I read the cautions about the WTP calculation both on research paper and on forum, but I still wanted to ask if there is a source where I could read about how to calculate the WTP. I have included the price as an attribute to my survey and aimed to use it for WTP calculations, thus without the WTP, I am having difficulties to interpret the use of price as an attribute. I was planning to use the price to calculate WTP for segments that are developed based on the results. But I got sort of stuck with this, as I am using HB estimation and Ensemble analysis (CCEA). I couldn't figure out how to calculate it based on HB estimation and CCEA outputs.
Could you provide me any info about calculating WTP based on HB estimation and if possible for further segmentations.
I couldn't find any source that would help me to describe how to do that. Any other suggestion to help me tackle this issue about the implementation of the price without using it to calculate for WTP would also be valuable.
I am using SSI Web built in HB estimation.
Thank you.