On the basis of a low probability insurance experiment with substantial money on the line, we demonstrate that concern is an important driver of willingness to pay (WTP) for insurance when there is ambiguity surrounding the estimate. Concern still plays an important role when probabilities are given precisely. This finding explains why some individuals pay too much and others little for insuran...

objective: the main objective of this research was the economic valuation of public library services using the contingent valuation. although, estimating the average willingness to pay for public library service, demographics on the willingness to pay, and economic valuation and pricing public library services were other objectives that investigated in this study. methodology: explanatory varia...