Incentive Magnitude Effects in Experimental Games: Bigger is not Necessarily Better
Briony Pulford (),
Andrew M. Colman () and
Graham Loomes ()
Additional contact information
Andrew M. Colman: Department of Neuroscience, Psychology and Behaviour, University of Leicester, Leicester LE1 7RH, UK
Games, 2018, vol. 9, issue 1, 1-10
In experimental games, task-related incentives are payments to experimental subjects that vary according to their strategy choices and the consequent outcomes of the games. Limited evidence exists regarding incentive magnitude effects in experimental games. We examined one-off strategy choices and self-reported reasons for choices in eight 3 × 3 and four 4 × 4 normal-form games under task-related incentives of conventional magnitude and compared them with choices and reasons in the same games under incentives five times as large. Both strategy choices and self-reported reasons for choices were almost indistinguishable between the two conditions. These results are in line with earlier findings on individual decision making and with a parametric model, in which the incentive elasticity of effort is very small when compared with other factors, such as the complexity of the decision problem.
Keywords: capital-labor-production framework; crowding out; experimental games; incentives; incentive elasticity of effort; reasons for choices (search for similar items in EconPapers)
JEL-codes: C C7 C70 C71 C72 C73 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:gam:jgames:v:9:y:2018:i:1:p:4-:d:127477
Access Statistics for this article
Games is currently edited by Prof. Dr. Ulrich Berger
More articles in Games from MDPI, Open Access Journal
Bibliographic data for series maintained by XML Conversion Team ().