Economics Dictionary of ArgumentsHome
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| Willingness to pay (WTP) - Economics Dictionary of Arguments | |||
| Willingness to pay: Willingness to pay (WTP) is the maximum amount an individual is prepared to spend on a good or service. It reflects the value a consumer places on a product, determining how much they are willing to sacrifice to acquire it. WTP is crucial in setting prices and can be influenced by personal preferences, income, and alternatives available. See also Preferences._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
| Author | Item | More concepts for author | |
|---|---|---|---|
| Kahneman, Daniel | Willingness to pay (WTP) | Kahneman, Daniel | |
| Tversky, Amos | Willingness to pay (WTP) | Tversky, Amos | |
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Authors A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Concepts A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Ed. Martin Schulz, access date 2026-02-16 | |||
