Pay all subjects or pay only some? An experiment on decision-making under risk and ambiguity

IF 2.5 2区经济学 Q2 ECONOMICS Journal of Economic Psychology Pub Date : 2024-08-14 DOI:10.1016/j.joep.2024.102757

Ilke Aydogan , Loïc Berger , Vincent Théroude

引用次数: 0

Abstract

We investigate the validity of a double random incentive system where only a subset of subjects is paid for one of their choices. By focusing on individual decision-making under risk and ambiguity, we show that using either a standard random incentive system, where all subjects are paid, or a double random system, where only 10% of subjects are paid, yields similar preference elicitation results. These findings suggest that adopting a double random incentive system could significantly reduce experimental costs and logistic efforts, thereby facilitating the exploration of individual decision-making in larger-scale and higher-stakes experiments.

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付给所有受试者还是只付给部分受试者？风险和模糊条件下的决策实验

我们研究了双随机激励系统的有效性，在该系统中，只有一部分受试者会为他们的一项选择获得报酬。通过关注风险和模糊条件下的个人决策，我们发现，无论是使用标准随机激励系统（即所有受试者都获得报酬），还是使用双随机激励系统（即只有 10% 的受试者获得报酬），都能产生类似的偏好激发结果。这些研究结果表明，采用双随机激励系统可以大大降低实验成本和后勤工作，从而促进在更大规模和更高风险的实验中对个人决策的探索。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Economic Psychology Multiple-

CiteScore

5.20

自引率

31.40%

发文量

审稿时长

63 days

期刊介绍： The Journal aims to present research that will improve understanding of behavioral, in particular psychological, aspects of economic phenomena and processes. The Journal seeks to be a channel for the increased interest in using behavioral science methods for the study of economic behavior, and so to contribute to better solutions of societal problems, by stimulating new approaches and new theorizing about economic affairs. Economic psychology as a discipline studies the psychological mechanisms that underlie economic behavior. It deals with preferences, judgments, choices, economic interaction, and factors influencing these, as well as the consequences of judgements and decisions for economic processes and phenomena. This includes the impact of economic institutions upon human behavior and well-being. Studies in economic psychology may relate to different levels of aggregation, from the household and the individual consumer to the macro level of whole nations. Economic behavior in connection with inflation, unemployment, taxation, economic development, as well as consumer information and economic behavior in the market place are thus among the fields of interest. The journal also encourages submissions dealing with social interaction in economic contexts, like bargaining, negotiation, or group decision-making. The Journal of Economic Psychology contains: (a) novel reports of empirical (including: experimental) research on economic behavior; (b) replications studies; (c) assessments of the state of the art in economic psychology; (d) articles providing a theoretical perspective or a frame of reference for the study of economic behavior; (e) articles explaining the implications of theoretical developments for practical applications; (f) book reviews; (g) announcements of meetings, conferences and seminars.