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

Department of Food and Resource Economics

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

2 Citations (Scopus)

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

Economics, Econometrics and Finance(all)

Cite this

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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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