Using the Becker-DeGroot-Marschak Mechanism to Teach Willingness to Pay and Consumer Surplus

Jens Schubert

Journal of Economics Teaching, 2023, vol. 8, issue 1, 1-11

Abstract: The Becker DeGroot Marschak (BDM) mechanism is a widely-used technique to elicit subjects' willingness to pay for ordinary consumer and environmental goods. In this article, I ...

Keywords: Willingness to Pay; Consumer Surplus (search for similar items in EconPapers)
JEL-codes: A21 A22 (search for similar items in EconPapers)
Date: 2023
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