The effects of uncertainty on the WTA-WTP gap

DOI10.1007/S11238-014-9414-7zbMATH Open1378.91090OpenAlexW2089201784MaRDI QIDQ2353571FDOQ2353571

Authors: Robert J. Reilly, Douglas D. Davis 

Publication date: 15 July 2015

Published in: Theory and Decision (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1007/s11238-014-9414-7

Recommendations

• On a disparity between willingness to pay and willingness to accept under the rank-dependent utility model
• Imprecise preferences and the WTP-WTA disparity
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• A review of WTA/WTP studies
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zbMATH Keywords

expected utility theorywillingness to paycompensating variationequivalent variationwillingness to accept

Mathematics Subject Classification ID

Utility theory (91B16)

Cites Work

• Prospect Theory: An Analysis of Decision under Risk
• Risk Aversion in the Small and in the Large
• Willingness-to-pay and willingness-to-accept for risky and ambiguous lotteries
• An exact relation between willingness to pay and willingness to accept
• One theory for two different risk premia

Cited In (3)

• Empirical evaluation of third-generation prospect theory
• On a disparity between willingness to pay and willingness to accept under the rank-dependent utility model
• Imprecise preferences and the WTP-WTA disparity

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