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Contingent Value Measurement: On the Nature and Meaning of Willingness to Pay

✍ Scribed by Icek Ajzen and B. L. Driver

Book ID
125584262
Publisher
Elsevier Science
Year
1992
Tongue
English
Weight
374 KB
Volume
1
Category
Article
ISSN
1057-7408

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## Abstract Three measures of the value of time – willingness to pay (WTP) for a reduction in travel time, willingness to accept (WTA) a monetary compensation to forgo it, and the wage rate – are evaluated and compared. WTP and WTA were estimated from the two‐part regressions of time price, using c