''Value Elicitation using BDM and a Discrete Choice Mechanism''
( 2010, Vol. 30 No.2 )
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 quantity offered to participants.