文章基本信息

标题：The Role of Confidence in Truthful Revelation of Private Values
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作者：Parkhurst, Gregory M. ; Nowell, Clifford
期刊名称：Journal of Agribusiness
印刷版ISSN：0738-8950
出版年度：2014
页码：193-208
出版社：Journal of Agribusiness
摘要：Recent research shows that disparities between willingness to pay (WTP) and willingness to accept (WTA) disappear with market experience and training. In effect, preferences can be refined by eliminating subjects’ misconceptions regarding elicitation procedures. We use a stated measure of confidence as a proxy for misconceptions and test the influence of confidence on truthful revelation of induced values in WTP and WTA auctions using the Becker-DeGroot-Marschak (BDM) mechanism. The results indicate that confidence matters for buyers and sellers. With confidence, WTA and WTP measures converge, and people with greater confidence choose the dominant bidding strategy more frequently.
关键词：BDM;Becker-DeGroot-Marschak mechanism;confidence;induced value;truthful revelation;willingness to accept;willingness to pay