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Financial Incentive Effects and Individual Decision-making

Grether, David M. (1981) Financial Incentive Effects and Individual Decision-making. Social Science Working Paper, 401. California Institute of Technology , Pasadena, CA. https://resolver.caltech.edu/CaltechAUTHORS:20171004-154556017

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Abstract

Though much of the literature of experimental psychology covers topics that seem relevant to economics, the literature is generally ignored by economists. Possibly the reason for this is that psychologists seldom use financial incentives to motivate subjects' choices. This paper provides an example of an individual decision-making experiment in which the presence or absence of financial incentives affects the subjects' behavior. The observed effects are not marginal but often involve qualitatively different types of responses.


Item Type:Report or Paper (Working Paper)
Additional Information:Support of the National Science Foundation is gratefully acknowledged. Charles R. Plott provided many helpful comments on an earlier draft.
Group:Social Science Working Papers
Funders:
Funding AgencyGrant Number
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Series Name:Social Science Working Paper
Issue or Number:401
Record Number:CaltechAUTHORS:20171004-154556017
Persistent URL:https://resolver.caltech.edu/CaltechAUTHORS:20171004-154556017
Usage Policy:No commercial reproduction, distribution, display or performance rights in this work are provided.
ID Code:82091
Collection:CaltechAUTHORS
Deposited By: Jacquelyn Bussone
Deposited On:04 Oct 2017 23:46
Last Modified:03 Oct 2019 18:50

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