search query: @freeterm WILLINGNESS TO PAY / total: 31
reference: 29 / 31
| Author: | Shefrin, H. Caldwell, D. |
| Title: | Determinants of the magnitude of willingness to accept relative to willingness to pay |
| Journal: | Journal of Behavioral Decision Making
2001 : APR,VOL. 14:2, p. 87-105 |
| Index terms: | |
| Freeterms: | CHANGE-PROCESS-THEORY WILLINGNESS TO ACCEPT WILLINGNESS TO PAY |
| Language: | eng |
| Abstract: | In this paper the authors test two hypotheses that stem from the work of Mellers, Chang, Birnbaum and Ordonez (1992). The first hypothesis is that in a binary gamble, the ratio of WTA to WTP is decreasing in probability attached to a nonzero event. The second hypothesis is that this ratio is independent of the size of stakes. The authors find support for the first hypothesis, but not in the case of losses. |
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