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| Rodolfo M. Nayga, Jr., Wipon Aiew and Richard Woodward |
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| ''Experiments on the Divergence between Willingness to Pay and Willingness to Accept: The Issue Revisited'' |
| ( 2005, Vol. 17 No.4 ) |
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| 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. |
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| Keywords: |
JEL: Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics: General
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| Manuscript Received : Nov 03 2004 | | Manuscript Accepted : Jan 28 2005 |
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