Auction system

Updated on 19/06/2018
Sens technique
Issue related to the valuation of a good/property in a contingent valuation, which can be considered in different ways. The first of them corresponds to a system of increasing or decreasing successive bids. Example: we propose an amount to the individual and, according to his response (acceptance or rejection), we propose a second amount (higher or lower), then a third amount, and so on. The criticisms made to this mechanism are for the most part linked to the fact that responses are highly dependent on the first offer.
According to Robert Cameron Mitchell (economist)
Thématiques associées
Review status
Soumis au comité de relecture.