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

Ofra Amir, David G. Rand, Yakov Gal

Research output: Contribution to journalArticlepeer-review

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.
Original languageEnglish
Pages (from-to)1-4
Number of pages4
JournalPLoS ONE
Volume7
Issue number2
DOIs
Publication statusPublished - 21 Feb 2012

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