Salinyssa really appreciate your thoughts. Why is WTP often extremely unreliable? Can you share any examples?
I have studied allot of Transport projects and believe whilst the Actual v Predicted BCR for an Economic Appraisal will differ to the "reality," WTP shows utility/purchasing power and is a fundamental tenant of welfare analysis since '74.
I often found the only reason WTP calculations in Cost Benefit Analysis are often wrong because people treat nominal v real differently, or elasticity is mis-calculated. Age/Gender can all be segmented.
Economics though can always do with improvement tho, so i do not disagree. I wish you well.
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