Willingness to Accept

Willingness to Accept

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Description

Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Willingness to accept (WTA) is the amount that person is willing to accept to abandon a good or to put up with something negative, such as pollution. It is the minimum monetary amount required for sale of a good or acquisition of something undesirable to be accepted by an individual. This term stands in contrast to willingness to pay (WTP), which is the maximum amount an individual is willing to sacrifice to procure a good or avoid something undesirable. The price of any goods transaction will thus be any point between a buyer's Willingness To Pay and a seller's Willingness To Accept. The net difference between WTP and WTA is the social surplus created by the trading of goods.show more

Product details

  • Paperback | 52 pages
  • 152 x 229 x 3mm | 91g
  • String Publishing
  • United States
  • English
  • black & white illustrations
  • 6136257491
  • 9786136257495