Are the Vickrey Auction and the BDM Mechanism Really Incentive Compatible? - Empirical Results and Optimal Bidding Strategies in Cases of Uncertain Willingness-to-pay
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- Glimcher, Paul & Tymula, Agnieszka & Woelbert, Eva, 2013. "Flexible valuations for consumer goods as measured by the Becker-DeGroot-Marschak mechanism," Working Papers 2013-20, University of Sydney, School of Economics.
- Oben K Bayrak & Bengt KristrÃ¶m, 2016.
"Is there a valuation gap? The case of interval valuations,"
AccessEcon, vol. 36(1), pages 218-236.
- Bayrak, Oben K. & Kriström, Bengt, 2015. "Is there a valuation gap? The case of interval valuations," CERE Working Papers 2015:13, CERE - the Center for Environmental and Resource Economics.
- Sebastian Lehmann, 2014. "Toward an Understanding of the BDM: Predictive Validity, Gambling Effects, and Risk Attitude," FEMM Working Papers 150001, Otto-von-Guericke University Magdeburg, Faculty of Economics and Management.
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KeywordsBDM-mechanism; Discriminal Dispersion; Incentive Compatibility; Vickrey Auction; Willingness-to-pay;
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
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