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

PLoS ONE, Vol. 7, No. 2

6 Pages Posted: 5 Dec 2011 Last revised: 29 Jan 2015

Ofra Amir

Ben-Gurion University of the Negev

David G. Rand

Yale University

Ya'akov (Kobi) Gal

Ben-Gurion University of the Negev

Date Written: December 3, 2011

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.

Keywords: online markets, economic games, stakes

JEL Classification: C90

Suggested Citation

Amir, Ofra and Rand, David G. and Gal, Ya'akov (Kobi), Economic Games on the Internet: The Effect of $1 Stakes (December 3, 2011). PLoS ONE, Vol. 7, No. 2 . Available at SSRN: https://ssrn.com/abstract=1968195 or http://dx.doi.org/10.2139/ssrn.1968195

Ofra Amir (Contact Author)

Ben-Gurion University of the Negev ( email )

1 Ben-Gurion Blvd
Beer-Sheba 84105, 84105
Israel

David G. Rand

Yale University ( email )

New Haven, CT 06520
United States

HOME PAGE: http://www.DaveRand.org

Ya'akov (Kobi) Gal

Ben-Gurion University of the Negev ( email )

1 Ben-Gurion Blvd
Beer-Sheba 84105, 84105
Israel

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