Economics
The writing in this category.
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Willingness to pay and willingness to sell
A clear, practical look at willingness to pay (WTP) and willingness to sell (WTS), the two ideas you need to understand how markets work and how equilibrium prices form.
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WTS: willingness to sell
Willingness to sell (WTS) is the least a seller is prepared to accept to part with a product or service.
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WTP: willingness to pay
Willingness to pay (WTP) is the most a consumer is prepared to spend on a product or service.
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Value stick
The value stick is a diagram that shows how the value a company creates is shared among customers, the company, employees and suppliers, from…