A Dynamic Explanation of the Willingness to Pay and Willingness to Accept Disparity
---- Acknowledgments ----
Dan Ariely, Glenn Harrison, Danny Kahneman, Liesl Koch, and Bob Sugden provided useful remarks on an earlier version of this study. Thanks to seminar participants at several universities and conferences, to two anonymous referees, and a co-editor for providing useful comments. Any errors remain our own. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.