Browsing Vanderbilt Law School Faculty Works by Subject "Willingness to pay"

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    • Reference-Dependent Valuations of Risk: Why Willingness-to-Accept Exceeds Willingness-to-Pay 
      Viscusi, W. Kip; Huber, Joel (Journal of Risk and Uncertaintyhttp://www.springer.com.proxy.library.vanderbilt.edu/economics/economic+theory/journal/11166, 2011)
      The gap between willingness-to-pay (WTP) and willingness-to-accept (WTA) benefit values typifies situations in which reference points — and direction of movement from reference points — are consequential. Why WTA-WTP ...