The Willingness to Pay-Willingness to Accept Gap, the 'Endowment Effect,' Subject Misconceptions, and Experimental Procedures for Eliciting Valuations

@article{Plott2005TheWT,
  title={The Willingness to Pay-Willingness to Accept Gap, the 'Endowment Effect,' Subject Misconceptions, and Experimental Procedures for Eliciting Valuations},
  author={Charles R. Plott and Kathryn Zeiler},
  journal={Behavioral \& Experimental Economics},
  year={2005}
}
Plott and Zeiler (2005) report that the willingness-to-pay/willingness-to-accept disparity is absent for mugs in a particular experimental setting, designed to neutralize misconceptions about the procedures used to elicit valuations. This result has received sustained attention in the literature. However, other data from that same study, not published in that paper, exhibit a significant and persistent disparity when the same experimental procedures are applied to lotteries. We report new data… 

The Willingness to Pay – Willingness to Accept Gap , the “ Endowment Effect ” , Subject Misconceptions , and Experimental Procedures for Eliciting Valuations : A Reassessment by

Plott and Zeiler (2005) report that the willingness-topay/willingnessto-accept disparity is absent for mugs in a particular experimental setting, designed to neutralize misconceptions about the

The Willingness to Pay-Willingness to Accept Gap , the “ Endowment Effect ” , Subject Misconceptions , and Experimental Procedures for Eliciting Valuations : Replication and Reassessment

Charles R. Plott and Kathryn Zeiler (2005) report t he results of a four-part experiment in support of the claim that the commonly observed willingness -to-pay/willingness-to-accept disparity is due

The willingness-to-accept/willingness-to-pay disparity in repeated markets: loss aversion or ‘bad-deal’ aversion?

Several experimental studies have reported that an otherwise robust regularity—the disparity between Willingness-To-Accept and Willingness-To-Pay—tends to be greatly reduced in repeated markets,

On the Relation between Willingness to Accept and Willingness to Pay∗

A vast literature documents that willingness to pay (WTP) is less than willingness to accept (WTA) a monetary amount for an object, a phenomenon called the endowment effect. Using data from three

Is There a Valuation Gap? The Case of Interval Valuations

We extend the literature on the willingness-to-pay/willingness-to-accept (WTP/WTA) disparity by testing two hypotheses, distilled from the literature. We also introduce a modified mechanism for

Revisiting the gap between the willingness-to-pay and willingness-to-accept for public goods

Comparisons of willingness-to-pay (WTP) and willingness-to-accept (WTA) compensation measures have raised concerns over the validity of stated preference methods, and have motivated researchers to

Predicting the Gap between Willingness to Accept and Willingness to Pay

People report much larger willingness to accept (WTA) than willingness to pay (WTP) under a broad range of circumstances. This dissertation tries to answer the question when people will report this

Does anonymity affect the willingness to accept and willingness to pay gap? A generalization of Plott and Zeiler

Conventional value-elicitation experiments often find subjects provide higher valuations for items they posses than for identical items they may acquire. Plott and Zeiler (Am Econ Rev 95:530–545,

Does anonymity affect the willingness to accept and willingness to pay gap? A generalization of Plott and Zeiler

Conventional value-elicitation experiments often find subjects provide higher valuations for items they posses than for identical items they may acquire. Plott and Zeiler (Am Econ Rev 95:530–545,

What Can I Get For It? The Relationship Between the Choice Equivalent, Willingness to Accept and Willingness to Pay

We hypothesise and confirm a novel empirical result concerning the willingness to accept (WTA)-willingness to pay (WTP) disparity. Employing data from what has become the classic experimental design,
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