An Exact Relation Between Willingness To Pay and Willingness To Accept

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.


Published in:
Economics Letters, 80, 3, 311-315
Year:
2003
Publisher:
Elsevier
ISSN:
0165-1765
Keywords:
Laboratories:




 Record created 2013-07-16, last modified 2018-03-17

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