New Explanation for the Wtp/Wta Disparity (A)
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.
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| Length: | |
| Date of creation: | 01 Nov 2001 |
| Date of revision: | |
| Publication status: | Published in Economics Letters, November 2001, vol. 73, pp. 293-300 |
| Handle: | RePEc:isu:genres:5113 |
| Contact details of provider: | Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070 Phone: +1 515.294.6741 Fax: +1 515.294.0221 Web page: http://www.econ.iastate.edu Email: More information through EDIRC
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