research article
An Exact Relation Between Willingness To Pay and Willingness To Accept
2003
I present a simple and precise relationship between the willingness-to-pay and the willingness-to-accept, or equivalently between the compensating and equivalent variations following an exogenous welfare change. One can be computed given the other as a function of income.
Type
research article
Author(s)
Date Issued
2003
Publisher
Published in
Volume
80
Issue
3
Start page
311
End page
315
Editorial or Peer reviewed
REVIEWED
Written at
OTHER
EPFL units
Available on Infoscience
July 16, 2013
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