Miceli, Thomas J.; Minkler, Alanson P. - In: Public Finance Review 23 (1995) 2, pp. 255-270
Recent work suggests that individuals'willingness-to-accept (WA) measures of value differ from their willingness-to-pay (WP) measures of value. This divergence has been attributed to some combination of wealth and "endowment" effects. Because WA is always higher than WP, market-supported...