An augmented Becker-DeGroot-marschak mechanism for transaction cycles

DOI10.1016/J.ECONLET.2011.09.001zbMATH Open1241.91050OpenAlexW3122767628MaRDI QIDQ429130FDOQ429130

Authors: Thomas A. Weber 

Publication date: 26 June 2012

Published in: Economics Letters (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.econlet.2011.09.001

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zbMATH Keywords

endowment effectcompensating variationequivalent variationwelfare changewillingness-to-acceptwillingness-to-pay

Mathematics Subject Classification ID

Utility theory (91B16) Welfare economics (91B15)

Cites Work

• Microeconomic theory
• An exact relation between willingness to pay and willingness to accept

Cited In (1)

• The Becker-deGroot-Marschak mechanism is not necessarily incentive compatible, even for non-random goods

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