Willingness-to-pay estimation with choice-based conjoint analysis: addressing extreme response behavior with individually adapted designs Gensler, Sonja, Hinz, Oliver, Skiera, Bernd and Theysohn, Sven 2012, Willingness-to-pay estimation with choice-based conjoint analysis: addressing extreme response behavior with individually adapted designs, European Journal of Operational Research, vol. 219, no. 2, pp. 368-378, doi: 10.1016/j.ejor.2012.01.002. Attached Files Name Description MIMEType Size Downloads Title Willingness-to-pay estimation with choice-based conjoint analysis: addressing extreme response behavior with individually adapted designs Author(s) Gensler, Sonja Hinz, Oliver Skiera, Bernd orcid.org/0000-0001-9285-2013 Theysohn, Sven Journal name European Journal of Operational Research Volume number 219 Issue number 2 Start page 368 End page 378 Total pages 11 Publisher Elsevier Place of publication Amsterdam, The Netherlands Publication date 2012-06-01 ISSN 0377-2217 Keyword(s) choice-based conjoint analysis willingness to pay marketing research Summary The increasing consideration of behavioral aspects in operations management models has prompted greater use of choice-based conjoint (CBC) studies in operations research. Such studies can elicit consumers’ willingness to pay (WTP), a core input for many optimization models. However, optimization models can yield valid results only if consumers’ WTP is estimated accurately. A simulation study and two field studies show that extreme response behavior in CBC studies, such that consumers always or never choose the no-purchase option, harms the validity of WTP estimates. Reporting the share of consumers who always and never select the no-purchase option allows for detecting extreme response behavior. This study suggests an individually adapted design that avoids extreme response behavior and thus significantly improves WTP estimation accuracy. Language eng DOI 10.1016/j.ejor.2012.01.002 Indigenous content off Field of Research 150599 Marketing not elsewhere classified Socio Economic Objective 970115 Expanding Knowledge in Commerce HERDC Research category C1.1 Refereed article in a scholarly journal ERA Research output type C Journal article Copyright notice ©2012, Elsevier Persistent URL http://hdl.handle.net/10536/DRO/DU:30091181 Document type: Journal Article Collections: Faculty of Business and Law Department of Marketing 2018 ERA Submission Related Links Link Description Connect to Elements publication management system Go to link with your DU access privileges   Connect to published version Go to link with your DU access privileges     Unless expressly stated otherwise, the copyright for items in DRO is owned by the author, with all rights reserved. Versions Version Filter Type Fri, 10 Feb 2017, 10:23:41 EST Fri, 24 Feb 2017, 14:30:43 EST Sat, 25 Feb 2017, 04:00:08 EST Sat, 25 Feb 2017, 05:07:21 EST Wed, 08 Mar 2017, 12:21:28 EST Wed, 08 Mar 2017, 12:25:08 EST Sat, 17 Jun 2017, 02:53:17 EST Wed, 21 Jun 2017, 10:39:05 EST Sat, 20 Jan 2018, 01:30:15 EST Thu, 03 Mar 2022, 11:46:52 EST Mon, 07 Mar 2022, 13:43:14 EST Filtered Full Citation counts:   Cited 32 times in TR Web of Science Cited 41 times in Scopus Search Google Scholar Access Statistics: 478 Abstract Views, 7 File Downloads  -  Detailed Statistics Created: Fri, 24 Feb 2017, 14:30:43 EST