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Monetary Incentives: Usually Neither Necessary Nor Sufficient?

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Author Info

  • Andreas Ortmann
  • Ralph Hertwig

Abstract

Read (2005), in The Journal of Economic Methodology, took our target article in Behavioral and Brain Sciences (Hertwig & Ortmann 2001) as one point of departure to question the usefulness of monetary incentives for experimental work. In making his case, he misrepresents our analysis, and continues the unfortunate ritual of opportunistic sampling of evidence. As in our target article, we call for an empirical analysis of the impact of monetary incentives.

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Bibliographic Info

Paper provided by The Center for Economic Research and Graduate Education - Economic Institute, Prague in its series CERGE-EI Working Papers with number wp307.

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Date of creation: Sep 2006
Date of revision:
Handle: RePEc:cer:papers:wp307

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Related research

Keywords: Experimental practices; monetary incentives; financial incentives; rhetorical cactics.;

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References

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  1. John A. List, 2003. "Neoclassical Theory Versus Prospect Theory: Evidence from the Marketplace," NBER Working Papers 9736, National Bureau of Economic Research, Inc.
  2. Guala,Francesco, 2005. "The Methodology of Experimental Economics," Cambridge Books, Cambridge University Press, number 9780521853408, October.
  3. Andreas Ortmann & Ralph Hertwig, 2002. "The Costs of Deception: Evidence From Psychology," Game Theory and Information 0203001, EconWPA.
  4. Ondrej Rydval & Andreas Ortmann, 2004. "How financial incentives and cognitive abilities affect task performance in laboratory settings: An illustration," CERGE-EI Working Papers wp221, The Center for Economic Research and Graduate Education - Economic Institute, Prague.
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Cited by:
  1. Ortona, Guido & Ottone, Stefania & Ponzano, Ferruccio & Scacciati, Francesco, 2008. "Some differences in revealed behaviour under different inquiry methods," POLIS Working Papers 112, Institute of Public Policy and Public Choice - POLIS.
  2. Sarah Jacobson & Ragan Petrie, 2009. "Learning from mistakes: What do inconsistent choices over risk tell us?," Journal of Risk and Uncertainty, Springer, vol. 38(2), pages 143-158, April.

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