Auction system

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.