A review article by Evan Johnson and Gregory Nemet, Robert M. La Follete School of Public Affairs at the University of Wisconsin-Madison, on willingness to pay (WTP) for climate policy. This working paper is divided into five sections as follows:

1. Section 1 describes the characteristics of WTP as an empirical tool for climate stability.
2. Section 2 discusses literature review on WTP for climate policy, through to social and behavioural aspects.
3. Section 3 explains calculations used and the results of comparison of various studies.
4. Section 4 discusses a new research agenda to improve factors for identifying WTP.
5. Section 5 concludes the study.

Students will learn about WTP in context to climate stability and the need to study it. They will also learn about which factors are commonly used to identify WTP and how they are calculated through empirical assessment. Additionally they will also learn about the challenges of using the current factors in determining the WTP and what can be done to improve its measurement.