Experiments on the Divergence between Willingness to Pay and Willingness to Accept: The Issue Revisited

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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Year of publication:	2005
Authors:	Rodolfo M. Nayga, Jr. ; Aiew, Wipon ; Woodward, Richard
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 17.2005, 4, p. 1-5
Publisher:	AccessEcon

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Classification:	Q0 - Agricultural and Natural Resource Economics. General
Source:	RePEc - Research Papers in Economics

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