A new explanation for the WTP/WTA disparity

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dc.contributor.author Zhao, Jinhua
dc.contributor.author Kling, Catherine
dc.contributor.department Economics
dc.date 2018-02-18T07:49:14.000
dc.date.accessioned 2020-06-30T02:07:59Z
dc.date.available 2020-06-30T02:07:59Z
dc.date.issued 2001-12-01
dc.description.abstract <p>We propose a new explanation for the WTP/WTA disparity in experiments and surveys. Uncertainty, irreversibility and limited learning opportunities can generate commitment costs, driving a wedge between WTP and WTA. We present experimental evidence that supports our hypothesis.</p>
dc.description.comments <p>This is a working paper of an article from <em>Economics Letters</em>, 73(3) 2001; 293-300. DOI: <a href="http://dx.doi.org/10.1016/S0165-1765(01)00511-0" id="x-ddDoi" target="_blank">10.1016/S0165-1765(01)00511-0</a>.</p>
dc.identifier archive/lib.dr.iastate.edu/econ_las_pubs/549/
dc.identifier.articleid 1550
dc.identifier.contextkey 9949930
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath econ_las_pubs/549
dc.identifier.uri https://dr.lib.iastate.edu/handle/20.500.12876/21776
dc.source.uri http://lib.dr.iastate.edu/cgi/viewcontent.cgi?article=1232&context=card_workingpapers
dc.subject.disciplines Behavioral Economics
dc.subject.disciplines Finance
dc.subject.disciplines Growth and Development
dc.subject.disciplines Political Economy
dc.subject.disciplines Public Economics
dc.subject.keywords Willingness-to-pay
dc.subject.keywords Willingness-to-accept
dc.subject.keywords Commitment cost
dc.subject.keywords Lab experiment
dc.subject.keywords Contingent valuation survey
dc.title A new explanation for the WTP/WTA disparity
dc.type article
dc.type.genre article
dspace.entity.type Publication
relation.isOrgUnitOfPublication 4c5aa914-a84a-4951-ab5f-3f60f4b65b3d
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