Monetary payoffs and utility in laboratory experiments

• Published in: Journal of economic psychology Vol. 65; pp. 108 - 121
• Main Authors: Veszteg, Róbert F., Funaki, Yukihiko
• Format: Journal Article
• Language: English
• Published: Elsevier B.V 01.04.2018
• Subjects: Experimental method; Incentives; Induced-value method; Prisoners’ dilemma; Utility; Utility; Incentives; Prisoners’ dilemma; Experimental method; Induced-value method

•Perceived payoffs/games may be qualitatively different from the intended ones.•Perceived games differ from the intended ones in 40–80% of the cases.•More than 40% of participants indicate an objective different from monetary gains.•Participants are of different types in terms of their motivation an...