On the Reliability of the BDM Mechanism

References

• Banerji A, Gupta N (2014) Detection, identification, and estimation of loss aversion: Evidence from an auction experiment. Amer. Econom. J. Microeconom. 6(1):91–133.Crossref, Google Scholar
• Bartling B, Engl F, Weber RA (2015) Game form misconceptions are not necessary for a willingness-to-pay vs. willingness-to-accept gap. J. Econom. Sci. Assoc. 1(1):72–85.Crossref, Google Scholar
• Becker GM, DeGroot MH, Marschak J (1964) Measuring utility by a single-response sequential method. Systems Res. Behav. Sci. 9(3):226–232.Crossref, Google Scholar
• Benartzi S, Thaler RH (1995) Myopic loss aversion and the equity premium puzzle. Quart. J. Econom. 110(1):73–92.Crossref, Google Scholar
• Berinsky AJ, Huber GA, Lenz GS (2012) Evaluating online labor markets for experimental research: Amazon.com’s mechanical turk. Political Anal. 20(3):351–368.Crossref, Google Scholar
• Bertini M, Wathieu L, Iyengar SS (2012) The discriminating consumer: Product proliferation and willingness to pay for quality. J. Marketing Res. 49(1):39–49.Crossref, Google Scholar
• Bohm P, Lindén J, Sonnegård J (1997) Eliciting reservation prices: Becker–degroot–marschak mechanisms vs. markets. Econom. J. (London) 107(443):1079–1089.Google Scholar
• Boksem MA, Smidts A (2015) Brain responses to movie trailers predict individual preferences for movies and their population-wide commercial success. J. Marketing Res. 52(4):482–492.Crossref, Google Scholar
• Buhrmester M, Kwang T, Gosling SD (2011) Amazon’s mechanical turk: A new source of inexpensive, yet high-quality, data? Perspective Psych. Sci. 6(1):3–5.Crossref, Google Scholar
• Cao X, Zhang J (2021) Preference learning and demand forecast. Marketing Sci. 40(1):62–79.Link, Google Scholar
• Cason TN, Plott CR (2014) Misconceptions and game form recognition: Challenges to theories of revealed preference and framing. J. Political Econom. 122(6):1235–1270.Crossref, Google Scholar
• DellaVigna S, Pope D (2018) Predicting experimental results: Who knows what? J. Political Econom. 126(6):2410–2456.Crossref, Google Scholar
• Ding M, Grewal R, Liechty J (2005) Incentive-aligned conjoint analysis. J. Marketing Res. 42(1):67–82.Crossref, Google Scholar
• Fehr D, Hakimov R, Kübler D (2015) The willingness to pay–willingness to accept gap: A failed replication of plott and zeiler. Eur. Econom. Rev. 78:120–128.Crossref, Google Scholar
• Fox CR, Tversky A (1995) Ambiguity aversion and comparative ignorance. Quart. J. Econom. 110(3):585–603.Crossref, Google Scholar
• Franke N, Schreier M, Kaiser U (2010) The “I designed it myself” effect in mass customization. Management Sci. 56(1):125–140.Link, Google Scholar
• Frydman C, Nave G (2017) Extrapolative beliefs in perceptual and economic decisions: Evidence of a common mechanism. Management Sci. 63(7):2340–2352.Link, Google Scholar
• Genesove D, Mayer C (2001) Loss aversion and seller behavior: Evidence from the housing market. Quart. J. Econom. 116(4):1233–1260.Crossref, Google Scholar
• Glaeser EL, Laibson DI, Scheinkman JA, Soutter CL (2000) Measuring trust. Quart. J. Econom. 115(3):811–846.Crossref, Google Scholar
• Grether DM, Plott CR (1979) Economic theory of choice and the preference reversal phenomenon. Amer. Econom. Rev. 69(4):623–638.Google Scholar
• Guo L (2016) Contextual deliberation and preference construction. Management Sci. 62(10):2977–2993.Link, Google Scholar
• Guo L, Zhang J (2012) Consumer deliberation and product line design. Marketing Sci. 31(6):995–1007.Link, Google Scholar
• Hayes AF (2017) Introduction to Mediation, Moderation, and Conditional Process Analysis: A Regression-Based Approach (Guilford Publications).Google Scholar
• Heffetz O (2021) Are reference points merely lagged beliefs over probabilities? J. Econom. Behav. Organ. 181:252–269.Crossref, Google Scholar
• Horowitz JK (2006) The Becker-Degroot-Marschak mechanism is not necessarily incentive compatible, even for non-random goods. Econom. Lett. 93(1):6–11.Crossref, Google Scholar
• Irwin JR, McClelland GH, McKee M, Schulze WD, Norden NE (1998) Payoff dominance vs. cognitive transparency in decision making. Econom. Inquiry 36(2):272–285.Crossref, Google Scholar
• Kahneman D, Tversky A (1979) Prospect theory: An analysis of decision under risk. Econometrica 47(2):263–291.Crossref, Google Scholar
• Ke TT, Villas-Boas JM (2019) Optimal learning before choice. J. Econom. Theory. 180:383–437.Crossref, Google Scholar
• Kőszegi B, Rabin M (2006) A model of reference-dependent preferences. Quart. J. Econom. 121(4):1133–1165.Crossref, Google Scholar
• Kuziemko I, Norton MI, Saez E, Stantcheva S (2015) How elastic are preferences for redistribution? Evidence from randomized survey experiments. Amer. Econom. Rev. 105(4):1478–1508.Crossref, Google Scholar
• Lange A, Ratan A (2010) Multi-dimensional reference-dependent preferences in sealed-bid auctions: How (most) laboratory experiments differ from the field. Games Econom. Behav. 68(2):634–645.Crossref, Google Scholar
• List JA (2001) Do explicit warnings eliminate the hypothetical bias in elicitation procedures? Evidence from field auctions for sportscards. Amer. Econom. Rev. 91(5):1498–1507.Crossref, Google Scholar
• List JA (2004) Substitutability, experience, and the value disparity: Evidence from the marketplace. J. Environ. Econom. Management 47(3):486–509.Crossref, Google Scholar
• Mazar N, Koszegi B, Ariely D (2014) True context-dependent preferences? The causes of market-dependent valuations. J. Behav. Decision Making 27(3):200–208.Crossref, Google Scholar
• Meyer RJ, Zhao S, Han JK (2008) Biases in valuation vs. usage of innovative product features. Marketing Sci. 27(6):1083–1096.Link, Google Scholar
• Milkman KL, Minson JA, Volpp KG (2014) Holding the hunger games hostage at the gym: An evaluation of temptation bundling. Management Sci. 60(2):283–299.Link, Google Scholar
• Miller KM, Hofstetter R, Krohmer H, Zhang ZJ (2011) How should consumers’ willingness to pay be measured? An empirical comparison of state-of-the-art approaches. J. Marketing Res. 48(1):172–184.Crossref, Google Scholar
• Odean T (1998) Are investors reluctant to realize their losses? J. Finance 53(5):1775–1798.Crossref, Google Scholar
• Ofek E, Yildiz M, Haruvy E (2007) The impact of prior decisions on subsequent valuations in a costly contemplation model. Management Sci. 53(8):1217–1233.Link, Google Scholar
• Paolacci G, Chandler J (2014) Inside the turk: Understanding mechanical turk as a participant pool. Current Directives Psych. Sci. 23(3):184–188.Crossref, Google Scholar
• Paolacci G, Chandler J, Ipeirotis PG (2010) Running experiments on Amazon mechanical Turk. Judgment Decision Making 5(5):411419.Crossref, Google Scholar
• Park Y-H, Ding M, Rao VR (2008) Eliciting preference for complex products: A web-based upgrading method. J. Marketing Res. 45(5):562–574.Crossref, Google Scholar
• Plott CR, Zeiler K (2005) The willingness to pay-willingness to accept gap, the “endowment effect,” subject misconceptions, and experimental procedures for eliciting valuations. Amer. Econom. Rev. 95(3):530–545.Crossref, Google Scholar
• Prelec D, Simester D (2001) Always leave home without it: A further investigation of the credit-card effect on willingness to pay. Marketing Lett. 12(1):5–12.Crossref, Google Scholar
• Shugan SM (1980) The cost of thinking. J. Consumer Res. 7(2):99–111.Crossref, Google Scholar
• Smith A (2018) Lagged beliefs and reference-dependent utility. J. Econom. Behav. Organ.Google Scholar
• Smith VL, Walker JM (1993) Monetary rewards and decision cost in experimental economics. Econom. Inquiry 31(2):245–261.Crossref, Google Scholar
• Tversky A, Kahneman D (1991) Loss aversion in riskless choice: A reference-dependent model. Quart. J. Econom. 106(4):1039–1061.Crossref, Google Scholar
• Tymula A, Woelbert E, Glimcher P (2016) Flexible valuations for consumer goods as measured by the Becker–Degroot–Marschak mechanism. J. Neurosci. Psych. Econom. 9(2):65.Crossref, Google Scholar
• Weitzman ML (1979) Optimal search for the best alternative. Econometrica 47(3):641–654.Crossref, Google Scholar
• Wilcox NT (1993) Lottery choice: Incentives, complexity and decision time. Econom. J. (London) 103(421):1397–1417.Google Scholar
• Yang L, Toubia O, de Jong MG (2018) Attention, information processing, and choice in incentive-aligned choice experiments. J. Marketing Res. 55(6):783–800.Crossref, Google Scholar