Testing the effectiveness of lottery incentives in online experiments
AMERICAN JOURNAL OF AGRICULTURAL ECONOMICS(2024)
摘要
This article investigates the effectiveness of lottery incentive schemes for eliciting consumer valuations in large-scale online experiments. We implement a fully incentivized condition within a geographically dispersed sample of consumers in which bids for a Criollo steak elicited by a Becker-DeGroot-Marschak mechanism are realized with certainty and the products are priority shipped in dry-ice coolers. The fully incentivized condition is compared to between-subject random incentivized schemes, in which only a fraction of subjects realize their choices. We tested two treatments with a 10% probability framed as a percentage or an absolute number of subjects, one treatment with a 1% probability, and a purely hypothetical reference condition. The results reveal that between-subject random incentivized schemes with 10% and 1% payment probabilities are effective in eliciting valuations that are statistically indistinguishable from the fully incentivized scheme. In addition to finding insignificant statistical differences between 10% and 1% and the fully incentivized scheme, all incentivized conditions mitigate hypothetical bias, resulting in lower product valuations than the purely hypothetical condition. We contribute a novel methodological framework for conducting large-scale experiments with geographically diverse and representative subjects, increasing the external validity and producing reliable valuations while significantly reducing financial and logistic constraints.
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关键词
Becker-DeGroot-Marschak mechanism,between-subject random incentivized scheme (BRIS),Criollo beef,hypothetical bias,large-scale experiments,random lottery incentives,sustainable beef,willingness to pay
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