willingness-to-pay
Alternative name(s): willingness to pay
Acronym: WTP
| Definition | Source | References |
|---|---|---|
Estimate of the amount people are prepared to pay in exchange for a certain state or good (e.g. WTP for protection of an endangered species). |
Sustainable use assessment, Global assessment (1st work programme) | IUCN, 2012a |
the stated price that an individual would accept to pay for avoiding the loss or the diminution of an environmental service |
Invasive alien species assessment | United Nations, 2003 |