Comparing methods for measuring consumer willingness to pay for a basic and an improved ready made soup product

Food Quality and Preference

Volumn 20, Issue 8, 2009, Pages 607-619

  Grunert, Klaus G ^a   Juhl, Hans Jørn ^a   Esbjerg, Lars ^a   Jensen, Birger Boutrup ^a   Bech Larsen, Tino ^a   Brunsø, Karen ^a   Madsen, Charlotte Øland ^a  

^a AARHUS SCHOOL OF BUSINESS   (Denmark)

Author keywords

Conjoint analysis; Contingent valuation; Experimental auction; Price information processing; Willingness to pay

Indexed keywords

EID: 69749099371     PISSN: 09503293     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.foodqual.2009.07.006     Document Type: Article

References (47)

1. Alfnes F., Guttormsen A.G., Steine G., and Kolstad K. Consumers' willingness to pay for the color of salmon: A choice experiment with real economic incentives. American Journal of Agricultural Economics 88 (2006) 1050-1061
2. Balderjahn I. Der Einsatz der Conjoint-Analyse zur empirischen Bestimmung von Preisresponsefunktionen. Marketing-ZFP 16 (1994) 12-20
3. Becker G.M., DeGroot M.H., and Marschak J. Measuring utility by a single response sequential method. Behavioural Science 9 (1964) 226-232
4. Boccaletti S., and Nardella M. Consumer willingness to pay for pesticide-free fresh fruit and vegetables in Italy. International Food and Agribusiness Management Review 3 (2000) 297-310
5. Briesch R.A., Krishnamurthi L., Mazumdar T., and Raij S.P. A comparative analysis of reference price models. Journal of Consumer Research 24 (1997) 202-214
6. Bronnenberg B.J., and Vanhonacker W.R. Limited choice sets, local price response, and implied measures of price competition. Journal of Marketing Research 33 (1996) 163-173
7. Caswell J.A. Valuing the benefits and costs of improved food safety and nutrition. Australian Journal of Agricultural and Resource Economics 42 (1998) 409-424
8. Celsi R.L., and Olson J.C. The role of involvement in attention and comprehension processes. Journal of Consumer Research 15 (1988) 210-224
9. Dickson P.R., and Sawyer A.G. The price knowledge and search of supermarket shoppers. Journal of Marketing 54 3 (1990) 42-53
10. Gil J.M., Gracia A., and Sánchez M. Market segmentation and willingness to pay for organic products in Spain. International Food and Agribusiness Management Review 3 (2000) 207-226
11. Green P.E., and Rao V.R. Conjoint measurement for quantifying judgmental data. Journal of Marketing Research 8 (1971) 355-363
12. Green P.E., and Srinivasan V. Conjoint analysis in consumer research: Issues and outlook. Journal of Consumer Research 5 (1978) 103-123
13. Green P.E., and Srinivasan V. Conjoint analysis in marketing: New developments with implications for research and practice. Journal of Marketing 54 4 (1990) 3-19
14. Grunert K.G. Automatic and strategic processes in advertising effects. Journal of Marketing 60 4 (1996) 88-101
15. Grunert, K. G., Madsen, C. Ø., Juhl, H. J., Bech-Larsen, T., Brunsø, K., & Jensen, B. B. (2005). Comparing methods for measuring consumer willingness to pay: A cognitive perspective. Paper presented at the Annual Conference of the European Marketing Academy, Milan, May 24-27, 2005.
16. Haaijer R., and Wedel M. Conjoint choice experiments: General characteristics and alternative model specifications. In: Gustafsson A., Herrmann A., and Huber F. (Eds). Conjoint measurement (2001), Springer, Berlin 345-386
17. Harrison G.W. Experimental evidence on alternative environmental valuation methods. Environmental and Resource Economics 34 (2006) 125-162
18. Hartigan J.A. Clustering algorithms (1975), Wiley, New York
19. Helsen K., and Schmittlein D. Understanding price effects for new nondurables: How price responsiveness varies across depth-of-repeat classes and types of consumers. European Journal of Operational Research 76 (1994) 359-374
20. Helson H. Adaptation level theory (1964), Harper & Row, New York, NY
21. Jacoby J., and Olson J.C. Consumer response to price. An attitudinal, information processing perspective. In: Wind Y., and Greenberg B. (Eds). Moving ahead with attitude research (1977), American Marketing Association, Chicago 73-84
22. Jaeger S.R., Lusk J.L., House L.O., Valli C., Moore M., Morrow B., et al. The use of non-hypothetical experimental markets for measuring the acceptance of genetically modified foods. Food Quality and Preference 15 (2004) 701-714
23. Jensen, B. B. (2001). Consumers' price awareness at the point-of-selection: What constitutes the most appropriate measure of consumers' price awareness and what determines the differences? Paper presented at the 2001 Fordham University Pricing Conference, New York, November 2-3, 2001.
24. Johannesson M., Liljas B., and O'Conor R.M. Hypothetical versus real willingness to pay: Some experimental results. Applied Economic Letters 4 (1997) 149-151
25. Lange C., Martin C., Chabanet C., Combris P., and Issanchou S. Impact of the information provided to consumers on their willingness to pay for champagne: Comparison with hedonic scores. Food Quality and Preference 13 (2002) 597-608
26. Lee K.H., and Hatcher C.B. Willingness to pay for information: An analyst's guide. Journal of Consumer Affairs 35 (2001) 120-140
27. Lichtenstein D.R., Ridgway N.M., and Netemeyer R.G. Price perceptions and consumer shopping behavior: A field study. Journal of Marketing Research 30 (1993) 234-245
28. List J.A., and Gallet C.A. What experimental protocol influence disparities between actual and hypothetical stated values?. Environmental and Resource Economics 20 (2001) 241-254
29. Loomis J., Brown T., Lucero B., and Paterson G. Improving validity experiments of contingent valuation methods: Results of efforts to reduce the disparity of hypothetical and actual willingness to pay. Land Economics 72 (1996) 450-461
30. Louviere J.J., Hensher D.A., and Swait J.D. Stated choice methods: Analysis and application (2000), Cambridge University Press, Cambridge
31. Lusk J.L., and Schroeder T.C. Are choice experiments incentive compatible? A test with quality differentiated beef steaks. American Journal of Agricultural Economics 86 2 (2004) 467-482
32. McFadden D. Contingent valuation and social choice. American Journal of Agricultural Economics 76 (1994) 689-708
33. Portney P.R. The contingent valuation debate: Why economist should care. The Journal of Economic Perspectives 8 4 (1994) 3-17
34. Posavac S.S. Overbidding in value elicitation: When consumers report inflated reservation prices, and what to do about it. Journal of Consumer Psychology 11 (2001) 87-97
35. Rosen S. Hedonic prices and implicit markets: Product differentiation in pure competition. Journal of Political Economy 82 (1974) 34-55
36. Sherif C.W. Social categorization as a function of latitude of acceptance and series range. Journal of Abnormal and Social Psychology 67 (1963) 148-156
37. Stefani G., Romano D., and Cavicchi A. Consumper expectations, liking and willingness to pay for specialty foods: Do sensory characteristics tell the whole story?. Food Quality and Preference 17 (2006) 53-62
38. Tversky A., and Kahneman D. Loss aversion in riskless choice. A reference dependent model. Quarterly Journal of Economics 107 (1991) 1039-1061
39. Urbany J.E., Dickson P.R., and Kalapurakal R. Price search in the retail grocery market. Journal of Marketing 60 2 (1996) 91-104
40. Vanhuele, M. & Drèze, X. (2002). Measuring the price knowledge shoppers bring to the store. Journal of Marketing, 66(4), 72-85.
41. Vermunt J.K., and Magidson J. Latent GOLD 4.0 user's guide (2005), Statistical Innovations Inc., Belmont, MA
42. Vickrey, W. (1961). Counter speculation, auctions and competitive sealed tenders. Journal of Finance, 16, 8-37.
43. Voelckner F. An empirical comparison of methods for measuring consumers' willingness to pay. Marketing Letters 17 (2006) 137-149
44. Wakefield K.L., and Inman J.J. Who are the price vigilantes? An investigation of differentiating characteristics influencing price information processing. Journal of Retailing 69 (1993) 216-233
45. Wertenbroch K., and Skiera B. Measuring consumers' willingness to pay at the point of purchase. Journal of Marketing Research 39 (2002) 228-241
46. Winer R.S. A reference price model of brand choice for frequently purchased products. Journal of Consumer Research 13 (1986) 250-256
47. Wittink D.R., and Cattin P. Commercial use of conjoint analysis: An update. Journal of Marketing 53 3 (1989) 91-96