Do People Stand by their Commitments? Evidence from Classroom Experiments
AbstractIn this paper we test the fulfillment of commitments in terms of effort made by students under an incentive contract but without strategic interactions. Accordingly it is an experimental contribution to decision theory. The experiments took place in classrooms during class time. Students have to announce a level and realize a level of effort virtually. The two levels of effort can differ and the game is made in such a way that students have interest not the stand by their commitments that to make their two levels of effort different. The results show however that an important percentage of students respect their commitment and that a freezing effect can be identified.
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Bibliographic InfoPaper provided by Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), University of Nice Sophia Antipolis in its series GREDEG Working Papers with number 2014-03.
Length: 20 pages
Date of creation: Jan 2014
Date of revision:
commitment; freezing effect; classroom experiments; level of effort;
Find related papers by JEL classification:
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- D90 - Microeconomics - - Intertemporal Choice - - - General
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