Can you please help me how to calculate the WTP in my survey. I've read a lot but can barely understand anything.
Here some utilities from my logit model as an example:
Distance
0-50 km = 0,57950
50-150 km = 0,03412
150+ km = -0,61290
Price
500 € = 0,47323
1.000 € = -0,04796
1.250 € = -0,42527
Price linear = -0,45554
I already calculated as an example (because i've read it somewhere): Distance 0-50km/ price linear = -((0,57950)/ (-0,45554)) = 1,27
So it means that I have a WTP = 1,27€?
If you can give me another method I would be very grateful. Thank you!!