Value Elicitation using BDM and a Discrete Choice Mechanism

We compare the Becker-DeGroot-Marschak (BDM) mechanism to a discrete choice mechanism for revealing willingness to pay (WTP) in a lab experiment. Differences in WTP disappear when considering only engaged bidders with non-zero bids. Only WTP elicited with BDM are sensitive to the variation of quantity offered to participants.

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Year of publication:	2010
Authors:	Roosen, Jutta ; Marette, Stephan ; Blanchemanche, Sandrine
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 30.2010, 2, p. 1554-1563
Publisher:	AccessEcon
Subject:	experimental economics \| substitution

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Classification:	C9 - Design of Experiments ; I1 - Health
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008465222