Description
Return normalized willingness-to-accept/pay asymmetry.
Behavioral-economics tasks compare supplied payoffs, reference points, budgets and observed choices. A gap, dominance flag or response fraction illustrates a declared convention without identifying a psychological bias, predicting real choices or selecting a suitable financial action.
Return normalized willingness-to-accept/pay asymmetry.
When to use this tool
Use Willingness To Pay Accept Asymmetry Gauge when checking the stated experimental payoff, budget, reference or choice convention.
How to use the tool and how it works
- Enter pay, accept. Use the units and conventions below.
- Run the tool. Correct any format, range, or cross-field input error before interpreting the output.
- Read normalizedGap, midpoint. Use the output convention below.
Return normalized willingness-to-accept/pay asymmetry. Require pay/accept >= 0 with positive sum; normalizedGap = 2*(accept-pay)/(accept+pay), midpoint = their mean.1
| Input field | Meaning and units | Accepted input |
|---|---|---|
| pay | Pay | Required. Finite number; minimum 0. |
| accept | Accept | Required. Finite number; minimum 0. |
| Output field | Interpretation | Returned shape |
|---|---|---|
| normalizedGap | Normalized Gap | Required. Finite number. |
| midpoint | Midpoint | Required. Finite number. |
{
"input": {
"pay": 20,
"accept": 30
},
"output": {
"normalizedGap": 0.4,
"midpoint": 25
}
}Limitations and assumptions
- Amounts share a currency and context; this descriptive gap does not prove an endowment effect or appropriate compensation.
- Inputs must satisfy both the field types and the cross-field conditions above. Invalid input causes an error; a successful false flag or documented placeholder is a different result.
- Numeric calculations use binary floating point unless exact decimal-integer arithmetic is explicitly stated. No hidden measurement tolerance or decimal rounding is added; nonfinite or out-of-contract results are rejected. Numeric signed-zero results are exported as zero.
Alternative or Complementary methods
Use a well-defined study design and complete data to estimate behavior; assess real financial rights, consequences and uncertainty independently.
References
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