Willingness to Pay

Willingness to Pay

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Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. In economics, the willingness to pay (WTP) is the maximum amount a person would be willing to pay, sacrifice or exchange in order to receive a good or to avoid something undesired, such as pollution. This term stands in contrast to willingness to accept payment (WTA), which is the minimum amount an individual is willing to receive to give up a good or to accept something undesirable. Several methods have been developed to measure consumer willingness to pay. These methods can be differentiated whether they measure consumers' hypothetical or actual willingness to pay and whether they measure consumer willingness to pay directly or indirectly.
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Product details

  • Paperback | 72 pages
  • 152 x 229 x 4mm | 118g
  • Tempor
  • United States
  • English
  • black & white illustrations
  • 6136257521
  • 9786136257525