Becker-DeGroot-Marschak method

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The Becker-DeGroot-Marschak method, named after Gordon M. Becker, Morris H. DeGroot and Jacob Marschak, is a procedure used in experimental economics to measure willingness to pay (WTP) by coupling an auction with a randomly-generated buyer/seller.

[edit] See also

• Vickrey auction
• Incentive compatibility

[edit] References

• http://www.ncbi.nlm.nih.gov/sites/entrez?cmd=Retrieve&db=PubMed&list_uids=5888778&dopt=Citation