Experiments on the divergence between willingness to pay and willingness to accept: The issue revisited

Rodolfo M. Nayga, Jr, Richard Woodward, Wipon Aiew

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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.

Original languageEnglish
JournalEconomics Bulletin
Issue number1
Publication statusPublished - 2005 Dec 1
Externally publishedYes


ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)

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