The willingness to pay-willingness to accept gap: a failed replication of Plott and Zeiler

@inproceedings{Fehr2015TheWT,
  title={The willingness to pay-willingness to accept gap: a failed replication of Plott and Zeiler},
  author={Dietmar Fehr and Rustamdjan Hakimov and Dorothea K{\"u}bler},
  year={2015}
}
The well-known willingness to pay–willingness to accept (WTP–WTA) gap refers to the observation that individuals attach a higher value to objects they own (WTA) than to objects they do not own (WTP). We report on experiments to re-investigate the possibility that the WTP–WTA gap arises from subject misconceptions due to experimental procedures as suggested by Plott and Zeiler (2005). The contribution of this paper is two-fold: first, we attempt to replicate the findings by Plott and Zeiler that… CONTINUE READING