An augmented Becker–DeGroot–Marschak mechanism for transaction cycles

Thomas Weber

Economics Letters, 2012, vol. 114, issue 1, 43-46

Abstract: We introduce an augmented Becker–DeGroot–Marschak mechanism for the revelation of willingness-to-accept and willingness-to-pay in transaction cycles. The mechanism can be used to test for a behavioral anomaly.

Keywords: Compensating variation; Equivalent variation; Endowment effect; Welfare change; Willingness-to-accept; Willingness-to-pay (search for similar items in EconPapers)
JEL-codes: D11 D60 (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0165176511003302
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:114:y:2012:i:1:p:43-46

DOI: 10.1016/j.econlet.2011.09.001

Access Statistics for this article

Economics Letters is currently edited by Economics Letters Editorial Office

More articles in Economics Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().