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How to convert multi price coeficient into single linier?

Dear All,
I've got 3 price part-worth utility from CBC, for example:
price1    1,8762
price2    0,3222
price3  -0,2211

On some paper using CE, there are only 1 price coeff, so can directly counting WTP value (common method). How I can convert those 3 price utility coefficient into 1 linear price coeff?
asked Aug 14, 2020 by yustian (280 points)

1 Answer

0 votes
If using our logit, latent class, or HB analysis procedures, click the Setting icon and then click Attribute Coding.  Use the drop-down menu next to each attribute to select "Linear" for the coding of that attribute.  Specify "Level Values" in the grid that displays to associate level values with price levels that are proportionate to the prices actually displayed for each attribute level.  For example, if the prices shown to respondents were
$1.00
$2.50
$3.50

Then you should specify price Levels of 1, 2.5, and 3.5.

If using HB estimation, be careful not to specify too large of units for the price values in linear price estimation, or you will get poor convergence.  For example, don't use a range bigger than about 10 units in the Price Values.  So, if your prices shown to respondents were
100
250
350

Then in would be better to specify price values of
1.0
2.5
3.5
to associate with your price attribute.  Just remember that the same units that you specify as price values must be used to interpret the price coefficients and must be used when specifying prices in the market simulator.
answered Aug 14, 2020 by Bryan Orme Platinum Sawtooth Software, Inc. (198,715 points)
Thank You so much for very clear explanation...

Unfortunately, my SSI academic grant just ended, so I can't use Lighhouse Studio to analyse my data anymore.

Is it any solution to do this in excel?
If you are a masters or PhD student working to finish an academic project, then there is a good chance your academic grant can be extended.   Please write support@sawtoothsoftware.com and see if something can be done.
What a good news, Thank You so much Mr. Orme
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