BDM

Definition : Becker-DeGroot-Marschak
Category : Business » Business Terms
Country/Region : Worldwide Worldwide
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Initialism

What does BDM mean?

Becker-DeGroot-Marschak (BDM) method, is a method of measuring Willingness-To-Pay (WTP) in experimental economics. It is also widely used in behavioral economics, marketing research, and neuroimaging studies of human decision making. BDM is named after Gordon M. Becker, Morris H. DeGroot, and Jacob Marschak for the 1964 Behavioral Science paper.

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