Monetary incentives, what are they good for?

Journal of Economic Methodology 12 (2):265-276 (2005)

Abstract
This paper is a critical reflection on the use of monetary incentives in economic experiments. The argument is that incentives have their effect through their influence on one or more of three factors: (1) cognitive exertion; (2) motivational focus; (3) emotional triggers. I suggest that these effects can often be achieved without monetary incentives, and incentives are not even guaranteed to achieve those effects. There are also disadvantages to requiring the use of incentives in experiments. The paper concludes by suggesting there is no basis for requiring the use of real incentives to do experimental economics.
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DOI 10.1080/13501780500086180
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References found in this work BETA

The Foundations of Statistics.Leonard J. Savage - 1954 - Wiley Publications in Statistics.
Effect of Change of Payoff in Probability Learning.N. John Castellan Jr - 1969 - Journal of Experimental Psychology 79 (1p1):178.

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