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Monetary Incentives: Usually Neither Necessary Nor Sufficient?

  • Andreas Ortmann
  • Ralph Hertwig

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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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
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Handle: RePEc:cer:papers:wp307
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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. Todd L. Cherry & Peter Frykblom & Jason F. Shogren, 2002. "Hardnose the Dictator," American Economic Review, American Economic Association, vol. 92(4), pages 1218-1221, September.
  3. repec:cup:cbooks:9780521618618 is not listed on IDEAS
  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.
  5. Andreas Ortmann & Ralph Hertwig, 2002. "The Costs of Deception: Evidence From Psychology," Game Theory and Information 0203001, EconWPA.
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