search query: @indexterm RESOURCE ALLOCATION / total: 426
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| Author: | Brown, T. Gregory, R. |
| Title: | Why the WTA-WTP disparity matters |
| Journal: | Ecological Economics
1999 : MAR, VOL. 28:3, p. 323-336 |
| Index terms: | ECOLOGY ECONOMICS RESOURCE ALLOCATION |
| Language: | eng |
| Abstract: | The disparity between willingness to pay (WTP) and willingness to accept compensation (WTA) has been demonstrated repeatedly. Because using WTP estimates of value where a WTA estimate is appropriate tends to undervalue environmental assets, this issue is important to environmental managers. The authors summarize reasons for the disparity and then discuss some of the implications for management of environmental assets. The authors end by suggesting some approaches for dealing with the lack of credible methods for estimating WTA values of environmental goods. |
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