Medieninsider: Mr. Bauer, there is much debate in the media industry about whether and what customers are willing to pay for journalism. You say there is no such thing as willingness to pay. How would you frame it?Florian Bauer: The term willingness to pay is psychologically completely misleading. Microeconomic theory assumes that people have a maximum price in mind that they are willing to pay. This would then be predefined, and companies could only react to it. But people don’t operate like that, most of them don’t know in advance what they would pay as a maximum. They have a less rational approach to prices and decide much more spontaneously, but quite predictably. That’s why we talk about price acceptance.
Origen: There is no ‘willingness to pay’ in journalism | by Medieninsider | Feb, 2022 | Medium
