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Experimental Economics Research: Is there an alternative to having huge research budgets?

Author

Listed:
  • Amy Moore

    (Southern Utah University)

  • Michael Taylor

    (Berkeley Mathemarketics Group)

Abstract

The need to pay subjects to participate in experiments places a major financial burden on experimental economists. In this paper, we conduct dictator games and find that there is no difference in the way student subjects split money and extra-credit points, an encouraging result that suggests that giving course points could be a viable alternative to giving out cash in economic experiments.

Suggested Citation

  • Amy Moore & Michael Taylor, 2007. "Experimental Economics Research: Is there an alternative to having huge research budgets?," Economics Bulletin, AccessEcon, vol. 3(4), pages 1-6.
    • Handle: RePEc:ebl:ecbull:eb-06c90006
    as

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    File URL: http://www.accessecon.com/pubs/EB/2007/Volume3/EB-06C90006A.pdf
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    References listed on IDEAS

    as
    1. Camerer, Colin F & Hogarth, Robin M, 1999. "The Effects of Financial Incentives in Experiments: A Review and Capital-Labor-Production Framework," Journal of Risk and Uncertainty, Springer, vol. 19(1-3), pages 7-42, December.
    2. Brown Kruse, Jamie & Thompson, Mark A., 2001. "A comparison of salient rewards in experiments: money and class points," Economics Letters, Elsevier, vol. 74(1), pages 113-117, December.
    3. Smith, Vernon L, 1976. "Experimental Economics: Induced Value Theory," American Economic Review, American Economic Association, vol. 66(2), pages 274-279, May.
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    Cited by:

    1. Dorow, Anderson & Da Costa Jr, Newton & Takase, Emilio & Prates, Wlademir & Da Silva, Sergio, 2017. "On the neural substrates of the disposition effect and return performance," MPRA Paper 83354, University Library of Munich, Germany.
    2. Dorow, Anderson & da Costa, Newton & Takase, Emilio & Prates, Wlademir & Da Silva, Sergio, 2018. "On the neural substrates of the disposition effect and return performance," Journal of Behavioral and Experimental Finance, Elsevier, vol. 17(C), pages 16-21.

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    More about this item

    Keywords

    dictator games;

    JEL classification:

    • C9 - Mathematical and Quantitative Methods - - Design of Experiments

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