Kling, Catherine Louise; Corrigan, Jay; Zhao, Jinhua - Center for Agricultural and Rural Development (CARD), … - 2003
In a static setting, willingness to pay for an environmental improvement is equal to compensating variation. However …, in a dynamic setting characterized by uncertainty, irreversibility, and the potential for learning, willingness to pay …. Our results show that willingness to pay is highly sensitive to the potential for future learning. Respondents offered the …