Incentives in Experiments: a Theoretical Analysis
نویسندگان
چکیده
Experimental economists currently lack a convention for how to pay subjects in experiments with multiple tasks. We provide a theoretical framework for analyzing this question. Assuming monotonicity (dominated gambles are never chosen) and nothing else, we prove that paying for one randomly-chosen problem—the random problem selection (RPS) mechanism—is (usually) the only incentive compatible mechanism. Paying for every period is similarly justified when we assume only a ‘no complementarities at the top’ (NCaT) condition. Experimenters must decide case-by-case which assumption is appropriate. We also provide a simple test of incentive compatibility for any experiment.
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