Faculty of Economics and Business Administration Publications Database

You Might not Get what You Ask for: Evidence for and Im-pact of Non-WTP Reporting in Willingness-to-Pay Surveys

Hofstetter, Reto
Blatter, David
Volume: 40
Pages: 887 - 888
ISSN-Print: 0098-9258
Link External Source: Online Version
Year: 2012

Price-generation tasks are widely used to measure consumers’ willingness-to-pay (WTP). Despite their simplicity and flexibility, we find that consumers often face difficulties to correctly perform such tasks. Specifically, consumers’ who lack ability and motivation are likely to engage in satisficing behavior, which has negative effects on external validity of measures.