Becker-DeGroot-Marschak method
- Becker-DeGroot-Marschak method
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.
See also
*Vickrey auction
*Incentive compatibility
References
* http://www.ncbi.nlm.nih.gov/sites/entrez?cmd=Retrieve&db=PubMed&list_uids=5888778&dopt=Citation
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