منابع مشابه
Calibration of Willingness-to-Accept
This paper calibrates real and hypothetical willingness-to-accept estimates elicited for consumer goods in a multi-unit, random nth-price auction. Using a within-subject experimental design, we find that people understated their real willingness to accept in the hypothetical regimes, framed both as demand and non-demand revealing. After controlling for personspecific effects, however, hypotheti...
متن کاملReference-dependent valuations of risk: Why willingness-to-accept exceeds willingness-to-pay
The gap between willingness-to-pay (WTP) and willingness-to-accept (WTA) benefit values typifies situations in which reference points—and direction of movement from reference points—are consequential. Why WTA-WTP discrepancies arise is not well understood. We generalize models of reference dependence to identify separate reference dependence effects for increases and decreases in environmental ...
متن کاملA Dynamic Explanation of the Willingness to Pay and Willingness to Accept Disparity
Recent evidence from laboratory experiments suggests that important disparities exist between willingness to pay (WTP) and compensation demanded for the same good. Because a fundamental postulate in neoclassical theory is that with small income effects and many available substitutes, the willingness to accept (WTA) and WTP measures of value for a commodity should be roughly equivalent, this fin...
متن کاملWillingness to accept risk in the treatment of rheumatic disease.
STUDY OBJECTIVE The aim was to assess patients willingness to accept mortal risk in the drug treatment of chronic rheumatic disease. DESIGN A non-random sample of consecutive patients were interviewed with a standardised survey instrument. SETTING The study took place in the Royal National Hospital for Rheumatic Diseases, Bath, UK. PATIENTS 100 consecutive in- and out-patients aged 65 or ...
متن کامل“Selling” Value: The Influence of Language on Willingness-to-Accept
In behavioral economics, the "endowment effect" describes the robust finding that prices people are willing to accept (WTA) for a good exceed prices people are willing to pay (WTP) for the same good. The increase in WTA values is often explained by the sellers' negative hedonic response to losing their item. Recent studies, however, show that subtle cues may change participants' perspective, in...
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ژورنال
عنوان ژورنال: Journal of Environmental Economics and Management
سال: 2002
ISSN: 0095-0696
DOI: 10.1006/jeem.2000.1182