Dizon-Ross, Rebecca; Jayachandran, Seema - National Bureau of Economic Research - 2022
We propose and validate a simple way to augment the standard Becker-DeGroot-Marschak method that researchers use to elicit willingness to pay (WTP) for a good. The augmentation is to measure WTP for another good ("benchmark good"), one unrelated to both the good the researcher is interested in...