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Table 1 Relation between EV, CV, WTP, and WTA

From: Estimating farmers’ willingness to pay for weather index-based crop insurance uptake in West Africa: Insight from a pilot initiative in Southwestern Burkina Faso

  EV measure CV measure
Utility increases WTA WTP
Utility decreases WTP WTA
  1. Source: Adopted from Haab and McConnell (2002)