Hackethal Andreas, Kirchler Michael, Laudenbach Christine, Razen Michael, Weber Annika
Goethe University Frankfurt and Leibniz Institute for Financial Research SAFE, Frankfurt, Germany.
University of Innsbruck, Innsbruck, Austria.
J Risk Uncertain. 2023;66(2):189-213. doi: 10.1007/s11166-022-09377-w. Epub 2022 Apr 20.
Incentivized experiments in which individuals receive monetary rewards according to the outcomes of their decisions are regarded as the gold standard for preference elicitation in experimental economics. These task-related real payments are considered necessary to reveal subjects' "true preferences." Using a systematic, large-sample approach with three subject pools of private investors, professional investors, and students, we test the effect of task-related monetary incentives on risk preferences in four standard experimental tasks. We find no significant differences in behavior between and within subjects in the incentivized and non-incentivized regimes. We discuss implications for academic research and forions in the field.
The online version contains supplementary material available at 10.1007/s11166-022-09377-w.
在激励实验中，个体根据其决策结果获得金钱奖励，这被视为实验经济学中偏好诱导的黄金标准。这些与任务相关的实际报酬被认为是揭示受试者“真实偏好”所必需的。我们采用系统的大样本方法，对私人投资者、专业投资者和学生这三个受试者群体进行研究，在四个标准实验任务中测试与任务相关的货币激励对风险偏好的影响。我们发现，在有激励和无激励机制下，受试者之间以及受试者内部的行为没有显著差异。我们讨论了这对学术研究和该领域实践的影响。
在线版本包含可在10.1007/s11166-022-09377-w获取的补充材料。
