Daria Semenova, PhD student at the National Research University Higher School of Economics-Perm and IDLab employee, presented the study "Measuring effects of packaging on willingness-to-pay for chocolate: evidence from EEG experiment"
Daria's dissertation research uses an innovative neuroscience approach to analyze an individual's preferences and willingness to pay (WTP) for a particular commodity, in this case chocolate. The study uses electroencephalography (EEG), which is a cheap and efficient method to evaluate neurophysiological reactions. Thus, in this work, the existing models for estimation of the willingness to pay are supplemented by EEG neurometry data. The proposed WTP model was applied to investigate the impact of chocolate packaging. This was achieved by comparing the WP reported by respondents when they were introduced to the chocolate packaging with the WP estimates obtained from a model based on data from blind experiments when respondents were unaware of the properties of the product. The revealed difference is likely to reflect packaging effects on chocolate WTP and confirms strong packaging effects for well-known brands.ds.