Elicitation of willingness to pay for upgradeable products with calibrated auction-conjoint method

Valeriia Lobasenko and Daniel Llerena ()
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Valeriia Lobasenko: GAEL - Laboratoire d'Economie Appliquée de Grenoble - Grenoble INP - Institut polytechnique de Grenoble - Grenoble Institute of Technology - INRA - Institut National de la Recherche Agronomique - CNRS - Centre National de la Recherche Scientifique - UGA [2016-2019] - Université Grenoble Alpes [2016-2019], UGA UFR FEG - Université Grenoble Alpes - Faculté d'Économie de Grenoble - UGA [2016-2019] - Université Grenoble Alpes [2016-2019]
Daniel Llerena: UGA UFR FEG - Université Grenoble Alpes - Faculté d'Économie de Grenoble - UGA [2016-2019] - Université Grenoble Alpes [2016-2019], GAEL - Laboratoire d'Economie Appliquée de Grenoble - Grenoble INP - Institut polytechnique de Grenoble - Grenoble Institute of Technology - INRA - Institut National de la Recherche Agronomique - CNRS - Centre National de la Recherche Scientifique - UGA [2016-2019] - Université Grenoble Alpes [2016-2019]

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Abstract: Understanding consumer preferences is a key element of new product development and sustainable consumption. Among sustainable products, we consider new products with upgradability properties. Upgradeability helps to prolong the lifespan of a product, satisfying changing consumer preferences and needs. This additional created value must be measured by willingness to pay premiums. This paper uses a method which valorizes each attribute of the product and analyzes the determinants of these premiums. A key advantage of the calibrated auction-conjoint method is the possibility of estimating numerous attributes with a large number of attribute levels. The results support the idea that consumers are willing to pay premiums for upgradeable, sustainable products, although these premiums are rather weak for some durable products in the study.

Keywords: preferences; willingness to pay; eco-innovation; sustainable consumption; upgradeable products (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (2)

Published in Journal of Environmental Planning and Management, 2017, 60 (11), pp.2036-2055. ⟨10.1080/09640568.2016.1271776⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-01546300

DOI: 10.1080/09640568.2016.1271776

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