On the provision of incentives in finance experiments
通过四种货币激励方案在三个金融实验中的应用,研究了激励方案的显著性对实验结果的影响,并调查了被试对激励方案的感知。发现显著方案间结果无差异,但非显著方案影响显著;参与次数影响被试对方案的感知和动机。
Abstract Monetary incentives are a procedural pillar in experimental economics. By applying four distinct monetary incentive schemes in three experimental finance applications, we investigate the impact of an incentive scheme’s salience on results and elicit subjects’ perception of the experienced scheme. We find (1) no differences in results between salient schemes but a significant impact if the incentive scheme is non-salient. (2) The number of previous participations has a significant impact on the perception of the incentive scheme by subjects: it strongly correlates with subjects’ motives for participation, positively contributes to subjects’ understanding of the incentive scheme, but has no influence on subjects’ motivation within the experiment. (3) Subjects favor more salient over less- or non-salient schemes in the gain domain and negatively evaluate high salience in the loss domain.