The Role of Affect in the WT A/WTP Disparity
نویسنده
چکیده
Four studies demonstrated robust withinand 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 setting these two kinds of monetary values. Affective infiuences appeared to guide the valuation process. Buyers with stronger positive feelings about owning a ticket were willing to pay more for a ticket; sellers with stronger negative feelings about no longer having a ticket required a greater minimum payment in exchange for their ticket. In addition, the WTA/WTP disparity tended to be greater for more affectively-laden lottery tickets. The results suggest that WTA and WTP prices are constructed using salient numerical cues and affective feelings. Copyright @ 2003 John Wiley & Sons, Ltd.
منابع مشابه
Experimental Evidence on the Divergence Between Measures of Willingness to Pay and Willingness to Accept: The Role of Value Uncertainty
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