Willingness to pay: individual or household?
This paper considers how respondents model the open-ended willingness to pay question, what is your maximum willingness to pay? In the specific context of valuing Irish public service broadcasting, respondents were asked a follow-up question in order to explore whether the initial response was an individual or household bid. The results suggest the presence of significant ambiguity in how responses to standard willingness to pay questions should be interpreted and aggregated. Copyright Springer Science+Business Media, LLC 2006
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