Incentives in experimental economics
2021
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.
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