A new explanation for the WTP/WTA disparity
✍ Scribed by Jinhua Zhao; Catherine L. Kling
- Book ID
- 117332111
- Publisher
- Elsevier Science
- Year
- 2001
- Tongue
- English
- Weight
- 55 KB
- Volume
- 73
- Category
- Article
- ISSN
- 0165-1765
No coin nor oath required. For personal study only.
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## Abstract Four studies demonstrated robust within‐ and between‐subject differences in willingness‐to‐pay (WTP) and willingness‐to‐accept (WTA) measures of the value of lottery tickets. Buyers and sellers attended to different numerical cues and interpreted the same numbers differently when settin
A host of studies have shown that respondents typically provide larger values re¯ecting their willingness to accept compensation (WTA) for the loss of a product than amounts they would be willing to pay (WTP) to acquire the same product (Knetsch and Sniden, 1984;Cummings, Brookshire, and Schulze, 19