Rodolfo M. Nayga, Jr.; Aiew, Wipon; Woodward, Richard - In: Economics Bulletin 17 (2005) 4, pp. 1-5
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...