Combining "real effort" with induced effort costs: the ball-catching task.

Exp Econ

CeDEx and School of Economics, University of Nottingham, Sir Clive Granger Building, University Park, Nottingham, NG7 2RD UK.

Published: September 2015

AI Article Synopsis

  • The "ball-catching task" is a new computerized experiment that merges a physical action (catching balls) with a cost of effort, allowing researchers to assess how effort changes based on manipulated costs and outcomes.
  • In experiments featuring piece-rate incentives, the task demonstrated high accuracy in predicting effort, aligning closely with established theories in behavioral economics.
  • This task offers a practical approach for testing theories and applications in experimental economics by blending real effort actions with incentive-driven values.

Article Abstract

We introduce the "ball-catching task", a novel computerized task, which combines a tangible action ("catching balls") with induced material cost of effort. The central feature of the ball-catching task is that it allows researchers to manipulate the cost of effort function as well as the production function, which permits quantitative predictions on effort provision. In an experiment with piece-rate incentives we find that the comparative static and the point predictions on effort provision are remarkably accurate. We also present experimental findings from three classic experiments, namely, team production, gift exchange and tournament, using the task. All of the results are closely in line with the stylized facts from experiments using purely induced values. We conclude that the ball-catching task combines the advantages of real effort tasks with the use of induced values, which is useful for theory-testing purposes as well as for applications.

Download full-text PDF

Source
http://www.ncbi.nlm.nih.gov/pmc/articles/PMC5153668PMC
http://dx.doi.org/10.1007/s10683-015-9465-9DOI Listing

Publication Analysis

Top Keywords

ball-catching task
12
task combines
8
cost effort
8
predictions effort
8
effort provision
8
induced values
8
effort
6
task
5
combining "real
4
"real effort"
4

Similar Publications

Want AI Summaries of new PubMed Abstracts delivered to your In-box?

Enter search terms and have AI summaries delivered each week - change queries or unsubscribe any time!