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The Effects of (Incentivized) Belief Elicitation in Public Good Experiments

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  • Simon Gaechter

    ()
    (University of Nottingham)

  • Elke Renner

    ()
    (University of Nottingham)

Abstract

We investigate the impact of eliciting beliefs about the average contribution of other group members in finitely repeated public goods experiments. We find that belief accuracy is significantly higher when beliefs are incentivized. The distribution of beliefs as well as the relationship between contributions and beliefs are unaffected by incentives. Eliciting incentivized beliefs increases contribution levels relative to a benchmark treatment without belief elicitation, and significantly so in the latter half of the experiment. This result contradicts Croson (2000). We discuss the implications of our results for the design of experiments.

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Bibliographic Info

Paper provided by The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham in its series Discussion Papers with number 2006-16.

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Date of creation: Sep 2006
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Handle: RePEc:not:notcdx:2006-16

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Postal: School of Economics University of Nottingham University Park Nottingham NG7 2RD
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Fax: (0115) 951 4159
Web page: http://www.nottingham.ac.uk/economics/cedex/
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Keywords: Incentives; beliefs; experiments; public goods;

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References

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  1. Theo Offerman & Joep Sonnemans & Gijs Van De Kuilen & Peter P. Wakker, 2009. "A Truth Serum for Non-Bayesians: Correcting Proper Scoring Rules for Risk Attitudes ," Review of Economic Studies, Oxford University Press, vol. 76(4), pages 1461-1489.
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  4. Kocher, Martin G. & Cherry, Todd & Kroll, Stephan & Netzer, Robert J. & Sutter, Matthias, 2008. "Conditional cooperation on three continents," Munich Reprints in Economics 18211, University of Munich, Department of Economics.
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  8. Martin Dufwenberg & Simon Gaechter & Heike Hennig-Schmidt, 2006. "The Framing of Games and the Psychology of Strategic Choice," Discussion Papers 2006-20, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
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  11. Bhatt, Meghana & Camerer, Colin F., 2005. "Self-referential thinking and equilibrium as states of mind in games: fMRI evidence," Games and Economic Behavior, Elsevier, vol. 52(2), pages 424-459, August.
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  24. repec:kap:expeco:v:1:y:1998:i:1:p:43-62 is not listed on IDEAS
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