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 journalArticlepeer-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 languageEnglish
    JournalEconomics Bulletin
    Volume17
    Issue number1
    Publication statusPublished - 2005

    ASJC Scopus subject areas

    • General Economics,Econometrics and Finance

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