Experiments on the divergence between willingness to pay and willingness to accept: The issue revisited

Rodolfo M. Nayga; Richard T. Woodward; Wipon Aiew

Experiments on the divergence between willingness to pay and willingness to accept: The issue revisited

Rodolfo M. Nayga, Richard T. Woodward, Wipon Aiew

Research output: Contribution to journal › Article › peer-review

Abstract

Many empirical studies have discovered large discrepancies between willingness to pay (WTP) and willingness to accept (WTA) measures. This paper revisits the WTP and WTA divergence issue using a non-hypothetical market experiment, actual products, cash, and exchange in a market setting. We find WTA/WTP ratios that are significantly lower than most such studies.

Original language	English
Journal	Economics Bulletin
Volume	17
Issue number	1
Publication status	Published - 2005
Externally published	Yes

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title = "Experiments on the divergence between willingness to pay and willingness to accept: The issue revisited",

abstract = "Many empirical studies have discovered large discrepancies between willingness to pay (WTP) and willingness to accept (WTA) measures. This paper revisits the WTP and WTA divergence issue using a non-hypothetical market experiment, actual products, cash, and exchange in a market setting. We find WTA/WTP ratios that are significantly lower than most such studies.",

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AB - Many empirical studies have discovered large discrepancies between willingness to pay (WTP) and willingness to accept (WTA) measures. This paper revisits the WTP and WTA divergence issue using a non-hypothetical market experiment, actual products, cash, and exchange in a market setting. We find WTA/WTP ratios that are significantly lower than most such studies.

UR - https://www.scopus.com/pages/publications/33750561331

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SN - 1545-2921

VL - 17

JO - Economics Bulletin

JF - Economics Bulletin

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Experiments on the divergence between willingness to pay and willingness to accept: The issue revisited

Abstract

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