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House money effects in public good experiments: Comment

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  • Glenn Harrison

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Abstract

We reconsider evidence from experiments that claim to show that using “house money” in standard public goods experiments has no effect on behavior. We show that it does have an effect when one examines the data using appropriate statistical methods that consider individual-level responses and account for the error structure of the panel data. Copyright Economic Science Association 2007

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File URL: http://hdl.handle.net/10.1007/s10683-006-9145-x
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Bibliographic Info

Article provided by Springer in its journal Experimental Economics.

Volume (Year): 10 (2007)
Issue (Month): 4 (December)
Pages: 429-437

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Handle: RePEc:kap:expeco:v:10:y:2007:i:4:p:429-437

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Web page: http://www.springerlink.com/link.asp?id=102888

Related research

Keywords: Public goods; Experimental economics;

References

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  1. Cherry, Todd L. & Kroll, Stephan & Shogren, Jason F., 2005. "The impact of endowment heterogeneity and origin on public good contributions: evidence from the lab," Journal of Economic Behavior & Organization, Elsevier, vol. 57(3), pages 357-365, July.
  2. Botelho, Anabela & Harrison, Glenn W. & Pinto, Lígia M. Costa & Rutström, Elisabet E., 2009. "Testing static game theory with dynamic experiments: A case study of public goods," Games and Economic Behavior, Elsevier, vol. 67(1), pages 253-265.e3, September.
  3. Jeremy Clark, 2002. "House Money Effects in Public Good Experiments," Experimental Economics, Springer, vol. 5(3), pages 223-231, December.
  4. Smith, Vernon L, 1982. "Microeconomic Systems as an Experimental Science," American Economic Review, American Economic Association, vol. 72(5), pages 923-55, December.
  5. Nathaniel T Wilcox, 2006. "Theories of Learning in Games and Heterogeneity Bias," Econometrica, Econometric Society, vol. 74(5), pages 1271-1292, 09.
  6. Joseph Hilbe, 1993. "Generalized linear models," Stata Technical Bulletin, StataCorp LP, vol. 2(11).
  7. John Hey, 2005. "Why We Should Not Be Silent About Noise," Experimental Economics, Springer, vol. 8(4), pages 325-345, December.
  8. Ballinger, T Parker & Wilcox, Nathaniel T, 1997. "Decisions, Error and Heterogeneity," Economic Journal, Royal Economic Society, vol. 107(443), pages 1090-1105, July.
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Citations

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Cited by:
  1. Diederich, Johannes & Goeschl, Timo, 2011. "Willingness to Pay for Individual Greenhouse Gas Emissions Reductions: Evidence from a Large Field Experiment," Working Papers 0517, University of Heidelberg, Department of Economics.
  2. Curtis R. Price & Roman M. Sheremeta, 2012. "Endowment Origin, Demographic Effects and Individual Preferences in Contests," Working Papers 12-07, Chapman University, Economic Science Institute.
  3. Jing, Lin & Cheo, Roland, 2013. "House money effects, risk preferences and the public goods game," Economics Letters, Elsevier, vol. 120(2), pages 310-313.
  4. William Morrison and Robert Oxoby, 2010. "Loss Aversion in the Laboratory," LCERPA Working Papers lm0072, Laurier Centre for Economic Research and Policy Analysis, revised 1970.
  5. Martin Fochmann & Arne Kleinstück, 2012. "Steueraversion - Sind wir wirklich bereit auf Einkommen zu verzichten, nur um Steuern zu sparen?," FEMM Working Papers 120024, Otto-von-Guericke University Magdeburg, Faculty of Economics and Management.
  6. Pablo Brañas-Garza & Marisa Bucheli & Teresa Garcia-Muñoz, 2011. "Dynamic panel data: A useful technique in experiments," ThE Papers 10/22, Department of Economic Theory and Economic History of the University of Granada..
  7. David Reinstein & Gerhard Reiner, 2009. "Desert and Tangibility: Decomposing House Money Effects in a Charitable Giving Experiment," Economics Discussion Papers 680, University of Essex, Department of Economics.
  8. Nicolas Jacquemet & Robert-Vincent Joule & Stephane Luchini & Jason Shogren, 2009. "Earned wealth, engaged bidders? Evidence from a second price auction," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00429894, HAL.
  9. repec:hal:wpaper:halshs-00277283 is not listed on IDEAS
  10. Katarína Danková & Maroš Servátka, 2014. "The House Money Effect and Negative Reciprocity," Working Papers in Economics 14/06, University of Canterbury, Department of Economics and Finance.
  11. Christoph Engel & Peter G. Moffat, 2012. "Estimation of the House Money Effect Using Hurdle Models," Working Paper Series of the Max Planck Institute for Research on Collective Goods 2012_13, Max Planck Institute for Research on Collective Goods.
  12. Brice Corgnet & Roberto Hernán & Praveen Kujal & David Porter, 2013. "The effect of earned vs. house money on price bubble formation in experimental asset markets," Economics Working Papers we1304, Universidad Carlos III, Departamento de Economía.
  13. Carlsson, Fredrik & He, Haoran & Martinsson, Peter, 2009. "Easy come, easy go - The role of windfall money in lab and field experiments," Working Papers in Economics 374, University of Gothenburg, Department of Economics.
  14. Cherry, Todd L. & Cotten, Stephen J. & Jones, Luke R., 2013. "The appropriation of endogenously provided common-pool resources," Resource and Energy Economics, Elsevier, vol. 35(3), pages 329-341.
  15. Mosi Rosenboim & Tal Shavit, 2012. "Whose money is it anyway? Using prepaid incentives in experimental economics to create a natural environment," Experimental Economics, Springer, vol. 15(1), pages 145-157, March.
  16. repec:hal:journl:halshs-00429894 is not listed on IDEAS
  17. Zizzo, Daniel John, 2013. "Claims and confounds in economic experiments," Journal of Economic Behavior & Organization, Elsevier, vol. 93(C), pages 186-195.
  18. Johannes Diederich & Timo Goeschl, 2014. "Willingness to Pay for Voluntary Climate Action and Its Determinants: Field-Experimental Evidence," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 57(3), pages 405-429, March.

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