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How financial incentives and cognitive abilities affect task performance in laboratory settings: an illustration

  • Rydval, Ondrej
  • Ortmann, Andreas

Drawing on Gneezy and Rustichini (2000), we illustrate that subjects' cognitive abilities seem at least as important for their performance as do financial incentives they face. Theorists should thus pay more attention to the ability aspect of cognitive production.

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File URL: http://www.sciencedirect.com/science/article/B6V84-4D5KY1S-3/2/7836452e6afc1c6da2e63c0a094bfe9b
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Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 85 (2004)
Issue (Month): 3 (December)
Pages: 315-320

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Handle: RePEc:eee:ecolet:v:85:y:2004:i:3:p:315-320
Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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  1. Camerer, Colin F. & Hogarth, Robin M., 1999. "The Effects of Financial Incentives in Experiments: A Review and Capital-Labor-Production Framework," Working Papers 1059, California Institute of Technology, Division of the Humanities and Social Sciences.
  2. Smith, Vernon L & Walker, James M, 1993. "Monetary Rewards and Decision Cost in Experimental Economics," Economic Inquiry, Western Economic Association International, vol. 31(2), pages 245-61, April.
  3. Smith, Vernon L, 1976. "Experimental Economics: Induced Value Theory," American Economic Review, American Economic Association, vol. 66(2), pages 274-79, May.
  4. Wilcox, Nathaniel T, 1993. "Lottery Choice: Incentives, Complexity and Decision Time," Economic Journal, Royal Economic Society, vol. 103(421), pages 1397-1417, November.
  5. Eckel, Catherine, 1999. "Commentary on "The Effects of Financial Incentives in Experiments: A Review and Capital-Labor-Production Framework."," Journal of Risk and Uncertainty, Springer, vol. 19(1-3), pages 47-48, December.
  6. Ignacio Palacios-Huerta, 2003. "Learning to Open Monty Hall's Doors," Experimental Economics, Springer, vol. 6(3), pages 235-251, November.
  7. Uri Gneezy & Aldo Rustichini, 2000. "Pay Enough Or Don'T Pay At All," The Quarterly Journal of Economics, MIT Press, vol. 115(3), pages 791-810, August.
  8. Smith, Vernon L, 1982. "Microeconomic Systems as an Experimental Science," American Economic Review, American Economic Association, vol. 72(5), pages 923-55, December.
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