Eliciting reservation prices: Becker-DeGroot-Marschak mechanisms vs. markets

被引：94

作者：

Bohm, P ^{[1
]}

Linden, J ^{[1
]}

Sonnegard, J ^{[1
]}

机构：

[1] UNIV UPPSALA,S-75105 UPPSALA,SWEDEN

来源：

ECONOMIC JOURNAL | 1997年 / 107卷 / 443期

关键词：

D O I：

10.1111/1468-0297.00207

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The Becker-DeGroot-Marschak (BDM) mechanism is used in experimental economics as an incentive-compatible procedure for eliciting reservation prices. It is found here, where seller prices are elicited, that the mechanism is sensitive to the choice of upper bound of the randomly generated buyout prices. Hence, the mechanism cannot be generally incentive compatible in practice. Two ways to specify the upper bound are identified which make the BDM mechanism yield mean seller prices that do not differ from those generated in an incentive-compatible market. The experimental market used here is designed so that traders are unable to influence transaction prices, even when the market is small.

引用

页码：1079 / 1089

页数：11

共 14 条

[1] MEASURING UTILITY BY A SINGLE-RESPONSE SEQUENTIAL METHOD [J].

BECKER, GM ;

DEGROOT, MH ;

MARSCHAK, J .

BEHAVIORAL SCIENCE, 1964, 9 (03) :226-232

[2] REVEALING DEMAND FOR AN ACTUAL PUBLIC GOOD [J].

BOHM, P .

JOURNAL OF PUBLIC ECONOMICS, 1984, 24 (02) :135-151

[3]

BOHM P, 1995, ELICITING RESERVATIO

[4]

BOYCE RR, 1992, AM ECON REV, V82, P1366

[5]

Davis D. D., 1993, EXPT EC

[6]

Green W. H., 1990, ECONOMETRIC ANAL

[7]

GRETHER DM, 1979, AM ECON REV, V69, P623

[8]

KACHELMEIER SJ, 1992, AM ECON REV, V82, P1120

[9] PREFERENCE REVERSAL AND THE OBSERVABILITY OF PREFERENCES BY EXPERIMENTAL METHODS [J].

KARNI, E ;

SAFRA, Z .

ECONOMETRICA, 1987, 55 (03) :675-685

[10]

LAZO J, 1992, UNPUB WHAT IS FUTURE

← 1 2 →