New Explanation for the Wtp/Wta Disparity (A)

Catherine Kling and Jinhua Zhao

Staff General Research Papers Archive from Iowa State University, Department of Economics

Abstract: We propose a new explanation for the WTP/WTA disparity in experiments and surveys. Uncertainty, irreversibility and limited learning opportunities can generate commitment costs, driving a wedge between WTP and WTA. We present experimental evidence that supports our hypothesis.

Date: 2001-11-01
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Published in Economics Letters, November 2001, vol. 73, pp. 293-300

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Journal Article: A new explanation for the WTP/WTA disparity (2001)
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Persistent link: https://EconPapers.repec.org/RePEc:isu:genres:5113

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