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Varying the scale of financial incentives under real and hypothetical conditions

Published online by Cambridge University Press:  06 November 2001

Charles A. Holt  and
Susan K. Laury
Charles A. Holt
Affiliation:
Department of Economics, University of Virginia, Charlottesville, VA 22903 cah2k@virginia.edu www.people.virginia.edu/~cah2k
Susan K. Laury
Affiliation:
Department of Economics, Georgia State University, Atlanta, GA 30303-3083 slaury@gsu.edu www.gsu.edu/~ecoskl
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Abstract

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The use of high hypothetical payoffs has been justified by the realism and relevance of large monetary consequences and by the impracticality of making high cash payments. We argue that subjects may not be able to imagine how they would behave in high payoff situations.

Type
Brief Report
Information
Behavioral and Brain Sciences , Volume 24 , Issue 3 , June 2001 , pp. 417 - 418
Copyright
© 2001 Cambridge University Press