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A DYNAMIC EXPLANATION OF THE WILLINGNESS TO PAY AND WILLINGNESS TO ACCEPT DISPARITY [PDF]

open access: yesEconomic Inquiry, 2011
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 ...
Catherine L. Kling   +2 more
openaire   +2 more sources

Framing Influences Willingness to Pay but Not Willingness to Accept

Journal of Marketing Research, 2013
The authors show, with real and hypothetical payoffs, that consumers are willing to pay substantially less for a risky prospect when it is called a “lottery ticket,” “raffle,” “coin flip,” or “gamble” than when it is labeled a “gift certificate” or “voucher.” Willingness to accept, in contrast, is not affected by these frames.
Yang, Yang   +2 more
openaire   +1 more source

Willingness to Pay

2018
My doctor told me I shouldn’t work out until I’m in better shape. I told him, “All right; don’t send me a bill until I pay you.”
Wiebke Klingemann   +2 more
  +4 more sources

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