Roosen, Jutta; Marette, Stephan; Blanchemanche, Sandrine - In: Economics Bulletin 30 (2010) 2, pp. 1554-1563
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...