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Economic Games on the Internet: The Effect of $1 StakesOfra AmirBen-Gurion University of the Negev David G. RandHarvard University Ya'akov (Kobi) GalBen-Gurion University of the Negev December 3, 2011 PLoS ONE, Vol. 7, No. 2 Abstract: Online labor markets such as Amazon Mechanical Turk (MTurk) off er 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 una ffected 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.
Number of Pages in PDF File: 6 Keywords: online markets, economic games, stakes JEL Classification: C90 Accepted Paper SeriesDate posted: December 5, 2011 ; Last revised: February 22, 2012Suggested CitationContact Information
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