Hi,
please mind english is not my native language so if there are any misconceptions just ask.
So I am trying to figure out the WTP in my study. I noticed that I have a pretty high "none" rate (~40 %).
My most important attributes are price per month (38%) and public transport (33%).
Afaik u should choose the market simulator to estimate the wtp. So I made 2 products with the same attribute levels except the PT attribute and the price attribute to measure the wtp for PT right? The result would mean that people are a lot more willing to pay for PT then I would have assumed (I assumed ~100€ compared the the result ~270€).
Next question is: I have tried to "teach" 50% of people having a car, about the monthly costs of owning a car. The reason is, that i wanted to check if there would be any effect on the WTP. So I have a segment now which indicates me if a person was "teached".
First of all the result on measuring the WTP for PT in the segmentation part is over all higher but the share of preference is very low (~10% per product) and the none option has 80%.
Am I doing things wrong? Was my study design poor? Need help because I am pretty late with my thesis :(
Willingness-to-Pay with high none option
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