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Understanding the WTA–WTP gap : attitudes, feelings, uncertainty and personality
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Georgantzís, Nikolaos and Navarro-Martínez, Daniel (2010) Understanding the WTA–WTP gap : attitudes, feelings, uncertainty and personality. Journal of Economic Psychology, Volume 31 (Number 6). pp. 895-907. doi:10.1016/j.joep.2010.07.004 ISSN 0167-4870.
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Official URL: http://dx.doi.org/10.1016/j.joep.2010.07.004
Abstract
We present an experiment designed to study the psychological basis for the willingness to accept (WTA)-willingness to pay (WTP) gap Specifically we conduct a standard WTA-WTP economic experiment to replicate the gap and include in It five additional Instruments to try to follow the psychological processes producing it These instruments are designed to measure five psychological constructs we consider especially relevant (1) attitudes (2) feelings (3) familiarity with the target good (4) risk attitudes and (5) personality Our results provide important new insights Into the psychological foundations of the WTA-WTP disparity which can be used to organize some major previous results and cast serious doubts on the claim that the gap might be just a consequence of inappropriate experimental practice (C) 2010 Elsevier BV All rights reserved
| Item Type: | Journal Article | ||||
|---|---|---|---|---|---|
| Subjects: | H Social Sciences > HF Commerce | ||||
| Divisions: | Faculty of Science, Engineering and Medicine > Science > Psychology | ||||
| Library of Congress Subject Headings (LCSH): | Economics -- Psychological aspects, Willingness to pay, Consumer behavior | ||||
| Journal or Publication Title: | Journal of Economic Psychology | ||||
| Publisher: | Elsevier BV | ||||
| ISSN: | 0167-4870 | ||||
| Official Date: | 2010 | ||||
| Dates: |
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| Volume: | Volume 31 | ||||
| Number: | Number 6 | ||||
| Page Range: | pp. 895-907 | ||||
| DOI: | 10.1016/j.joep.2010.07.004 | ||||
| Status: | Peer Reviewed | ||||
| Publication Status: | Published | ||||
| Funder: | Andalusia (Spain), Spain. Ministerio de Ciencia e Innovación (MICINN), Universitat Jaume I | ||||
| Grant number: | P07-SEJ-03155 (Andalucia), ECO2008-04636/ECON (MICINN), PREDOC/2005/49 (UJ) |
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