Revealing consumers' willingness-to-pay: a comparison of the BDM mechanism and the Vickrey auction

Article Abstract:

Demand-revealing auction is a strategy to obtain willingness-to-pay-information for new products. The demand revelation capabilities of the Becker-DeGroot-Marschak mechanism and the Vickrey auction are compared to obtain willingness-to-pay information from a sample of French consumers. The procedures followed in the study indicated that Vickrey auction is more effective than BDM method.

Comparative analysis, New products, Product introduction, New technique, Demand functions (Economics), Demand functions

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Consumer sentiment and macroeconomic forecasts

Article Abstract:

The expected income and uncertainty about this income are studied as the variables impacting consumer sentiment. These variables are quantified by average of growth rate and dispersion in growth forecasts are studied through regression analysis among Belgian consumers.

Belgium

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Invest now, drink later, spend never: on the mental accounting of delayed consumption

Article Abstract:

A study on consumer behavior towards monetary transactions, such as investing, spending, with relation to mental accounting is presented

United States, Consumer Expenditures, Private Households, Stationery stores, Consumer Exp-Stationery,Writing Suppl, Consumer Expend-Food & Tobacco, Consumer Expend-Health & Recreation, Consumer Expend-Reading & Recreation, Consumption (Economics), Consumer spending

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