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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