The WTP Report
When the WTP simulation finishes, the following is displayed:
Respondent Count |
352 |
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WTP |
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Brand |
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JVC |
N/A (Reference Level) |
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RCA |
$48.35 |
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Sony |
$63.66 |
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Size |
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25" |
N/A (Reference Level) |
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26" |
$33.20 |
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27" |
$65.75 |
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Sound |
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Mono |
N/A (Reference Level) |
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Stereo |
$90.21 |
*5.9% of the sampling draws involved extrapolated values |
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Surround |
$157.95 |
*47.1% of the sampling draws involved extrapolated values |
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Channel Blockout |
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No |
N/A (Reference Level) |
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Channel Blockout |
$56.73 |
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Picture in Picture |
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No |
N/A (Reference Level) |
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Picture-in-Picture |
$65.30 |
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By default, the least preferred levels within each attribute are set as the reference levels.
For example, changing a product from JVC to RCA leads to an increase in Willingness to Pay of $48.35.
Sometimes (depending on the utility data, the sampling of the WTP product, and competitors' characteristics), WTP values need to be extrapolated to drive the share of preference for the enhanced WTP product back to its base case share of preference. If extrapolation needed to be used for any of the sampling draws, a warning appears indicating for what percent of the sampled draws the WTP value caused price to exceed the range included in your experiment. Extrapolated values should be interpreted with caution.
With some data sets (especially if a significant number of price utilities are reversed for respondents) you will also see a message that WTP could not converge. This occurs when raising the price of an enhanced product cannot drive its price back to its original share (prior to enhancement), despite the degree of extrapolation the algorithm tries.
