Do Monetary Incentives Matter in Classroom Experiments? Effects on Course Performance

REFERENCES

• Angrist, J., D. Lang, and P. Oreopoulos. 2009. Incentives and services for college achievement: Evidence from a randomized trial. American Economic Journal: Applied Economics 1 (1): 136–63.
   Web of Science ®Google Scholar
• Angrist, J., and V. Lavy. 2009. The effects of high stakes high school achievement awards: Evidence from a randomized trial. American Economic Review 90 (5): 1384–1414.
   Web of Science ®Google Scholar
• Bergstrom, T., and J. Miller. 2000. Experiments with economic principles. 2nd ed. Boston, MA: Irwin McGraw-Hill.
   Google Scholar
• Camerer, C.F., and R.M. Hogarth. 1999. The effects of financial incentives in experiments: A review and capital-labor-production framework. Journal of Risk and Uncertainty 19 (1): 7–42.
   Web of Science ®Google Scholar
• Carlsson, F., and P. Martinsson. 2001. Do hypothetical and actual marginal willingness to pay differ in choice experiments? Journal of Environmental Economics and Management 41 (2): 179–92.
   Web of Science ®Google Scholar
• Carter, L.K., and T.L. N. Emerson. 2012. In-class vs. online experiments: Is there a difference? Journal of Economic Education 43 (1): 4–18.
   Web of Science ®Google Scholar
• Cartwright, E., and A. Stepanova. 2012. What do students learn from a classroom experiment: Not much, unless they write a report on it. Journal of Economic Education 43 (1): 48–57.
   Web of Science ®Google Scholar
• Chamberlin, E.H. 1948. An experimental imperfect market. Journal of Political Economy 56 (2): 95–108.
   Web of Science ®Google Scholar
• Corrigan, J.R. 2011. The pollution game: A classroom game demonstrating the relative effectiveness of emissions taxes and tradable permits. Journal of Economic Education 42 (1): 70–78.
   Web of Science ®Google Scholar
• Corrigan, J.R., and M.C. Rousu. 2006. The effect of initial endowments in experimental auctions. American Journal of Agricultural Economics 88 (2): 448–57.
   Web of Science ®Google Scholar
• Delemester, G., and J. Brauer. 2000. Games economists play: Noncomputerized classroom games. Journal of Economic Education 31 (4): 406.
   Web of Science ®Google Scholar
• Dickie, M. 2006. Do classroom experiments increase learning in introductory microeconomics? Journal of Economic Education 37 (3): 267–88.
   Web of Science ®Google Scholar
• Durham, Y., T. McKinnon, and C. Schulman. 2007. Classroom experiments: Not just fun and games. Economic Inquiry 45 (1): 162–78.
   Web of Science ®Google Scholar
• Emerson, T., and D. Hazlett. 2012. Classroom experiments. In International handbook on teaching and learning economics, ed. G. Hoyt and K. McGoldrick, 90–98. Cheltenham, UK and Northampton, MA, USA: Edward Elgar.
   Google Scholar
• Emerson, T., and B. Taylor. 2004. Comparing student achievement across experimental and lecture-oriented sections of a principles of microeconomics course. Southern Economic Journal 70 (3): 672–93.
   Web of Science ®Google Scholar
• Gneezy, U., S. Meier, and P. Rey-Biel. 2011. When and why incentives (don’t) work to modify behavior. Journal of Economic Perspectives 25 (4): 191–209.
   Web of Science ®Google Scholar
• Gneezy, U., and A. Rustichini. 2000. Pay enough or don't pay at all. Quarterly Journal of Economics 115 (3): 791–810.
   Web of Science ®Google Scholar
• Harrison, G.W., and E.E. Rutström. 2008. Experimental evidence on the existence of hypothetical bias in value elicitation methods. In Handbook of experimental economics results, ed. C. Plott and V. Smith, 752–67. Amsterdam: North Holland.
   Google Scholar
• Hazlett, D. 1999. Economic experiments in the classroom. Reading, MA: Addison Wesley Longman.
   Google Scholar
• Holt, C.A. 1999. Teaching economics with classroom experiments. Southern Economic Journal 65 (3): 603–10.
   Web of Science ®Google Scholar
• Levitt, S.D., J.A. List, S. Neckermann, and S. Sadoff. 2012. The behavioralist goes to school: Leveraging behavioral economics to improve educational performance. National Bureau of Economic Research (NBER) Working Paper 18165. Cambridge, MA: NBER.
   Google Scholar
• List, J.A., and C.A. Gallet. 2001. What experimental protocol influence disparities between actual and hypothetical stated values? Environmental and Resource Economics 20 (3): 241–54.
   Web of Science ®Google Scholar
• Mankiw, N.G. 2014. Principles of microeconomics. 7th ed. Stamford, CT: Cengage Learning.
   Google Scholar
• Neral, J., and M. Ray. 1995. Experiential learning in the undergraduate classroom: Two exercises. Economic Inquiry 33 (1): 170–74.
   Web of Science ®Google Scholar
• Norwood, F.B., and J.L. Lusk. 2011. Social desirability bias in real, hypothetical, and inferred valuation experiments. American Journal of Agricultural Economics 93 (2): 528–34.
   Web of Science ®Google Scholar
• Ortman, A., and D. Colander. 1995. Experiments in teaching and understanding economics. Homewood, IL: Irwin.
   Google Scholar
• Smith, V.L., and J.M. Walker. 1993. Monetary rewards and decision cost in experimental economics. Economic Inquiry 31 (2): 245–61.
   Web of Science ®Google Scholar
• Vazquez-Cognet, J.J., D. Hazlett, K.A. Paulson Gjerde, and J.A. Smith. 2010. Conducting experiments in the economics classroom. In Teaching innovations in economics: Strategies and applications for interactive instruction, ed. M.K. Salemi and W.B. Walstad, 95–119. Cheltenham, UK and Northampton, MA, USA: Edward Elgar.
   Google Scholar