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.
|Publication status||Published - 2005 Dec 1|
ASJC Scopus subject areas
- Economics, Econometrics and Finance(all)