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2009•Applied Economics LettersRequires access

The impact of preferences on the WTP premium and the WTA premium

Tal Shavit, Shosh Shahrabani, Uri Ben‐Zion

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Abstract

The study examined the impact of preferences for an item on the Willingness to Pay (WTP) and Willingness to Accept (WTA). The results show that the differences between biddings for preferred and less preferred items are smaller in the selling position than in the buying position. This result can be explained by the existence of the ownership effect in the selling position for both preferred and less preferred items.

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What this paper is about

The study examined the impact of preferences for an item on the Willingness to Pay (WTP) and Willingness to Accept (WTA). The results show that the differences between biddings for preferred and less preferred items are smaller in the selling position than in the buying position. This result can be explained by the existence of the ownership effect in the selling position for both preferred and less preferred items.

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OpenAlex reports 2 citations for this work. Citation counts describe recorded attention and do not establish research quality.

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Available abstract

The study examined the impact of preferences for an item on the Willingness to Pay (WTP) and Willingness to Accept (WTA). The results show that the differences between biddings for preferred and less preferred items are smaller in the selling position than in the buying position. This result can be explained by the existence of the ownership effect in the selling position for both preferred and less preferred items.

Key concepts: Willingness to accept, Willingness to pay, Position (finance), Payment, Economics, Endowment effect, Actuarial science, Microeconomics

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