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Experimental Evaluation of Random Incentive System under Ambiguity

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  • Tomohito Aoyama
  • Nobuyuki Hanaki

Abstract

The random incentive system (RIS) is a standard incentive scheme used to elicit preferences in economic experiments. However, it has been speculated that RIS may distort observed preferences. We examine the performance of RIS under ambiguity with two sets of experiments, our own and another replicating the main treatments of Baillon et al. (2022a). Contrary to Baillon et al. (2022a), who report a significantly lower proportion of participants revealing strict ambiguity aversion in the treatment with RIS than the one without, we do not find such evidence either in our own or in replication of Baillon et al. (2022a).

Suggested Citation

  • Tomohito Aoyama & Nobuyuki Hanaki, 2024. "Experimental Evaluation of Random Incentive System under Ambiguity," ISER Discussion Paper 1236r, Institute of Social and Economic Research, The University of Osaka, revised May 2025.
    • Handle: RePEc:dpr:wpaper:1236r
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