Effects of Elicitation Method on Willingness-to-Pay: Evidence from the Field

摘要: This paper compares willingness-to-pay (WTP) estimates elicited using three separate methods: in-store experimental auctions, a mailed survey with cheap talk script included, and the same no script. The products in question were four steaks bearing hypothetical brands representing various brandable attributes. It is found that WTP auctions was lowest, followed by mail script, then Tobit double-hurdle econometric models are used to identify factors influencing respondents’ WTP; model results largely consistent previous findings.