Hi there,
I am a bit confused due to an WTP estimate.
I have estimated that for a change from status quo level to Level 1 of one of my categorical attributes the WTP is 3,7% more. But adding this 3,7% more to the status quo price of 1,6% it is 5,3% - confusion comes in because the highest price level in the CBC was 4,8%.
Can this estimation be right even if 5,3% exceeds the highest shown price level of 4,8%?
Any advice is highly appreciated!
Thanks and best,
J.