I am using ACBC for my graduation project with the goal to find the most attractive attributes and/or levels for a certain product and the customers' WTP for these levels.
The attribute price will be the set as 'summed prices attribute' with either linear or log-linear distribution. The different levels I plan to use will also have a particular price per level.
My question now is: how do I express a WTP for a particular level?
Given the example, that attribute A has 3 levels. Level 1 incurs extra cost of 1€, Level 2 of 2€ and Level 3 of 3€. Further the part-worths would be as follows:
Level 1: -0.5
Level 2: 0
Level 3: 0.5
I can clearly state that Level 3 is prefered to L2 and L1 despite its higher cost. Thus the given part-worths from HB estimation can already be regarded as a trade-off to the inherent price of each level?
But how would I get the actual WTP from these results for a particular level?