Are Consumers Willing to Pay More for Biodegradable Containers Than for Plastic Ones? Evidence from Hypothetical Conjoint Analysis and Nonhypothetical Experimental Auctions
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This study used and compared hypothetical conjoint analysis and nonhypothetical experimental auctions to elicit floral customers’ willingness to pay for biodegradable plant containers. The results of the study show that participants were willing to pay a price premium for biodegradable containers, but the premium is not the same for different types of containers. This article also shows the mixed ordered probit model generates more accurate results when analyzing the conjoint analysis Internet survey data than the ordered probit model.