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Do entreaties reduce the WTA-WTP disparity when valuing public goods?

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  • Maria Loureiro
  • Melina Barrio

Abstract

In this work we investigate the effects of entreaties to reduce the disparity between willingness to pay (WTP) and willingness to accept (WTA) estimates in the valuation of a public program. We find that entreaties are very effective on reducing the hypothetical bias inherent to the WTA estimates, as well as the gap between both WTP and WTA welfare estimates. The success of such entreaties warrants future research in this area.

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  • Maria Loureiro & Melina Barrio, 2011. "Do entreaties reduce the WTA-WTP disparity when valuing public goods?," Applied Economics Letters, Taylor & Francis Journals, vol. 18(6), pages 581-584.
    • Handle: RePEc:taf:apeclt:v:18:y:2011:i:6:p:581-584
    DOI: 10.1080/13504851003742467
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    Cited by:

    1. Penn, Jerrod & Hu, Wuyang, 2019. "Cheap talk efficacy under potential and actual Hypothetical Bias: A meta-analysis," Journal of Environmental Economics and Management, Elsevier, vol. 96(C), pages 22-35.

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