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Beyond asking : exploring the use of automatic price evaluations to implicitly estimate consumers’ willingness-to-pay

Jasper Dezwaef (UGent) , Emiel Cracco (UGent) , Jelle Demanet (UGent) , Timothy Desmet and Marcel Brass (UGent)
(2019) PLOS ONE. 14(7).
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Abstract
Explicit consumers responses are often adverse for the validity of procedures used to estimate consumers' willingness-to-pay (WTP). This paper investigates if price evaluations occur automatically and to what extent these automatic processes can be used to implicitly estimate consumers' WTP. An adapted version of the task-rule congruency (TRC) paradigm was used in two studies. Results of the first study provided evidence for the notion that prices are automatically evaluated. However, the used procedure had limitations that restricted its utility as an implicit WTP estimate. The procedure was adjusted, and an additional study was conducted. The results of the second study also indicated that prices were evaluated automatically. Additionally, the procedure used during the second study allowed to explore to what extent the observed TRC effects could be used to implicitly estimate consumers' WTP. Taken together, these studies provided evidence for the notion that prices are evaluated automatically. Furthermore, the procedure has the potential to be further developed into an implicit estimate of consumers' WTP.
Keywords
TASK-RULE-CONGRUENCY, CONCEPTUAL-FRAMEWORK, ASSOCIATION TEST, INFORMATION, FAIRNESS, VALIDITY, PRODUCT, LIBRARY, CONTEXT

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Citation

Please use this url to cite or link to this publication:

MLA
Dezwaef, Jasper, et al. “Beyond Asking : Exploring the Use of Automatic Price Evaluations to Implicitly Estimate Consumers’ Willingness-to-Pay.” PLOS ONE, vol. 14, no. 7, 2019.
APA
Dezwaef, J., Cracco, E., Demanet, J., Desmet, T., & Brass, M. (2019). Beyond asking : exploring the use of automatic price evaluations to implicitly estimate consumers’ willingness-to-pay. PLOS ONE, 14(7).
Chicago author-date
Dezwaef, Jasper, Emiel Cracco, Jelle Demanet, Timothy Desmet, and Marcel Brass. 2019. “Beyond Asking : Exploring the Use of Automatic Price Evaluations to Implicitly Estimate Consumers’ Willingness-to-Pay.” PLOS ONE 14 (7).
Chicago author-date (all authors)
Dezwaef, Jasper, Emiel Cracco, Jelle Demanet, Timothy Desmet, and Marcel Brass. 2019. “Beyond Asking : Exploring the Use of Automatic Price Evaluations to Implicitly Estimate Consumers’ Willingness-to-Pay.” PLOS ONE 14 (7).
Vancouver
1.
Dezwaef J, Cracco E, Demanet J, Desmet T, Brass M. Beyond asking : exploring the use of automatic price evaluations to implicitly estimate consumers’ willingness-to-pay. PLOS ONE. 2019;14(7).
IEEE
[1]
J. Dezwaef, E. Cracco, J. Demanet, T. Desmet, and M. Brass, “Beyond asking : exploring the use of automatic price evaluations to implicitly estimate consumers’ willingness-to-pay,” PLOS ONE, vol. 14, no. 7, 2019.
@article{8623622,
  abstract     = {Explicit consumers responses are often adverse for the validity of procedures used to estimate consumers' willingness-to-pay (WTP). This paper investigates if price evaluations occur automatically and to what extent these automatic processes can be used to implicitly estimate consumers' WTP. An adapted version of the task-rule congruency (TRC) paradigm was used in two studies. Results of the first study provided evidence for the notion that prices are automatically evaluated. However, the used procedure had limitations that restricted its utility as an implicit WTP estimate. The procedure was adjusted, and an additional study was conducted. The results of the second study also indicated that prices were evaluated automatically. Additionally, the procedure used during the second study allowed to explore to what extent the observed TRC effects could be used to implicitly estimate consumers' WTP. Taken together, these studies provided evidence for the notion that prices are evaluated automatically. Furthermore, the procedure has the potential to be further developed into an implicit estimate of consumers' WTP.},
  articleno    = {e0219251},
  author       = {Dezwaef, Jasper and Cracco, Emiel and Demanet, Jelle and Desmet, Timothy and Brass, Marcel},
  issn         = {1932-6203},
  journal      = {PLOS ONE},
  keywords     = {TASK-RULE-CONGRUENCY,CONCEPTUAL-FRAMEWORK,ASSOCIATION TEST,INFORMATION,FAIRNESS,VALIDITY,PRODUCT,LIBRARY,CONTEXT},
  language     = {eng},
  number       = {7},
  pages        = {16},
  title        = {Beyond asking : exploring the use of automatic price evaluations to implicitly estimate consumers’ willingness-to-pay},
  url          = {http://dx.doi.org/10.1371/journal.pone.0219251},
  volume       = {14},
  year         = {2019},
}

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