Dear Sawtooth Software Team,
I conducted a CBC with price ranges: -30%, -10%, +10% and +30%.
I have a base price of 2 Dollars. The "shown price" in my CBC task was the base price calculated with the different ranges. Furthermore each individual had their own prices regarding how long their trip lenght was.
So the total prices was different for every proband.
My question:
Can I use the midpoint formula by calculation the base price with the ranges and use it as p? E.g. p1 ( +10% of 2 Dollars) = 2,2 Dollars and p2 (+30% of 2 Dollars) = 2,6 Dollars?
Or do I have to use another formula?
Thank you very much!
Best regards
Liz