Incentives in experiments with objective lotteries
Christopher Chambers and
Paul J. Healy ()
Additional contact information
Paul J. Healy: The Ohio State University
Experimental Economics, 2020, vol. 23, issue 1, No 1, 29 pages
Abstract Azrieli et al. (J Polit Econ, 2018) provide a characterization of incentive compatible payment mechanisms for experiments, assuming subjects’ preferences respect dominance but can have any possible subjective beliefs over random outcomes. If instead we assume subjects view probabilities as objective—for example, when dice or coins are used—then the set of incentive compatible mechanisms may grow. In this paper we show that it does, but the added mechanisms are not widely applicable. As in the subjective-beliefs framework, the only broadly-applicable incentive compatible mechanism (assuming all preferences that respect dominance are admissible) is to pay subjects for one randomly-selected decision.
Keywords: Experimental design; Decision theory; Mechanism design (search for similar items in EconPapers)
JEL-codes: C90 D81 D84 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed
Downloads: (external link)
http://link.springer.com/10.1007/s10683-019-09607-0 Abstract (text/html)
Access to the full text of the articles in this series is restricted.
Working Paper: Incentives in Experiments with Objective Lotteries (2016)
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:kap:expeco:v:23:y:2020:i:1:d:10.1007_s10683-019-09607-0
Ordering information: This journal article can be ordered from
http://www.springer. ... ry/journal/10683/PS2
Access Statistics for this article
Experimental Economics is currently edited by David J. Cooper, Lata Gangadharan and Charles N. Noussair
More articles in Experimental Economics from Springer, Economic Science Association Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().