Hi,
I have a question regarding WTP calculation in my research. I've calculated the WTP of the levels of each attribute that I used in the CBC survey. I included 7 fresh fruit attributes in the survey (including price) and each attribute consists of 2-3 levels. I have also segmented respondents using Latent Class analysis to find out the differences in preferences and WTP of each group, where the results of this LC analysis resulted in 7 segments of respondents. I've calculated the WTP using the market simulator in lighthouse studio version 9.11.0, and run it all by default with the simulation method is Share of Preference, and the Behavior Range is Willingness to Pay. However, what bothered me, I found that there were several levels in some segments where the WTP value was very high, exceeding the reasonable price. These levels, indeed have a high utility value far compared to levels on other attributes. Is it possible in the calculation of WTP? Or maybe I did something wrong when I did the calculation using the software? Because I think consumers may not be willing to pay a kilogram of fresh fruit for more than 34 USD, with a relatively low income level in my research location.
Thank you..