This study compares the performance of four commonly used approaches to measure consumers’ willingness to pay (WTP) to real purchase data (REAL): the open-ended question format (OE), choice-based conjoint analysis (CBC), the incentive-compatible mechanism proposed by Becker, DeGroot, and...

"Modern commercial landscapes are characterized by rapidly evolving markets, and this authoritative Encyclopedia acts as an essential navigational guide to such changeable consumer environments. This Encyclopedia provides an overview of crucial subjects within the study of consumer behavior,...