ScholarLens Back to search
2000•Applied Economics LettersRequires access

Willingness to pay and willingness to accept: a simple conceptual exposition

Dodo J. Thampapillai

Open publisher page 2 citations

Abstract

A simple explanation within the theory of indifference curves is offered for the experimental observations concerning the disparity between willingness to pay (WTP) and willingness to accept (WTA). Following Morrison's evidence, this explanation rests largely on the endowment effect. Two demand curves which are distinguished in terms of WTP and WTA are derived.

About this research paper

What this paper is about

A simple explanation within the theory of indifference curves is offered for the experimental observations concerning the disparity between willingness to pay (WTP) and willingness to accept (WTA). Following Morrison's evidence, this explanation rests largely on the endowment effect. Two demand curves which are distinguished in terms of WTP and WTA are derived.

Why it matters

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

Key contribution

A contribution statement is not available in the OpenAlex record.

Method / approach

Method details are not available in the OpenAlex metadata.

Main findings

Findings are not separately available in the OpenAlex metadata.

Limitations

Limitations are not available in the OpenAlex metadata.

Applications

Application details are not available in the OpenAlex metadata.

Available abstract

A simple explanation within the theory of indifference curves is offered for the experimental observations concerning the disparity between willingness to pay (WTP) and willingness to accept (WTA). Following Morrison's evidence, this explanation rests largely on the endowment effect. Two demand curves which are distinguished in terms of WTP and WTA are derived.

Key concepts: Endowment effect, Willingness to pay, Willingness to accept, Economics, Simple (philosophy), Exposition (narrative), Econometrics, Microeconomics

Related papers

Related paper 1Related paper 2Related paper 3
Back to paper searchBrowse research topicsOriginal source
Willingness to pay and willingness to accept: a simple conceptual exposition — Research Paper | ScholarLens