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

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Rodolfo M. Nayga, Jr.; Wipon Aiew; Richard Woodward;
(2005)
  • Journal: Economics Bulletin,volume 17,issue 4,pages1-5
  • Subject:
    • jel: jel:Q0

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 ... View more
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