 |
This article does not cite any references or sources. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (November 2006) |
In economics, the willingness to pay (WTP) is the maximum amount a person would be willing to pay, sacrifice or exchange for a good.
Several methods have been developed to measure consumer willingness to pay. These methods can be differentiated whether they measure consumer hypothetical or actual willingness to pay and whether they measure consumer willingness to pay directly or indirectly.
Choice modelling techniques may be used to estimate the value of the WTP through a choice experiment.
See also
Becker-DeGroot-Marschak method
 |
This economic term article is a stub. You can help Wikipedia by expanding it. |
This entry is from Wikipedia, the leading user-contributed encyclopedia. It may not have been reviewed by professional editors (see full disclaimer)
