Adamowicz, Wiktor L.; Bhardwaj, Vinay; Macnab, Bruce - In: Land Economics 69 (1993) 4
"Willingness to pay" (WTP) and "willingness to accept" (WTA) measures of welfare change have been found to differ substantially when elicited from surveys or experimental market transactions. Conventional economic theory suggests that the difference between WTP and WTA should be smaller than...