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The Power of Incentives
Alekseev, Aleksandr
(2022)
The Power of Incentives.
Working Paper.
(Unveröffentlicht)
Veröffentlichungsdatum dieses Volltextes: 14 Nov 2022 13:50
Monographie
DOI zum Zitieren dieses Dokuments: 10.5283/epub.53030
Zusammenfassung
I study an optimal design of monetary incentives in experiments where incentives are a treatment variable. I introduce the Budget Minimization problem in which a researcher chooses the level of incentives that allows her to detect a predicted treatment effect while minimizing her expected budget. The Budget Minimization problem builds upon the power analysis and structural modeling. It extends ...
I study an optimal design of monetary incentives in experiments where incentives are a treatment variable. I introduce the Budget Minimization problem in which a researcher chooses the level of incentives that allows her to detect a predicted treatment effect while minimizing her expected budget. The Budget Minimization problem builds upon the power analysis and structural modeling. It extends the standard optimal design approach by explicitly making the budget a part of the objective function. I show theoretically that the problem has an interior solution under fairly mild conditions. I illustrate the applications of the Budget Minimization problem using existing experiments and offer a practical guide for implementing it. My approach adds to the experimental economists' toolkit for an optimal design, however, it also challenges some conventional design recommendations.
Beteiligte Einrichtungen
Details
| Dokumentenart | Monographie (Working Paper) |
| Datum | 14 Juli 2022 |
| Institutionen | Wirtschaftswissenschaften > Institut für Volkswirtschaftslehre und Ökonometrie > Lehrstuhl für Empirische Wirtschaftsforschung - Prof. Lea Cassar |
| Stichwörter / Keywords | incentives, economic experiments, experimental design, power analysis, sample size, effect size |
| Dewey-Dezimal-Klassifikation | 300 Sozialwissenschaften > 330 Wirtschaft |
| Status | Unveröffentlicht |
| Begutachtet | Nein, diese Version wurde noch nicht begutachtet (bei preprints) |
| An der Universität Regensburg entstanden | Ja |
| URN der UB Regensburg | urn:nbn:de:bvb:355-epub-530303 |
| Dokumenten-ID | 53030 |
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