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Data for Incentive magnitude effects in experimental games : bigger is not necessarily better
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Loomes, Graham, Pulford, Briony and Colman, Andrew (2019) Data for Incentive magnitude effects in experimental games : bigger is not necessarily better. [Dataset]
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Official URL: https://doi.org/10.5255/UKDA-SN-853538
Abstract
In experimental games, task-related incentives are payments to experimental subjects that vary according to their strategy choices and the consequent outcomes of the games. Limited evidence exists regarding incentive magnitude effects in experimental games. We examined one-off strategy choices and self-reported reasons for choices in eight 3 × 3 and four 4 × 4 normal-form games under task-related incentives of conventional magnitude and compared them with choices and reasons in the same games under incentives five times as large. Both strategy choices and self-reported reasons for choices were almost indistinguishable between the two conditions. These results are in line with earlier findings on individual decision making and with a parametric model, in which the incentive elasticity of effort is very small when compared with other factors, such as the complexity of the decision problem.
Item Type: | Dataset | |||||||||
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Subjects: | H Social Sciences > HB Economic Theory | |||||||||
Divisions: | Faculty of Social Sciences > Warwick Business School | |||||||||
Type of Data: | Experimental data | |||||||||
Library of Congress Subject Headings (LCSH): | Game theory, Incentive (Psychology), Experimental economics, Factors of production, Decision making | |||||||||
Publisher: | University of Warwick, Warwick Business School | |||||||||
Official Date: | 19 March 2019 | |||||||||
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Status: | Not Peer Reviewed | |||||||||
Publication Status: | Published | |||||||||
Media of Output (format): | .xlsx | |||||||||
Access rights to Published version: | Open Access (Creative Commons) | |||||||||
Copyright Holders: | University of Warwick | |||||||||
Description: | Data record consists of a readme file supplementing the games described in the main article. |
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