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Most large-scale economic experiments use a between-subjects random incentive system-BRIS-which selects a subset of the participants at random and offers real payment only to the selected participants. We evaluate the relative impact of nominal payoffs and the selection probability on the...
Persistent link: https://www.econbiz.de/10011500169
of private investors, professional investors, and students, we test the effect of task-related monetary incentives on … risk preferences elicited in four standard experimental tasks. We find no systematic differences in behavior between …
Persistent link: https://www.econbiz.de/10012262354
of private investors, professional investors, and students, we test the effect of task-related monetary incentives on … risk preferences in four standard experimental tasks. We find no systematic differences in behavior between and within …
Persistent link: https://www.econbiz.de/10013545997
The random incentive system (RIS) is a standard incentive scheme used to elicit preferences in economic experiments. However, it has been speculated that RIS may not be incentive compatible when participants are concerned about ambiguity, i.e., that the choices observed under RIS do not reflect...
Persistent link: https://www.econbiz.de/10015046403
In incentive-alignment choice experiments, each decision is realized with some prob- ability prob 1. Incentive alignment induces truth telling, i.e., respondents do not consciously lie, given the information they have processed. However, based on the psychological distance literature and the...
Persistent link: https://www.econbiz.de/10011551349
individuals as more or less risk-averse without assuming a specic utility framework. In a laboratory experiment we compare both …We propose a new method to elicit individuals' risk preferences. Similar to Holt and Laury (2002), we use a simple … multiple price-list format. However, our method is based on a general notion of increasing risk, which allows classifying …
Persistent link: https://www.econbiz.de/10008757385
stimulate effort. Through a real-effort artefactual field experiment with factory workers and university students as a … comparison group in China, we examine how both psychological and financial incentives, together with attitudes toward risk, may … in attitudes toward risk. Indeed, for both groups financial and psychological incentive effects are both inversely …
Persistent link: https://www.econbiz.de/10011407820
of private investors, professional investors, and students, we test the effect of task-related monetary incentives on … risk preferences elicited in four standard experimental tasks. We find no systematic differences in behavior between …
Persistent link: https://www.econbiz.de/10012825027
of private investors, professional investors, and students, we test the effect of task-related monetary incentives on … risk preferences elicited in four standard experimental tasks. We find no systematic differences in behavior between …
Persistent link: https://www.econbiz.de/10012267510
the experiment are for real. The most common type pays every subject one out of her multiple tasks (within …. The present study investigates RISs in a more complex, dynamic choice experiment. We find that between …-subjects randomization reduces risk aversion. While within-subjects randomization delivers unbiased measurements of risk aversion, it does …
Persistent link: https://www.econbiz.de/10014219012