Economic Games on the Internet: The Effect of $1 Stakes

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Economic Games on the Internet: The Effect of $1 Stakes

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Title: Economic Games on the Internet: The Effect of $1 Stakes
Author: Amir, Ofra; Gal, Ya'akov; Rand, David Gertler

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Citation: Amir, Ofra, David G. Rand, and Ya'akov Kobi Gal. 2012. Economic games on the internet: The effect of $1 stakes. PLoS ONE 7, no. 2: e31461.
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Abstract: Online labor markets such as Amazon Mechanical Turk (MTurk) offer an unprecedented opportunity to run economic game experiments quickly and inexpensively. Using Mturk, we recruited 756 subjects and examined their behavior in four canonical economic games, with two payoff conditions each: a stakes condition, in which subjects' earnings were based on the outcome of the game (maximum earnings of $1); and a no-stakes condition, in which subjects' earnings are unaffected by the outcome of the game. Our results demonstrate that economic game experiments run on MTurk are comparable to those run in laboratory settings, even when using very low stakes.
Published Version: doi://10.1371/journal.pone.0031461
Other Sources: http://www.ncbi.nlm.nih.gov/pmc/articles/PMC3283743/pdf/
Terms of Use: This article is made available under the terms and conditions applicable to Other Posted Material, as set forth at http://nrs.harvard.edu/urn-3:HUL.InstRepos:dash.current.terms-of-use#LAA
Citable link to this page: http://nrs.harvard.edu/urn-3:HUL.InstRepos:11210456
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