Value Elicitation using BDM and a Discrete Choice Mechanism

Jutta Roosen, Stéphan Marette () and Sandrine Blanchemanche ()
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Sandrine Blanchemanche: Met@risk, INRA-AgroParisTech

Economics Bulletin, 2010, vol. 30, issue 2, 1554-1563

Abstract: 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.

Keywords: experimental economics; substitution (search for similar items in EconPapers)
JEL-codes: C9 I1 (search for similar items in EconPapers)
Date: 2010-05-26
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Citations: View citations in EconPapers (2)

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Related works:
Working Paper: Value elicitation using BDM and a discrete choice mechanism (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:ebl:ecbull:eb-10-00323

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