search query: @indexterm economics literature / total: 68
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| Author: | Horowitz, J. K. McConnell, K. E. |
| Title: | A review of WTA/WTP studies |
| Journal: | Journal of Environmental Economics and Management
2002 : NOV, VOL. 44:3, p. 426-447 |
| Index terms: | Regression analysis Economics literature Public goods Private sector |
| Language: | eng |
| Abstract: | Willingness to accept (WTA) is usually substatially higher than willingness to pay (WTP). These constructs have been studied for roughly 30 years. The authors review these studies. They find that the less the good is likely an "ordinary market good", the higher the ratio. The ratio is highest for non-market goods, next highest for ordinary private goods, and lowest for experiments involving forms of money. |
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