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Incentives in experimental economics

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  • Voslinsky, Alisa
  • Azar, Ofer H.

Abstract

The incentives provided to participants are an important aspect in experimental economics. We discuss several aspects of experimental incentives: how they help to recruit subjects; why performance-based incentives can motivate careful decision making, and yet why sometimes experiments without performance-based incentives are also useful; paying for all rounds or only one round in multi-round experiments; paying all subjects or a subset of them; conversion rates of experimental currency to real money; non-monetary incentives; and incentives in field experiments.

Suggested Citation

  • Voslinsky, Alisa & Azar, Ofer H., 2021. "Incentives in experimental economics," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 93(C).
    • Handle: RePEc:eee:soceco:v:93:y:2021:i:c:s221480432100046x
    DOI: 10.1016/j.socec.2021.101706
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