An augmented Becker-DeGroot-marschak mechanism for transaction cycles

DOI10.1016/J.ECONLET.2011.09.001MaRDI QIDQ429130zbMATHOpenAlexFDO

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

zbMATH Keywords

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

Mathematics Subject Classification ID

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

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Cites work

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

Cited in

(1)

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

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