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And probably waffles least. Least biscuits and gravy.

And probably waffles least. Least biscuits and gravy.

And probably waffles least. Least biscuits and gravy.

Farm fresh eggs, maybe. Eight, nine dollars?

Farm fresh eggs, maybe. Eight, nine dollars?

Farm fresh eggs, maybe. Eight, nine dollars?

Maybe they want to impress you with how much they would be willing to pay. Or maybe they want to show off that they're a hard bargainer. And so they name something low. And so you worry that if you just ask them that you might not get the real response.

Maybe they want to impress you with how much they would be willing to pay. Or maybe they want to show off that they're a hard bargainer. And so they name something low. And so you worry that if you just ask them that you might not get the real response.

Maybe they want to impress you with how much they would be willing to pay. Or maybe they want to show off that they're a hard bargainer. And so they name something low. And so you worry that if you just ask them that you might not get the real response.

The experiment was actually about the parents' willingness to pay for educational and health goods for their kids.

The experiment was actually about the parents' willingness to pay for educational and health goods for their kids.

The experiment was actually about the parents' willingness to pay for educational and health goods for their kids.

As a result of that concern, a sort of more credible or commonly used way of doing it is to use this method called the Becker-DeGroote-Marshak or BDM method.

As a result of that concern, a sort of more credible or commonly used way of doing it is to use this method called the Becker-DeGroote-Marshak or BDM method.

As a result of that concern, a sort of more credible or commonly used way of doing it is to use this method called the Becker-DeGroote-Marshak or BDM method.

Yeah, so the key here is that this gives you the incentive to tell your true willingness to pay for the products.

Yeah, so the key here is that this gives you the incentive to tell your true willingness to pay for the products.

Yeah, so the key here is that this gives you the incentive to tell your true willingness to pay for the products.

They'd let us into their homes, you know, give us some place to sit. And then we'd say, OK, and now we're interested in selling you some goods for your kids.

They'd let us into their homes, you know, give us some place to sit. And then we'd say, OK, and now we're interested in selling you some goods for your kids.