Experimental Evaluation of Random Incentive System under Ambiguity

Tomohito Aoyama and Nobuyuki Hanaki

ISER Discussion Paper from Institute of Social and Economic Research, The University of Osaka

Abstract: The random incentive system (RIS) is a standard incentive scheme used to elicit preferences in economic experiments. However, it has been shown 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).

Date: 2024-03, Revised 2025-09
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https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/DP1236RR.pdf

Related works:
Working Paper: Experimental Evaluation of Random Incentive System under Ambiguity (2025)
Working Paper: Experimental Evaluation of Random Incentive System under Ambiguity (2024)
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