Experimental Evaluation of Random Incentive System under Ambiguity

Material type: 文書・図像類

Author: Aoyama, Tomohitoほか

Publisher: The Institute of Social and Economic Research, Osaka University

Publication date: 2024-03

Material Format: Paper

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Note (General)：: The random incentive system (RIS) is a standard incentive scheme used to elicit preferences in economic experiments. However, it has been speculated t...

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Paper

Material Type: 文書・図像類
Title: Experimental Evaluation of Random Incentive System under Ambiguity
Author/Editor: Aoyama, Tomohito
Hanaki, Nobuyuki
Author Heading: Aoyama, Tomohito
Hanaki, Nobuyuki
https://nrid.nii.ac.jp/nrid/1000070400611
Publication, Distribution, etc.: The Institute of Social and Economic Research, Osaka University
Publication Date: 2024-03
Publication Date (W3CDTF): 2024-03
Periodical title: Institute of Social and Economic Research Discussion Papers
No. or year of volume/issue: 1236
Volume: 1236
Pages: 1-33
ISSN (Periodical Title): PISSN : 0473453X
EISSN : 24350982
Text Language Code: eng
Subject Heading: Random incentive system
Incentive compatibility
Ambiguity
Prince
Target Audience: 一般
Note (General): The random incentive system (RIS) is a standard incentive scheme used to elicit preferences in economic experiments. However, it has been speculated that RIS may not be incentive compatible when participants are concerned about ambiguity, i.e., that the choices observed under RIS do not reflect the underlying preferences. To examine the performance of RIS under ambiguity, we conducted three experiments online and in a laboratory. The results of the experiments uggest that RIS is incentive compatible. We argue that presenting choice situations in isolation may improve the incentive compatibility of RIS. We also argue that using RIS, together with an experimental guideline called Prince, may reduce the observed ambiguity aversion.
References (URI): URI
https://www.iser.osaka-u.ac.jp/library/dp/2024/DP1236.pdf
Data Provider (Database): 国立情報学研究所 : 学術機関リポジトリデータベース（IRDB）（機関リポジトリ）
https://irdb.nii.ac.jp
Original Data Provider (Database): 大阪大学 : 大阪大学学術情報庫　桜華