Willingness to Pay method presented at 2016 Conference on Global Economic Analysis

ImpactECON Director, Dr. Walmsley presented a paper outlining a new willingness to pay method at the 19th Annual Conference on Global Economic Analysis hosted by the World Bank. The new method was incorporated into a global supply chain model and contrasted with the traditional iceberg method used for examining non-tariff measures. The new willingness to pay method results in larger gains to trade and increased prices through an increase in demand, while the iceberg effect lowers prices through a productivity gain. The new willingness to pay method is documented in working paper #04 of the ImpactECON working paper series.