A new explanation for the WTP/WTA disparity

Jinhua Zhao and Catherine Kling

ISU General Staff Papers 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: 2001-12-01
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Citations: View citations in EconPapers (19)

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Journal Article: A new explanation for the WTP/WTA disparity (2001)
Working Paper: New Explanation for the Wtp/Wta Disparity (A) (2001)
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Persistent link: https://EconPapers.repec.org/RePEc:isu:genstf:200112010800001232

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