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TeachMeFinance.com - explain Willingness to pay Willingness to pay The term 'Willingness to pay' as it applies to the area of reclamation can be defined as ' Method of estimating the value of activities, services, or other goods, where value is defined as the maximum amount a consumer would be willing to pay for the opportunity rather than do without. The total willingness to pay, minus the user's costs of participating in the opportunity, defines the consumer surplus and benefits'. Previous 5 Terms: wildlife habitat Wildlife Habitat Incentives Program Wildlife Refuges Wildlife Services (WS) Program William F. Goodling Child Nutrition Reauthorization Act of 1998 Next 5 Terms: willowish Willy-Willy Wilting point Winch wind About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.