Measuring Consumers' Willingness to Pay at the Point of Purchase

By Klaus Wertenbroch, Bernd Skiera. 2002

777 citations recorded by the source corpus.

Subfields: Economics and Econometrics, General Decision Sciences, Marketing

View Paper: https://www.semanticscholar.org/paper/bf236b913e237430c86549591d5f9c45668b74de

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

1. Martin Schreier
2. Marine Le Gall-Ely
3. Nikolaus Franke
4. Franziska Voelckner
5. M. Zeelenberg
6. Ulrike Kaiser
7. Bernd Skiera
8. Klaus Wertenbroch

In General Decision Sciences

1. Martin Schreier
2. Marine Le Gall-Ely
3. Nikolaus Franke
4. Ulrike Kaiser
5. Franziska Voelckner
6. M. Zeelenberg
7. Bernd Skiera
8. Ziv Carmon

In Marketing

1. Martin Schreier
2. Nikolaus Franke
3. Marine Le Gall-Ely
4. Ulrike Kaiser
5. Franziska Voelckner
6. Bernd Skiera
7. M. Zeelenberg
8. Klaus Wertenbroch

Citations in the corpus

• Product uniqueness as a driver of customer utility in mass customization (2008, methodology): “…non-hypothetical, incentive-compatible methods of measuring consumers' WTP have been found to produce highly valid results (Noussair, Robin, and Ruffieux 2004) and are superior to hypothetical, non-incentive-compatible alternatives (e.g., contingent valuation methods; Wertenbroch and Skiera 2002).”
• The "I Designed It Myself" Effect in Mass Customization (2010, methodology): “This procedure ensures theoretical incentive compatibility: prices are exogenous to the subjects’ WTP (unlike in other methods such as English auctions, bidders cannot directly influence the price paid; Kagel 1995, Wertenbroch and Skiera 2002).”
• Measuring individual frictional costs and willingness-to-pay via name-your-own-price mechanisms (2004, background): “At the same time, such individual bids could make a more exact statement about the individual WTP than genuinely revealed preferences, since prices normally do not vary significantly in the case of the latter (e.g., Ben-Akiva et al., 1994; Wertenbroch & Skiera, 2002).”
• Definition, Measurement and Determinants of the Consumer's Willingness to Pay: A Critical Synthesis and Avenues for Further Research (2009, methodology): “Comparative studies in marketing have all revealed differences in estimations between methods (Wertenbroch and Skiera, 2002; Blackhaus et al., 2005; Völkner, 2006; Kaas and Ruprecht, 2006; Le Gall-Ely and Heuzé, 2008).”
• Why Customers Value Mass-customized Products: The Importance of Process Effort and Enjoyment (2010, neutral): “, WTP) (Wertenbroch and Skiera, 2002).”
• Reservation Price as a Range: An Incentive-Compatible Measurement Approach (2007, methodology): “ICERANGE respondents were also allowed to revise their floor reservation price estimates, similar to those in Desaigues and Rabl’s (1995, on contingent valuation) study and in BDM (Wertenbroch and Skiera 2002).”