 2005 Softc.
ISBN: 3-8350-0399-2
From Oktober 2002 to March 2005 I did my PhD at the Department of Information Business, Vienna University of Economics and Business Administration. The first suppervisor was o. Univ. Prof. Dkfm. Dr. Wolfgang H. Janko. The secondary supervisor was a.o. Prof. Dr. Thomas Reutterer. On this page parts of my dissertation are shown. The work is published at DUV (Deutscher Universitäts-Verlag).
Abstract
Acknowledgements
Contents
1 Introduction
1.1 Research Intention
1.2 Structure of the Thesis
2 Pricing
2.1 Pricing in the Marketing-Mix
2.2 Sample Applications of Pricing Studies
2.3 Product Bundling
2.4 Summary
3 Willingness-to-Pay (WTP) in Marketing
3.1 Maximum Price
3.2 Reservation Price
3.3 Willingness-to-pay
3.4 Treatment of Willingness-to-Pay in Marketing
3.5 Linearity and Parallelism of Different Concepts
3.6 Excursion: Economic Theory on Reservation Price
3.7 Excursion: Cardinal vs. Ordinal Utility
3.8 Summary
4 Measuring Willingness-to-Pay
4.1 Classification of Methods
4.2 Analysis of Market Data
4.3 Experiments
4.3.1 Vickrey Auction
4.3.2 Becker, DeGroot and Marshak Procedure
4.4 Direct Surveys
4.4.1 Expert judgements
4.4.2 Customer Surveys
4.5 Indirect Surveys
4.5.1 Conjoint Analysis
4.5.2 Discrete Choice Analysis
4.5.3 Hierarchical Bayes
4.6 Empirical Evidence
4.7 Summary
5 Conjoint Analysis
5.1 Introduction
5.2 Full profile
5.3 Trade-Off Method
5.4 Self-Explicated Methods
5.5 Hybrid Models
5.6 Adaptive Conjoint Analysis
5.7 Integrating Estimation of Willingness-to-pay
5.8 Summary
6 Conjoint Analysis in Pricing Studies
6.1 Introduction
6.2 Selected Publication on the Estimation of Willingness-to-Pay
6.3 Identifying Problems of Current Approaches
6.3.1 Theoretical Problems
6.3.2 Practical Problems
6.3.3 Estimation Problems
6.4 Summary
7 Price Estimation Scene (PE Scene)
7.1 Presentation to the Respondent
7.2 Estimation of Willingness-to-Pay and Selection of Product Stimuli
7.3 Example of one Respondent
7.4 Summary
8 Empirical Investigation: Nokia study
8.1 Conjoint Design
8.2 Online Interview
8.3 Estimations of Willingness-to-Pay
8.4 Simulating Customer Choice Under Different Bundling Strategies
8.4.1 One Bundle Under Pure Bundling
8.4.2 N Bundles Under Pure Bundling
8.4.3 One Bundle Under Mixed Bundling
8.4.4 N Bundles Under Mixed Bundling
8.5 Summary
9 Summary and Main Findings
9.1 Summary
9.2 Empirical Results
9.3 Outlook and Future Research
A Screenshots jAC
Bibliography
List of Figures
List of Tables
Glossary
Acknowledgements
Contents
1 Introduction
1.1 Research Intention
1.2 Structure of the Thesis
2 Pricing
2.1 Pricing in the Marketing-Mix
2.2 Sample Applications of Pricing Studies
2.3 Product Bundling
2.4 Summary
3 Willingness-to-Pay (WTP) in Marketing
3.1 Maximum Price
3.2 Reservation Price
3.3 Willingness-to-pay
3.4 Treatment of Willingness-to-Pay in Marketing
3.5 Linearity and Parallelism of Different Concepts
3.6 Excursion: Economic Theory on Reservation Price
3.7 Excursion: Cardinal vs. Ordinal Utility
3.8 Summary
4 Measuring Willingness-to-Pay
4.1 Classification of Methods
4.2 Analysis of Market Data
4.3 Experiments
4.3.1 Vickrey Auction
4.3.2 Becker, DeGroot and Marshak Procedure
4.4 Direct Surveys
4.4.1 Expert judgements
4.4.2 Customer Surveys
4.5 Indirect Surveys
4.5.1 Conjoint Analysis
4.5.2 Discrete Choice Analysis
4.5.3 Hierarchical Bayes
4.6 Empirical Evidence
4.7 Summary
5 Conjoint Analysis
5.1 Introduction
5.2 Full profile
5.3 Trade-Off Method
5.4 Self-Explicated Methods
5.5 Hybrid Models
5.6 Adaptive Conjoint Analysis
5.7 Integrating Estimation of Willingness-to-pay
5.8 Summary
6 Conjoint Analysis in Pricing Studies
6.1 Introduction
6.2 Selected Publication on the Estimation of Willingness-to-Pay
6.3 Identifying Problems of Current Approaches
6.3.1 Theoretical Problems
6.3.2 Practical Problems
6.3.3 Estimation Problems
6.4 Summary
7 Price Estimation Scene (PE Scene)
7.1 Presentation to the Respondent
7.2 Estimation of Willingness-to-Pay and Selection of Product Stimuli
7.3 Example of one Respondent
7.4 Summary
8 Empirical Investigation: Nokia study
8.1 Conjoint Design
8.2 Online Interview
8.3 Estimations of Willingness-to-Pay
8.4 Simulating Customer Choice Under Different Bundling Strategies
8.4.1 One Bundle Under Pure Bundling
8.4.2 N Bundles Under Pure Bundling
8.4.3 One Bundle Under Mixed Bundling
8.4.4 N Bundles Under Mixed Bundling
8.5 Summary
9 Summary and Main Findings
9.1 Summary
9.2 Empirical Results
9.3 Outlook and Future Research
A Screenshots jAC
Bibliography
List of Figures
List of Tables
Glossary
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