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

Rodolfo Nayga, Wipon Aiew () and Richard Woodward
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Wipon Aiew: Texas A&M University

Economics Bulletin, 2005, vol. 17, issue 4, 1-5

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.

JEL-codes: Q0 (search for similar items in EconPapers)
Date: 2005-01-28
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Citations: View citations in EconPapers (4)

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