Glimcher, Paul; Tymula, Agnieszka; Woelbert, Eva - School of Economics, Faculty of Arts and Social Sciences - 2013
Economists have long been interested in mechanisms that lead to truthful revelation of the relative values individuals place on diff erent goods. In this paper we take one of the most popular of such mechanisms, and show that valuations obtained using the Becker-DeGroot-Marschak (BDM) procedure...