Willingness to Accept

{
  "id": "MLC-T-ENV-030467",
  "term": "Willingness to Accept",
  "field": "Environment",
  "definition": "1. Value of a good defined by what a person would be willing to accept in exchange for its loss.\n\n2. Amount a person is willing to accept to forgo a benefit.\n\n3. The amount of compensation an individual would be willing to take in exchange for giving up some good or service. In the case of an environmental policy, WTA is the least amount of money that an individual would accept to forego an environmental improvement (or endure an environmental decrement).",
  "abbreviation": "WTA",
  "subject": "General environmental",
  "references": [
    "EPA Subject Matter Expert - Thurston",
    "DHS Risk Steering Committee Risk Lexicon 2010 Edition",
    "Economic Analyses Glossary; Preparing Economic Analyses Glossary"
  ],
  "url": "https://mlchart.com/terminology/environment/willingness-to-accept/"
}