Related Experiment Video
Updated: Jul 20, 2026

Measuring Delay Discounting in Humans Using an Adjusting Amount Task
Published on: January 9, 2016
The relationship between reliability and size of willingness-to-pay values: a qualitative insight
1Health Economics Group, School of Medicine, Health Policy and Practice, University of East Anglia, Norwich, UK. Richard.Smith@uea.ac.uk
Abstract:
In a previous paper, the reliability of willingness-to-pay (WTP) values was found to be an increasing function of the size of WTP expressed. Here, the results of a qualitative exercise conducted alongside this quantitative study are presented. The results of this exercise suggest that higher WTP values may require more thought from the respondent which, in turn, gives them greater stability. At low levels of WTP, values appear to be taken from a 'discretionary account', where expenditure is more volatile. Caveats to this result, and suggestions for future research, are considered in the discussion.
Related Concept Videos
Testing a Claim about Standard Deviation
The hypothesis testing for the claim of population standard deviation (or variance) requires the data and samples to be random and unbiased. The population distribution also must be normal. There is no specific requirement on the sample size as the estimation is based on the chi-square distribution.
As a first step, the hypothesis (null and alternative) concerning the claim about...
The Anchoring-and-Adjustment Heuristic
Estimation of the Physical Quantities
Reliability and Validity
Statistical Analysis: Overview
One of the most commonly used statistical quantifiers is the mean, which is the ratio between the sum of the numerical values of all results and the...
Equity Theory
