Seceral contingent caluation studies hace found that the open-ended format yields lower estimates of willingness to pay (WTP) than does the closed-ended, or dichotomous choice, format. In this study, WTP for a public encironmental good was estimated under four conditions: actual payment in response to open-ended and closed-ended requests, and hypothetical payment in response to open-ended and c...

Willingness-to-pay (WTP) measures of the effects of changes in health on a person's welfare are more comprehensive than traditional cost-of-illness (COI) measures, but they are sometimes difficult to obtain. The authors investigated two approaches for measuring heart patients' WTP for changes in their angina symptoms. First, actual expenditures and perceived angina episodes avoided were used to...

Environmental concern has been an important issue for a few decades and the extent of consumer demand for eco-friendly consumption has increased. The article presents research results concerning the willingness to pay (WTP) for selected green products, defined by the auction method. Moreover, the paper presents the interrelations between the perceived benefits, individual value system and the W...

Private provision of public goods has been investigated by many theoretical frameworks and experiments, most of which are difficult to apply in practice, let alone implement in the public sector. In this paper we offer a theoretical analysis of a Swedish government project's cost-sharing mechanism, which gave participants incentives to misrepresent their willingness to pay (WTP), some to unders...

In this study, we compare patients' risk-taking and spending behaviors to their willingness to pay (WTP) for novel implants in a joint arthroplasty. 210 patients were surveyed regarding risk-taking and spending behavior, and WTP for novel implants with either increased-longevity, increased-longevity with higher risk of complications, or decreased risk of complications compared to a standard imp...

Contingent valuation (CV) and conjoint analysis were used to estimate landowner’s willingness to pay (WTP) for ecosystem management on non-industrial private forest land. The results suggest that even when conjoint and CV questions are the same, except for rating and pricing format, respectively, WTP estimates are quite different. Since most conjoint models essentially count ‘maybe’ responses t...

In this paper we experimentally investigate the disparity between willingness-toaccept (WTA) and willingness-to-pay (WTP) for risky lotteries. The direction of the income effect is reversed by endowing subjects with the highest price of a lottery when asking the WTP question. Our results show that the income effect is too small to be the only source of the disparity. Since the disparity concent...

introduction nowadays because of various economic problems in rural areas it is necessary to pay attention to new economic activities such as tourism, in order to overcome economic challenges as well as achieving sustainable development goals. estimating tourist's willingness to pay and analyzing the affecting factors on it, along with the economical and social demands of people could dema...

OBJECTIVES Our main objective was to compare willingness to accept (WTA) and willingness to pay (WTP) in a discrete choice experiment on hearing aid provision. Additionally, income effect and endowment effect were explored as possible explanations for the disparity between WTA and WTP, and the impact of using a WTA and/or WTP format to elicit monetary valuations on the net benefit of the new or...