Common use of Willingness to Pay Clause in Contracts

Willingness to Pay. ▇▇▇▇▇▇▇▇▇ and ▇▇▇▇▇ (2014) reported that 25% of respondents were willing to pay at least $ 2,000, and 10% would be willing to pay at least $5,800 for AVs. However, the majority of respondents (54.5%) said they would not be willing to pay extra for AV technology (level 4). ▇▇▇▇▇▇ and ▇▇▇▇▇▇▇▇▇ (2017) studied WTP for a different level of automation. It is evident that the majority (56.7% on average) of the respondents were willing to pay less than $100 for partial automation features (level 2). 58.7% of respondents also do not want to pay anything for full automation (level 4). For full automation, 14.4% willing to pay less than $6,000, 10.3% willing to pay $6,000–13,999, 9.3% willing to pay $14,000–25,999, and 7.3% willing to pay more than $26,000. Bansal et al. (2016) reported that 48% and 38% of respondents were willing to pay less than $2,000 for partial automation (level 3) and full automation (level 4), respectively. Interestingly, 41% of respondent were willing to use SAV more than at least once a week or entirely if they charge $1/mile. This adoption reduced to only 4% if they charge $3/mile. ▇▇▇▇▇▇▇ et al. (2017) found substantial heterogeneity in preferences for automation and estimated that the average household is willing to pay a significant amount for automation: $3,500 for partial automation and $4,900 for full automation. Table 3 presents a summary of findings focusing on WTP. $100 or less 56.7% Bansal et al. (2017) $2,000 or less 48% $3,500 estimated for average HH NA ▇▇▇▇▇▇▇ et al. (2017) $0 54.5%, 58.7% ▇▇▇▇▇▇▇▇▇ and ▇▇▇▇▇ (2014), Bansal et al. (2017) $2,000 25% ▇▇▇▇▇▇▇▇▇ and ▇▇▇▇▇ (2014) $2,000 or less 38% Bansal et al. (2016) $4,900 estimated for average HH NA ▇▇▇▇▇▇▇ et al. (2017) $5,800 10% ▇▇▇▇▇▇▇▇▇ and ▇▇▇▇▇ (2014) $6,000 or less 14.4% Bansal et al. (2017) $6,000–13,999 10.3% $14,000–25,999 9.3% $26,000 or more 7.3%