Questionnaire measures of consumers’ willingness to pay (WTP) and price sensitivity are biased, yet these declarative methods can aid managerial decision making. Additional choices involve which question formats to use (open-ended or discrete choice) and how many questions (unique versus multiple). This article seeks to inform such choices for online data collection with an empirical evaluation of the size of the bias induced by four methods (price acceptability, price judgments, multiple and single discrete choices) in a realistic choice context.
DESMET, P. (2016). Effectiveness of Measures Assessing Response to Price Information. Journal of Product and Brand Management, 25(7), pp. 676-686.