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Experiments on the divergence between willingness to pay and willingness to accept: The issue revisited | Academic Article individual record
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.

author list (cited authors)
Nayga, R. M., Woodward, R., & Aiew, W.
publication date
2005
published in