Authors: V. Shpyrko, PhD in Economics, Associate Professor, ORCID ІD 0000-0003-4955-2685,
I. Iarmolenko, PhD student, ORCID ІD 0000-0002-4764-6146, Taras Shevchenko National University of Kyiv, Kyiv, Ukraine
Abstarct: This article presents a method for conducting a marketing research aiming to evaluate statistics of a “Willingness-to-Pay” random variable distribution. Similarly, this approach can be used for evaluating minimal price a customer is ready to sell a good for. Since a general survey tends to bring bias into WTP evaluation, we suggest reducing psychological pressure while asking a single question “Would you buy this product for X amount of money?”. Continue reading