I have a question on WTP calculation for a standalone and added services model.
I have calculated the individual part worth utilities based on CBC HB estimation.
As per the webinar, WTP = Price Range * (Attribute coefficient/Price Coeffient).
My price attribute levels are: $30, $60, $90, $120
The part worth utilities for the price points besides other service attributes are also calculated including the "None".
a) If I have to calculate the WTP for just subscribing to the service without any other features added, how should I approach this?
As per the formula, Price range = $90; Attribute coefficient of $30= X (lets say); Price coefficient = linear coefficient of this price range (calculated from CBC/HB). Is this the correct way?
b) Now, if for a service to be subscribed, now I add 2 different attribute levels - lets say A1, B1
How would the WTP be calculated with this combination? The formula seems to capture just one attribute's level.
Could you please help me with this?