Household willingness to pay and income pooling: A comment

Udo Ebert

Economics Letters, 2010, vol. 107, issue 1, 7-9

Abstract: We demonstrate some problems with Munro 2005 ("Household willingness to pay equals individual willingness to pay if and only if the household income pools", Economics Letters 88, 227-230). Furthermore, we reconsider income pooling in a slightly changed framework and prove: Income pooling implies that household willingness to pay is equal to minimal individual willingness to pay. The converse is not true.

Keywords: Income; pooling; Willingness; to; pay; Willingness; to; accept; Nonmarket; goods; Contingent; valuation (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (2)

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