Abstract
The incentives provided to participants are an important aspect in experimental economics. We discuss several aspects of experimental incentives: how they help to recruit subjects; why performance-based incentives can motivate careful decision making, and yet why sometimes experiments without performance-based incentives are also useful; paying for all rounds or only one round in multi-round experiments; paying all subjects or a subset of them; conversion rates of experimental currency to real money; non-monetary incentives; and incentives in field experiments.
| Original language | English |
|---|---|
| Article number | 101706 |
| Journal | Journal of Behavioral and Experimental Economics |
| Volume | 93 |
| DOIs | |
| State | Published - 1 Aug 2021 |
Keywords
- Design of experiments
- Experimental economics methodology
- Financial incentives
- Hypothetical experiments
- Incentives
- Performance-based incentives
ASJC Scopus subject areas
- Applied Psychology
- Economics and Econometrics
- General Social Sciences