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  2. Willingness to pay - Wikipedia

    en.wikipedia.org/wiki/Willingness_to_pay

    According to the constructed preference view, consumer willingness to pay is a context-sensitive construct; that is, a consumer's WTP for a product depends on the concrete decision context. For example, consumers tend to be willing to pay more for a soft drink in a luxury hotel resort in comparison to a beach bar or a local retail store.

  3. Embedding effect - Wikipedia

    en.wikipedia.org/wiki/Embedding_effect

    The embedding effect is an issue in environmental economics and other branches of economics where researchers wish to identify the value of a specific public good using a contingent valuation or willingness-to-pay (WTP) approach. The problem arises because public goods belong to society as a whole, and are generally not traded in the market.

  4. Willingness to accept - Wikipedia

    en.wikipedia.org/wiki/Willingness_to_accept

    Then the willingness to accept is defined by (+,) = (,). [3] That is, the willingness to accept payment in order to put up with the adverse change equates the pre-change utility (on the right side) with the post-change utility, including compensation. In contrast, the willingness to pay is defined by

  5. Becker–DeGroot–Marschak method - Wikipedia

    en.wikipedia.org/wiki/Becker–DeGroot–Marschak...

    The Becker–DeGroot–Marschak method (BDM), named after Gordon M. Becker, Morris H. DeGroot and Jacob Marschak for the 1964 Behavioral Science paper, "Measuring Utility by a Single-Response Sequential Method" is an incentive-compatible procedure used in experimental economics to measure willingness to pay (WTP).

  6. Endowment effect - Wikipedia

    en.wikipedia.org/wiki/Endowment_effect

    They go on to suggest that the endowment effect, when considered as a facet of loss-aversion, would thus violate the Coase theorem, and was described as inconsistent with standard economic theory which asserts that a person's willingness to pay (WTP) for a good should be equal to their willingness to accept (WTA) compensation to be deprived of ...

  7. Choice modelling - Wikipedia

    en.wikipedia.org/wiki/Choice_modelling

    However, the finding that results estimated in "utility space" do not match those estimated in "willingness to pay space", [24] [25] suggests that the confound problem is not solved by this "trick": variances may be attribute specific or some other function of the variables (which would explain the discrepancy). This is a subject of current ...

  8. Sports At Any Cost: Take Our College Sports Subsidy Data

    projects.huffingtonpost.com/ncaa/reporters-note

    HuffPost and The Chronicle made multiple efforts to obtain reports detailing athletics spending between 2010 and 2014 from all public institutions, but 33 did not respond by Oct. 15, 2015, the final date reports could be included in our analysis. Nine schools with incomplete data are noted in our Subsidy Scorecards.

  9. Contingent valuation - Wikipedia

    en.wikipedia.org/wiki/Contingent_valuation

    Many economists question the use of stated preference to determine willingness to pay for a good, preferring to rely on people's revealed preferences in binding market transactions. Early contingent valuation surveys were often open-ended questions of the form "how much compensation would you demand for the destruction of X area" or "how much ...