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

Rodolfo M. Nayga; Richard Woodward; Wipon Aiew

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

Rodolfo M. Nayga, Richard 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

ASJC Scopus subject areas

General Economics,Econometrics and Finance

Cite this

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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.

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

Abstract

ASJC Scopus subject areas

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