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A technical note on the precise timing of behavioral events in economic experiments

Author

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  • Perakakis, Pandelis
  • Guinot-Saporta, José
  • Jaber-Lopez, Tarek
  • García-Gallego, Aurora
  • Georgantzis, Nikolaos

Abstract

The increasing use of physiological recordings in experimental economics requires a precise timing of interesting events, such as the presentation of a set of choices, the decision-making moment and the reception of feedback through the display of a decision outcome. In this note we provide a simple, accurate and inexpensive solution based on the use of external photo-sensors that detect changes in light intensity on the participants’ screens occurring in synchrony with experimental events. This system ensures an accurate communication between standard programs broadly used to run behavioral economic experiments, such as z-Tree, and eye-tracking devices or biosignal acquisition systems recording physiological variables, such as skin conductance, heart rate and electroencephalogram. An example is briefly discussed, offering specific guidelines for the application of this methodology in economic contexts with strategic interaction.

Suggested Citation

  • Perakakis, Pandelis & Guinot-Saporta, José & Jaber-Lopez, Tarek & García-Gallego, Aurora & Georgantzis, Nikolaos, 2019. "A technical note on the precise timing of behavioral events in economic experiments," Journal of Behavioral and Experimental Finance, Elsevier, vol. 21(C), pages 10-14.
    • Handle: RePEc:eee:beexfi:v:21:y:2019:i:c:p:10-14
    DOI: 10.1016/j.jbef.2018.08.002
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    References listed on IDEAS

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    Cited by:

    1. Leonidas Spiliopoulos & Andreas Ortmann, 2018. "The BCD of response time analysis in experimental economics," Experimental Economics, Springer;Economic Science Association, vol. 21(2), pages 383-433, June.
    2. Patrick Ring & Ulrich Schmidt, 2019. "Skin conductance responses in anticipation of gains and losses," Journal of the Economic Science Association, Springer;Economic Science Association, vol. 5(1), pages 38-50, August.
    3. Leonard Doyle & David Schindler, 2019. "$$\mu$$ μ Cap: connecting FaceReader™ to z-Tree," Journal of the Economic Science Association, Springer;Economic Science Association, vol. 5(1), pages 136-141, August.

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    More about this item

    Keywords

    Economic experiments; Timing of events; Psychophysiology; Physioeconomics; Eye tracking;
    All these keywords.

    JEL classification:

    • C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
    • C99 - Mathematical and Quantitative Methods - - Design of Experiments - - - Other
    • C88 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Other Computer Software
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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