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Definitions (91)
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Vehicle Bias
Difference in actual willingness to pay and willingness to pay revealed in a survey arising from the choice of a payment instrument for a survey. Vehicles include changes in local taxes, entrance fees [..]
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Starting Point Bias
Because survey interviewers suggest the first bid this can influence the respondents answer and cause the respondent to agree too readily with bids in the vicinity of the initial bid .
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wtp
Maximum amount of money one would give up to buy some good.
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WTA
Minimum amount of money one would accept to forgo some good or to bear some harm.
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WILLINGNESS TO ACCEPT
Minimum amount of money one would accept to forgo some good or to bear some harm.
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Tradeable Permits
The government specifies an overall level of pollution we'll tolerate, then gives each polluter a "permit" for its portion of the total. Firms that keep emissions below their al [..]
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Taking
Argument that government regulations can effectively take away or reduce the right of individuals or firms to use property to maximize their incomes or utilities.
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Strategic Bias
Causes survey results to differ from actual willingness to pay because individual have an incentive to not reveal the truth because they can secure a benefit in excess of the costs they have to pay. T [..]
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Pollution Fee or Tax
Charge for the amount of waste or pollution. Examples include the BTU tax that was an early casualty in the President's budget bill. Several European nations have air and water pollution charges; [..]
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Personal Saving
The difference between household income (after taxes) and consumption expenditures. Political Economy : Policies that emphasize the interaction between politics and economics and that have politic [..]
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