Vecchio, Riccardo; Annunziata, Azzurra - In: Applied Economics Letters 22 (2015) 2, pp. 137-140
We evaluate the effects of monetary and nonmonetary endowments on willingness to pay (WTP) bids in Becker-DeGroot-Marschak (BDM) experimental auctions. Results indicate that subjects provided with a monetary endowment bid more than those that received a nonmonetary endowment.