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Jutta Roosen, Stephan Marette and Sandrine Blanchemanche
''Value Elicitation using BDM and a Discrete Choice Mechanism''
( 2010, Vol. 30 No.2 )
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
JEL: C9 - Design of Experiments: General
I1 - Health: General
Manuscript Received : May 16 2010 Manuscript Accepted : May 26 2010

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