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Last edited 27 Nov 2020
Willingness to pay
The Green Book, Central Government Guidance On Appraisal And Evaluation, Published by HM Treasury in 2020, suggests: ‘Willingness to Pay is a technique for the inference of value of a non-marketed good or service from the amount that respondents to an expertly designed survey are willing to pay to acquire a good or service.’
The 2018 Green Book suggested that willingness to pay is: ‘…a technique for the inference of value of a non-marketed good or service from statements of the amount that respondents to an expertly designed survey are willing to pay to acquire a good or service.’
See also: Willingness to accept.
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