Incentives in experiments with objective lotteries

A-Tier
Journal: Experimental Economics
Year: 2020
Volume: 23
Issue: 1
Pages: 1-29

Authors (3)

Yaron Azrieli (Ohio State University) Christopher P. Chambers (not in RePEc) Paul J. Healy (not in RePEc)

Score contribution per author:

1.341 = (α=2.01 / 3 authors) × 2.0x A-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

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.

Technical Details

RePEc Handle
repec:kap:expeco:v:23:y:2020:i:1:d:10.1007_s10683-019-09607-0
Journal Field
Experimental
Author Count
3
Added to Database
2026-01-24