Volume - 13 | Issue-1
Volume - 13 | Issue-1
Volume - 13 | Issue-1
Volume - 13 | Issue-1
Volume - 13 | Issue-1
The first article on WTP (willingness to pay) was published by Kohli and Mahajan 1991; Klingemann, Kim, Füller, 2019; Ke, Khanna, Zhou, 2022) with a conjoint analytical framework. According to them, WTP is “An assumption that the consumer has a reservation on price for a new product determined by his or her (estimated) utility for the product in relationship to the price and utility for his or her most preferred product among all product offerings in his or her induced set