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Implications of a Weaker Form of Complementarity
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Jon R. Neill
Published/Copyright:
December 17, 2012
Abstract
When a non-market good has existence value, the assumption of weak complementarity cannot be used to determine willingness to pay for that good. However, when this assumption is weakened, it is possible to place an upper bound on marginal willingness to pay even when the non-market good has existence value, and thereby, an upper bound on willingness to pay for changes in consumption of non-market goods can be established. Moreover, this upper bound may be relatively easy to compute.
Keywords: marginal willingness to pay; weak complementarity
Published Online: 2012-12-17
©2012 Walter de Gruyter GmbH & Co. KG, Berlin/Boston
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- Implications of a Weaker Form of Complementarity
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